<SEC-DOCUMENT>0001171520-16-001064.txt : 20161013
<SEC-HEADER>0001171520-16-001064.hdr.sgml : 20161013
<ACCEPTANCE-DATETIME>20161013154552
ACCESSION NUMBER:		0001171520-16-001064
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20161013
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20161013
DATE AS OF CHANGE:		20161013

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:		161934982

	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>eps6984.htm
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<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0; text-align: center">UNITED STATES</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 11pt 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: 11pt Cambria, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0; text-align: center">Date of Report (Date of earliest event reported): October
13, 2016</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0; text-align: center"><B><U>Sono-Tek Corporation</U></B></P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified in its charter)</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0; text-align: center">Commission File Number: 0-16035</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 50%; text-decoration: underline; text-align: center"><FONT STYLE="font-family: Cambria, Times, Serif; font-size: 11pt"><U>New York</U></FONT></TD>
    <TD STYLE="width: 50%; text-decoration: underline; text-align: center"><FONT STYLE="font-family: Cambria, Times, Serif; font-size: 11pt"><U>14-1568099</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Cambria, Times, Serif; font-size: 11pt">(State of Incorporation)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Cambria, Times, Serif; font-size: 11pt">(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; font-size: 11pt"><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; font-size: 11pt"><U>12547</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Cambria, Times, Serif; font-size: 11pt">(Address of Principal Executive Offices)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Cambria, Times, Serif; font-size: 11pt">(Zip Code)</FONT></TD></TR>
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<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0; text-align: center">Registrant&rsquo;s telephone number, including area
code (845) 795-2020</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt 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: 11pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.5pt"><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: 11pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.5pt"><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: 11pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.5pt"><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: 11pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.5pt"><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: 11pt Cambria, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0"><B>Item 2.02: Results of Operations and Financial Condition.</B></P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0"><B>Item 7.01: Regulation FD Disclosure</B></P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0">On October 13, 2016, Sono-Tek Corporation issued a press release regarding
its financial results for the quarter ended August 31, 2016, in the form attached as exhibit 99.1.</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0"><B>Item 9.01: Financial Statements and Exhibits.</B></P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0">(d) Exhibits</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0">99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Press Release dated October
13, 2016.</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0 0 0 45pt">&nbsp;</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0; text-align: center"><B>Signatures</B></P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt 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: 11pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0 0 0 3in; text-align: center; text-indent: 0.5in">SONO-TEK CORPORATION</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 11pt 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: 11pt Cambria, Times, Serif; margin: 0 0 0 3in; text-align: center; text-indent: 0.5in">Stephen J. Bagley</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0 0 0 3in; text-align: center; text-indent: 0.5in">Chief Financial Officer</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0">October 13, 2016</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0"><B>&nbsp;</B></P>



<P STYLE="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 AND CONFIRMS PRIOR SALES AND INCOME GUIDANCE
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<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0; text-align: center"><B><U>Sono-Tek Announces Second Quarter Results and
Confirms Prior Sales and Income Guidance</U></B></P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0">(October 13, 2016 - Milton, NY) Sono-Tek Corporation (OTC QX: SOTK) today
announced sales of $2,310,000 for the three months ended August 31, 2016, compared to sales of $2,975,000 for the prior year period,
a decrease of $665,000 or 22%. The Company&rsquo;s second quarter sales level was in line with first quarter sales, as expected,
and as communicated to shareholders in the Company&rsquo;s recent press releases. The current quarter&rsquo;s decrease compared
to the prior year&rsquo;s quarter was primarily due to a slowdown in sales to the electronics industry, particularly in China and
Brazil, both of which have experienced economic problems. During the second quarter, there were no deliveries of the Company&rsquo;s
large WideTrack glass coating lines when compared to several in the prior year&rsquo;s quarter.</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0">The Company anticipates an improvement in revenues in the second half of
the current fiscal year as some customers free up funds for year-end purchases and as sales of the Company&rsquo;s recent new product
introductions expand. The Company is scheduled to ship a large WideTrack System to an Asian glass customer in the third quarter
which is expected to contribute to both the top and bottom lines.</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0">The Company reported a net loss of $90,000 for the three months ended August
31, 2016 as compared to net income of $144,000 for the prior year period. For the six months ended August 31, 2016, the Company
reported a net loss of $34,000 as compared to net income of $298,000 for the prior year period. The Company expects to return to
profitability in the third and fourth quarters of the fiscal year and achieve overall profitability for the Fiscal Year, as discussed
in the Company&rsquo;s August 26, 2016 press release.</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0">Dr. Christopher L. Coccio, Sono-Tek&rsquo;s Chairman and CEO stated that,
&ldquo;Sono-Tek has experienced quarterly and annual revenue fluctuations in the past, primarily due to economic factors or the
timing of larger shipments to its customers. Sono-Tek has proven resiliency in riding out these ups and downs, and expects to continue
to do so. The Company has accumulated a significant amount of cash and marketable securities in recent years, which cushions it
from these revenue variations, while still permitting the Company to pursue a strategy of adding new ultrasonic product applications
to its market basket. This strategy has allowed the Company to grow organically in the past, and it expects to do so in the future.&rdquo;</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt 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: 11pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt 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: 11pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0"><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; adequacy of financing; capacity additions, the ability to enforce patents, acceptance of our advanced
medical device platform; the sufficiency of cash and marketable securities to cushion against revenue fluctuations; and the ability
to achieve increased sales volume from customers&rsquo; year end purchases at projected levels and a return to profitability. 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: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0; text-align: center">Sono-Tek Corporation</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0; text-align: center">Selected Financial Data</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0; text-align: center">Unaudited</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Cambria, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; 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"><B><U>Six Months Ended August 31,</U></B></FONT></TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif"><B><U>Three Months Ended August 31,</U></B></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"><B><U>2016</U></B></FONT></TD>
    <TD NOWRAP STYLE="width: 19%; text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif"><B><U>2015</U></B></FONT></TD>
    <TD NOWRAP STYLE="width: 13%; text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif"><B><U>2016</U></B></FONT></TD>
    <TD NOWRAP STYLE="width: 20%; text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Cambria, Times, Serif"><B><U>2015</U></B></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: 11pt Cambria, Times, Serif">Net Sales</FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 11pt Cambria, Times, Serif; text-underline-style: double"><U>$4,550,663</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 11pt 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: 11pt Cambria, Times, Serif; text-underline-style: double"><U>$2,310,451</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 11pt Cambria, Times, Serif; text-underline-style: double"><U>$2,974,673</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: 11pt Cambria, Times, Serif">Gross Profit</FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 11pt Cambria, Times, Serif; text-underline-style: double"><U>$2,048,716</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 11pt 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: 11pt Cambria, Times, Serif; text-underline-style: double"><U>$1,025,313</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 11pt Cambria, Times, Serif; text-underline-style: double"><U>$1,489,604</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: 11pt Cambria, Times, Serif">(Loss) Income Before Taxes</FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 11pt Cambria, Times, Serif; text-underline-style: double"><U>($21,882)</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 11pt 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: 11pt Cambria, Times, Serif; text-underline-style: double"><U>($87,298)</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 11pt Cambria, Times, Serif; text-underline-style: double"><U>$196,111</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: 11pt Cambria, Times, Serif; text-underline-style: double">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 11pt Cambria, Times, Serif; text-underline-style: double">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 11pt Cambria, Times, Serif; text-underline-style: double">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 11pt 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: 11pt Cambria, Times, Serif">Net (Loss) Income</FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 11pt Cambria, Times, Serif; text-underline-style: double"><U>($33,882)</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 11pt 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: 11pt Cambria, Times, Serif; text-underline-style: double"><U>($89,673)</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 11pt Cambria, Times, Serif; text-underline-style: double"><U>$143,590</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: 11pt Cambria, Times, Serif">Basic Earnings (Loss) Per Share </FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 11pt Cambria, Times, Serif; text-underline-style: double"><U>$0.00</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 11pt 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: 11pt 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: 11pt 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: 11pt Cambria, Times, Serif">Diluted Earnings (Loss) Per Share </FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 11pt Cambria, Times, Serif; text-underline-style: double"><U>$0.00</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 11pt 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: 11pt 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: 11pt 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: 11pt Cambria, Times, Serif">Weighted Average Shares - Basic </FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 11pt Cambria, Times, Serif; text-underline-style: double"><U>14,961,076</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 11pt 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: 11pt Cambria, Times, Serif; text-underline-style: double"><U>14,961,076</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 11pt Cambria, Times, Serif; text-underline-style: double"><U>14,944,124</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: 11pt Cambria, Times, Serif">Weighted Average Shares - Diluted</FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 11pt Cambria, Times, Serif; text-underline-style: double"><U>14,961,076</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 11pt 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: 11pt Cambria, Times, Serif; text-underline-style: double"><U>14,961,076</U></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 11pt Cambria, Times, Serif; text-underline-style: double"><U>15,046,066</U></FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 1in">&nbsp;</P>


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