<SEC-DOCUMENT>0001193125-15-170811.txt : 20150505
<SEC-HEADER>0001193125-15-170811.hdr.sgml : 20150505
<ACCEPTANCE-DATETIME>20150505104437
ACCESSION NUMBER:		0001193125-15-170811
CONFORMED SUBMISSION TYPE:	424B5
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20150505
DATE AS OF CHANGE:		20150505

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CYTORI THERAPEUTICS, INC.
		CENTRAL INDEX KEY:			0001095981
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				330827593
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B5
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-195846
		FILM NUMBER:		15830943

	BUSINESS ADDRESS:	
		STREET 1:		3020 CALLAN ROAD
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92121
		BUSINESS PHONE:		8584580900

	MAIL ADDRESS:	
		STREET 1:		3020 CALLAN ROAD
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92121

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MACROPORE INC
		DATE OF NAME CHANGE:	20010320
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B5
<SEQUENCE>1
<FILENAME>d921202d424b5.htm
<DESCRIPTION>424B5
<TEXT>
<HTML><HEAD>
<TITLE>424B5</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right"><B>Filed Pursuant to Rule 424(b)(5)<BR>Registration No. 333-195846 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>PROSPECTUS SUPPLEMENT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">(To Prospectus dated May&nbsp;22, 2014) </P>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:3.00pt solid #334998">&nbsp;</P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g921202g68m85.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="center"><B>25,140,010 Units consisting of Common Stock and Warrants </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">We are offering for sale Units pursuant to this prospectus having an aggregate offering price of approximately $19.4 million, with each Unit consisting of one share of
our common stock and one warrant to purchase one share of common stock (the Unit warrant). The purchase price for each Unit is $0.77. The shares of common stock and the warrants included in the Units will be issued separately but can only be
purchased together in the Units in this offering. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">The sale of the Units offered hereby is expected to take place in two separate closings. In the first closing (the
Initial Closing), which we expect to occur on or about May 8, 2015, we will sell Units having an aggregate offering price of approximately $19.4 million. The purchase price for each Unit to be sold in the Initial Closing will be $0.77. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Subject to receipt of any required stockholder approval pursuant to the rules of the Nasdaq Stock Market and the restructure of our outstanding debt under our loan
agreement, we expect to complete a second closing (the Second Closing) in which we intend to sell additional Units having an aggregate offering price of up to $5.6&nbsp;million, with each Unit consisting of one share of our common stock and one
warrant to purchase one share of common stock (the Second Closing Unit). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Our common stock is listed on The NASDAQ Global Market under the symbol &#147;CYTX.&#148;
The last reported sale price of our common stock on May&nbsp;4, 2015 was $0.90 per share. There is no established public trading market for the warrants offered hereby, and we do not expect a market to develop. In addition, we do not intend to apply
for listing of the warrants offered hereby on any securities exchange or recognized trading system. The warrants will be issued in physical form. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><B>Investing in
our securities involves a high degree of risk. See &#147;Risk Factors,&#148; beginning on page S-11 of this prospectus supplement, as well as the documents incorporated by reference in this prospectus supplement, for a discussion of the factors you
should carefully consider before deciding to purchase our securities. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><B>Neither the Securities and Exchange Commission nor any state securities commission has
approved or disapproved of these securities or determined if this prospectus supplement or the accompanying prospectus is truthful or complete. Any representation to the contrary is a criminal offense. </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="72%"></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00px solid #000000"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Per&nbsp;Unit&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</I></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00px solid #000000"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</I></B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Public offering price(1)</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>0.77</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>19,357,807.70</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Placement agents&#146; fees(2)</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>0.0539</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,355,046.54</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Proceeds to us (before expenses)(1)</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>0.7161</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>18,002,761.16</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:26%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top">Includes Units to be sold in the Initial Closing. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top">See &#147;Plan of Distribution&#148; beginning on page S-21 for additional information regarding placement agent compensation and estimated offering expenses. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><I>Sole Lead Placement Agent</I> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:14pt; font-family:ARIAL" ALIGN="center"><B>Mizuho Securities
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><I>Placement Agents </I></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:12pt" ALIGN="center">


<TR>
<TD WIDTH="33%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="33%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD></TR>


<TR STYLE="font-family:ARIAL; font-size:12pt">
<TD VALIGN="top" ALIGN="center"><B>Roth Capital Partners</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>Maxim Group LLC</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>WBB Securities</B></TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">The date of this prospectus supplement is May&nbsp;5, 2015. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc"></A><A NAME="toc"></A>TABLE OF CONTENTS </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Prospectus Supplement </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="95%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_18">ABOUT THIS PROSPECTUS SUPPLEMENT</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">S-1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_19">PROSPECTUS SUPPLEMENT SUMMARY</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">S-2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_20">THE OFFERING</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">S-8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_21">RISK FACTORS</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">S-11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_22">SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">S-14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_23">USE OF PROCEEDS</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">S-15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_24">DIVIDEND POLICY</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">S-15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_25">DILUTION</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">S-16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_26">DESCRIPTION OF THE SECURITIES WE ARE OFFERING</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">S-18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_27">PLAN OF DISTRIBUTION</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">S-21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_28">LEGAL MATTERS</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">S-24</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_29">EXPERTS</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">S-24</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_30">WHERE YOU CAN FIND ADDITIONAL INFORMATION</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">S-24</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_31">INCORPORATION OF CERTAIN INFORMATION BY REFERENCE</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">S-24</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Prospectus </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="97%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_1">ABOUT THIS PROSPECTUS.</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_2">SUMMARY</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_3">RISK FACTORS</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_4">SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_5">STATEMENT OF COMPUTATION OF RATIOS</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_6">USE OF PROCEEDS</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_7">DESCRIPTION OF SECURITIES WE MAY OFFER</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_8">DESCRIPTION OF CAPITAL STOCK</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_9">DESCRIPTION OF DEBT SECURITIES</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_10">DESCRIPTION OF WARRANTS</A></P></TD>
<TD VALIGN="bottom"></TD>
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<TD NOWRAP VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
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<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_11">DESCRIPTION OF UNITS</A></P></TD>
<TD VALIGN="bottom"></TD>
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<TD NOWRAP VALIGN="bottom" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
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<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_12">LEGAL OWNERSHIP OF SECURITIES</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
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<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_13">PLAN OF DISTRIBUTION</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">27</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
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<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_14">LEGAL MATTERS</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
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<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_15">EXPERTS</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
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<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_16">WHERE YOU CAN FIND ADDITIONAL INFORMATION</A></P></TD>
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<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">29</TD>
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<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_17">INCORPORATION OF CERTAIN INFORMATION BY REFERENCE</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">30</TD>
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</TABLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_18"></A>ABOUT THIS PROSPECTUS SUPPLEMENT </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">This document is in two parts. The first part is the prospectus supplement, including the documents incorporated by reference, which describes the
specific terms of this offering. The second part, the accompanying prospectus, including the documents incorporated by reference, provides more general information. Before you invest, you should carefully read this prospectus supplement, the
accompanying prospectus, all information incorporated by reference herein and therein, as well as the additional information described under &#147;Where You Can Find Additional Information&#148; on page S-24 of this prospectus supplement. These
documents contain information you should consider when making your investment decision. This prospectus supplement may add, update or change information contained in the accompanying prospectus. To the extent there is a conflict between the
information contained in this prospectus supplement, on the one hand, and the information contained in the accompanying prospectus or any document incorporated by reference therein filed prior to the date of this prospectus supplement, on the other
hand, you should rely on the information in this prospectus supplement. If any statement in one of these documents is inconsistent with a statement in another document having a later date&#151;for example, a document filed after the date of this
prospectus supplement and incorporated by reference in this prospectus supplement and the accompanying prospectus&#151;the statement in the document having the later date modifies or supersedes the earlier statement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">You should rely only on the information contained or incorporated by reference in this prospectus supplement, the accompanying prospectus and in any
free writing prospectuses we may provide to you in connection with this offering. We have not, and the placement agents have, authorized any other person to provide you with any information that is different. If anyone provides you with different or
inconsistent information, you should not rely on it. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We further note that the representations, warranties and covenants made by us in any agreement
that is filed as an exhibit to any document that is incorporated by reference in the accompanying prospectus were made solely for the benefit of the parties to such agreement, including, in some cases, for the purpose of allocating risk among the
parties to such agreements, and should not be deemed to be a representation, warranty or covenant to you. Moreover, such representations, warranties or covenants were accurate only as of the date when made. Accordingly, such representations,
warranties and covenants should not be relied on as accurately representing the current state of our affairs. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We are offering to sell, and seeking
offers to buy, our securities only in jurisdictions where offers and sales are permitted. The distribution of this prospectus supplement and the offering of the securities in certain jurisdictions may be restricted by law. Persons outside the United
States who come into possession of this prospectus supplement must inform themselves about, and observe any restrictions relating to, the offering of the securities and the distribution of this prospectus supplement outside the United States. This
prospectus supplement does not constitute, and may not be used in connection with, an offer to sell, or a solicitation of an offer to buy, any securities offered by this prospectus supplement by any person in any jurisdiction in which it is unlawful
for such person to make such an offer or solicitation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">This prospectus supplement, the accompanying prospectus, and the information incorporated
herein and therein by reference, include trademarks, service marks and trade names owned by us or other companies. All trademarks, service marks and trade names included or incorporated by reference into this prospectus supplement or the
accompanying prospectus are the property of their respective owners. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">S-1 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_19"></A>PROSPECTUS SUPPLEMENT SUMMARY </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL"><I>This summary highlights selected information about us, this offering and information appearing elsewhere in this prospectus supplement, in the
accompanying prospectus and in the documents we incorporate by reference. This summary is not complete and does not contain all the information you should consider before investing in our securities pursuant to this prospectus supplement and the
accompanying prospectus. Before making an investment decision, to fully understand this offering and its consequences to you, you should carefully read this entire prospectus supplement and the accompanying prospectus, including &#147;Risk
Factors&#148; beginning on page S-11 of this prospectus supplement, and the financial statements and related notes and the other information that we incorporated by reference herein, including our Annual Reports on Form 10-K and Quarterly Reports on
Form 10-Q that we file from time to time. </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL"><I>Unless the context otherwise requires, all references in this prospectus to &#147;Cytori,&#148;
&#147;we,&#148; &#147;us,&#148; &#147;our,&#148; &#147;the Company&#148; or similar words refer to Cytori Therapeutics, Inc., together with our consolidated subsidiaries. </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Business Overview </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We develop cellular therapeutics uniquely
formulated and optimized for specific diseases and medical conditions. Our lead therapeutics are currently targeted for impaired hand function in scleroderma, osteoarthritis of the knee,&nbsp;and deep thermal burns combined with radiation exposure.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Our cellular therapeutics are collectively known by the trademarked name, Cytori Cell
Therapy<SUP STYLE="font-size:85%; vertical-align:top">TM</SUP>, and consist of a heterogeneous population of specialized cells including stem cells that are involved in response to injury, repair and healing. These cells are extracted from an adult
patient&#146;s own adipose (fat) tissue using our fully automated, enzymatic, sterile Celution<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP> System devices and consumable sets at the place where the patient is receiving their care (i.e.
there is no off-site processing or manufacturing). Cytori Cell Therapy can either be administered to the patient the same day or banked for future use.&nbsp;An independent published study has demonstrated that our proprietary process results in
higher nucleated cell viability, less residual enzyme activity, less processing time, and improved economics in terms of cell progenitor output compared to other semi-automated and automated processes available.</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Our goal is to bring Cytori Cell Therapy to market first for the treatment of impaired hand function in scleroderma and osteoarthritis of the knee,
through Cytori-sponsored clinical development efforts. We received Investigational Device Exemption (IDE) approval from the U.S. Food and Drug Administration (FDA) in late 2014 and in early 2015 initiated the osteoarthritis study. We anticipate
initiation of the scleroderma study in mid-2015. In addition, we are developing a treatment for thermal burns combined with radiation injury under a contract from the Biomedical Advanced Research Development Authority (BARDA), a division of the U.S.
Department of Health and Human Services. We are also exploring other development opportunities in a variety of other conditions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">In addition to our
targeted therapeutic development, we have continued to commercialize the Celution<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP> System under select medical device approvals, clearances and registrations to research customers developing
new therapeutic applications for Cytori Cell Therapy in Europe, Japan, and other regions. The sale of systems, consumables and ancillary products in advance of specific regulatory claims and reimbursement contributes a margin that partially offset
our operating expenses and will continue to play a role in fostering familiarity within the medical community with our technology. These sales have also facilitated the discovery of new applications for Cytori Cell Therapy by customers conducting
investigator-initiated and funded research. </P>
 <P STYLE="margin-top:0pt;margin-bottom:0pt; font-size:8pt">&nbsp;</P></div></div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">S-2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Development Pipeline </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The primary therapeutic areas currently in the development pipeline are scleroderma, orthopedics, cardiovascular disease, specifically heart failure due
to ischemic heart disease, and the treatment of thermal burns. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:3%; font-size:10pt; font-family:ARIAL"><B><I>Scleroderma </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">In January 2015, the FDA granted unrestricted IDE approval for a pivotal clinical trial, named the &#147;STAR&#148; trial, to evaluate Cytori Cell
Therapy as a potential treatment for impaired hand function in scleroderma, a rare autoimmune disease affecting approximately 50,000 patients in the U.S. The STAR trial is a 48-week, randomized, double blind, placebo-controlled pivotal clinical
trial of 80 patients in the U.S. The trial evaluates the safety and efficacy of a single administration of Cytori Cell Therapy (ECCS-50) in scleroderma patients affecting the hands and fingers. The STAR trial plans to use the Cochin Hand Function
Scale (CHFS), a validated measure of hand function, as the primary endpoint measured at six months after a single administration of ECCS-50 or placebo. Patients in the placebo group will be eligible for crossover to the active arm of the trial after
all patients have completed 48&nbsp;weeks of follow up. In February 2015, the FDA approved our request to increase the number of investigational sites from 12 to up to 20. The increased number of sites is anticipated to broaden the geographic
coverage of the trial and facilitate trial enrollment. The trial is expected to initiate in mid-2015. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The STAR trial is predicated on a completed
investigator-initiated pilot phase I/II trial performed in France termed SCLERADEC-I. The trial received partial support from Cytori. The results were published in the Annals of the Rheumatic Diseases in May 2014 and demonstrate approximately a 50
percent improvement at six months across four important and validated endpoints used to assess the clinical status in patients with scleroderma with impaired hand function. Patients perceived their health status to be improved as shown by a 45.2%
and 42.4% decrease of the Scleroderma Health Assessment Questionnaire (SHAQ) at month 2 (p=0&#149;001) and at month 6 (p=0&#149;001) respectively. A 47% and 56% decrease of the CHFS at month 2 and month 6 in comparison to baseline was observed
(p&lt;0&#149;001 for both). Grip strength increased at month 6 with a mean improvement of +4.8&plusmn;6.4 kg for the dominant hand (p=0.033) and +4.0&plusmn;3.5 kg for the non-dominant hand (p=0.002). Similarly, an increase in pinch strength at
month 6 was noted with a mean improvement of +1.0&plusmn;1.1 kg for the dominant hand (p=0.009) and +0.8&plusmn;1.2 kg for the non-dominant hand (p=0.050). Among subjects having at least one digital ulcer (DU) at inclusion, total number of DU
decreased, from 15 DUs at baseline, 10 at month 2 and 7 at month&nbsp;6. The average reduction of the Raynaud&#146;s Condition Score from baseline was 53.7% at month 2 (p&lt;0.001) and 67.5% at month 6 (p&lt;0.001). Hand pain showed a significant
decrease of 63.6% at month 2 (p=0.001) and 70% at month 6 (p&lt;0.001). A preliminary assessment for 12 month follow-up data has been reviewed by Cytori, and Cytori management believes such data reflects no reports of adverse events or safety
concerns, average values for CHFS, RCS, and SHAQ score that are statistically consistent with those at the 6 month follow up visit and, while the average hand pain at 12 months was lower than that at baseline (reflecting overall symptom improvement
over baseline), there was an approximately 50% reduction in the average therapeutic benefit on hand pain from six to twelve months. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">In 2014,
Dr.&#146;s Guy Magalon and Brigette Granel from the Assistance Publique des H&ocirc;pitaux de Marseille submitted a study for review for a follow-up pivotal/phase III randomized, double-blind, placebo controlled trial in France, to be co-sponsored
by Cytori, called SCLERADEC II. Patients will be followed for 6 months post-procedure. The trial was approved by the French government in April 2015. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Scleroderma is a chronic autoimmune disorder associated with fibrosis of the skin, destructive changes in blood vessels and multiple organ systems as
the result of a generalized overproduction of collagen. Scleroderma affects women four times more frequently than men and is typically detected </P>
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 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">S-3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">
between the ages of 30 and 50. More than 90 percent of scleroderma patients have hand involvement that is typically progressive and can result in chronic pain, blood flow changes and severe
dysfunction. The limited available treatments for scleroderma may provide some benefit but do little to modify disease progression or substantially improve symptoms. Treatment options are directed at protecting the hands from injury and detrimental
environmental conditions as well as the use of vasodilators. When the disease is advanced, immunosuppressive and other medications may be used but are often accompanied by intolerable side effects. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:3%; font-size:10pt; font-family:ARIAL"><B><I>Osteoarthritis </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">In the later part of
2014, we received approval by the FDA to begin a U.S. IDE pilot (phase IIa/b) trial of Cytori Cell Therapy in patients with osteoarthritis of the knee. The trial, called ACT-OA, is a 90&nbsp;patient, randomized, double-blind, placebo control study
involving two dose escalations of Cytori Cell Therapy, a low dose and a high dose, and will be conducted over 48 weeks. The randomization is 1:1:1 between the control, low and high dose groups. Enrollment on this trial began in February 2015. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Osteoarthritis is a disease of the entire joint involving the cartilage, joint lining, ligaments, and underlying bone. The breakdown of tissue leads to
pain, joint stiffness and reduced function. It is the most common form of arthritis and affects an estimated 13.9% of US adults over the age of 25, and 33.6% of adults over the age of 65. Current treatments include physical therapy, non-steroidal
anti-inflammatory medications, viscosupplement injections, and total knee replacement. A substantial medical need exists as present medications have limited efficacy and joint replacement is a relatively definitive treatment for those with the most
advanced disease. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:3%; font-size:10pt; font-family:ARIAL"><B><I>Cutaneous and Soft Tissue Thermal and Radiation Injuries </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Cytori Cell Therapy is also being developed for the treatment of thermal burns combined with radiation injury. In the third quarter of 2012, we were
awarded a contract to develop a new countermeasure for thermal burns valued at up to $106 million with the U.S. Department of Health and Human Service&#146;s Biomedical Advanced Research and Development Authority (BARDA). The initial base period
included $4.7&nbsp;million over two years and covered preclinical research and continued development of Cytori&#146;s Celution<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP> System to improve cell processing. The additional contract
options, if fully executed, could cover our clinical development through FDA approval under a device-based PMA regulatory pathway. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The
cost-plus-fixed-fee contract is valued at up to $106 million, with a guaranteed two-year base period of approximately $4.7 million. We submitted reports to BARDA in late 2013 detailing the completion of the objectives in the initial contract. An
In-Process Review Meeting in the first half of 2014 confirmed completion of the proof of concept phase. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">In August and December, 2014, BARDA awarded
Cytori contract options of $14 million. The options allow for continuation of research, regulatory, clinical, and other activities required for approval and completion of a pilot clinical trial using Cytori Cell Therapy for the treatment of thermal
burns combined with radiation injury. The award for conducting the pilot trial, approximately $8 million, would follow FDA approval of the trial protocol and associated documentation. Once the data from pilot trial is analyzed, the final phase would
include research, regulatory, and clinical activities necessary to achieve regulatory clearances to optimize a treatment for combined injury involving thermal burn and radiation exposure. A pivotal clinical trial of the use of the Cytori Cell
Therapy for thermal burn injury would be the primary basis of an FDA approval. The total award is intended to support all clinical, preclinical, regulatory, and technology development activities needed to complete the FDA approval process for use in
thermal burn injury under a device-based PMA regulatory pathway. </P>
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 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">S-4 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3%; font-size:10pt; font-family:ARIAL"><B><I>Other Clinical Indications </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Cardiovascular disease remains a target therapeutic application of Cytori Cell Therapy. The ATHENA and ATHENA II trial programs sought to evaluate the
safety and feasibility of Cytori Cell Therapy in patients with heart failure due to ischemic heart disease. In 2014, we truncated enrollment at 31 patients in the U.S. ATHENA trials as a result of delays associated with reviews of safety data. While
the trials received FDA approval to proceed, we elected to discontinue further enrollment in order to examine 6 and 12 month data in 2015 and with the analysis, strategically examine whether further investments in the cardiac program are warranted
at this time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Another therapeutic target under evaluation by us is stress urinary incontinence in men following removal of the prostate gland
(radical prostatectomy), which is based on positive data reported in a peer reviewed journal resulting from the use of adipose-derived regenerative cells processed by our Celution System. A study is currently being planned by Dr.&#146;s Magalon and
Granel in Japan and anticipated to begin this year. This study will receive substantial support from Japan&#146;s Ministry of Health, Labour and Welfare (MHLW). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Recent Developments </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:3%; font-size:10pt; font-family:ARIAL"><B><I>First Quarter Preliminary
Financial Results </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">As of March&nbsp;31, 2015, we had cash and cash equivalents of approximately $13.2 million. From March&nbsp;31, 2015 and
through May&nbsp;1, 2015, we sold 2,401,292 shares of our common stock under the ATM, receiving net proceeds of approximately $3.2 million in connection with these sales and certain of our outstanding warrants were exercised on a cash basis for a
total of 8,639,965 shares of common stock resulting in approximately $5.0 million in proceeds from the exercise of warrants. Giving effect to these issuances, we have received approximately $8.2 million in proceeds from the sale of securities since
March&nbsp;31, 2015, in addition to our cash and cash equivalents at March&nbsp;31, 2015 of approximately $13.2 million. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">For the quarter ended
March&nbsp;31, 2015, we had product revenue of approximately $0.9 million, operating loss of approximately$21 million (inclusive of a non-cash charge for change in fair value of warrants of approximately $15.4 million), net loss allocable to common
stockholders of approximately of $22.6 million, and approximately $5 million of net cash used in operating activities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:3%; font-size:10pt; font-family:ARIAL"><B><I>Regulatory Clearance
</I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">In April 2015, one of our exclusive licensees, Lorem Vascular Pty. Ltd, was granted regulatory clearance for the Cytori Celution<SUP
STYLE="font-size:85%; vertical-align:top">&reg;</SUP> System by the State Food and Drug Administration of the People&#146;s Republic of China (CFDA). This regulatory clearance officially makes our Celution System available in the largest healthcare
market in the world and triggers a 2015 product purchase order for the Company from Lorem Vascular. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:3%; font-size:10pt; font-family:ARIAL"><B><I>Orphan Designation </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">In April 2015, the European Commission, acting on the positive recommendation from the European Medicines Agency Committee for Orphan Medicinal Products,
has designated our ECCS-50 cellular therapeutic as an orphan medicinal product for the treatment of scleroderma. This designation marks the first autologous adipose derived cell therapy for scleroderma granted orphan status in the European Union.
</P>
 <P STYLE="margin-top:0pt;margin-bottom:0pt; font-size:8pt">&nbsp;</P></div></div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">S-5 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3%; font-size:10pt; font-family:ARIAL"><B><I>Recent Transactions </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:3%; font-size:10pt; font-family:ARIAL"><I>Loan Agreement </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We are in current discussions
with our lenders to restructure our outstanding debt under our Loan and Security Agreement, entered into on June&nbsp;28, 2013 (the Loan Agreement). In connection with and following the initial closing of the Offering, the proceeds of which will be
used to restructure our existing debt under the Loan Agreement, we intend to pursue a new term loan with significantly lower principal balance. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:3%; font-size:10pt; font-family:ARIAL"><I>At-The-Market Offering Program </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">In May 2014,
we entered into a sales agreement with Cowen and Company, LLC, or Cowen, pursuant to which Cowen may sell our common stock by methods deemed to be an &#147;at the market offering,&#148; or ATM, as defined in Rule 415 promulgated under the Securities
Act of 1933, as amended (the Securities Act). During the quarter ended March&nbsp;31, 2015, we issued our first placement notice to Cowen. During the quarter ended March&nbsp;31, 2015, we sold 3,369,373 shares of our common stock and received net
proceeds of approximately $4.1 million in connection with these sales. From March&nbsp;31, 2015 and through May&nbsp;1, 2015 we sold 2,401,292 shares of our common stock under the ATM and received net proceeds of approximately $3.2 million in
connection with these sales. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:3%; font-size:10pt; font-family:ARIAL"><I>Warrant Exercises </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">During the quarter ended March&nbsp;31, 2015, certain of our outstanding warrants were exercised on a cashless basis for a total of 1,681,241 shares of
common stock. From March&nbsp;31, 2015 and through May&nbsp;1, 2015, certain of our outstanding warrants were exercised on a cash basis for a total of 8,639,965 shares of common stock. The Company received approximately $5.0 million in proceeds from
the exercise of warrants. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:3%; font-size:10pt; font-family:ARIAL"><I>Amendment to Joint Venture Termination Agreement </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">On April&nbsp;30, 2015, we entered into Amendment One to Joint Venture Termination Agreement (the &#147;Amendment&#148;) with Olympus Corporation
(&#147;Olympus&#148;) to that certain Joint Venture Termination Agreement, dated May&nbsp;8, 2013, by and between Cytori Therapeutics, Inc. and Olympus (the &#147;Agreement&#148;) in order to extend our payment obligations under the Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Under the Agreement, we are required to pay Olympus a total purchase price of $6,000,000 within two years of the date of the Agreement. The Amendment
amends the payment terms to extend the period for payment of the remaining balance of the $6,000,000, or $3,170,249, with the balance of the purchase price bearing an interest rate of 6%&nbsp;per annum. Pursuant to the Amendment, we are required to
pay $1,000,000 on or prior to May&nbsp;8, 2015, $500,000 of principal on or prior to September&nbsp;30, 2015, $500,000 of principal on or prior to December&nbsp;31, 2015, $500,000 of principal on or prior to March&nbsp;31, 2016, and the remaining
$770,249 of principal and accrued interest on or prior to May&nbsp;8, 2016. We may prepay the remaining principal and accrued interest at any time without penalty. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">In accordance with the terms of the Agreement, if we fail to pay the full balance of any installment payment, we will be required to pay Olympus the
extended purchase price of a total of $16,000,000 on or prior to March&nbsp;1, 2020, with any principal payments previously paid applied towards the extended purchase price. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:3%; font-size:10pt; font-family:ARIAL"><B><I>Common Stock Outstanding </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">As of
March&nbsp;31, 2015, we had 114,097,357 shares of our common stock outstanding, which does not include 2,401,292 additional shares of common stock sold under the ATM, 625,002 shares issued </P>
 <P STYLE="margin-top:0pt;margin-bottom:0pt; font-size:8pt">&nbsp;</P></div></div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">S-6 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">
in connection with the conversion of our Series A 3.6% Convertible Preferred Stock and 8,639,965 additional shares of common stock issued in connection with warrant exercises as of May&nbsp;1,
2015. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Corporate Information </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We were initially formed as
a California general partnership in July 1996, and incorporated in the State of Delaware in May 1997. We were formerly known as MacroPore Biosurgery, Inc., and before that as MacroPore, Inc. Our corporate offices are located at 3020 Callan Road, San
Diego, CA 92121. Our telephone number is (858)&nbsp;458-0900. We maintain an Internet website at <I>www.cytori.com</I>. The contents on our website are not part of this prospectus, and the reference to our website does not constitute incorporation
by reference into this prospectus of the information contained at that site. </P>
 <P STYLE="margin-top:0pt;margin-bottom:0pt; font-size:8pt">&nbsp;</P></div></div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">S-7 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_20"></A>THE OFFERING </B></P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="48%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:ARIAL">Units we are offering </P></TD>
<TD>25,140,010 Units having an aggregate offering price of approximately $19.4 million, with each unit consisting of one share of our common stock and one warrant to purchase one share of our common stock The shares of common stock and warrants
comprising the Units are immediately separable and will be issued separately, but will be purchased together in this offering. This prospectus also relates to the shares of common stock issuable upon exercise of the Unit warrants. </TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="48%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:ARIAL">Public offering price </P></TD>
<TD>$0.77 per Unit for each Unit to be issued in the Initial Closing. </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="48%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:ARIAL">Unit warrants we are offering </P></TD>
<TD>Each warrant included in a Unit to be issued in the Initial Closing will be exercisable for one share of our common stock, will be exercisable six months after the date of issuance and will expire five years from the date it first becomes
exercisable. The warrants included in the Units to be issued in the Initial Closing will have an exercise price of $1.02 per share. </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="48%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:ARIAL">Common stock to be outstanding immediately after the Initial Closing. </P></TD>
<TD>Upon completion of the Initial Closing, we will have 139,237,367&nbsp;shares of Common Stock outstanding, or 164,377,377&nbsp;shares of Common Stock if the warrants included in the Units issued in the Initial Closing are exercised in full.
</TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="48%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:ARIAL">Second closing </P></TD>
<TD> <P STYLE="font-family:ARIAL; font-size:10pt">Subject to receipt of stockholder approval and the restructure of our outstanding debt under our Loan Agreement as contemplated in this prospectus, we expect to complete the Second Closing, in which
we would sell Units having an aggregate offering price of up to $5.6&nbsp;million, with each Unit consisting of one share of our common stock and one warrant to purchase one share of common stock (the Second Closing Unit). For those purchasers whose
purchase of the Units would result in their beneficially owning in excess of 9.99% of the shares (the Blocked Shares) of Common Stock outstanding immediately after giving effect to such Second Closing, in lieu of issuing the Blocked Shares to such
purchaser at the Second Closing, we will issue to such purchaser at the Second Closing a Unit consisting of Pre-Paid warrant and one warrant to purchase one share of common stock (the Pre-Paid Unit). The purchase price for each Second Closing Unit
and Pre-Paid Unit shall equal 90% of the quotient of the sum of </P></TD></TR></TABLE>
 <P STYLE="margin-top:0pt;margin-bottom:0pt; font-size:8pt">&nbsp;</P></div></div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">S-8 </P>


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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="48%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:0%; font-size:10pt; font-family:ARIAL">
the VWAP for the Common Stock as of each trading day during the five consecutive trading day period ending and including the trading day ended immediately prior to the date of the Second Closing,
divided by five, but in no event greater than $0.77. We anticipate that the Second Closing would occur within 5 business days of receipt of shareholder approval, subject to satisfaction of the other conditions for completing the Second Closing. The
warrants included in the Units to be issued in the Second Closing will have an exercise price equal to 120% of the quotient of the sum of the VWAP for the Common Stock as of each trading day during the five consecutive trading day period ending and
including the trading day ended immediately prior to the date of the Second Closing, divided by five, but in no event greater than $1.02&nbsp;per share. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="48%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:ARIAL">Use of proceeds </P></TD>
<TD>We intend to use the net proceeds from the sale of the securities for general corporate purposes, including our clinical trials, further development of our Celution&#153; System products and other related research and development, sales and
marketing, debt repayment or refinancing, general administrative expenses, working capital and capital expenditures. Please see &#147;Use of Proceeds&#148; on page&nbsp;S-15. </TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="48%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:ARIAL">Risk factors </P></TD>
<TD>An investment in our common stock involves a high degree of risk. See &#147;Risk Factors&#148; beginning on page&nbsp;S-11 of this prospectus supplement and the risk factors included in our Annual Report on Form 10-K for the year ended
December&nbsp;31, 2014, as well as the other information included in or incorporated by reference in this prospectus supplement and the accompanying prospectus, for a discussion of risks you should carefully consider before investing in our
securities. </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="48%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:ARIAL">Listing </P></TD>
<TD>Our common stock is listed on The NASDAQ Global Market under the symbol &#147;CYTX.&#148; </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The number of shares of our common
stock to be outstanding upon completion of the Initial Closing is based on 114,097,357 shares of common stock outstanding as of March&nbsp;31, 2015 and assume no conversions of our Series A 3.6% Convertible Preferred Stock, no exercise of
outstanding options or warrants and no vesting of restricted stock awards since that date. The number of shares of common stock expected to be outstanding after this offering excludes, as of March&nbsp;31, 2015: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">8,944,431 shares of common stock issuable upon the exercise of outstanding stock options, having a weighted average exercise price of $3.47 per share; </TD></TR></TABLE>
 <P STYLE="margin-top:0pt;margin-bottom:0pt; font-size:8pt">&nbsp;</P></div></div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">S-9 </P>


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<div style ="BORDER-BOTTOM:1px solid #000000;BORDER-LEFT:1px solid #000000;BORDER-RIGHT:1px solid #000000;BORDER-TOP:1px solid #000000;MARGIN-LEFT:0px;MARGIN-RIGHT:0px;WIDTH:100%"><div style="width:97%; margin-top:1.5%; margin-left:1.5%; margin-right:-1.25%">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">83,903 shares of common stock issuable upon the vesting of outstanding restricted stock awards; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">31,719,141 shares of our common stock issuable upon the exercise of outstanding warrants with a weighted-average exercise price of $0.99 per share; and </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">625,002 shares of our common stock issuable upon the conversion of Series A 3.6% Convertible Preferred Stock. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">To the extent that any options or warrants are exercised, new options are issued under our equity incentive plan, additional shares of common stock are
sold under our employee stock purchase plan or we otherwise issue additional shares of common stock in the future at prices per share below the price per share for any shares sold in this offering, there will be further dilution to new investors. In
addition, the number of shares of Common Stock, as well as the number of shares of Common Stock underlying Warrants, that in each case will form a part of the Units to be issued in the Second Closing will be dependent on the price per share of our
Common Stock at the time of the Second Closing. In the event the price per share of our Common Stock declines subsequent to the date hereof and prior to the Second Closing, investors could experience significant additional dilution as a result of
the Second Closing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Subsequent to March&nbsp;31, 2015, we issued 2,401,292 additional shares of common stock sold under the ATM, 625,002 shares
issued in connection with the conversion of our Series A 3.6% Convertible Preferred Stock and 8,639,965 additional shares of common stock issued in connection with warrant exercises as of May&nbsp;1, 2015. As of May&nbsp;1, 2015, we had no shares of
Series A 3.6% Convertible Preferred Stock remaining outstanding. </P>
 <P STYLE="margin-top:0pt;margin-bottom:0pt; font-size:8pt">&nbsp;</P></div></div>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_21"></A>RISK FACTORS </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL"><I>Investing in our securities involves a high degree of risk and uncertainty. In addition to the other information included or incorporated by
reference in this prospectus supplement and the accompanying prospectus, you should carefully consider the risks described in the &#147;Risk Factors&#148; section of our Form 10-K for the year ended December&nbsp;31, 2014, which is incorporated by
reference herein, before making an investment decision with respect to the securities. If any of such risks and uncertainties actually occurs, our business, financial condition, and results of operations could be severely harmed. This could cause
the trading price of our common stock to decline, and you could lose all or part of your investment. </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Additional Risks Related to the Company </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B><I>Our independent registered public accounting firm has issued a &#147;going concern&#148; opinion. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Our ability to continue as a going concern is dependent upon our ability to generate profitable operations in the future and/or to obtain the necessary
financing to meet our obligations and repay our liabilities arising from normal business operations when they come due. We plan to continue to provide for our capital requirements by issuing additional equity and/or debt. No assurance can be given
that additional capital will be available when required or on terms acceptable to us. We also cannot give assurance that we will achieve sufficient revenues in the future to achieve profitability and cash flow positive operations. The outcome of
these matters cannot be predicted at this time and there are no assurances that, if achieved, we will have sufficient funds to execute our business plan or to generate positive operating results. Our independent registered public accounting firm has
indicated that these matters, among others, raise substantial doubt about our ability to continue as a going concern. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Additional Risks Related to our Common
Stock and this Offering </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B><I>There may be future sales or other dilution of our equity, which may adversely affect the market price of our common stock.
</I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Subject to lock-up provisions that apply for the first 90 days after the Initial Closing, we are generally not restricted from issuing
additional common stock, including any securities that are convertible into or exchangeable for, or that represent the right to receive, common stock. In addition, we may not sell securities through an &#147;at-the-market offering&#148; program
through December&nbsp;31, 2015 and only conduct such an offering through December&nbsp;31, 2016 provided that the price of any securities sold during such period is greater than 120% of the exercise price of the Warrants. The market price of our
common stock could decline as a result of sales of common stock or securities that are convertible into or exchangeable for, or that represent the right to receive, common stock after this offering or the perception that such sales could occur. In
addition, anti-dilution provisions contained in our outstanding warrants, as well as the anti-dilution provisions contained in the Warrants forming a part of the Units, may significantly increase the dilutive effect of other issuances of securities
by us. Further, the number of shares of Common Stock, as well as the number of shares of Common Stock underlying Warrants, that in each case will form a part of the Units to be issued in the Second Closing will be dependent on the price per share of
our Common Stock at the time of the Second Closing. In the event the price per share of our Common Stock declines subsequent to the date hereof and prior to the Second Closing, investors could experience significant additional dilution as a result
of the Second Closing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B><I>Our management will have broad discretion over the use of the net proceeds from this offering, you may not agree with how we use the
proceeds and the proceeds may not be invested successfully. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Our management will have broad discretion as to the use of the net proceeds from
this offering and could use them for purposes other than those contemplated at the time of commencement of this </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">S-11 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">
offering. Accordingly, you will be relying on the judgment of our management with regard to the use of these net proceeds, and you will not have the opportunity, as part of your investment
decision, to assess whether the proceeds are being used appropriately. It is possible that, pending their use, we may invest the net proceeds in a way that does not yield a favorable, or any, return for us. The failure of our management to use such
funds effectively could have a material adverse effect on our business, financial condition, operating results and cash flows. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B><I>You will experience immediate
and substantial dilution in the book value per share of the common stock you purchase. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Because the price per Unit being offered is
substantially higher than the net tangible book value per share of our common stock, you will suffer immediate and substantial dilution in the net tangible book value of the common stock contained in the units you purchase in this offering. After
giving effect to the sale by us of the units we are offering at the public offering price of $0.77 per Unit (with each Unit containing one share of common stock and one warrant to purchase one share of common stock), and after deducting the
placement agents&#146; fee and estimated offering expenses payable by us, our <FONT STYLE="white-space:nowrap">as-adjusted</FONT> net tangible book value as of December&nbsp;31, 2014 would have been approximately $(1.5)&nbsp;million, or
approximately $(0.01) per share of common stock, without giving effect to the potential exercise of the warrants being offered by this prospectus supplement. This represents an immediate increase in net tangible book value of approximately $0.18 per
share of common stock to our existing stockholders and an immediate dilution in as-adjusted net tangible book value of approximately $0.78 per share of common stock to new investors who purchase units in this offering. See &#147;Dilution&#148; on
page S-12 for a more detailed discussion of the dilution you may incur in connection with this offering. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B><I>To the extent certain of our existing investors
exercise participation rights in connection with this offering, that may reduce the number of shares available for sale to other investors in this offering. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Certain of our existing investors have participation rights that allow them, at their option, to purchase, in the aggregate, up to 50% of the shares we
sell in this offering. To the extent these rights are exercised, it will reduce the number of shares available for purchase by other investors in this offering. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B><I>There is no public market for the warrants to purchase common stock in this offering</I></B><B>.</B><B><I> </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">There is no established public trading market for the warrants, and we do not expect a market to develop. In addition, we do not intend to apply for
listing of the warrants on any securities exchange or recognized trading system. Without an active market, the liquidity of the warrants will be limited. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B><I>If
we are unable to obtain stockholder approval for the issuance of the all of the shares of common stock included in the Units and exercise of the warrants or we are unable to restructure our outstanding debt under our Loan Agreement, we will be
unable to issue and sell all of the Units</I></B>.<B><I> </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We contemplate that the Units offered by this prospectus will be sold in two
closings. At the Initial Closing, we will issue and sell Units in an amount such that the shares of common stock included in the Units equals up to 19.99% of our issued and outstanding common stock on the Initial Closing date of the agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">In connection with the offering being made by this prospectus, we have agreed to seek approval from our stockholders as may be required by the
applicable rules and regulations of the Nasdaq Stock Market, including the issuance of all of the shares of common stock included in the Units (including such shares of common stock issuable upon exercise of the warrants) in excess of 19.99% of our
issued and outstanding common stock on the Initial Closing date. We refer to this approval as the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">S-12 </P>


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&#147;Stockholder Approval.&#148; Subject to receipt of such stockholder approval and the satisfaction of certain other conditions, including a refinancing of our outstanding debt under our Loan
Agreement, we expect to complete a Second Closing within 5 business days of receipt of such stockholder approval, in which we expect to sell up to $5.6&nbsp;million of Units consisting of one share of our common stock and one warrant to purchase one
share of common stock. Depending on the price of our common stock in the five trading days prior to the Second Closing, at the Second Closing we will sell and issue units consisting of one share of common stock and one warrant to purchase one share
of common stock in an amount up to 15,000,000 units but in any event not less than 7,327,532 units. Following the Initial Closing, we intend to use a portion of the proceeds to refinance our existing debt to provide that our outstanding debt under
our Loan Agreement does not exceed $18.0 million. If we are unable to obtain the Stockholder Approval or refinance our outstanding debt under our Loan Agreement, or if any of the other closing conditions to the Second Closing are not satisfied, we
will not be able to sell up to $5.6&nbsp;million of Units we will offer and the proceeds to us from this offering will be reduced accordingly. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B><I>Holders of our
warrants will have no rights as a common stockholder until such holders exercise their warrants and acquire our common stock. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Until holders
of warrants acquire shares of our common stock upon exercise of the warrants, holders of warrants will have no rights with respect to the shares of our common stock underlying such warrants. Upon exercise of the warrants, the holders thereof will be
entitled to exercise the rights of a common stockholder only as to matters for which the record date occurs after the exercise date. Subject to limited exceptions, a holder of warrants will not have the right to exercise any portion of the warrant
to the extent that, after giving effect to the exercise, the holder, together with its affiliates, would beneficially own in excess of 9.99% of the number of shares of our common stock outstanding immediately after giving effect to its exercise.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B><I>The warrants included in this offering may not have any value. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Each warrant has an exercise price of $1.02 per share of common stock, subject to adjustment, will be exercisable at any time and from time to time after
the date that is six months from the date of issuance, and will expire five years from the date it first becomes exercisable. In the event our common stock price does not exceed the exercise price of the warrants during the period when the warrants
are exercisable, the warrants may not have any value. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">S-13 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_22"></A>SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">This prospectus supplement, the accompanying prospectus and the SEC filings that are incorporated by reference into this prospectus supplement and the
accompanying prospectus contain or incorporate by reference forward-looking statements within the meaning of Section&nbsp;27A of the Securities Act and Section&nbsp;21E of the Securities Exchange Act of 1934, as amended (the Exchange Act). All
statements, other than statements of historical fact, included or incorporated by reference in this prospectus supplement or the accompanying prospectus, including but not limited to statements regarding our anticipated expenditures, including those
related to clinical research studies and general and administrative expenses, the potential size of the market for our products, future development and/or expansion of our products and therapies in our markets, our ability to generate product
revenues or effectively manage our gross profit margins, our ability to obtain regulatory clearance, our ability to continue operating as a going concern, our ability to repay or refinance some or all of our outstanding indebtedness, and our ability
to raise capital in the future, and expectations as to our future performance, are forward-looking statements. The words &#147;believe,&#148; &#147;anticipate,&#148; &#147;estimate,&#148; &#147;plan,&#148; &#147;expect,&#148; &#147;intend,&#148;
&#147;may,&#148; &#147;could,&#148; &#147;should,&#148; &#147;potential,&#148; &#147;likely,&#148; &#147;projects,&#148; &#147;continue,&#148; &#147;will,&#148; and &#147;would&#148; and similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain these identifying words. We cannot guarantee that we actually will achieve the plans, intentions or expectations expressed in our forward-looking statements and you should not place
undue reliance on our forward-looking statements. There are a number of important factors that could cause our actual results to differ materially from those indicated or implied by forward-looking statements. These important factors include those
set forth above under &#147;Risk Factors&#148; and in the risk factors section of our Annual Report on 10-K for the year ended December&nbsp;31, 2014. These factors and the other cautionary statements made in this prospectus supplement should be
read as being applicable to all related forward-looking statements whenever they appear in this prospectus supplement and the accompanying prospectus. Except as required by law, we do not assume any obligation to update any forward-looking
statement. We disclaim any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">S-14 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_23"></A>USE OF PROCEEDS </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We estimate that the net proceeds to us from the sale of Units to be sold by us in the Initial Closing will be approximately $17.5&nbsp;million, after
deducting the placement agents&#146; fee and estimated expenses of this offering payable by us. To the extent the Second Closing occurs, we expect to realize approximately $5.2&nbsp;million of additional net proceeds from the offering of the Units.
To the extent any warrants included in Units sold in the Initial Closing or Second Closing are exercised for cash, we would receive further additional proceeds. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We intend to use the net proceeds from the sale of the securities for general corporate purposes, including our clinical trials, further development of
our Celution&#153; System products and other related research and development, sales and marketing, debt repayment or refinancing, general administrative expenses, working capital and capital expenditures. Following the Initial Closing, we intend to
use a portion of the proceeds from this Offering to refinance outstanding debt under our Loan Agreement, with a principal amount of $25.0&nbsp;million as of March&nbsp;31, 2015 and which bears interest at a fixed rate of 9.75%&nbsp;per annum with a
maturity date of July&nbsp;1, 2017, to provide that our outstanding debt under our Loan Agreement does not exceed $18.0 million. Pending these uses, we intend to invest the net proceeds in investment-grade, short-term, interest-bearing securities.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Our management will have broad discretion as to the use of the net proceeds from this offering and could use them for purposes other than those
contemplated at the time of commencement of this offering. Accordingly, you will be relying on the judgment of our management with regard to the use of these net proceeds, and you will not have the opportunity, as part of your investment decision,
to assess whether the proceeds are being used appropriately. It is possible that, pending their use, we may invest the net proceeds in a way that does not yield a favorable, or any, return for our company. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_24"></A>DIVIDEND POLICY </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We have never declared or paid any dividends on our common stock and do not anticipate paying any in the foreseeable future. We currently intend to
retain all of our future earnings, if any, to finance the operation and expansion of our business. Any future determination relating to our dividend policy will be made at the discretion of our board of directors and will depend on a number of
factors, including future earnings, capital requirements, financial conditions, future prospects, contractual restrictions and covenants and other factors that our board of directors may deem relevant. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">S-15 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_25"></A>DILUTION </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Because the purchase price per share in this offering is substantially higher than the net tangible book value per share of our common stock, you will
suffer immediate and substantial dilution in the net tangible book value of the common stock you purchase in this offering. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Our net tangible book
value as of December&nbsp;31, 2014, was approximately $(19.0) million, or approximately $(0.19) per share of common stock. Net tangible book value per share of common stock represents the amount of our total tangible assets, excluding goodwill and
intangible assets, less total liabilities, divided by the total number of shares of our common stock outstanding. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">After giving effect to the sale
by us the units to be issued in the Initial Closing we are offering at the public offering price of $0.77 per Unit (with each Unit containing one share of common stock and one warrant to purchase one share of common stock), the last reported sale
price of our common stock on The NASDAQ Global Market, and after deducting the placement agents&#146; fee and estimated offering expenses payable by us, our as-adjusted net tangible book value as of December&nbsp;31, 2014 would have been
approximately $(1.5)&nbsp;million, or approximately $(0.01) per share of common stock. This represents an immediate increase in net tangible book value of approximately $0.18 per share of common stock to our existing stockholders and an immediate
dilution in as-adjusted net tangible book value of approximately $0.78 per share of common stock to new investors who purchase units in this offering, as illustrated by the following table: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="86%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Public offering price per Unit</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.77</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Net tangible book value per share of common stock as of December&nbsp;31, 2014</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(0.19</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">As-adjusted net tangible book value per share of common stock as of December&nbsp;31, 2014, after giving effect to this offering</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(0.01</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Dilution per share of common stock to new investors participating in this offering</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.78</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The amounts above are based on 99,348,377 shares of common stock outstanding as of December&nbsp;31, 2014 and assume no
conversions of our Series A 3.6% Convertible Preferred Stock, no exercise of outstanding options or warrants and no vesting of restricted stock awards since that date. The number of common stock expected to be outstanding after this offering
excludes, as of December&nbsp;31, 2014. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">9,115,348 shares of common stock issuable upon the exercise of outstanding stock options, having a weighted average exercise price of $3.93 per share; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">193,123 shares of common stock issuable upon the vesting of outstanding restricted stock awards; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">34,361,455 shares of our common stock issuable upon the exercise of outstanding warrants with a weighted-average exercise price of $1.07 per share; and </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">10,214,144 shares of our common stock issuable upon the conversion of Series A 3.6% Convertible Preferred Stock. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">As of March&nbsp;31, 2015, we had 114,097,357 shares of our common stock outstanding. Subsequent to March&nbsp;31, 2015, we issued 2,401,292 additional
shares of common stock sold under the ATM, 625,002 shares issued in connection with the conversion of our Series A 3.6% Convertible Preferred Stock and 8,639,965 additional shares of common stock issued in connection with warrant exercises as of
May&nbsp;1, 2015. As of May&nbsp;1, 2015, we had no shares of Series A 3.6% Convertible Preferred Stock remaining outstanding. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">S-16 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">To the extent that any options or warrants are exercised, new options are issued under our equity incentive
plan, additional shares of common stock are sold under our employee stock purchase plan or we otherwise issue additional shares of common stock in the future at prices per share below the price per share for any shares sold in this offering, there
will be further dilution to new investors. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">S-17 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_26"></A>DESCRIPTION OF THE SECURITIES WE ARE OFFERING </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">In this offering, we are offering for sale Units having an aggregate offering price of approximately $19.4&nbsp;million, with each Unit consisting of
one share of our common stock and one warrant to purchase one share of our common stock. The purchase price for each Unit to be sold in the Initial Closing is $0.77. The purchase price for each unit issued in the Second Closing (including any
Pre-Paid units) shall equal 90% of the quotient of the sum of the VWAP for the Common Stock as of each trading day during the five consecutive trading day period ending and including the trading day ended immediately prior to the date of the Second
Closing, divided by five, but in no event greater than $0.77 per Unit. The Units will not be certificated. The shares of common stock and the warrants included in the Units will be issued separately but can only be purchased together in the Units in
this offering. For those purchasers whose purchase of the Units in the Second Closing would result in their beneficially owning in excess of 9.99% of the shares (the Blocked Shares) of our Common Stock outstanding immediately after giving effect to
such Second Closing, in lieu of issuing the Blocked Shares to such purchaser at the Second Closing, we will issue to such purchaser at the Second Closing a Pre-Paid Unit consisting of Pre-Paid warrant and one warrant to purchase one share of common
stock. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">These securities will be issued pursuant to a securities purchase agreement between each of the investors and us. You should review the
securities purchase agreement, which will be filed as an exhibit to a Current Report on Form 8-K filed with the Securities and Exchange Commission (SEC) in connection with this offering, for a complete description of the terms and conditions of the
securities purchase agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Common Stock </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The
material terms and provisions of our common stock and each other class of our securities that qualifies or limits our common stock are described under the caption &#147;Description of Capital Stock&#148; starting on page 8 of the accompanying
prospectus. As of March&nbsp;31, 2015, we had 114,097,357 shares of our common stock outstanding, which does not include 2,401,292 additional shares of common stock sold under the ATM and outstanding as of April&nbsp;8, 2015, 625,002 shares issued
in connection with the conversion of our Series A 3.6% Convertible Preferred Stock and 8,639,965 additional shares of common stock issued in connection with warrant exercises as of May&nbsp;1, 2015. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:3%; font-size:10pt; font-family:ARIAL"><B>Warrants </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The following brief summary of the
material terms and provisions of the warrants is subject to, and qualified in its entirety by, the form of warrant. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL"><B>Exercisability.</B>&nbsp;&nbsp;&nbsp;&nbsp;The warrants to be issued as part of the Units sold in the Initial Closing will be exercisable at any time
and from time to time after the date that is six months from the date of issuance and will expire five years from the date it first becomes exercisable. The warrants to be issued as part of the Second Closing will be immediately exercisable and will
expire five years from the date it first becomes exercisable. The warrants will be exercisable, at the option of each holder, in whole or in part by delivering to us a duly executed exercise notice and payment in full for the number of shares of our
common stock purchased upon such exercise, except in the case of a cashless exercise as discussed below. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL"><B>Cashless
Exercise.</B>&nbsp;&nbsp;&nbsp;&nbsp;If at the time of exercise there is no effective registration statement registering, or the prospectus contained therein is not available for issuance of, the shares issuable upon exercise of the warrant, the
holder may exercise the warrant on a cashless basis. When exercised on a cashless basis, a portion of the warrant is cancelled in payment of the purchase price payable in respect of the number of shares of our common stock purchasable upon such
exercise. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL"><B>Exercise Price.</B>&nbsp;&nbsp;&nbsp;&nbsp;Each Unit warrant represents the right to purchase one share of common stock. The warrants
to be issued as part of the Units sold in the Initial Closing will have an exercise price of </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">S-18 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">
$1.02 per share. Warrants to be issued as part of the Units to be sold in the Second Closing will have an exercise price equal to 120% of the quotient of the sum of the VWAP for the Common Stock
as of each trading day during the five consecutive trading day period ending and including the trading day ended immediately prior to the date of the Second Closing, divided by five, but in no event greater than $1.02&nbsp;per share. The exercise
price per share is in each case subject to adjustment for stock dividends, distributions, subdivisions, combinations, or reclassifications, and for certain dilutive issuances. Subject to limited exceptions, a holder of warrants will not have the
right to exercise any portion of the warrant to the extent that, after giving effect to the exercise, the holder, together with its affiliates, would beneficially own in excess of 9.99% of the number of shares of our common stock outstanding
immediately after giving effect to its exercise. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL"><B>Fundamental Transactions.</B>&nbsp;&nbsp;&nbsp;&nbsp;In the event we effect certain mergers,
consolidations, sales of substantially all of our assets, tender or exchange offers, recapitalization, reclassification or share exchange in which our common stock is effectively converted into or exchanged for other securities, cash or property, we
consummate a business combination in which another person acquires 50% of the outstanding shares of our common stock, or any person or group becomes the beneficial owner of 50% of the aggregate ordinary voting power represented by our issued and
outstanding common stock, then, upon any subsequent exercise of the warrants, the holders of warrants will have the right to receive any shares of the acquiring corporation or other consideration it would have been entitled to receive if it had been
a holder of the number of shares of common stock then issuable upon exercise in full of the warrants. If such a transaction (1)&nbsp;is an all cash transaction, (2)&nbsp;is a &#147;Rule 13e-3 transaction&#148; as defined in Rule 13e-3 under the
Exchange Act, or (3)&nbsp;involves a person or entity not traded on a national securities exchange, we or the successor entity will, at the holder&#146;s option, purchase the warrant from the holder for an amount of cash equal to the Black-Scholes
value of the remaining unexercised portion of the warrant on the date of the consummation of the transaction. Upon the consummation of such a transaction, the successor entity shall succeed to, and be substituted for and may exercise every right and
power of the Company and shall assume all of the obligations of the Company under the warrant. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL"><B>Transferability.</B>&nbsp;&nbsp;&nbsp;&nbsp;Subject to applicable laws, a holder may transfer a warrant upon surrender of the warrant to us with a
completed and signed assignment in the form attached to the warrant. The transferring holder will be responsible for any tax that liability that may arise as a result of the transfer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL"><B>Exchange Listing</B><B>.</B>&nbsp;&nbsp;&nbsp;&nbsp;There is no established public trading market for the warrants, and we do not expect a market to
develop. In addition, we do not intend to apply for listing of the warrants on any securities exchange or recognized trading system. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL"><B>Rights as
Stockholder</B><B>.</B>&nbsp;&nbsp;&nbsp;&nbsp;Except as set forth in the warrant, the holder of a warrant, solely in such holder&#146;s capacity as a holder of a warrant, will not be entitled to vote, to receive dividends, or to any of the other
rights of our stockholders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL"><B>Amendments and Waivers</B><B>.</B>&nbsp;&nbsp;&nbsp;&nbsp;The provisions of each warrant may be modified or amended
or the provisions thereof waived with the written consent of us and the holder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Pre-Paid Warrant </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The following brief summary of the material terms and provisions of the pre-paid warrants is subject to, and qualified in its entirety by, the form of
pre-paid warrant. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL"><B>Exercisability</B><B>.</B>&nbsp;&nbsp;&nbsp;&nbsp;Each pre-paid warrant will be immediately exercisable and will expire five
years from the date it first becomes exercisable. The pre-paid warrants will be exercisable, at the option of each holder, in whole or in part by delivering to us a duly executed exercise notice for the number of shares of our common stock purchased
upon such exercise. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">S-19 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL"><B>Exercise Price</B><B>.</B>&nbsp;&nbsp;&nbsp;&nbsp;Each pre-paid warrant represents the right to purchase
one share of common stock. The pre-paid warrants to be issued as part of the Units sold in the Second Closing will have an exercise price equal to 90% of the quotient of the sum of the VWAP for the Common Stock as of each trading day during the five
consecutive trading day period ending and including the trading day ended immediately prior to the date of the Second Closing, divided by five, but in no event greater than $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share. The exercise
price of the pre-paid warrant will be pre-paid to the Company on or prior to the initial issuance date and, consequently, no additional consideration shall be required to be paid by the holder to any person to effect any exercise of the pre-paid.
Subject to limited exceptions, a holder of pre-paid warrants will not have the right to exercise any portion of the pre-paid warrant to the extent that, after giving effect to the exercise, the holder, together with its affiliates, would
beneficially own in excess of 9.99% of the number of shares of our common stock outstanding immediately after giving effect to its exercise. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL"><B>Fundamental Transactions</B><B>.&nbsp;&nbsp;&nbsp;&nbsp;</B>In the event we effect certain mergers, consolidations, sales of substantially all of our
assets, tender or exchange offers, recapitalization, reclassification or share exchange in which our common stock is effectively converted into or exchanged for other securities, cash or property, we consummate a business combination in which
another person acquires 50% of the outstanding shares of our common stock, or any person or group becomes the beneficial owner of 50% of the aggregate ordinary voting power represented by our issued and outstanding common stock, then, upon any
subsequent exercise of the pre-paid warrants, the holders of pre-paid warrants will have the right to receive any shares of the acquiring corporation or other consideration it would have been entitled to receive if it had been a holder of the number
of shares of common stock then issuable upon exercise in full of the pre-paid warrants. Upon the consummation of such a transaction, the successor entity shall succeed to, and be substituted for and may exercise every right and power of the Company
and shall assume all of the obligations of the Company under the pre-paid warrant. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL"><B>Transferability</B><B>.</B>&nbsp;&nbsp;&nbsp;&nbsp;Subject to
applicable laws, a holder may transfer a pre-paid warrant upon surrender of the pre-paid warrant to us with a completed and signed assignment in the form attached to the pre-paid warrant. The transferring holder will be responsible for any tax that
liability that may arise as a result of the transfer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL"><B>Exchange Listing</B><B>.</B>&nbsp;&nbsp;&nbsp;&nbsp;There is no established public trading
market for the pre-paid warrants, and we do not expect a market to develop. In addition, we do not intend to apply for listing of the pre-paid warrants on any securities exchange or recognized trading system. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL"><B>Rights as Stockholder</B><B>.</B>&nbsp;&nbsp;&nbsp;&nbsp;Except as set forth in the pre-paid warrant, the holder of a pre-paid warrant, solely in
such holder&#146;s capacity as a holder of a pre-paid warrant, will not be entitled to vote, to receive dividends, or to any of the other rights of our stockholders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL"><B>Amendments and Waivers</B><B>.</B>&nbsp;&nbsp;&nbsp;&nbsp;The provisions of each pre-paid warrant may be modified or amended or the provisions
thereof waived with the written consent of us and the holder. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">S-20 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_27"></A>PLAN OF DISTRIBUTION </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Mizuho Securities USA Inc., Roth Capital Partners, LLC, Maxim Group LLC and WBB Securities, LLC, which we refer to as the placement agents, have agreed
to act as the placement agents in connection with this offering subject to the terms and conditions of a placement agency agreement. The placement agents may engage selected dealers to assist in the placement of the Units. The placement agents are
not purchasing or selling any of the Units offered by this prospectus supplement and the accompanying prospectus, nor are they required to arrange the purchase or sale of any specific number or dollar amount of the Units. The placement agents have
agreed to use their commercially reasonable efforts to arrange for the sale of Units offered hereby. We will enter into one or more subscription agreements directly with investors in connection with this offering and we may not sell the entire
amount of the Units offered pursuant to this prospectus supplement and the accompanying prospectus. The purchase price for the Units has been determined based upon arm&#146;s-length negotiations between the purchasers and us. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The below table indicates the number of Units with respect to the Initial Closing contemplated to be placed by each placement agent: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="94%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="73%"></TD>
<TD VALIGN="bottom" WIDTH="16%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:80.15pt; font-size:8pt; font-family:ARIAL"><B>PLACEMENT AGENT</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>NUMBER&nbsp;OF&nbsp;UNITS&nbsp;PLACED</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Mizuho Securities USA Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21,548,580</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Roth Capital Partners, LLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,514,001</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Maxim Group, LLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">718,286</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">WBB Securities, LLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">359,143</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Total:</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25,140,010</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Commissions and Expenses </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We
have agreed to pay the placement agents an aggregate cash placement fee equal to 7.0% percent of the gross proceeds received by us for this offering. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The following table shows per Unit and total cash placement agents&#146; fees we will pay to the placement agents in connection with the sale of the
Units offered pursuant to this prospectus supplement and the accompanying prospectus assuming the purchase of all of the Units offered hereby, assuming consummation of both the Initial Closing and the Second Closing and that the offering price per
Unit with respect to Units sold in the Second Closing is the same as the offering price per Unit with respect to Units sold in the Initial Closing: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="94%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="84%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Per Unit</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0539</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Total</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,355,046.54</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Because there is no minimum offering amount required as a condition to closing in this offering, the actual total
offering commissions, if any, are not presently determinable and may be substantially less than the maximum amount set forth above. Further, there can be no assurance that the Second Closing will occur and, if it does occur, the offering price per
Unit sold in the Second Closing may be less than the offering price per Unit sold in the Initial Closing. The failure of the Second Closing to occur, or the sale of Units in the Second Closing at a price that is less than the price at which Units
are sold in the Initial Closing, would also reduce the offering commissions payable to the placement agents in connection with this offering. In connection with the offering being made by this prospectus, we have reimbursed and will reimburse the
placement agents for certain legal fees and disbursements incurred by it that may be deemed to be in connection with this offering. The aggregate amount of such reimbursements will not exceed 1% of the public offering price of the Units offered by
this prospectus. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Our obligation to issue and sell the Units to the purchasers is subject to the conditions set forth in the subscription
agreements, which may be waived by us at our discretion. The purchasers&#146; obligation </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">S-21 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">
to purchase the Units is subject to the conditions set forth in the subscription agreements as well, which may also be waived. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We currently anticipate that the sale of the Units to be sold in the Initial Closing will be completed on or about May 8, 2015. We anticipate that the
Second Closing would occur within 5&nbsp;business days of receipt of shareholder approval, subject to satisfaction of the other conditions for completing the Second Closing. We estimate the total offering expenses of this offering that will be
payable by us, excluding the placement agents&#146; fee, will be approximately $525,000, which includes legal and printing costs, various other fees and reimbursement of the placements agents&#146; expenses. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Indemnification </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We have agreed to indemnify the placement
agents against certain liabilities, including liabilities under the Securities Act. We have also agreed to contribute to payments the placement agents may be required to make in respect of such liabilities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Lock-up Agreements </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We and our executive officers and
directors have agreed with the placement agents, subject to certain exceptions, for a period of 90 days after the date of this prospectus, not to offer, sell,&nbsp;contract to sell, hypothecate, pledge or otherwise dispose of (or enter into any
transaction which is designed to, or might reasonably be expected to, result in the disposition of), directly or indirectly any common shares or any securities convertible into or exchangeable for our common shares either owned as of the date hereof
or thereafter acquired. This 90-day period may be extended if (1)&nbsp;during the last 17 days of the 90-day period, we issue an earnings release or material news or a material event regarding us occurs or (2)&nbsp;prior to the expiration of the
90-day period, we announce that we will release earnings results during the 16-day period beginning on the last day of the 90-day period, then the period of such extension will be 18-days, beginning on the issuance of the earnings release or the
occurrence of the material news or material event. Mizuho Securities USA Inc. may, in its sole discretion and at any time or from time to time before the termination of the lock-up period, without notice, release all or any portion of the securities
subject to lock-up agreements. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">These restrictions on our ability to issue securities during the lock-up period are subject to exceptions for
(i)&nbsp;the issuance of securities sold in this offering, (ii)&nbsp;the issuance of shares of common stock upon the exercise of outstanding options or warrants and the vesting of restricted stock units, (iii)&nbsp;the issuance of director or
employee benefit plans, qualified stock options plans or other employee compensation plans and (iv)&nbsp;the issuance of warrants to lenders in connection with the restructuring of any of our indebtedness to the extent such warrants are permitted to
be issued pursuant to the subscription agreements with investors in connection with the offering made pursuant to this prospectus. These restrictions on future dispositions of securities by our directors and officers are subject to exceptions for
transfers (i)&nbsp;to persons who execute and deliver to Mizuho Securities USA Inc. a lock-up agreement for the remainder of the lock-up period if the transfer is (a)&nbsp;a bona fide gift or gifts, (b)&nbsp;to any trust for such person&#146;s
direct or indirect benefit or that of an immediate family member, or (c)&nbsp;by will or intestacy, or (ii)&nbsp;pursuant to contracts, instructions or plans complying with Rule 10b5-1 under the Exchange Act that has been entered into by such person
prior entering into the lock-up agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We and our executive officers and directors have also agreed to certain lock-up restrictions pursuant to
the terms of the securities purchase agreements to be entered into by us with investors in connection with this offering. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Electronic Distribution </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">This prospectus supplement and the accompanying prospectus may be made available in electronic format on websites or through other online services
maintained by the placement agents, or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">S-22 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">
by any of their respective affiliates. Other than this prospectus supplement and the accompanying prospectus in electronic format, the information on the placement agents&#146; website and any
information contained in any other website maintained by the placement agents is not part of this prospectus supplement and the accompanying prospectus or the registration statement of which this prospectus supplement and the accompanying prospectus
form a part, has not been approved and/or endorsed by us or the placement agents, and should not be relied upon by investors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The foregoing does
not purport to be a complete statement of the terms and conditions of the placement agency agreement or subscription agreements, copies of which will be included as exhibits to our current report on Form&nbsp;8-K that will be filed with the SEC and
incorporated by reference into the registration statement of which this prospectus supplement forms a part. See &#147;Where To Find Additional Information&#148; on page&nbsp;S-16 of this prospectus supplement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Regulation M Restrictions </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The placement agents may be deemed
to be underwriters within the meaning of Section&nbsp;2(a)(11) of the Securities Act, and any commissions received by it and any profit realized by it in connection with the placement of the Units might be deemed to be underwriting discounts or
commissions under the Securities Act. As underwriters, the placement agents would be required to comply with the requirements of Regulation M under the Exchange Act. These rules and regulations may limit the timing of purchases and sales of
securities offered hereby by the placement agents. Under these rules&nbsp;and regulations, the placement agents: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">must not engage in any stabilization activity in connection with our securities; and</TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">must not bid for or purchase any of our securities or attempt to induce any person to purchase any of our securities, </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">in each case other than as permitted under the Exchange Act, until it has completed its participation in the distribution.</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Passive Market Making </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">In connection with this Offering, the
placement agents and any selling group members may engage in passive market making transactions in our common stock on the NASDAQ Global Market in accordance with Rule&nbsp;103 of Regulation M under the Exchange Act during a period before the
commencement of offers or sales of the common stock and extending through the completion of the distribution. A passive market maker must display its bid at a price not in excess of the highest independent bid of that security. However, if all
independent bids are lowered below the passive market maker&#146;s bid, that bid must then be lowered when specified purchase limits are exceeded. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Other
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">From time to time, the placement agents and their respective affiliates have provided, and may in the future provide, various investment
banking, financial advisory and other services to us and our affiliates for which services they have received, and may in the future receive, customary fees. In the course of its businesses, the placement agents and their respective affiliates may
actively trade our securities, related derivative instruments or loans for their own account or for the accounts of customers, and, accordingly, the placement agents and their respective affiliates may at any time hold long or short positions in
such securities, related derivative instruments or loans. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Listing </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Our common stock is listed on The NASDAQ Global Market under the symbol &#147;CYTX.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Transfer Agent </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The transfer agent for our common stock is
ComputerShare Investor Services, LLC. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">S-23 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_28"></A>LEGAL MATTERS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The validity of the securities offered hereby will be passed upon for us by DLA Piper LLP (US), San Diego, California. The placement agents are being
represented in connection with this offering by Gibson, Dunn&nbsp;&amp; Crutcher LLP, New York, New York. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_29"></A>EXPERTS
</B></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The consolidated financial statements and schedule of Cytori Therapeutics, Inc. as of December&nbsp;31, 2014 and 2013, and for each of the
years in the three-year period ended December&nbsp;31, 2014, and management&#146;s assessment of the effectiveness of internal control over financial reporting as of December&nbsp;31, 2014, have been incorporated by reference herein and in the
registration statement in reliance upon the reports of KPMG LLP, independent registered public accounting firm, incorporated by reference herein, and upon the authority of said firm as experts in accounting and auditing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The audit report covering the December&nbsp;31, 2014 consolidated financial statements contains an explanatory paragraph that states that the
Company&#146;s recurring losses from operations, liquidity position, and debt service requirements raises substantial doubt about its ability to continue as a going concern. The consolidated financial statements and financial statement schedule do
not include any adjustments that might result from the outcome of that uncertainty. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_30"></A>WHERE YOU CAN FIND ADDITIONAL
INFORMATION </B></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We file annual, quarterly and current reports, proxy statements and other information with the SEC. You may read and copy any
reports, statements and other information filed by us at the SEC&#146;s Public Reference Room at 100 F Street, N.E., Washington, D.C. 20549. Please call (800)&nbsp;SEC-0330 for further information on the Public Reference Room. The SEC maintains an
Internet website that contains reports, proxy and information statements and other information regarding issuers, including us, that file electronically with the SEC. The address for the SEC&#146;s website is <I>http://www.sec.gov</I>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We make available, free of charge, through our investor relations website, our Annual Reports on Form&nbsp;10-K, Quarterly Reports on Form 10-Q, Current
Reports on Form 8-K, statements of changes in beneficial ownership of securities and amendments to those reports and statements as soon as reasonably practicable after they are filed with the SEC. The address for our website is<I>
www.cytori.com</I>. The contents on our website are not part of this prospectus, and the reference to our website does not constitute incorporation by reference into this prospectus of the information contained at that site. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_31"></A>INCORPORATION OF CERTAIN INFORMATION BY REFERENCE </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The SEC allows us to incorporate by reference the information we file with it, which means that we can disclose important information to you by
referring you to another document that we have filed separately with the SEC. You should read the information incorporated by reference because it is an important part of this prospectus supplement. We incorporate by reference the following
information or documents that we have filed with the SEC (excluding those portions of any Form 8-K that are not deemed &#147;filed&#148; pursuant to the General Instructions of Form 8-K): </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Our Annual Report on Form 10-K for the year ended December&nbsp;31, 2014, filed with the SEC on March&nbsp;16, 2015; </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">S-24 </P>


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<TD WIDTH="3%">&nbsp;</TD>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Our Current Reports on Form 8-K filed with the SEC on January&nbsp;8, 2015,&nbsp;March&nbsp;12, 2015,&nbsp;March&nbsp;18, 2015,&nbsp;April&nbsp;6, 2015, and April&nbsp;13, 2015; and </TD></TR></TABLE>
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<TD WIDTH="3%">&nbsp;</TD>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The description of our common stock contained in our registration statement on Form 10/A filed with the SEC on July&nbsp;16, 2001 (File No. 000-32501). </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">All reports and other documents we subsequently file pursuant to Section&nbsp;13(a), 13(c), 14 or 15(d) of the Exchange Act prior to the termination of
this offering, including all such documents we may file with the SEC after the date hereof and prior to termination of this offering, but excluding any information furnished to, rather than filed with, the SEC, will also be incorporated by reference
into this prospectus supplement and deemed to be part of this prospectus supplement from the date of the filing of such reports and documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Any
statement contained in any document incorporated by reference herein will be deemed to be modified or superseded for purposes of this prospectus supplement to the extent that a statement contained in this prospectus supplement or any additional
prospectus supplements modifies or supersedes such statement. Any statement so modified or superseded will not be deemed, except as so modified or superseded, to constitute a part of this prospectus supplement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We will provide without charge to each person, including any beneficial owner, to whom this prospectus supplement is delivered, upon written or oral
request, a copy of any or all documents that are incorporated by reference into this prospectus supplement, but not delivered with the prospectus supplement, other than exhibits to such documents unless such exhibits are specifically incorporated by
reference into the documents that this prospectus supplement incorporates. You should direct written requests to: Cytori Therapeutics, Inc., 3020 Callan Road, San Diego, CA 92121, Attn: Investor Relations, or you may call us at (858)&nbsp;458-0900.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">S-25 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>PROSPECTUS </B></P> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:3.00pt solid #334998">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g921202g95z22.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:16pt; margin-bottom:0pt; font-size:18pt; font-family:ARIAL" ALIGN="center"><B>C<SMALL>YTORI</SMALL> T<SMALL>HERAPEUTICS</SMALL>, I<SMALL>NC</SMALL>. </B></P>
<P STYLE="margin-top:16pt; margin-bottom:0pt; font-size:14pt; font-family:ARIAL" ALIGN="center"><B>$100,000,000 </B></P> <P STYLE="margin-top:16pt; margin-bottom:0pt; font-size:14pt; font-family:ARIAL" ALIGN="center"><B>Common Stock </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:ARIAL" ALIGN="center"><B>Preferred Stock </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:ARIAL" ALIGN="center"><B>Debt Securities </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:ARIAL" ALIGN="center"><B>Warrants </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:ARIAL" ALIGN="center"><B>Units </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">We may from time to time offer to sell any combination of the securities described in this prospectus, either individually or in units, in one or more offerings. The
aggregate initial offering price of all securities sold under this prospectus will not exceed $100,000,000. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">This prospectus provides a general description of the
securities we may offer. Each time we sell securities, we will provide specific terms of the securities offered in a supplement to this prospectus. We may also authorize one or more free writing prospectuses to be provided to you in connection with
these offerings. The prospectus supplement and any related free writing prospectus may also add, update or change information contained in this prospectus. You should carefully read this prospectus, the applicable prospectus supplement and any
related free writing prospectus, as well as any documents incorporated by reference herein or therein before you invest in any securities. This prospectus may not be used to consummate a sale of securities unless accompanied by the applicable
prospectus supplement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Our common stock is listed on The NASDAQ Global Market under the symbol &#147;CYTX.&#148; On May&nbsp;8, 2014, the last reported sale price
for our common stock was $2.20 per share. The applicable prospectus supplement will contain information, where applicable, as to any other listing on The NASDAQ Global Market or any securities market or other exchange of the securities, if any,
covered by the prospectus supplement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Investing in our securities involves risks. See &#147;<A HREF="#toc921202_3">Risk Factors</A>&#148; beginning on page 7.
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">We may sell these securities directly to investors, through agents designated from time to time or to or through underwriters or dealers. For additional
information on the methods of sale, you should refer to the section entitled &#147;Plan of Distribution&#148; in this prospectus. If any underwriters are involved in the sale of any securities with respect to which this prospectus is being
delivered, the names of such underwriters and any applicable commissions or discounts will be set forth in a prospectus supplement. The price to the public of such securities and the net proceeds we expect to receive from such sale will also be set
forth in a prospectus supplement. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:26%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><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="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">The date of this prospectus is May 22, 2014. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>TABLE OF CONTENTS </B></P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD></TD>
<TD></TD></TR>
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<TD VALIGN="bottom" COLSPAN="2" ALIGN="center"><B>Page</B></TD>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_1">ABOUT THIS PROSPECTUS</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_2">SUMMARY</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_3">RISK FACTORS</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_4">SPECIAL NOTE&nbsp;REGARDING FORWARD-LOOKING INFORMATION</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_5">STATEMENT OF COMPUTATION OF RATIOS</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_6">USE OF PROCEEDS</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_7">DESCRIPTION OF SECURITIES WE MAY OFFER</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_8">DESCRIPTION OF CAPITAL STOCK</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_9">DESCRIPTION OF DEBT SECURITIES</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_10">DESCRIPTION OF WARRANTS</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_11">DESCRIPTION OF UNITS</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_12">LEGAL OWNERSHIP OF SECURITIES</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_13">PLAN OF DISTRIBUTION</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_14">LEGAL MATTERS</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_15">EXPERTS</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_16">WHERE YOU CAN FIND ADDITIONAL INFORMATION</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc921202_17">INCORPORATION OF CERTAIN INFORMATION BY REFERENCE</A></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_1"></A>ABOUT THIS PROSPECTUS </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">This prospectus is a part of a registration statement that we filed with the Securities and Exchange Commission, or SEC, utilizing a &#147;shelf&#148;
registration process. Under this shelf registration process, we may sell any combination of the securities described in this prospectus in one or more offerings up to a total dollar amount of $100,000,000. This prospectus provides you with a general
description of the securities we may offer. Each time we sell securities under this shelf registration, we will provide a prospectus supplement that will contain specific information about the terms of that offering. We may also authorize one or
more free writing prospectuses to be provided to you that may contain material information relating to these offerings. The prospectus supplement and any related free writing prospectus that we may authorize to be provided to you may also add,
update or change information contained in this prospectus or in any documents that we have incorporated by reference into this prospectus. You should read this prospectus, any applicable prospectus supplement and any related free writing prospectus,
together with the information incorporated herein by reference as described under the heading &#147;Where You Can Find Additional Information.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">You should rely only on the information that we have provided or incorporated by reference in this prospectus, any applicable prospectus supplement and
any related free writing prospectus that we may authorize to be provided to you. We have not authorized any dealer, salesman or other person to give any information or to make any representation other than those contained or incorporated by
reference in this prospectus, any applicable prospectus supplement or any related free writing prospectus that we may authorize to be provided to you. You must not rely upon any information or representation not contained or incorporated by
reference in this prospectus, the accompanying prospectus supplement or related free writing prospectus. We take no responsibility for, and can provide no assurance as to the reliability of, any other information that others may give you. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">This prospectus, the accompanying supplement to this prospectus and any related free writing prospectus, if any, 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, the accompanying supplement to this prospectus or any related free writing prospectus, if any, 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. You should not assume that the information contained in this prospectus, any
applicable prospectus supplement or any related free writing prospectus is accurate on any date subsequent to the date set forth on the front of the document or that any information we have incorporated by reference therein is correct on any date
subsequent to the date of the document incorporated by reference, even though this prospectus, any applicable prospectus supplement or any related free writing prospectus is delivered or the applicable securities are sold on a later date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">1 </P>


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<div style ="BORDER-BOTTOM:1px solid #000000;BORDER-LEFT:1px solid #000000;BORDER-RIGHT:1px solid #000000;BORDER-TOP:1px solid #000000;MARGIN-LEFT:0px;MARGIN-RIGHT:0px;WIDTH:100%"><div style="width:97%; margin-top:1.5%; margin-left:1.5%; margin-right:-1.25%">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_2"></A>SUMMARY </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL"><I>This summary highlights selected information from this prospectus and the documents incorporated herein by reference and does not contain all of the
information that you need to consider in making your investment decision. You should carefully read the entire prospectus, including the risks of investing in our securities discussed under &#147;Risk Factors&#148; beginning on page 6 of this
prospectus, the information incorporated herein by reference, including our financial statements, and the exhibits to the registration statement of which this prospectus is a part. All references in this prospectus to &#147;we,&#148; &#147;us,&#148;
&#147;our,&#148; &#147;Cytori,&#148; the &#147;Company&#148; and similar designations refer to Cytori Therapeutics, Inc. and its consolidated subsidiaries, unless otherwise indicated or as the context otherwise requires. </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Our Business </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We are a cell therapy company dedicated to the
development of novel treatments primarily for cardiovascular disease as well as for a range of soft tissue injuries. In the U.S. our goal is to bring Cytori Cell Therapy to market for treatment of heart failure due to ischemic heart disease through
Cytori-sponsored clinical development efforts and to develop a treatment for thermal burns combined with radiation injury under a contract from BARDA, a division of the U.S. Department of Health and Human Services. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Cytori Cell Therapy is a proprietary formulation of stem and regenerative cells derived from a patient&#146;s own adipose (fat) tissue
(&#147;ADRCs&#148;). Adipose tissue is a rich and accessible source of stem and other regenerative cells. To access these cells from a patient at the time of a surgical procedure, we have designed and developed a sophisticated tissue processing
system, the Celution<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP> System, which automates the complex process of digesting fat tissue, releasing the ADRCs, and concentrating them into an optimized and proprietary formulation in a
sterile environment. The system is comprised of a central device and single-use, per-procedure consumable cartridges. The business model is based on the sale of the device and generating recurring revenue from the cartridges that are utilized in
each procedure. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:ARIAL">In addition to our targeted therapeutic development, we have continued to commercialize the Celution<SUP
STYLE="font-size:85%; vertical-align:top">&reg;</SUP> System under select medical device clearances to research customers developing new therapeutic applications for Cytori Cell Therapy in Europe, Japan, and other regions. The early sales of
systems, consumables and ancillary products contributes margins that partially offset our operating expenses and play an important strategic role in fostering familiarity within the medical community with our technology. These sales have also
facilitated the discovery of new applications for Cytori Cell Therapy by customers conducting investigator-initiated and funded research. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B><I>Development
Pipeline </I></B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The primary therapeutic areas currently within our development pipeline are cardiovascular disease, specifically heart failure due
to ischemic heart disease, the treatment of thermal burns, and orthopedics and sports medicine indications. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">In the U.S., we are conducting our
ATHENA trial, a prospective, double blind, placebo-controlled, multi-center trial in up to 45 patients with ischemic heart disease. The trial will measure several endpoints, including peak oxygen consumption (&#147;VO<SUB
STYLE="font-size:85%; vertical-align:bottom">2</SUB> max&#148;). Additional endpoints include perfusion defect, left ventricle end-systolic and diastolic volume and ejection fraction at six and 12 months, NYHA functional class and health-related
quality of life. Recently, the Food and Drug Administration (&#147;FDA&#148;) approved expanding the ATHENA trial from six trial centers to ten centers. The ATHENA II trial, which is studying a higher cell dose has recently been initiated at the
first clinical site. Enrollment of 45 </P>
 <P STYLE="margin-top:0pt;margin-bottom:0pt; font-size:8pt">&nbsp;</P></div></div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">
patients at up to 12 centers is planned, which includes most of the centers in ATHENA I. We currently have one site initiated for ATHENA II, and we expect the ATHENA I sites to immediately roll
over to ATHENA II, once ATHENA I enrollment is complete. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">ADVANCE is our European clinical trial for acute myocardial infarction (heart attack). As
part of a comprehensive evaluation of our global cardiovascular strategy, resource utilization and development priorities, we have discontinued enrollment in the ADVANCE trial as of September 30, 2013. All evidence to date supports the current,
known safety profile for Cytori&#146;s Cell Therapy and the patients enrolled in the trial will continue to be followed according to the protocol. The outcomes will be fully analyzed in conjunction with the existing safety and feasibility data from
the APOLLO acute myocardial infarction trial. We will focus our internal and financial resources on the highest clinical development priority, which is the expanded U.S. ATHENA trial. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We have completed two European pilot trials (PRECISE and APOLLO) investigating Cytori&#146;s Cell Therapy for cardiovascular disease. The PRECISE trial
studied patients with chronic myocardial ischemia and demonstrated feasibility and safety of Cytori&#146;s Cell Therapy as well as an improvement in cardiac functional capacity as measured by
VO<SUB STYLE="font-size:85%; vertical-align:bottom">2</SUB> max. Results from the APOLLO trial for acute heart attack demonstrated the safety and feasibility of Cytori Cell Therapy in this population but the size of the pilot trial was not
sufficient to comment definitively on efficacy. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">In addition to our cardiovascular disease therapeutic pipeline, Cytori is also developing its cell
therapy platform for the treatment of thermal burns combined with radiation injury, sports medicine and orthopedics. In the third quarter of 2012, we were awarded a contract to develop a new countermeasure for thermal burns valued at up to $106
million with the U.S. Department of Health and Human Service&#146;s Biomedical Advanced Research and Development Authority (&#147;BARDA&#148;). The initial base period includes $4.7 million over two years and covers preclinical research and
continued development of Cytori&#146;s Celution<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP> System to improve cell processing. The additional contract options, if fully executed, could cover our clinical development through FDA
approval under a device-based PMA regulatory pathway. We believe we have fulfilled the required milestones of the base contract and we are awaiting final BARDA&#146;s decision on the exercise of the first contract option. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We also received FDA approval in late 2013 to conduct a safety and feasibility clinical trial in patients with acute hamstring tears in order to
evaluate the effect of Cytori Cell Therapy on healing in muscle injury. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B><I>Corporate Information </I></B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We were initially formed as a California general partnership in July 1996, and incorporated in the State of Delaware in May 1997. We were formerly known
as MacroPore Biosurgery, Inc., and before that as MacroPore, Inc. Our corporate offices are located at 3020 Callan Road, San Diego, CA 92121. Our telephone number is (858)&nbsp;458-0900. We maintain an Internet website at www.cytori.com. Through
this site, we make available free of charge our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and amendments to those reports filed or furnished pursuant to Section&nbsp;13(a) of the Securities Exchange
Act of 1934, as amended (the &#147;Exchange Act&#148;) as soon as reasonably practicable after we electronically file such material with, or furnish it to, the SEC. In addition, we publish on our website all reports filed under Section&nbsp;16(a) of
the Exchange Act by our directors, officers and 10% stockholders. The information found on our Internet site is not part of this prospectus. </P>
 <P STYLE="margin-top:0pt;margin-bottom:0pt; font-size:8pt">&nbsp;</P></div></div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B><I>Securities We May Offer </I></B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We may offer shares of our common stock and preferred stock, various series of debt securities and warrants to purchase any of such securities, either
individually or in units, from time to time under this prospectus, together with any applicable prospectus supplement and related free writing prospectus, at prices and on terms to be determined by market conditions at the time of offering. This
prospectus provides you with a general description of the securities we may offer. Each time we offer a type or series of securities, we will provide a prospectus supplement that will describe the specific amounts, prices and other important terms
of the securities, including, to the extent applicable: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">designation or classification; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">aggregate principal amount or aggregate offering price; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">maturity, if applicable; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">original issue discount, if any; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">rates and times of payment of interest or dividends, if any; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">redemption, conversion, exchange or sinking fund terms, if any; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">conversion or exchange prices or rates, if any, and, if applicable, any provisions for changes to or adjustments in the conversion or exchange prices or rates and in the securities or other property receivable upon
conversion or exchange; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">ranking; </TD></TR></TABLE>
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<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">restrictive covenants, if any; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">voting or other rights, if any; and </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">important United States federal income tax considerations. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">A prospectus supplement and any related free
writing prospectus that we may authorize to be provided to you may also add, update or change information contained in this prospectus or in documents we have incorporated by reference. However, no prospectus supplement or free writing prospectus
will offer a security that is not registered and described in this prospectus at the time of the effectiveness of the registration statement of which this prospectus is a part. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We may sell the securities directly to or through underwriters, dealers or agents. We, and our underwriters or agents, reserve the right to accept or
reject all or part of any proposed purchase of securities. If we do offer securities through underwriters or agents, we will include in the applicable prospectus supplement: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the names of those underwriters or agents; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">applicable fees, discounts and commissions to be paid to them; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">details regarding over-allotment options, if any; and </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the net proceeds to us. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B><I>Common Stock </I></B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We may offer shares of our common stock, par value $0.001 per share, either alone or underlying other registered securities convertible into or
exercisable for our common stock. Holders of our common stock are entitled dividends as our board of directors may declare from time to time out of legally available funds, subject to the preferential rights of the holders of any shares of our
preferred stock that are outstanding or that we may issue in the future. Currently, we do not pay any dividends and we do not have any issued and outstanding preferred stock. Each holder of our common stock is entitled to one vote per share. In this
prospectus, we provide a general description of, among other things, our dividend policy and the rights and restrictions that apply to holders of our common stock. Our common stock is described in greater detail in this prospectus under
&#147;Description of Capital Stock&#151;Common Stock.&#148; </P>
 <P STYLE="margin-top:0pt;margin-bottom:0pt; font-size:8pt">&nbsp;</P></div></div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">4 </P>


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<div style ="BORDER-BOTTOM:1px solid #000000;BORDER-LEFT:1px solid #000000;BORDER-RIGHT:1px solid #000000;BORDER-TOP:1px solid #000000;MARGIN-LEFT:0px;MARGIN-RIGHT:0px;WIDTH:100%"><div style="width:97%; margin-top:1.5%; margin-left:1.5%; margin-right:-1.25%">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B><I>Preferred Stock </I></B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:ARIAL">We may issue shares of preferred stock in one or more classes or series. Our board of directors or a committee designated by our board of directors will
determine the dividend, voting and conversion rights and other provisions at the time of sale. The particular terms of each class or series of preferred stock, including redemption privileges, liquidation preferences, voting rights, dividend rights
and/or conversion rights, will be more fully described in the applicable prospectus supplement relating to the preferred stock offered thereby. Our preferred stock is described in greater detail in this prospectus under &#147;Description of Capital
Stock&#151;Preferred Stock.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B><I>Debt Securities </I></B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We may offer debt securities from time to time, in one or more series, as either senior or subordinated debt or as senior or subordinated convertible
debt. The senior debt securities will rank equally with any other unsubordinated debt that we may have and may be secured or unsecured. The subordinated debt securities will be subordinate and junior in right of payment, to the extent and in the
manner described in the instrument governing the debt, to all or some portion of our indebtedness. Any convertible debt securities that we issue will be convertible into or exchangeable for our common stock or other securities of ours. Conversion
may be mandatory or at the holder&#146;s option and would be at prescribed conversion rates. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The debt securities will be issued under one or more
documents called indentures, which are contracts between us and a trustee for the holders of the debt securities. In this prospectus, we have summarized certain general features of the debt securities under &#147;Description of Debt
Securities.&#148; We urge you, however, to read the prospectus supplements and any free writing prospectus that we may authorize to be provided to you related to the series of debt securities being offered, as well as the complete indentures that
contain the terms of the debt securities. Forms of indentures have been filed as exhibits to the registration statement of which this prospectus is a part, and supplemental indentures and forms of debt securities containing the terms of debt
securities being offered will be incorporated by reference into the registration statement of which this prospectus is a part from reports we file with the SEC. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B><I>Warrants </I></B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We may from time to time offer warrants for
the purchase of our common stock, preferred stock and/or debt securities in one or more series. We may issue warrants independently or together with common stock, preferred stock and/or debt securities, and the warrants may be attached to or
separate from those securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The warrants will be evidenced by warrant certificates issued under one or more warrant agreements, which are
contracts between us and an agent for the holders of the warrants. In this prospectus, we have summarized certain general features of the warrants under &#147;Description of Warrants.&#148; We urge you, however, to read the prospectus supplements
and any free writing prospectus that we may authorize to be provided to you related to the series of warrants being offered, as well as the complete warrant agreements and warrant certificates that contain the terms of the warrants. Specific warrant
agreements will contain additional important terms and provisions and will be incorporated by reference as an exhibit to the registration statement which includes this prospectus. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B><I>Units </I></B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We may offer units consisting of common stock,
preferred stock, debt securities and/or warrants to purchase any of such securities in one or more series. In this prospectus, we have summarized certain general features of the units under &#147;Description of Units.&#148; We urge you, however, to
read the prospectus supplements and any free writing prospectus that we may authorize to be provided to you </P>
 <P STYLE="margin-top:0pt;margin-bottom:0pt; font-size:8pt">&nbsp;</P></div></div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">5 </P>


<p Style='page-break-before:always'>
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<div style ="BORDER-BOTTOM:1px solid #000000;BORDER-LEFT:1px solid #000000;BORDER-RIGHT:1px solid #000000;BORDER-TOP:1px solid #000000;MARGIN-LEFT:0px;MARGIN-RIGHT:0px;WIDTH:100%"><div style="width:97%; margin-top:1.5%; margin-left:1.5%; margin-right:-1.25%">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">
related to the series of units being offered, as well as the unit agreements that contain the terms of the units. We will file as exhibits to the registration statement of which this prospectus
is a part, or will incorporate by reference from a current report on Form 8-K that we file with the SEC, the form of unit agreement and any supplemental agreements that describe the terms of the series of units we are offering before the issuance of
the related series of units. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We will evidence each series of units by unit certificates that we will issue under a separate agreement. We will
enter into the unit agreements with a unit agent. Each unit agent will be a bank or trust company that we select. We will indicate the name and address of the unit agent in the applicable prospectus supplement relating to a particular series of
units. </P>
 <P STYLE="margin-top:0pt;margin-bottom:0pt; font-size:8pt">&nbsp;</P></div></div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">6 </P>


<p Style='page-break-before:always'>
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<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_3"></A>RISK FACTORS </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Investment in our securities involves risks. Prior to making a decision about investing in our securities, you should consider carefully all of the
information included and incorporated by reference or deemed to be incorporated by reference in this prospectus or the applicable prospectus supplement, including the risk factors incorporated by reference herein from our Annual Report on Form 10-K
for the year ended December&nbsp;31, 2013, as updated by annual, quarterly and other reports and documents we file with the Securities and Exchange Commission (the &#147;SEC&#148;) after the date of this prospectus and that are incorporated by
reference herein or in the applicable prospectus supplement. Each of these risk factors could have a material adverse effect on our business, results of operations, financial position or cash flows, which may result in the loss of all or part of
your investment. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">7 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_4"></A>SPECIAL NOTE&nbsp;REGARDING FORWARD-LOOKING INFORMATION </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">This prospectus and the documents incorporated herein by reference contain forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements are based on our management&#146;s current beliefs, expectations and assumptions about future events, conditions and results and on information currently available to us. Discussions containing these
forward-looking statements may be found, among other places, in the Sections entitled &#147;Business,&#148; &#147;Risk Factors&#148; and &#147;Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations&#148;
incorporated by reference from our most recent Annual Report on Form 10-K and in our Quarterly Reports on Form 10-Q, as well as any amendments thereto, filed with the SEC. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">All statements, other than statements of historical fact, included or incorporated herein regarding our strategy, future operations, financial position,
future revenues, projected costs, plans, prospects and objectives are forward-looking statements. Words such as &#147;expect,&#148; &#147;anticipate,&#148; &#147;intend,&#148; &#147;plan,&#148; &#147;believe,&#148; &#147;seek,&#148;
&#147;estimate,&#148; &#147;think,&#148; &#147;may,&#148; &#147;could,&#148; &#147;will,&#148; &#147;would,&#148; &#147;should,&#148; &#147;continue,&#148; &#147;potential,&#148; &#147;likely,&#148; &#147;opportunity&#148; and similar expressions or
variations of such words are intended to identify forward-looking statements, but are not the exclusive means of identifying forward-looking statements. Additionally, statements concerning future matters such as our anticipated expenditures,
including those related to clinical research studies and general and administrative expenses, the potential size of the market for our products, future development and/or expansion of our products and therapies in our markets, our ability to
generate product revenues or effectively manage our gross profit margins, our ability to obtain regulatory clearance, expectations as to our future performance and other statements regarding matters that are not historical are forward-looking
statements. Such statements are based on currently available operating, financial and competitive information and are subject to various risks, uncertainties and assumptions that could cause actual results to differ materially from those anticipated
or implied in our forward-looking statements due to a number of factors including, but not limited to, those set forth above under the section entitled &#147;Risk Factors&#148; in this prospectus and any accompanying prospectus supplement. Given
these risks, uncertainties and other factors, many of which are beyond our control, you should not place undue reliance on these forward-looking statements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to revise any forward-looking statements to
reflect events or developments occurring after the date of this prospectus, even if new information becomes available in the future. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">8 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_5"></A>RATIO OF EARNINGS TO FIXED CHARGES </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The following table sets forth our consolidated ratio of earnings to fixed charges and our deficiency of earnings to fixed charges for each of the
periods indicated. The Company had no preferred stock outstanding for any period presented, and accordingly its ratio of earnings to combined fixed charges and preferred stock dividends is the same as its ratio of earnings to fixed charges. You
should read this table in conjunction with the consolidated financial statements and notes incorporated by reference in this prospectus. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="55%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="18" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year Ended December&nbsp;31,</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2011</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2010</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2009</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="18" ALIGN="center"><B>(in thousands)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Earnings available to cover fixed charges</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(22,318</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(28,334</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(29,142</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(24,999</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(21,476</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Fixed charges</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,570</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,447</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,697</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,665</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,894</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Ratio of earnings to fixed charges</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Deficiency of earnings to fixed charges</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(26,888</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(31,781</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(32,839</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(27,664</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(23,370</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">9 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_6"></A>USE OF PROCEEDS </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Except as described in any applicable prospectus supplement and in any free writing prospectuses in connection with a specific offering, we currently
intend to use the net proceeds from the sale of the securities offered hereby for general corporate purposes, including the continued development, manufacture, marketing and sale of our Celution&#153; System family of products, including related
research and clinical trials, and other related research and development, sales and marketing, and general administrative expenses, working capital and capital expenditures. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We have not determined the amount of net proceeds to be used specifically for the foregoing purposes. As a result, our management will have broad
discretion in the allocation of the net proceeds and investors will be relying on the judgment of our management regarding the application of the proceeds of any sale of the securities. Pending these uses, we intend to invest the net proceeds in
investment-grade, short-term, interest-bearing securities. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_7"></A>DESCRIPTION OF SECURITIES WE MAY OFFER </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We may offer shares of our common stock and preferred stock, various series of debt securities and warrants to purchase any of such securities, either
individually or in units, from time to time under this prospectus, together with any applicable prospectus supplement and related free writing prospectus, at prices and on terms to be determined by market conditions at the time of offering. This
prospectus provides you with a general description of the securities we may offer. Each time we offer a type or series of securities, we will provide a prospectus supplement that will describe the specific amounts, prices and other important terms
of the securities. We may offer up to $100,000,000 of securities under this prospectus. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">10 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_8"></A>DESCRIPTION OF CAPITAL STOCK </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The following description of our capital stock is not complete and may not contain all the information you should consider before investing in our
capital stock. For the complete terms of our capital stock, please refer to our amended and restated certificate of incorporation, as amended (our &#147;certificate of incorporation&#148;) and our amended and restated bylaws, as amended (our
&#147;bylaws&#148;), that are incorporated by reference into the registration statement of which this prospectus is a part or may be incorporated by reference in this prospectus or any prospectus supplement. The terms of these securities may also be
affected by the Delaware General Corporation Law (the &#147;DGCL&#148;). The summary below and that contained in any prospectus supplement are qualified in their entirety by reference to our amended and restated certificate of incorporation and our
amended and restated bylaws. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Common Stock </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We are
authorized to issue 145,000,000 shares of common stock, of which 75,458,551 shares were issued and outstanding as of April&nbsp;30, 2014. The holders of Common Stock possess exclusive voting rights in us, except to the extent our board of directors
specifies voting power with respect to any other class of securities issued in the future. Each holder of our common stock is entitled to one vote for each share held of record on each matter submitted to a vote of stockholders, including the
election of directors. Stockholders do not have any right to cumulate votes in the election of directors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Subject to preferences that may be
granted to the holders of preferred stock, each holder of our common stock is entitled to share ratably in distributions to stockholders and to receive ratably such dividends as may be declared by our board of directors out of funds legally
available therefor. In the event of our liquidation, dissolution or winding up, the holders of our common stock will be entitled to receive, after payment of all of our debts and liabilities and of all sums to which holders of any preferred stock
may be entitled, the distribution of any of our remaining assets. Holders of our common stock have no conversion, exchange, sinking fund, redemption or appraisal rights (other than such as may be determined by our board of directors in its sole
discretion) and have no preemptive rights to subscribe for any of our securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">All of the outstanding shares of our common stock are, and the
shares of common stock issued upon the conversion of any securities convertible into our common stock will be, fully paid and non-assessable. The shares of common stock offered by this prospectus or upon the conversion of any preferred stock or debt
securities or exercise of any warrants offered pursuant to this prospectus, when issued and paid for, will also be, fully paid and non-assessable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Our common stock is listed on the NASDAQ Global Market under the symbol &#147;CYTX.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Preferred Stock </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We are authorized to issue 5,000,000 shares
of preferred stock, none of which were issued and outstanding as of April&nbsp;30, 2014. Our board is authorized, without action by our stockholders, to classify or reclassify any unissued portion of our authorized shares of preferred stock to
provide for the issuance of shares of other classes or series, including preferred stock in one or more series. Our board may fix or alter the dividend rights, dividend rate, conversion rights, voting rights, rights and terms of redemption
(including sinking fund provisions), the redemption price or prices, the liquidation preferences of any wholly unissued series of Preferred Stock, and the number of shares constituting any such series and the designation thereof, or any of them; and
to increase or decrease the number of shares of any series subsequent to the issue of shares of that series, but not below the number of shares of such series then outstanding. In case the number of shares of any series shall be so decreased, the
shares constituting such decrease shall resume the status which they had prior to the adoption of the resolution originally fixing the number of shares of such series. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">11 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Possible Anti-Takeover Effects of Delaware Law and our Certificate of Incorporation and Bylaws </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B><I>Delaware Anti-Takeover Statute </I></B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We are subject to
Section&nbsp;203 of the DGCL, an anti-takeover statute. In general, Section&nbsp;203 of the DGCL prohibits a publicly held Delaware corporation from engaging in a &#147;business combination&#148; with an &#147;interested stockholder&#148; for a
period of three years following the time the person became an interested stockholder, unless the business combination or the acquisition of shares that resulted in a stockholder becoming an interested stockholder is approved in a prescribed manner.
Generally, a &#147;business combination&#148; includes a merger, asset or stock sale, or other transaction resulting in a financial benefit to the interested stockholder. Generally, an &#147;interested stockholder&#148; 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&#146;s voting stock. The existence of this provision would be expected to have an
anti-takeover effect with respect to transactions not approved in advance by our board of directors, including discouraging attempts that might result in a premium over the market price for the shares of common stock held by our stockholders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B><I>Board Vacancies </I></B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Our bylaws provide that any vacancy
or vacancies in the Board shall be deemed to exist in the case of the death, resignation or removal of any director, or if the authorized number of directors be increased. Vacancies may be filled by a majority of the remaining directors, though less
than a quorum, or by a sole remaining director, unless otherwise provided in the Certificate of Incorporation. The stockholders may elect a director or directors at any time to fill any vacancy or vacancies not filled by the directors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B><I>Undesignated Preferred Stock </I></B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The authority that will
be possessed by our board of directors to issue preferred stock could potentially be used to discourage attempts by third parties to obtain control of our company through a merger, tender offer, proxy contest or otherwise by making such attempts
more difficult or more costly. Our board of directors may issue preferred stock with voting rights or conversion rights that, if exercised, could adversely affect the voting power of the holders of our common stock: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B><I>Special Meeting Requirements </I></B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Our amended and restated
bylaws provide that special meetings of our stockholders may only be called at the request of our president, chief executive officer or chairman of the board or by a majority of our Board of Directors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B><I>No Cumulative Voting </I></B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The DGCL provides that
stockholders are denied the right to cumulate votes in the election of directors unless our certificate of incorporation provides otherwise. Our certificate of incorporation does not provide for cumulative voting. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B><I>Authorized but Unissued Shares </I></B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Our authorized but
unissued shares of common stock and preferred stock will be available for future issuance without stockholder approval. We may use additional shares for a variety of purposes, including future public offerings to raise additional capital, to fund
acquisitions and as employee compensation. The existence of authorized but unissued shares of common stock and preferred stock could render more difficult or discourage an attempt to obtain control of us by means of a proxy contest, tender offer,
merger or otherwise. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The above provisions may deter a hostile takeover or delay a change in control or management of us. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Transfer Agent and Registrar </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The transfer agent and
registrar for our capital stock is ComputerShare Investor Services, LLC. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">12 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_9"></A>DESCRIPTION OF DEBT SECURITIES </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The following description, together with the additional information we include in any applicable prospectus supplements or free writing prospectuses,
summarizes the material terms and provisions of the debt securities that we may offer under this prospectus. We may issue debt securities, in one or more series, as either senior or subordinated debt or as senior or subordinated convertible debt.
While the terms we have summarized below will apply generally to any future debt securities we may offer under this prospectus, we will describe the particular terms of any debt securities that we may offer in more detail in the applicable
prospectus supplement or free writing prospectus. The terms of any debt securities we offer under a prospectus supplement may differ from the terms we describe below. However, no prospectus supplement shall fundamentally change the terms that are
set forth in this prospectus or offer a security that is not registered and described in this prospectus at the time of its effectiveness. As of the date of this prospectus, we have no outstanding registered debt securities. Unless the context
requires otherwise, whenever we refer to the &#147;indentures,&#148; we also are referring to any supplemental indentures that specify the terms of a particular series of debt securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We will issue any senior debt securities under the senior indenture that we will enter into with the trustee named in the senior indenture. We will
issue any subordinated debt securities under the subordinated indenture and any supplemental indentures that we will enter into with the trustee named in the subordinated indenture. We have filed forms of these documents as exhibits to the
registration statement, of which this prospectus is a part, and supplemental indentures and forms of debt securities containing the terms of the debt securities being offered will be filed as exhibits to the registration statement of which this
prospectus is a part or will be incorporated by reference from reports that we file with the SEC. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The indentures will be qualified under the Trust
Indenture Act of 1939, as amended (the &#147;Trust Indenture Act&#148;). We use the term &#147;trustee&#148; to refer to either the trustee under the senior indenture or the trustee under the subordinated indenture, as applicable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The following summaries of material provisions of the senior debt securities, the subordinated debt securities and the indentures are subject to, and
qualified in their entirety by reference to, all of the provisions of the indenture and any supplemental indentures applicable to a particular series of debt securities. We urge you to read the applicable prospectus supplements and any related free
writing prospectuses related to the debt securities that we may offer under this prospectus, as well as the complete indentures that contains the terms of the debt securities. Except as we may otherwise indicate, the terms of the senior indenture
and the subordinated indenture are identical. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>General </B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The terms of each series of debt securities will be established by or pursuant to a resolution of our board of directors and set forth or determined in
the manner provided in an officers&#146; certificate or by a supplemental indenture. Debt securities may be issued in separate series without limitation as to aggregate principal amount. We may specify a maximum aggregate principal amount for the
debt securities of any series. We will describe in the applicable prospectus supplement the terms of the series of debt securities being offered, including: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the title; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the principal amount being offered, and if a series, the total amount authorized and the total amount outstanding; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">any limit on the amount that may be issued; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">whether or not we will issue the series of debt securities in global form, and, if so, the terms and who the depositary will be; </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">13 </P>


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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the maturity date; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">whether and under what circumstances, if any, we will pay additional amounts on any debt securities held by a person who is not a United States person for tax purposes, and whether we can redeem the debt securities if
we have to pay such additional amounts; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the annual interest rate, which may be fixed or variable, or the method for determining the rate and the date interest will begin to accrue, the dates interest will be payable and the regular record dates for interest
payment dates or the method for determining such dates; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">whether or not the debt securities will be secured or unsecured, and the terms of any secured debt; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the terms of the subordination of any series of subordinated debt; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the place where payments will be made; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">restrictions on transfer, sale or other assignment, if any; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">our right, if any, to defer payment of interest and the maximum length of any such deferral period; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the date, if any, after which, and the price at which, we may, at our option, redeem the series of debt securities pursuant to any optional or provisional redemption provisions and the terms of those redemption
provisions; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">provisions for a sinking fund purchase or other analogous fund, if any, including the date, if any, on which, and the price at which we are obligated, pursuant thereto or otherwise, to redeem, or at the holder&#146;s
option, to purchase, the series of debt securities and the currency or currency unit in which the debt securities are payable; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">whether the indenture will restrict our ability or the ability of our subsidiaries to: </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">incur additional indebtedness; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">issue additional securities; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">create liens; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">pay dividends or make distributions in respect of our capital stock or the capital stock of our subsidiaries; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">redeem capital stock; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">place restrictions on our subsidiaries&#146; ability to pay dividends, make distributions or transfer assets; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">make investments or other restricted payments; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">sell or otherwise dispose of assets; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">enter into sale-leaseback transactions; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">engage in transactions with stockholders or affiliates; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">issue or sell stock of our subsidiaries; or </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">effect a consolidation or merger; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">whether the indenture will require us to maintain any interest coverage, fixed charge, cash flow-based, asset-based or other financial ratios; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">a discussion of certain material or special United States federal income tax considerations applicable to the debt securities; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">information describing any book-entry features; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the applicability of the provisions in the indenture on discharge; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">whether the debt securities are to be offered at a price such that they will be deemed to be offered at an &#147;original issue discount&#148; as defined in paragraph (a)&nbsp;of Section&nbsp;1273 of the Internal
Revenue Code of 1986, as amended; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the denominations in which we will issue the series of debt securities, if other than denominations of $1,000 and any integral multiple thereof; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the currency of payment of debt securities if other than U.S. dollars and the manner of determining the equivalent amount in U.S. dollars; and </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">any other specific terms, preferences, rights or limitations of, or restrictions on, the debt securities, including any additional events of default or covenants provided with respect to the debt securities, and any
terms that may be required by us or advisable under applicable laws or regulations. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">14 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Conversion or Exchange Rights </B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We will set forth in the applicable prospectus supplement the terms under which a series of debt securities may be convertible into or exchangeable for
our common stock, our preferred stock or other securities (including securities of a third party). We will include provisions as to whether conversion or exchange is mandatory, at the option of the holder or at our option. We may include provisions
pursuant to which the number of shares of our common stock, our preferred stock or other securities (including securities of a third party) that the holders of the series of debt securities receive would be subject to adjustment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Consolidation, Merger or Sale </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Unless we provide otherwise in
the prospectus supplement applicable to a particular series of debt securities, the indentures will not contain any covenant that restricts our ability to merge or consolidate, or sell, convey, transfer or otherwise dispose of all or substantially
all of our assets. However, any successor to or acquirer of such assets must assume all of our obligations under the indentures or the debt securities, as appropriate. If the debt securities are convertible into or exchangeable for our other
securities or securities of other entities, the person with whom we consolidate or merge or to whom we sell all of our property must make provisions for the conversion of the debt securities into securities that the holders of the debt securities
would have received if they had converted the debt securities before the consolidation, merger or sale. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Events of Default under the Indenture </B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Unless we provide otherwise in the prospectus supplement applicable to a particular series of debt securities, the following are events of default under
the indentures with respect to any series of debt securities that we may issue: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">if we fail to pay interest when due and payable and our failure continues for 90 days and the time for payment has not been extended; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">if we fail to pay the principal, premium or sinking fund payment, if any, when due and payable at maturity, upon redemption or repurchase or otherwise, and the time for payment has not been extended; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">if we fail to observe or perform any other covenant contained in the debt securities or the indentures, other than a covenant specifically relating to another series of debt securities, and our failure continues for 90
days after we receive notice from the trustee or we and the trustee receive notice from the holders of at least 25% in aggregate principal amount of the outstanding debt securities of the applicable series; and </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">if specified events of bankruptcy, insolvency or reorganization occur. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We will describe in each
applicable prospectus supplement any additional events of default relating to the relevant series of debt securities.</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">If an event of default with
respect to debt securities of any series occurs and is continuing, other than an event of default specified in the last bullet point above, the trustee or the holders of at least 25% in aggregate principal amount of the outstanding debt securities
of that series, by notice to us in writing, and to the trustee if notice is given by such holders, may declare the unpaid principal, premium, if any, and accrued interest, if any, due and payable immediately. If an event of default arises due to the
occurrence of certain specified bankruptcy, insolvency or reorganization events, the unpaid principal, premium, if any, and accrued interest, if any, of each issue of debt securities then outstanding shall be due and payable without any notice or
other action on the part of the trustee or any holder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The holders of a majority in principal amount of the outstanding debt securities of an
affected series may waive any default or event of default with respect to the series and its consequences, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">15 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">
except defaults or events of default regarding payment of principal, premium, if any, or interest, unless we have cured the default or event of default in accordance with the indenture. Any
waiver shall cure the default or event of default. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:ARIAL">Subject to the terms of the indentures, if an event of default under an indenture shall occur
and be continuing, the trustee will be under no obligation to exercise any of its rights or powers under such indenture at the request or direction of any of the holders of the applicable series of debt securities, unless such holders have offered
the trustee reasonable indemnity or security satisfactory to it against any loss, liability or expense. The holders of a majority in principal amount of the outstanding debt securities of any series will have the right to direct the time, method and
place of conducting any proceeding for any remedy available to the trustee, or exercising any trust or power conferred on the trustee, with respect to the debt securities of that series, provided that: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the direction so given by the holder is not in conflict with any law or the applicable indenture; and </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">subject to its duties under the Trust Indenture Act, the trustee need not take any action that might involve it in personal liability or might be unduly prejudicial to the holders not involved in the proceeding.
</TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The indentures provide that if an event of default has occurred and is continuing, the trustee will be required in the exercise of
its powers to use the degree of care that a prudent person would use in the conduct of its own affairs. The trustee, however, may refuse to follow any direction that conflicts with law or the indenture, or that the trustee determines is unduly
prejudicial to the rights of any other holder of the relevant series of debt securities, or that would involve the trustee in personal liability. Prior to taking any action under the indentures, the trustee will be entitled to indemnification
against all costs, expenses and liabilities that would be incurred by taking or not taking such action. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">A holder of the debt securities of any
series will have the right to institute a proceeding under the indentures or to appoint a receiver or trustee, or to seek other remedies only if: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the holder has given written notice to the trustee of a continuing event of default with respect to that series; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the holders of at least 25% in aggregate principal amount of the outstanding debt securities of that series have made a written request and such holders have offered reasonable indemnity to the trustee or security
satisfactory to it against any loss, liability or expense or to be incurred in compliance with instituting the proceeding as trustee; and </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the trustee does not institute the proceeding, and does not receive from the holders of a majority in aggregate principal amount of the outstanding debt securities of that series other conflicting directions within 90
days after the notice, request and offer. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">These limitations do not apply to a suit instituted by a holder of debt securities if we
default in the payment of the principal, premium, if any, or interest on, the debt securities, or other defaults that may be specified in the applicable prospectus supplement.</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We will periodically file statements with the trustee regarding our compliance with specified covenants in the indentures. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The indentures provide that if a default occurs and is continuing and is actually known to a responsible officer of the trustee, the trustee must mail
to each holder notice of the default within the earlier of 90 days after it occurs and 30 days after it is known by a responsible officer of the trustee or written notice of it is received by the trustee, unless such default has been cured or
waived. Except in the case of a default in the payment of principal or premium of, or interest on, any debt security or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">16 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">
certain other defaults specified in an indenture, the trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee or a trust committee
of directors, or responsible officers of the trustee, in good faith determine that withholding notice is in the best interests of holders of the relevant series of debt securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Modification of Indenture; Waiver </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Subject to the terms of
the indenture for any series of debt securities that we may issue, we and the trustee may change an indenture without the consent of any holders with respect to the following specific matters: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to fix any ambiguity, defect or inconsistency in the indenture; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to comply with the provisions described above under &#147;Description of Debt Securities&#151;Consolidation, Merger or Sale;&#148; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to comply with any requirements of the SEC in connection with the qualification of any indenture under the Trust Indenture Act; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to add to, delete from or revise the conditions, limitations and restrictions on the authorized amount, terms or purposes of issue, authentication and delivery of debt securities, as set forth in the indenture;
</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to provide for the issuance of, and establish the form and terms and conditions of, the debt securities of any series as provided under &#147;Description of Debt Securities&#151;General,&#148; to establish the form of
any certifications required to be furnished pursuant to the terms of the indenture or any series of debt securities, or to add to the rights of the holders of any series of debt securities; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to evidence and provide for the acceptance of appointment hereunder by a successor trustee; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to provide for uncertificated debt securities and to make all appropriate changes for such purpose; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to add such new covenants, restrictions, conditions or provisions for the benefit of the holders, to make the occurrence, or the occurrence and the continuance, of a default in any such additional covenants,
restrictions, conditions or provisions an event of default or to surrender any right or power conferred to us in the indenture; or </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to change anything that does not adversely affect the interests of any holder of debt securities of any series in any material respect. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">In addition, under the indentures, the rights of holders of a series of debt securities may be changed by us and the trustee with the written consent of
the holders of at least a majority in aggregate principal amount of the outstanding debt securities of each series that is affected. However, subject to the terms of the indenture for any series of debt securities that we may issue or otherwise
provided in the prospectus supplement applicable to a particular series of debt securities, we and the trustee may only make the following changes with the consent of each holder of any outstanding debt securities affected: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">extending the stated maturity of the series of debt securities; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">reducing the principal amount, reducing the rate of or extending the time of payment of interest, or reducing any premium payable upon the redemption or repurchase of any debt securities; or </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">reducing the percentage of debt securities, the holders of which are required to consent to any amendment, supplement, modification or waiver. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">17 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Discharge </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Each
indenture provides that, subject to the terms of the indenture and any limitation otherwise provided in the prospectus supplement applicable to a particular series of debt securities, we may elect to be discharged from our obligations with respect
to one or more series of debt securities, except for specified obligations, including obligations to: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">register the transfer or exchange of debt securities of the series; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">replace stolen, lost or mutilated debt securities of the series; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">maintain paying agencies; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">hold monies for payment in trust; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">recover excess money held by the trustee; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">compensate and indemnify the trustee; and </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">appoint any successor trustee. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">In order to exercise our rights to be discharged, we must deposit with
the trustee money or government obligations sufficient to pay all the principal of, and any premium and interest on, the debt securities of the series on the dates payments are due. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Form, Exchange and Transfer </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We will issue the debt
securities of each series only in fully registered form without coupons and, unless we otherwise specify in the applicable prospectus supplement, in denominations of $1,000 and any integral multiple thereof. The indentures provide that we may issue
debt securities of a series in temporary or permanent global form and as book-entry securities that will be deposited with, or on behalf of, The Depository Trust Company or another depositary named by us and identified in a prospectus supplement
with respect to that series. See &#147;Legal Ownership of Securities&#148; below for a further description of the terms relating to any book-entry securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">At the option of the holder, subject to the terms of the indentures and the limitations applicable to global securities described in the applicable
prospectus supplement, the holder of the debt securities of any series can exchange the debt securities for other debt securities of the same series, in any authorized denomination and of like tenor and aggregate principal amount. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Subject to the terms of the indentures and the limitations applicable to global securities set forth in the applicable prospectus supplement, holders of
the debt securities may present the debt securities for exchange or for registration of transfer, duly endorsed or with the form of transfer endorsed thereon duly executed if so required by us or the security registrar, at the office of the security
registrar or at the office of any transfer agent designated by us for this purpose. Unless otherwise provided in the debt securities that the holder presents for transfer or exchange, we will make no service charge for any registration of transfer
or exchange, but we may require payment of any taxes or other governmental charges. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We will name in the applicable prospectus supplement the
security registrar, and any transfer agent in addition to the security registrar, that we initially designate for any debt securities. We may at any time designate additional transfer agents or rescind the designation of any transfer agent or
approve a change in the office through which any transfer agent acts, except that we will be required to maintain a transfer agent in each place of payment for the debt securities of each series. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">If we elect to redeem the debt securities of any series, we will not be required to: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">issue, register the transfer of, or exchange any debt securities of that series during a period beginning at the opening of business 15 days before the day of mailing of a notice of redemption of any debt securities
that may be selected for redemption and ending at the close of business on the day of the mailing; or </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">18 </P>


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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">register the transfer of or exchange any debt securities so selected for redemption, in whole or in part, except the unredeemed portion of any debt securities we are redeeming in part. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Information Concerning the Trustee </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The trustee, other than
during the occurrence and continuance of an event of default under an indenture, undertakes to perform only those duties as are specifically set forth in the applicable indenture and is under no obligation to exercise any of the powers given it by
the indentures at the request of any holder of debt securities unless it is offered reasonable security and indemnity against the costs, expenses and liabilities that it might incur. However, upon an event of default under an indenture, the trustee
must use the same degree of care as a prudent person would exercise or use in the conduct of his or her own affairs. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Payment and Paying Agents </B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Unless we otherwise indicate in the applicable prospectus supplement, we will make payment of the interest on any debt securities on any interest payment
date to the person in whose name the debt securities, or one or more predecessor securities, are registered at the close of business on the regular record date for the interest payment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We will pay principal of and any premium and interest on the debt securities of a particular series at the office of the paying agents designated by us,
except that unless we otherwise indicate in the applicable prospectus supplement, we will make interest payments by check that we will mail to the holder or by wire transfer to certain holders. Unless we otherwise indicate in the applicable
prospectus supplement, we will designate the corporate trust office of the trustee as our sole paying agent for payments with respect to debt securities of each series. We will name in the applicable prospectus supplement any other paying agents
that we initially designate for the debt securities of a particular series. We will maintain a paying agent in each place of payment for the debt securities of a particular series. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">All money we pay to a paying agent or the trustee for the payment of the principal of or any premium or interest on any debt securities that remains
unclaimed at the end of two years after such principal, premium or interest has become due and payable will be repaid to us, and the holder of the debt security thereafter may look only to us for payment thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Governing Law </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The indentures and the debt securities will be
governed by and construed in accordance with the laws of the State of New York, except to the extent that the Trust Indenture Act is applicable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Ranking Debt
Securities </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The subordinated debt securities will be unsecured and will be subordinate and junior in priority of payment to certain other
indebtedness to the extent described in a prospectus supplement. The subordinated indenture does not limit the amount of subordinated debt securities that we may issue. It also does not limit us from issuing any other secured or unsecured debt. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The senior debt securities will be unsecured and will rank equally in right of payment to all our other senior unsecured debt. The senior indenture does
not limit the amount of senior debt securities that we may issue. It also does not limit us from issuing any other secured or unsecured debt. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Existing
Subordinated Debt </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">As of December&nbsp;31, 2013, the Company had no existing subordinated debt. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">19 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_10"></A>DESCRIPTION OF WARRANTS </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The following description, together with the additional information we may include in any applicable prospectus supplements and free writing
prospectuses, summarizes the material terms and provisions of the warrants that we may offer under this prospectus, which may consist of warrants to purchase common stock, preferred stock or debt securities and may be issued in one or more series.
Warrants may be offered independently or together with common stock, preferred stock or debt securities offered by any prospectus supplement, and may be attached to or separate from those securities. While the terms we have summarized below will
apply generally to any warrants that we may offer under this prospectus, we will describe the particular terms of any series of warrants that we may offer in more detail in the applicable prospectus supplement and any applicable free writing
prospectus. The terms of any warrants offered under a prospectus supplement may differ from the terms described below. However, no prospectus supplement will fundamentally change the terms that are set forth in this prospectus or offer a security
that is not registered and described in this prospectus at the time of its effectiveness. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We will issue the warrants under a warrant agreement that
we will enter into with a warrant agent to be selected by us. The warrant agent will act solely as an agent of ours in connection with the warrants and will not act as an agent for the holders or beneficial owners of the warrants. We will file as
exhibits to the registration statement of which this prospectus is a part, or will incorporate by reference from a current report on Form 8-K that we file with the SEC, the form of warrant agreement, including a form of warrant certificate, that
describes the terms of the particular series of warrants we are offering before the issuance of the related series of warrants. The following summaries of material provisions of the warrants and the warrant agreements are subject to, and qualified
in their entirety by reference to, all the provisions of the warrant agreement and warrant certificate applicable to a particular series of warrants. We urge you to read the applicable prospectus supplement and any applicable free writing prospectus
related to the particular series of warrants that we sell under this prospectus, as well as the complete warrant agreements and warrant certificates that contain the terms of the warrants. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>General </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We will describe in the applicable prospectus
supplement the terms relating to a series of warrants, including: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the offering price and aggregate number of warrants offered; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the currency for which the warrants may be purchased; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">if applicable, the designation and terms of the securities with which the warrants are issued and the number of warrants issued with each such security or each principal amount of such security; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">if applicable, the date on and after which the warrants and the related securities will be separately transferable; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">in the case of warrants to purchase debt securities, the principal amount of debt securities purchasable upon exercise of one warrant and the price at, and currency in which, this principal amount of debt securities may
be purchased upon such exercise; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">in the case of warrants to purchase common stock or preferred stock, the number of shares of common stock or preferred stock, as the case may be, purchasable upon the exercise of one warrant and the price at which these
shares may be purchased upon such exercise; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the effect of any merger, consolidation, sale or other disposition of our business on the warrant agreements and the warrants; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the terms of any rights to redeem or call the warrants; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">any provisions for changes to or adjustments in the exercise price or number of securities issuable upon exercise of the warrants; </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">20 </P>


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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the dates on which the right to exercise the warrants will commence and expire; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the manner in which the warrant agreements and warrants may be modified; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">United States federal income tax consequences of holding or exercising the warrants; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the terms of the securities issuable upon exercise of the warrants; and </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">any other specific terms, preferences, rights or limitations of or restrictions on the warrants. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Before
exercising their warrants, holders of warrants will not have any of the rights of holders of the securities purchasable upon such exercise, including: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">in the case of warrants to purchase debt securities, the right to receive payments of principal of, or premium, if any, or interest on, the debt securities purchasable upon exercise or to enforce covenants in the
applicable indenture; or </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">in the case of warrants to purchase common stock or preferred stock, the right to receive dividends, if any, or, payments upon our liquidation, dissolution or winding up or to exercise voting rights, if any.
</TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Exercise of Warrants </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Each warrant will
entitle the holder to purchase the securities that we specify in the applicable prospectus supplement at the exercise price that we describe in the applicable prospectus supplement. Unless we otherwise specify in the applicable prospectus
supplement, holders of the warrants may exercise the warrants at any time up to the specified time on the expiration date that we set forth in the applicable prospectus supplement. After the close of business on the expiration date, unexercised
warrants will become void. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Holders of the warrants may exercise the warrants by delivering the warrant certificate representing the warrants to be
exercised together with specified information, and paying the required amount to the warrant agent in immediately available funds, as provided in the applicable prospectus supplement. We will set forth on the reverse side of the warrant certificate
and in the applicable prospectus supplement the information that the holder of the warrant will be required to deliver to the warrant agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Upon
receipt of the required payment and the warrant certificate properly completed and duly executed at the corporate trust office of the warrant agent or any other office indicated in the applicable prospectus supplement, we will issue and deliver the
securities purchasable upon such exercise. If fewer than all of the warrants represented by the warrant certificate are exercised, then we will issue a new warrant certificate for the remaining amount of warrants. If we so indicate in the applicable
prospectus supplement, holders of the warrants may surrender securities as all or part of the exercise price for warrants. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Enforceability of Rights by Holders
of Warrants </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Each warrant agent will act solely as our agent under the applicable warrant agreement and will not assume any obligation or
relationship of agency or trust with any holder of any warrant. A single bank or trust company may act as warrant agent for more than one issue of warrants. A warrant agent will have no duty or responsibility in case of any default by us under the
applicable warrant agreement or warrant, including any duty or responsibility to initiate any proceedings at law or otherwise, or to make any demand upon us. Any holder of a warrant may, without the consent of the related warrant agent or the holder
of any other warrant, enforce by appropriate legal action its right to exercise, and receive the securities purchasable upon exercise of, its warrants. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">21 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_11"></A>DESCRIPTION OF UNITS </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The following description, together with the additional information we may include in any applicable prospectus supplements and free writing
prospectuses, summarizes the material terms and provisions of the units that we may offer under this prospectus. While the terms we have summarized below will apply generally to any units that we may offer under this prospectus, we will describe the
particular terms of any series of units in more detail in the applicable prospectus supplement. The terms of any units offered under a prospectus supplement may differ from the terms described below. However, no prospectus supplement will
fundamentally change the terms that are set forth in this prospectus or offer a security that is not registered and described in this prospectus at the time of its effectiveness. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We will file as exhibits to the registration statement of which this prospectus is a part, or will incorporate by reference from a current report on
Form 8-K that we file with the SEC, the form of unit agreement that describes the terms of the series of units we are offering, and any supplemental agreements, before the issuance of the related series of units. The following summaries of material
terms and provisions of the units are subject to, and qualified in their entirety by reference to, all the provisions of the unit agreement and any supplemental agreements applicable to a particular series of units. We urge you to read the
applicable prospectus supplements related to the particular series of units that we sell under this prospectus, as well as the complete unit agreement and any supplemental agreements that contain the terms of the units. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>General </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We may issue units comprised of one or more debt
securities, shares of common stock, shares of preferred stock and warrants in any combination. Each unit will be issued so that the holder of the unit is also the holder of each security included in the unit. Thus, the holder of a unit will have the
rights and obligations of a holder of each included security. The unit agreement under which a unit is issued may provide that the securities included in the unit may not be held or transferred separately, at any time or at any time before a
specified date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We will describe in the applicable prospectus supplement the terms of the series of units, including: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the designation and terms of the units and of the securities comprising the units, including whether and under what circumstances those securities may be held or transferred separately; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">any provisions of the governing unit agreement that differ from those described below; and </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">any provisions for the issuance, payment, settlement, transfer or exchange of the units or of the securities comprising the units. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The provisions described in this section, as well as those described under &#147;Description of Capital Stock,&#148; &#147;Description of Debt
Securities&#148; and &#147;Description of Warrants&#148; will apply to each unit and to any common stock, preferred stock, debt security or warrant included in each unit, respectively. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Issuance in Series </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We may issue units in such amounts and in
numerous distinct series as we determine. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Enforceability of Rights by Holders of Units </B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Each unit agent will act solely as our agent under the applicable unit agreement and will not assume any obligation or relationship of agency or trust
with any holder of any unit. A single bank or trust company may act as unit agent for more than one series of units. A unit agent will have no duty or responsibility in case of any default by us under the applicable unit agreement or unit, including
any duty or responsibility to initiate any proceedings at law or otherwise, or to make any demand upon us. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">22 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">
Any holder of a unit may, without the consent of the related unit agent or the holder of any other unit, enforce by appropriate legal action its rights as holder under any security included in
the unit. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We, the unit agents and any of their agents may treat the registered holder of any unit certificate as an absolute owner of the units
evidenced by that certificate for any purpose and as the person entitled to exercise the rights attaching to the units so requested, despite any notice to the contrary. See &#147;Legal Ownership of Securities.&#148; </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_12"></A>LEGAL OWNERSHIP OF SECURITIES </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We can issue securities in registered form or in the form of one or more global securities. We describe global securities in greater detail below. We
refer to those persons who have securities registered in their own names on the books that we or any applicable trustee or depositary or warrant agent maintain for this purpose as the &#147;holders&#148; of those securities. These persons are the
legal holders of the securities. We refer to those persons who, indirectly through others, own beneficial interests in securities that are not registered in their own names, as &#147;indirect holders&#148; of those securities. As we discuss below,
indirect holders are not legal holders, and investors in securities issued in book-entry form or in street name will be indirect holders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Book-Entry Holders
</B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We may issue securities in book-entry form only, as we will specify in the applicable prospectus supplement. This means securities may be
represented by one or more global securities registered in the name of a financial institution that holds them as depositary on behalf of other financial institutions that participate in the depositary&#146;s book-entry system. These participating
institutions, which are referred to as participants, in turn, hold beneficial interests in the securities on behalf of themselves or their customers. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Only the person in whose name a security is registered is recognized as the holder of that security. Global securities will be registered in the name of
the depositary or its participants. Consequently, for global securities, we will recognize only the depositary as the holder of the securities, and we will make all payments on the securities to the depositary. The depositary passes along the
payments it receives to its participants, which in turn pass the payments along to their customers who are the beneficial owners. The depositary and its participants do so under agreements they have made with one another or with their customers;
they are not obligated to do so under the terms of the securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">As a result, investors in a global security will not own securities directly.
Instead, they will own beneficial interests in a global security, through a bank, broker or other financial institution that participates in the depositary&#146;s book-entry system or holds an interest through a participant. As long as the
securities are issued in global form, investors will be indirect holders, and not legal holders, of the securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Street Name Holders </B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We may terminate a global security or issue securities that are not issued in global form. In these cases, investors may choose to hold their securities
in their own names or in &#147;street name.&#148; Securities held by an investor in street name would be registered in the name of a bank, broker or other financial institution that the investor chooses, and the investor would hold only a beneficial
interest in those securities through an account he or she maintains at that institution. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">For securities held in street name, we or any applicable
trustee or depositary will recognize only the intermediary banks, brokers and other financial institutions in whose names the securities are registered as the holders of those securities, and we or any such trustee or depositary will make all
payments on those securities to them. These institutions pass along the payments they receive to their </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">23 </P>


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customers who are the beneficial owners, but only because they agree to do so in their customer agreements or because they are legally required to do so. Investors who hold securities in street
name will be indirect holders, not legal holders, of those securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Legal Holders </B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Our obligations, as well as the obligations of any applicable trustee or third party employed by us or a trustee, run only to the legal holders of the
securities. We do not have obligations to investors who hold beneficial interests in global securities, in street name or by any other indirect means. This will be the case whether an investor chooses to be an indirect holder of a security or has no
choice because we are issuing the securities only in global form. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">For example, once we make a payment or give a notice to the holder, we have no
further responsibility for the payment or notice even if that holder is required, under agreements with its participants or customers or by law, to pass it along to the indirect holders but does not do so. Similarly, we may want to obtain the
approval of the holders to amend an indenture, to relieve us of the consequences of a default or of our obligation to comply with a particular provision of an indenture, or for other purposes. In such an event, we would seek approval only from the
legal holders, and not the indirect holders, of the securities. Whether and how the legal holders contact the indirect holders is up to the legal holders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Special Considerations for Indirect Holders </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">If you hold
securities through a bank, broker or other financial institution, either in book-entry form because the securities are represented by one or more global securities or in street name, you should check with your own institution to find out: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">how it handles securities payments and notices; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">whether it imposes fees or charges; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">how it would handle a request for the holders&#146; consent, if ever required; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">whether and how you can instruct it to send you securities registered in your own name so you can be a legal holder, if that is permitted in the future; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">how it would exercise rights under the securities if there were a default or other event triggering the need for holders to act to protect their interests; and </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">if the securities are in book-entry form, how the depositary&#146;s rules and procedures will affect these matters. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Global Securities </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">A global security is a security that
represents one or any other number of individual securities held by a depositary. Generally, all securities represented by the same global securities will have the same terms. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Each security issued in book-entry form will be represented by a global security that we issue to, deposit with and register in the name of a financial
institution or its nominee that we select. The financial institution that we select for this purpose is called the depositary. Unless we specify otherwise in the applicable prospectus supplement, The Depository Trust Company, New York, New York,
known as DTC, will be the depositary for all securities issued in book-entry form. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">A global security may not be transferred to or registered in the
name of anyone other than the depositary, its nominee or a successor depositary, unless special termination situations arise. We describe those situations below under &#147;&#151;Special Situations When A Global Security Will Be Terminated.&#148; As
a result of these arrangements, the depositary, or its nominee, will be the sole registered owner and legal holder of all securities represented by a global security, and investors will </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">24 </P>


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be permitted to own only beneficial interests in a global security. Beneficial interests must be held by means of an account with a broker, bank or other financial institution that in turn has an
account with the depositary or with another institution that does. Thus, an investor whose security is represented by a global security will not be a legal holder of the security, but only an indirect holder of a beneficial interest in the global
security. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">If the prospectus supplement for a particular security indicates that the security will be issued as a global security, then the security
will be represented by a global security at all times unless and until the global security is terminated. If termination occurs, we may issue the securities through another book-entry clearing system or decide that the securities may no longer be
held through any book-entry clearing system. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Special Considerations For Global Securities </B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">As an indirect holder, an investor&#146;s rights relating to a global security will be governed by the account rules of the investor&#146;s financial
institution and of the depositary, as well as general laws relating to securities transfers. We do not recognize an indirect holder as a holder of securities and instead deal only with the depositary that holds the global security. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">If securities are issued only as global securities, an investor should be aware of the following: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">an investor cannot cause the securities to be registered in his or her name, and cannot obtain non-global certificates for his or her interest in the securities, except in the special situations we describe below;
</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">an investor will be an indirect holder and must look to his or her own bank or broker for payments on the securities and protection of his or her legal rights relating to the securities, as we describe above;
</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">an investor may not be able to sell interests in the securities to some insurance companies and to other institutions that are required by law to own their securities in non-book-entry form; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">an investor may not be able to pledge his or her interest in the global security in circumstances where certificates representing the securities must be delivered to the lender or other beneficiary of the pledge in
order for the pledge to be effective; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the depositary&#146;s policies, which may change from time to time, will govern payments, transfers, exchanges and other matters relating to an investor&#146;s interest in the global security. We and any applicable
trustee have no responsibility for any aspect of the depositary&#146;s actions or for its records of ownership interests in the global security. We and the trustee also do not supervise the depositary in any way; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the depositary may, and we understand that DTC will, require that those who purchase and sell interests in the global security within its book-entry system use immediately available funds, and your broker or bank may
require you to do so as well; and </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">financial institutions that participate in the depositary&#146;s book-entry system, and through which an investor holds its interest in the global security, may also have their own policies affecting payments, notices
and other matters relating to the securities. There may be more than one financial intermediary in the chain of ownership for an investor. We do not monitor and are not responsible for the actions of any of those intermediaries. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Special Situations When A Global Security Will Be Terminated </B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">In a few special situations described below, a global security will terminate and interests in it will be exchanged for physical certificates
representing those interests. After that exchange, the choice of whether to hold securities directly or in street name will be up to the investor. Investors must consult their own banks or brokers to find out how to have their interests in
securities transferred to their own names, so that they will be direct holders. We have described the rights of holders and street name investors above. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">25 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">A global security will terminate when the following special situations occur: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">if the depositary notifies us that it is unwilling, unable or no longer qualified to continue as depositary for that global security and we do not appoint another institution to act as depositary within 90 days;
</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">if we notify any applicable trustee that we wish to terminate that global security; or </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">if an event of default has occurred with regard to securities represented by that global security and has not been cured or waived. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The applicable prospectus supplement may also list additional situations for terminating a global security that would apply only to the particular
series of securities covered by the prospectus supplement. When a global security terminates, the depositary, and neither we nor any applicable trustee, is responsible for deciding the names of the institutions that will be the initial direct
holders. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">26 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_13"></A>PLAN OF DISTRIBUTION </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We may sell the securities being offered hereby in one or more of the following ways from time to time: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">through agents to the public or to investors; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to underwriters for resale to the public or to investors; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">in &#147;at the market&#148; offerings, within the meaning of Rule 415(a)(4) of the Securities Act, to or through a market maker or into an existing trading market on an exchange or otherwise; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">directly to investors; or </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">through a combination of any of these methods of sale. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We will set forth in a prospectus supplement the
terms of that particular offering of securities, including: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the name or names of any agents or underwriters; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="3%">&nbsp;</TD>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the purchase price of the securities being offered and the proceeds we will receive from the sale; </TD></TR></TABLE>
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<TD WIDTH="3%">&nbsp;</TD>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">any over-allotment options under which underwriters may purchase additional securities from us; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">any agency fees or underwriting discounts and other items constituting agents&#146; or underwriters&#146; compensation; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">any initial public offering price; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">any discounts or concessions allowed or reallowed or paid to dealers; and </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">any securities exchanges or markets on which such securities may be listed. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Agents </B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We may designate agents who agree to use their reasonable efforts to solicit purchases of our securities for the period of their appointment or to sell
our securities on a continuing basis. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Underwriters </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">If
we use underwriters for a sale of securities, the underwriters will acquire the securities for their own account. The underwriters may resell the securities in one or more transactions, including negotiated transactions, at a fixed public offering
price or at varying prices determined at the time of sale. The obligations of the underwriters to purchase the securities will be subject to the conditions set forth in the applicable underwriting agreement. The underwriters will be obligated to
purchase all the securities of the series offered if they purchase any of the securities of that series. We may change from time to time any initial public offering price and any discounts or concessions the underwriters allow or reallow or pay to
dealers. We may use underwriters with whom we have a material relationship. We will describe the nature of any such relationship in any prospectus supplement naming any such underwriter. Only underwriters we name in the prospectus supplement are
underwriters of the securities offered by the prospectus supplement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Direct Sales </B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We may also sell securities directly to one or more purchasers without using underwriters or agents. Underwriters, dealers and agents that participate in
the distribution of the securities may be underwriters as defined in the Securities Act, and any discounts or commissions they receive from us and any profit on their resale of the securities may be treated as underwriting discounts and commissions
under the Securities Act. We will identify in the applicable prospectus supplement any underwriters, dealers or agents and will describe their compensation. We may have agreements with </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">27 </P>


<p Style='page-break-before:always'>
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<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">
the underwriters, dealers and agents to indemnify them against specified civil liabilities, including liabilities under the Securities Act. Underwriters, dealers and agents may engage in
transactions with or perform services for us in the ordinary course of their businesses. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Trading Markets and Listing of Securities </B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Unless otherwise specified in the applicable prospectus supplement, each class or series of securities will be a new issue with no established trading
market, other than our common stock and warrants, which are listed on The NASDAQ Global Market. We may elect to list any other class or series of securities on any exchange or market, but we are not obligated to do so. It is possible that one or
more underwriters may make a market in a class or series of securities, but the underwriters will not be obligated to do so and may discontinue any market making at any time without notice. We cannot give any assurance as to the liquidity of the
trading market for any of the securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Stabilization Activities </B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Any underwriter may engage in overallotment, stabilizing transactions, short covering transactions and penalty bids in accordance with Regulation M under
the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;). Overallotment involves sales in excess of the offering size, which create a short position. Stabilizing transactions permit bids to purchase the underlying security so
long as the stabilizing bids do not exceed a specified maximum. Short covering transactions involve purchases of the securities in the open market after the distribution is completed to cover short positions. Penalty bids permit the underwriters to
reclaim a selling concession from a dealer when the securities originally sold by the dealer are purchased in a covering transaction to cover short positions. Those activities may cause the price of the securities to be higher than it would
otherwise be. If commenced, the underwriters may discontinue any of these activities at any time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Passive Market Making </B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">Any underwriters who are qualified market makers on The NASDAQ Global Market may engage in passive market making transactions in the securities on The
NASDAQ Global Market in accordance with Rule 103 of Regulation M, during the business day prior to the pricing of the offering, before the commencement of offers or sales of the securities. Passive market makers must comply with applicable volume
and price limitations and must be identified as passive market makers. In general, a passive market maker must display its bid at a price not in excess of the highest independent bid for such security. If all independent bids are lowered below the
passive market maker&#146;s bid, however, the passive market maker&#146;s bid must then be lowered when certain purchase limits are exceeded. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">28 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_14"></A>LEGAL MATTERS </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">DLA Piper LLP (US), San Diego, California will pass for us upon the validity of the securities being offered by this prospectus and applicable
prospectus supplement, and counsel named in the applicable prospectus supplement will pass upon legal matters for any underwriters, dealers or agents. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_15"></A>EXPERTS </B></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The
consolidated financial statements of Cytori Therapeutics, Inc. as of December&nbsp;31, 2013 and 2012, and for each of the years in the three-year period ended December&nbsp;31, 2013, and management&#146;s assessment of the effectiveness of internal
control over financial reporting as of December&nbsp;31, 2013, have been incorporated by reference herein and in the registration statement in reliance upon the reports of KPMG LLP, independent registered public accounting firm, incorporated by
reference herein, and upon the authority of said firm as experts in accounting and auditing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The audit report on the effectiveness of internal
control over financial reporting as of December&nbsp;31, 2013, expresses an opinion that Cytori Therapeutics, Inc. did not maintain effective internal control over financial reporting as of December&nbsp;31, 2013 because of the effect of a material
weakness on the achievement of the objectives of the control criteria and contains an explanatory paragraph that states a material weakness has been identified related to the recognition and measurement of revenue and is included in
management&#146;s assessment. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_16"></A>WHERE YOU CAN FIND ADDITIONAL INFORMATION </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We are a reporting company and file annual, quarterly and current reports, proxy statements and other information with the SEC. We have filed with the
SEC a registration statement on Form S-3 under the Securities Act with respect to the securities we are offering under this prospectus. This prospectus does not contain all of the information set forth in the registration statement and the exhibits
to the registration statement. For further information with respect to us and the securities we are offering under this prospectus, we refer you to the registration statement and the exhibits and schedules filed as a part of the registration
statement. You may read and copy the registration statement, as well as our reports, proxy statements and other information, at the SEC&#146;s Public Reference Room at 100 F Street, N.E., Washington, D.C. 20549. You can request copies of these
documents by writing to the SEC and paying a fee for the copying cost. Please call the SEC at 1-800-SEC-0330 for more information about the operation of the Public Reference Room. The SEC maintains an internet site that contains reports, proxy and
information statements, and other information regarding issuers that file electronically with the SEC, where our SEC filings are also available. The address of the SEC&#146;s web site is http://www.sec.gov. We maintain a website at
http://www.cytori.com. Information contained in or accessible through our website does not constitute a part of this prospectus. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">29 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc921202_17"></A>INCORPORATION OF CERTAIN INFORMATION BY REFERENCE </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">The SEC allows us to &#147;incorporate by reference&#148; information that we file with it into this prospectus, which means that we can disclose
important information to you by referring you to those documents. The information incorporated by reference is an important part of this prospectus. Information in this prospectus supersedes information incorporated by reference that we filed with
the SEC prior to the date of this prospectus, while information that we file later with the SEC will automatically update and supersede the information in this prospectus. We incorporate by reference into this registration statement and prospectus
the following documents, and any future filings we will make with the SEC under Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act after the date of the initial registration statement but prior to effectiveness of the registration statement and
after the date of this prospectus but prior to the termination of the offering of the securities covered by this prospectus (other than current reports or portions thereof furnished under Item&nbsp;2.02 or Item&nbsp;7.01 of Form 8-K): </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Our Annual Report on Form 10-K for the year ended December&nbsp;31, 2013, filed with the SEC on March&nbsp;14, 2014, as amended by our Form 10-K/A filed with the SEC on April&nbsp;30, 2014; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Our Current Reports on Form 8-K filed with the SEC on February&nbsp;4, 2014,&nbsp;April&nbsp;2, 2014, and May&nbsp;6, 2014; and </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#110;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The description of our common stock contained in our registration statement on Form 10/A filed with the SEC on July&nbsp;16, 2001 (File No. 000-32501). </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:3%; font-size:10pt; font-family:ARIAL">We will provide each person, including any beneficial owner, to whom a prospectus is delivered, a copy of any or all of the information that has been
incorporated by reference into this prospectus but not delivered with this prospectus upon written or oral request at no cost to the requester. Requests should be directed to: Cytori Therapeutics, Inc., 3020 Callan Road, San Diego, CA 92121, Attn:
Investor Relations, or you may call us at (858)&nbsp;458-0900. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">30 </P>


<p Style='page-break-before:always'>
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<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:3.00pt solid #334998">&nbsp;</P> <P STYLE="font-size:60pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="font-size:48pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g921202g68m85.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:48pt; margin-bottom:0pt; font-size:14pt; font-family:ARIAL" ALIGN="center"><B>25,140,010 Units consisting of Common Stock and Warrants </B></P>
<P STYLE="font-size:60pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="center"><B>Prospectus Supplement </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:60pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><I>Sole Lead Placement Agent </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:16pt; font-family:ARIAL" ALIGN="center"><B>Mizuho Securities </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><I>Placement Agents
</I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="center"><B>Roth Capital Partners </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="center"><B>Maxim
Group LLC </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="center"><B>WBB Securities </B></P> <P STYLE="margin-top:48pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="center">May 5, 2015
</P> <P STYLE="font-size:48pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:3.00pt solid #334998">&nbsp;</P>
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
