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<SEC-DOCUMENT>0001140361-08-013570.txt : 20080523
<SEC-HEADER>0001140361-08-013570.hdr.sgml : 20080523
<ACCEPTANCE-DATETIME>20080523172640
ACCESSION NUMBER:		0001140361-08-013570
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080519
ITEM INFORMATION:		Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
FILED AS OF DATE:		20080523
DATE AS OF CHANGE:		20080523

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LIVEDEAL INC
		CENTRAL INDEX KEY:			0001045742
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROGRAMMING SERVICES [7371]
		IRS NUMBER:				850206668
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33937
		FILM NUMBER:		08859039

	BUSINESS ADDRESS:	
		STREET 1:		4840 E JASMINE ST
		STREET 2:		STE 110
		CITY:			MESA
		STATE:			AZ
		ZIP:			85020
		BUSINESS PHONE:		4806549646

	MAIL ADDRESS:	
		STREET 1:		4840 EAST JASMINE STREET
		STREET 2:		SUITE 105
		CITY:			MESA
		STATE:			AZ
		ZIP:			85020

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	YP CORP
		DATE OF NAME CHANGE:	20040504

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	YP NET INC
		DATE OF NAME CHANGE:	19991112

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RIGL CORP
		DATE OF NAME CHANGE:	19980707
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k.htm
<DESCRIPTION>LIVEDEAL INC 8-K 5-19-2008
<TEXT>
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STATES</font></div>
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AND EXCHANGE COMMISSION</font></div>
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20549</font></div>
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REPORT</font></div>
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Inc.</font></font></div>
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appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (<font style="DISPLAY: inline; FONT-STYLE: italic">see</font> General
Instruction A.2. below):</font></div>
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              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">Soliciting material pursuant to
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      pursuant to Rule&#160;14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font></font></div>
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              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">Pre-commencement communications
      pursuant to Rule&#160;13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font></font></div>
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    <div>&#160;</div>
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</font></div>
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            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; COLOR: #000000">Departure of Directors or Certain
      Officers; Election of Directors; Appointment of Certain Officers;
      Compensatory Arrangements of Certain Officers</font><font style="DISPLAY: inline; COLOR: #000000">.</font></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; COLOR: #000000; TEXT-DECORATION: underline">Termination</font><font style="DISPLAY: inline; COLOR: #000000; TEXT-DECORATION: underline"> of Chief
Executive Officer</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; COLOR: #000000">On May 19</font><font style="DISPLAY: inline; COLOR: #000000">, 2008</font><font style="DISPLAY: inline; COLOR: #000000">, LiveDeal, Inc. (the &#8220;Company&#8221;)
terminated the employment of its Chief Executive Officer, Daniel L. Coury,
Sr.&#160;&#160;In connection with the termination of his employment, Mr. Coury
resigned from the Company&#8217;s board of directors (the &#8220;Board&#8221;), effective as of
May 23, 2008.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; COLOR: #000000">Pursuant to the terms of his employment
agreement with the Company dated September 19, 2006 (the &#8220;Employment
Agreement&#8221;), the Company will pay Mr. Coury (i) his earned but unpaid salary and
vacation through May 19, 2008 and (ii) a one-time lump sum payment of
$496,000.&#160;&#160;Of the 155,000 shares of restricted stock of the Company
that Mr. Coury presently owns, 111,667 shares will immediately vest and the
remaining 43,333 shares will be forfeited and cancelled.&#160;&#160;Mr. Coury
will also be maintained on the Company's health, dental and disability benefit
plans (or reimbursed for similar coverage in the event that the Company is
unable to maintain him on such plans) for a period of 12 months.&#160; As
required under the Employment Agreement, Mr. Coury provided the Company with a
general release of any and all claims relating to his employment and/or the
termination thereof in consideration of the payments described
above.</font></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; COLOR: #000000; TEXT-DECORATION: underline">Appointment</font><font style="DISPLAY: inline; COLOR: #000000; TEXT-DECORATION: underline"> of New
Directors</font></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; COLOR: #000000">On May 22, 2008, the Board appointed
Michael Edelhart and Gregory A. LeClaire to serve as directors of the Company,
effective immediately.&#160;&#160;The Board also appointed Messrs. Edelhart and
LeClaire to the following committees, effective immediately:</font></font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; COLOR: #000000; TEXT-DECORATION: underline">Appointments</font></font></div>
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      </font></td>
            <td align="left" valign="top" width="60%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; COLOR: #000000">LeClaire (chair);
      Edelhart</font></font></div>
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      </font></td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; COLOR: #000000">Edelhart</font></font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; COLOR: #000000">Governance and
      Nominating</font></font></div>
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            <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="60%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; COLOR: #000000">Edelhart;
      LeClaire</font></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; COLOR: #000000">Mr. Edelhart has been Managing Director
of First30 Services, LLC, a consulting firm that he founded to serve new
companies in their early stages, since February 2008.&#160;&#160;Mr. Edelhart
also currently serves as an advisor to Infovell, Inc., a technology company, and
chairman of the board of Olive Software, Inc., an XML software
developer.&#160;&#160;Previously, Mr. Edelhart was Chief Executive Officer of
Zinio Systems, Inc., which produces and distributes magazines in digital form,
from January 2002 until June 2004.&#160;&#160;Mr. Edelhart has also served as a
senior director of an investment company, editor of various technology magazines
and Internet strategies consultant to such companies as Bloomberg, Reuters and
AARP.&#160;&#160;Mr. Edelhart has also authored more than 25 books, and he holds
a Bachelor of Science degree in journalism (summa cum laude) from the
</font><font style="DISPLAY: inline; COLOR: #000000">University</font><font style="DISPLAY: inline; COLOR: #000000"> of </font><font style="DISPLAY: inline; COLOR: #000000">Northern Colorado</font><font style="DISPLAY: inline; COLOR: #000000">.</font></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; COLOR: #000000">Mr. LeClaire has been Chief Financial
Officer and Corporate Secretary of ClearOne Communications, Inc., a manufacturer
and marketer of audio conferencing and related products, since September
2006.&#160;&#160;ClearOne is traded on the NASDAQ Capital Market
(CLRO).&#160;&#160;From April 2006 until August 2006, Mr. LeClaire served as
Vice President &#8211; Finance and Administration for LiveDeal, Inc., the Internet
classifieds company that the Company acquired in 2007.&#160;&#160;Prior to that,
Mr. LeClaire was Vice President and Chief Financial Officer of Utah Medical
Products, Inc., a multi-national medical device corporation that is presently
traded on the NASDAQ Global Market (UTMD).&#160;&#160;Mr. LeClaire has
significant experience in the areas of finance and accounting, SEC reporting,
Sarbanes-Oxley compliance, budgeting and financial management.&#160;&#160;He
holds a Master of Science degree in management from </font><font style="DISPLAY: inline; COLOR: #000000">Stanford</font><font style="DISPLAY: inline; COLOR: #000000">&#160;</font><font style="DISPLAY: inline; COLOR: #000000">University</font><font style="DISPLAY: inline; COLOR: #000000">&#8217;s Graduate School of Business and a
Bachelor of Science degree in accounting from the </font><font style="DISPLAY: inline; COLOR: #000000">University</font><font style="DISPLAY: inline; COLOR: #000000"> of </font><font style="DISPLAY: inline; COLOR: #000000">Utah</font><font style="DISPLAY: inline; COLOR: #000000">.</font></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; COLOR: #000000">Messrs. Edelhart and LeClaire will each
receive annual cash compensation in the amount of $36,000 for their service as
non-employee directors.&#160;&#160;Mr. LeClaire will receive an additional
$10,000 annual fee in connection with his service as chair of the Audit
Committee</font><font style="DISPLAY: inline; COLOR: #000000">.&#160;&#160;In
addition, </font><font style="DISPLAY: inline; COLOR: #000000">the newly
appointed directors</font><font style="DISPLAY: inline; COLOR: #000000">
were</font><font style="DISPLAY: inline; COLOR: #000000"> each</font><font style="DISPLAY: inline; COLOR: #000000"> granted 10,000 shares of restricted
common stock of the Company upon their </font><font style="DISPLAY: inline; COLOR: #000000">appointment</font><font style="DISPLAY: inline; COLOR: #000000"> to the Board.</font></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; COLOR: #000000">Other than as described above, Messrs.
Edelhart and LeClaire were not appointed to the Board pursuant to any
arrangement or understanding with any other person and are not participants in
any existing or proposed transaction with the Company.</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Appointment of New Chairman
of the Board</font></font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Also on May 22, 2008, the Board
appointed Rajesh Navar as its chairman.&#160;&#160;Mr. Navar replaces Joseph
Cunningham as chairman, effective immediately.&#160;&#160;Mr. Cunningham remains
a director of the Company.&#160; <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
connection with his appointment as Chairman, Mr. Navar has decided to devote
more time to his duties on the Board.&#160;&#160;As a result, contrary to what
was previously disclosed in the Form 8-K that the Company filed on May 19, 2008,
Mr. Navar will not be spending more time in India.</font></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      </div>
    </div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNATURES</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div align="left">
      <table cellpadding="0" cellspacing="0" width="100%">
          <tr>
            <td align="left" valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="50%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">LIVEDEAL,
      INC.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr>
          <tr>
            <td align="left" valign="top" width="50%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Date:
      May 23, 2008</font></div>
            </td>
            <td align="left" valign="top" width="50%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">/s/ Gary L. Perschbacher</font></font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="50%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Gary
      L. Perschbacher</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="50%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Chief
      Financial Officer</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>&#160;</div>
    <div>
      <hr style="COLOR: black" align="left" noshade size="2" width="100%">
    </div>
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