<SEC-DOCUMENT>0001171520-15-000564.txt : 20151014
<SEC-HEADER>0001171520-15-000564.hdr.sgml : 20151014
<ACCEPTANCE-DATETIME>20151014120121
ACCESSION NUMBER:		0001171520-15-000564
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20151014
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20151014
DATE AS OF CHANGE:		20151014

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SONO TEK CORP
		CENTRAL INDEX KEY:			0000806172
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690]
		IRS NUMBER:				141568099
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			0228

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-16035
		FILM NUMBER:		151157709

	BUSINESS ADDRESS:	
		STREET 1:		2012 RT 9W BLDG 3
		CITY:			MILTON
		STATE:			NY
		ZIP:			12547
		BUSINESS PHONE:		8457952020

	MAIL ADDRESS:	
		STREET 1:		2012 RT. 9W, BLDG. 3,
		CITY:			MILTON
		STATE:			NY
		ZIP:			12547
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>eps6471.htm
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<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0; text-align: center">UNITED STATES</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0; text-align: center">Washington, D.C. 20549</P>

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

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K</B></P>

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

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0; text-align: center">Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934</P>

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

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0; text-align: center">Date of Report (Date of earliest event reported): October
14, 2015</P>

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

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0; text-align: center"><U>Sono-Tek Corporation</U></P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified in its charter)</P>

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

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0; text-align: center">Commission File Number: 0-16035</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 58%; text-decoration: underline; text-align: center"><FONT STYLE="font-family: Cambria, Times, Serif"><U>New York</U></FONT></TD>
    <TD STYLE="width: 42%; text-decoration: underline; text-align: center"><FONT STYLE="font-family: Cambria, Times, Serif"><U>14-1568099</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Cambria, Times, Serif">(State of Incorporation)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Cambria, Times, Serif">(I.R.S. Employer ID No.)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font-family: Cambria, Times, Serif"><U>2012 Route 9W, Milton, New York</U></FONT></TD>
    <TD STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font-family: Cambria, Times, Serif"><U>12547</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Cambria, Times, Serif">(Address of Principal Executive Offices)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Cambria, Times, Serif">(Zip Code)</FONT></TD></TR>
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<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0; text-align: center">Registrant&rsquo;s telephone number, including area
code (845) 795-2020</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">Check appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligations of the registrant under any of the following provisions:</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: MS Mincho">&#9744;</FONT></TD><TD><FONT STYLE="font-family: Cambria, Times, Serif">Written communications pursuant to Rule 425 under Securities Act (17 CFR 230.425)</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: MS Mincho">&#9744;</FONT></TD><TD><FONT STYLE="font-family: Cambria, Times, Serif">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: MS Mincho">&#9744;</FONT></TD><TD><FONT STYLE="font-family: Cambria, Times, Serif">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: MS Mincho">&#9744;</FONT></TD><TD><FONT STYLE="font-family: Cambria, Times, Serif">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0"><B>Item 2.02: Results of Operations and Financial Condition.</B></P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0"><B>Item 7.01: Regulation FD Disclosure</B></P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">On October 14, 2015, Sono-Tek Corporation issued a press release regarding
its financial results for the quarter ended August 31, 2015, in the form attached as exhibit 99.1</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0"><B>Item 9.01: Financial Statements and Exhibits.</B></P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">(d) Exhibits</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">99.1&nbsp;&nbsp;&nbsp;&nbsp;Press Release dated October 14, 2015.</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0; text-align: center"><B>Signatures</B></P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">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.</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0 0 0 3in; text-align: center; text-indent: 0.5in">SONO-TEK CORPORATION</P>

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

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0 0 0 3in; text-align: center; text-indent: 0.5in">By: <U>/s/ Stephen J. Bagley</U></P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0 0 0 3.5in; text-align: center">Stephen J. Bagley</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0 0 0 3in; text-align: center; text-indent: 0.5in">Chief Financial Officer</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0 0 0 3in; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">October 14, 2015</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

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

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex99-1.htm
<DESCRIPTION>SONO-TEK ANNOUNCES SECOND QUARTER RESULTS
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<P STYLE="font: bold 12pt Cambria, Times, Serif; margin: 0 0.25in 0 13.5pt; text-align: right">Exhibit 99.1</P>

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

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0 0.8in; text-align: center"><B><U>Sono-Tek Announces Second Quarter Results
</U></B></P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0 0.8in">&nbsp;</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">(October 14, 2015 - Milton, NY) Sono-Tek Corporation (OTC QX: SOTK) today
announced sales of $2,975,000 for the three months ended August 31, 2015, compared to sales of $2,634,000 for the prior year period,
an increase of $341,000 or 13%. Although not directly reported, a comparison of the three months ended August 31, 2015 to the three
months ended May 31, 2015, also showed an increase in sales of $92,000 or 3%, continuing an upward trend for this Fiscal Year.</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">The current quarter&rsquo;s increase was due to sales of Servo units to
the electronics printed circuit board industry combined with sales of WideTrack large coating lines to the glass industry which
is currently enjoying strength due to lower energy prices. In addition, during the quarter, the Company sold a special Widetrack
system, valued at $360,000 to a significant global food manufacturer. This sale represents the Company&rsquo;s single largest sale
to the food industry to date. The customer has the potential to buy an additional system every 12 to 18 months as part of a planned
multi-year roll out of our technology among all of its manufacturing sites.</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">Based on backlog, recent shipments, and proposals, the Company is expecting
another increase in revenue for the third quarter of this Fiscal Year in comparison to last year&rsquo;s results. More specifically,
the Company expects to see strength in sales of its three axis coating equipment, medical device coaters, and WideTrack Coating
systems to the glass and textile industries, and the food applications industry.</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">The Company reported net income of $144,000 for the three months ended August
31, 2015, compared to $115,000 for the prior year period, an increase of $29,000. The Company also expects to report continuing
profitability in the third quarter, based on current backlog and shipments to date.</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">Dr. Christopher L. Coccio, Sono-Tek&rsquo;s Chairman and CEO, stated that,
&ldquo;We are pleased with the continuing strengthening of our business, as viewed from our quarter to quarter proposal backlog
and sales activity. We communicated these trends at the Annual Shareholders Meeting on August 13, 2015, where we reiterated our
goal of sales growth versus last year, combined with an annual revenue goal of $20 million by 2020. We anticipate that our future
growth will benefit from the recent creation of our New Product Development Team, which will accelerate the pace of new coating
systems for penetrating additional markets for ultrasonic atomization spraying and coating&rdquo;.</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">For further information, contact Dr. Christopher L. Coccio, at 845-795-2020,
or visit our website at <FONT STYLE="color: blue">www.sono-tek.com</FONT></P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">Sono-Tek Corporation is a leading developer and manufacturer of liquid spray
products based on its proprietary ultrasonic nozzle technology. Founded in 1975, the Company&rsquo;s products have long been recognized
for their performance, quality, and reliability.</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0 1.2in; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 9pt Cambria, Times, Serif; margin: 0 1in"><I>This earnings release contains forward looking statements regarding
future events and the future performance of Sono-Tek Corporation that involve risks and uncertainties that could cause actual results
to differ materially. These factors include, among other considerations, general economic and business conditions; political, regulatory,
competitive and technological developments affecting our operations or the demand for our products; timely development and market
acceptance of new products; our ability to meet our short and long term revenue and earnings per share targets; continued growth
opportunities in the food market, including sales of additional thin film spray coating process equipment to a significant global
food manufacturer every 12 to 18 months; the continued effectiveness of our growth model; maintenance and growth of backlog; consummation
of order proposals and anticipated sales of three axis coating equipment, medical device coaters and WideTrack coating systems;
adequacy of financing; capacity additions, the ability to enforce patents, acceptance of our advanced medical device platform.
We refer you to documents that the company files with the Securities and Exchange Commission, which includes Form 10-K and Form
10-Qs containing additional important information</I>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 1in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 1in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 1in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 1in">&nbsp;</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0; text-align: center">Sono-Tek Corporation</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0; text-align: center">Selected Financial Data</P>

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

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif"><U>Six Months Ended August 31,</U></FONT></TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif"><U>Three Months Ended August 31,</U></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 35%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 13%; text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif"><U>2015</U></FONT></TD>
    <TD NOWRAP STYLE="width: 18%; text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif"><U>2014</U></FONT></TD>
    <TD NOWRAP STYLE="width: 13%; text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif"><U>2015</U></FONT></TD>
    <TD NOWRAP STYLE="width: 21%; text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif"><U>2014</U></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD NOWRAP><FONT STYLE="font: 10pt Cambria, Times, Serif">Net Sales</FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>$5,857,570</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>$5,054,426</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>$2,974,673</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>$2,633,727</U></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD NOWRAP><FONT STYLE="font: 10pt Cambria, Times, Serif">Gross Profit</FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>$2,862,735</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>$2,450,053</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>$1,489,604</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>$1,302,087</U></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD NOWRAP><FONT STYLE="font: 10pt Cambria, Times, Serif">Income Before Taxes</FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>$403,348</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>$270,356</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>$196,111</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>$188,564</U></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD NOWRAP><FONT STYLE="font: 10pt Cambria, Times, Serif">Net Income</FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>$297,612</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>$181,667</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>$143,590</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>$115,024</U></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD NOWRAP><FONT STYLE="font: 10pt Cambria, Times, Serif">Basic Earnings Per Share </FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>$0.02</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>$0.01</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>$0.01</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>$0.01</U></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD NOWRAP><FONT STYLE="font: 10pt Cambria, Times, Serif">Diluted Earnings Per Share </FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>$0.02</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>$0.01</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>$0.01</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>$0.01</U></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD NOWRAP><FONT STYLE="font: 10pt Cambria, Times, Serif">Weighted Average Shares - Basic </FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>14,938,615</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>14,711,770</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>14,944,124</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>14,713,788</U></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD NOWRAP><FONT STYLE="font: 10pt Cambria, Times, Serif">Weighted Average Shares - Diluted</FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>15,033,588</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>14,859,769</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>15,046,066</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif; text-underline-style: double"><U>14,876,819</U></FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 1in">&nbsp;</P>


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