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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001144204-07-014388.txt : 20070323
<SEC-HEADER>0001144204-07-014388.hdr.sgml : 20070323
<ACCEPTANCE-DATETIME>20070323165010
ACCESSION NUMBER:		0001144204-07-014388
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20070320
ITEM INFORMATION:		Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20070323
DATE AS OF CHANGE:		20070323

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SBE INC
		CENTRAL INDEX KEY:			0000087050
		STANDARD INDUSTRIAL CLASSIFICATION:	COMPUTER COMMUNICATIONS EQUIPMENT [3576]
		IRS NUMBER:				941517641
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-08419
		FILM NUMBER:		07715723

	BUSINESS ADDRESS:	
		STREET 1:		4550 NORRIS CANYON ROAD
		CITY:			SAN RAMON
		STATE:			CA
		ZIP:			94583
		BUSINESS PHONE:		5103552000

	MAIL ADDRESS:	
		STREET 1:		4550 NORRIS CANYON RD
		CITY:			SAN RAMON
		STATE:			CA
		ZIP:			94583
</SEC-HEADER>
<DOCUMENT>
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      the
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      satisfy the filing obligation of the registrant under any of the following
      provisions (</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>see</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
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      Written communications
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      Soliciting material pursuant to Rule
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      Pre-commencement communications pursuant
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      Pre-commencement communications pursuant
      to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
      3.01: NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING RULE OR
      STANDARD; TRANSFER OF LISTING</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 7.75pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      March
      20, 2007, SBE, Inc. (the &#8220;Company&#8221;) received a staff determination letter from
      The Nasdaq Stock Market (&#8220;Nasdaq&#8221;) that the Company&#8217;s common stock is subject to
      delisting from The Nasdaq Capital Market due to its failure to comply with
      Marketplace Rule 4310(c)(2)(B) which requires the Company to maintain minimum
      shareholders&#8217; equity of $2.5 million, or $35.0 million market value of listed
      securities, or $500,000 of net income from continuing operations for the most
      recently completed fiscal year or two of the three most recently completed
      fiscal years.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 7.75pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 7.75pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As
      previously reported, on January 11, 2007, the Company received a staff
      determination letter from Nasdaq stating that it's common stock is subject
      to
      delisting from The Nasdaq Capital Market for failure to comply with Marketplace
      Rule 4310(c)(4) which requires the Company to maintain a minimum bid price
      of
      $1.00. The Company filed an appeal of the staff&#8217;s determination of January 11,
      2007 to the Nasdaq Listings Qualifications Panel (the Panel). Delisting of
      the
      Company&#8217;s stock from Nasdaq is stayed pending the determination of the Panel.
      The appeals hearing was held on February 22, 2007 and the Company is awaiting
      the Panel&#8217;s determination. The Panel has indicated that it will also consider
      the Company&#8217;s failure to maintain a minimum shareholders&#8217; equity of $2.5 million
      in rendering a determination regarding the Company&#8217;s continued listing on The
      Nasdaq Capital Market. Pursuant to Marketplace Rule 4804(c), the Company has
      until March 27, 2007 to present its plan of corrective action to the Panel.
      </font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A
      special
      meeting of the SBE stockholders has been scheduled for March 29, 2007 to approve
      the sale of the company&#8217;s embedded hardware business to One Stop Systems and to
      approve a 1 for 5 reverse stock split. A proxy statement detailing the sale
      transaction and reverse stock split has been mailed to all SBE shareholders
      of
      record as of March 6, 2007. The reverse stock split will be sufficient to
      increase the bid price on the company&#8217;s common stock to $1.00 or more and the
      company will record a gain on the sale of its embedded hardware business that
      will be sufficient to correct the deficit in stockholders&#8217; equity, correcting
      both the bid price and shareholder equity deficiencies. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 7.75pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A
      copy of
      the Company&#8217;s press release announcing receipt of the staff determination letter
      is attached hereto as Exhibit 99.1 and is incorporated herein by
      reference.</font></div>
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      9.01. FINANCIAL STATEMENTS AND EXHIBITS.</font></div>
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            <td align="left">&#160;</td>
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            <td align="left" style="width: 36pt;"><font size="2">99.1</font></td>
            <td align="left"><font size="2">Press Release, dated March 23,
              2007.</font></td>
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      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, thereunto
      duly authorized.</font></div>
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      March 23, 2007</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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          <tr valign="top" bgcolor="#ffffff">
            <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
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                Inc. </strong></font></div>
            </td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
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            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">By:&#160;&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">/s/&#160;David
              W
              Brunton</font></td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">David
                W Brunton</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Chief
                  Financial Officer</font></div>
              </div>
            </td>
          </tr>
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            <td>&#160;</td>
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    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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      TO EXHIBITS</strong></font></div>
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                Number</u></strong></font></div>
            </td>
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            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>99.1</strong></font></div>
            </td>
            <td align="left" valign="top" width="2%">&#160;</td>
            <td align="left" valign="top" width="78%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press
                Release of SBE, Inc., dated March 23,
                2007</font></div>
            </td>
          </tr>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v069190_ex99-1.htm
<TEXT>
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    <div>&#160;</div>
    <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>EXHIBIT
      99.1</strong></font></div>
    <div>
      <div align="center">
        <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">

            <tr bgcolor="white">
              <td width="45%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>
              </td>
              <td valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><strong><font size="2">Contact:</font></strong><font id="TAB2" style="COLOR: black; LETTER-SPACING: 166.5pt">&#160;</font></div>
              </td>
              <td width="45%"><font size="2">David W. Brunton, Chief Financial
                Officer</font>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SBE,
                  Inc.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 4.5pt">&#160;</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(925)
                  355-7700</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>davidb@sbei.com</u></font></div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: -9pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SBE,
        Inc. Announces Receipt of Nasdaq Staff Determination
        Letter</strong></font><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 7.75pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SAN
        RAMON, CA, March 23, 2007</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol">-</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        SBE,
        Inc. (Nasdaq: SBEI), today announced that it received a staff determination
        letter from The Nasdaq Stock Market Inc. (Nasdaq) on March 20, 2007 stating
        that
        the Company's common stock is subject to delisting from The Nasdaq Capital
        Market for failure to comply with Marketplace Rule 4310(c)(2)(B), which requires
        the company to maintain minimum stockholders&#8217; equity of $2.5 million, or $35.0
        million market value of listed securities, or $500,000 of net income from
        continuing operations for the most recently completed fiscal year or two
        of the
        three most recently completed fiscal years.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 7.75pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 7.75pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As
        previously reported, on January 11, 2007, the company received a staff
        determination letter from Nasdaq stating that its common stock is subject
        to
        delisting from The Nasdaq Capital Market for failure to comply with Marketplace
        Rule 4310(c)(4) which requires the Company to maintain a minimum bid price
        of
        $1.00. The company filed an appeal of the staff&#8217;s determination of January 11,
        2007 to the Nasdaq Listings Qualifications Panel (the Panel). Delisting of
        the
        company&#8217;s common stock from Nasdaq is stayed pending the determination of the
        Panel. The appeals hearing was held on February 22, 2007 and the company
        is
        awaiting the Panel&#8217;s determination. Nasdaq has indicated that the Panel will
        also consider the Company&#8217;s failure to maintain a minimum stockholders&#8217; equity
        of $2.5 million in rendering a determination regarding the Company&#8217;s continued
        listing on The Nasdaq Capital Market. Pursuant to Marketplace Rule 4804(c),
        the
        company has until March 27, 2007 to present its plan of corrective action
        to the
        Panel. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A
        special
        meeting of the SBE stockholders has been scheduled for March 29, 2007 to
        approve
        the sale of the company&#8217;s embedded hardware business to One Stop Systems and to
        approve a 1 for 5 reverse stock split. A proxy statement detailing the sale
        transaction and reverse stock split has been mailed to all SBE shareholders
        of
        record as of March 6, 2007. The reverse stock split will be sufficient to
        increase the bid price on the company&#8217;s common stock to $1.00 or more and the
        company will record a gain on the sale of its embedded hardware business
        that
        will be sufficient to correct the deficit in stockholders&#8217; equity, correcting
        both the bid price and shareholder equity deficiencies. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: -18pt" align="left">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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          </div>
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      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: -18pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: -18pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>About
        SBE</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SBE
        designs and provides IP-based storage networking solutions for an extensive
        range of business critical applications, including back-up and disaster
        recovery. SBE delivers a portfolio of scalable, standards-based hardware
        and
        software products designed to enable optimal performance and rapid deployment
        across a wide range of next-generation storage systems. Based in San Ramon,
        California, SBE is a publicly traded company (NASDAQ: SBEI) with products
        sold
        worldwide through direct sales, OEMs and system integration partners. More
        information is available at </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>www.sbei.com</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Forward-Looking
        Statements</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: -1.8pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
        news
        release contains certain forward-looking statements that involve risks and
        uncertainties, including statements about a hearing before the Nasdaq Listing
        Qualifications Panel. Such statements are only predictions and the company&#8217;s
        actual results may differ materially from those anticipated in these
        forward-looking statements. These factors and others are more fully discussed
        in
        the documents the company files from time to time with the Securities and
        Exchange Commission, particularly, the Form 8-K filed with the Securities
        and
        Exchange Commission on the date hereof and the company's most recent Form
        10-K
        and Form 10-Q. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SBE
        and
        the SBE logo are registered trademarks of SBE, Inc. </font></div>
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