<SEC-DOCUMENT>0001171520-20-000404.txt : 20201014
<SEC-HEADER>0001171520-20-000404.hdr.sgml : 20201014
<ACCEPTANCE-DATETIME>20201014162400
ACCESSION NUMBER:		0001171520-20-000404
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20201014
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20201014
DATE AS OF CHANGE:		20201014

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:		201239270

	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>eps9255.htm
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<P STYLE="font: 12pt Cambria,serif; margin: 0; text-align: center">UNITED STATES</P>

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

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

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

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

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

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

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

<P STYLE="font: 11pt Cambria,serif; margin: 0; text-align: center">Date of Report (Date of earliest event reported): <B>October
14, 2020</B></P>

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

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

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 52%; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Cambria,serif; font-size: 10pt"><B><U>New York</U></B></FONT></TD>
    <TD STYLE="width: 5%; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 43%; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Cambria,serif; font-size: 10pt"><B><U>14-1568099</U></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Cambria,serif; font-size: 10pt">(State of Incorporation)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Cambria,serif; font-size: 10pt">(I.R.S. Employer ID No.)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Cambria,serif; font-size: 10pt"><B><U>2012 Route 9W, Milton, New York</U></B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Cambria,serif; font-size: 10pt"><B><U>12547</U></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Cambria,serif; font-size: 10pt">(Address of Principal Executive Offices)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Cambria,serif; font-size: 10pt">(Zip Code)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Cambria,serif; margin: 0">&nbsp;</P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 12pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-bottom: 6pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: MS Mincho; font-size: 10.5pt">&#9744;</FONT></TD>
    <TD STYLE="width: 95%; padding-bottom: 6pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Cambria,serif; font-size: 10.5pt">Written communications pursuant to Rule 425 under Securities Act (17 CFR 230.425)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: MS Mincho; font-size: 10.5pt">&#9744;</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Cambria,serif; font-size: 10.5pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: MS Mincho; font-size: 10.5pt">&#9744;</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Cambria,serif; font-size: 10.5pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: MS Mincho; font-size: 10.5pt">&#9744;</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Cambria,serif; font-size: 10.5pt">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,serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 11pt Cambria,serif; margin: 0">Securities registered pursuant to Section 12(b) of the Act:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 30%; font-family: Times New Roman,serif"><FONT STYLE="font-family: Cambria,serif; font-size: 9pt"><B><U>Title of each class</U></B></FONT></TD>
    <TD STYLE="width: 13%; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Cambria,serif; font-size: 9pt"><B>Trading</B></FONT><FONT STYLE="font-size: 9pt"><BR>
<FONT STYLE="font-family: Cambria,serif"><B><U>Symbol(s)</U></B></FONT></FONT></TD>
    <TD STYLE="width: 57%; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Cambria,serif; font-size: 9pt"><B><U>Name of each exchange on which registered</U></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">None</FONT></TD>
    <TD STYLE="padding-top: 3pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt">N/A</FONT></TD>
    <TD STYLE="padding-top: 3pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt">N/A</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Cambria,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Cambria,serif; margin: 0">Indicate by check mark whether the registrant is an emerging growth company as defined
in Rule 405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
(&sect;240.12b-2 of this chapter).</P>

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

<P STYLE="font: 11pt Times New Roman,serif; margin: 0"><FONT STYLE="font-family: Cambria,serif">Emerging growth company </FONT><FONT STYLE="font-family: MS Mincho">&#9744;</FONT></P>

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

<P STYLE="font: 11pt Times New Roman,serif; margin: 0"><FONT STYLE="font-family: Cambria,serif">If an emerging growth company,
indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised
financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. </FONT><FONT STYLE="font-family: MS Mincho">&#9744;</FONT></P>

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


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

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

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

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

<P STYLE="font: 11pt Cambria,serif; margin: 0">On October 14, 2020, Sono-Tek Corporation issued a press release regarding its financial
results for the quarter ended August 31, 2020 in the form attached as exhibit 99.1.</P>

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

<P STYLE="font: 11pt Cambria,serif; margin: 0">The information furnished pursuant to this Item 7.01, including Exhibit 99.1, shall
not be deemed &ldquo;filed&rdquo; for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange
Act&rdquo;) or otherwise subject to the liabilities under such section and shall not be deemed to be incorporated by reference
into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act.</P>

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

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

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

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

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

<P STYLE="font: 11pt Cambria,serif; margin: 0">99.1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="ex99-1.htm">Press Release dated October 14, 2020</A>.</P>

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

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-indent: 45.8pt">&nbsp;</P>

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

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

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

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

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

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

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

<P STYLE="font: 11pt Cambria,serif; margin: 0">October 14, 2020</P>

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

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

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<DESCRIPTION>FOR IMMEDIATE RELEASE
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<P STYLE="font: 12pt Cambria,serif; margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="font: 12pt Cambria,serif; margin: 0">FOR IMMEDIATE RELEASE</P>

<P STYLE="font: 16pt Cambria,serif; margin: 12pt 0 6pt; text-align: center"><B>Sono-Tek Reports Sales of $3.48 million<BR>
in Second Quarter Fiscal 2021 and 50% Increase in Net Income and <BR>
Provides Second Half FY2021 Sales Guidance</B></P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0 0 4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 4pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 12pt">&middot;</FONT></TD><TD><FONT STYLE="font-family: Cambria,serif; font-size: 12pt">Second quarter revenues increased 4% to $3.48 million; second quarter
gross margin was 46.6% versus 46.2%</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 4pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 12pt">&middot;</FONT></TD><TD><FONT STYLE="font-family: Cambria,serif; font-size: 12pt">Second quarter net income increased 50% to $178,000</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 4pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 12pt">&middot;</FONT></TD><TD><FONT STYLE="font-family: Cambria,serif; font-size: 12pt">First half FY2021 sales of $6.9 million increased 12% year-over-year;
net income of $346,000, more than doubled from the $140,000 reported in the prior year period </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 4pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 12pt">&middot;</FONT></TD><TD><FONT STYLE="font-family: Cambria,serif; font-size: 12pt; color: windowtext">Backlog increased 45% to $5.1 million from February
29, 2020</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 4pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 12pt">&middot;</FONT></TD><TD><FONT STYLE="font-family: Cambria,serif; font-size: 12pt">Second half of fiscal 2021, ending November 30, 2020, is expected
to continue on the increasing sales trend experienced in the second quarter, as global industrial businesses continue to recover.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Cambria,serif; margin: 10pt 0">MILTON, N.Y., October 14, 2020 &ndash; Sono-Tek Corporation (OTCQX: SOTK),
the leading developer and manufacturer of ultrasonic coating systems, today reported financial results for its fiscal year 2021
second quarter and year-to-date period ended August 31, 2020.</P>

<P STYLE="font: 12pt Cambria,serif; margin: 6pt 0.7pt 6pt 0">Dr. Christopher L. Coccio, Chairman and CEO, commented, &ldquo;In
the second quarter of FY2021, Sono-Tek recorded 4% revenue growth and a 50% increase in our bottom line compared to last year&rsquo;s
second quarter. The increase in net income reflects growth in revenue and gross profit as well as tight expense control and reductions.
The Coronavirus has impacted some of our customers, particularly in the timing of orders, but we have been able to win orders in
other areas to maintain some of our pre-Covid positive momentum, as demonstrated by the first half of the year 45% increase in
backlog. We believe that our performance has been excellent given the uncertainties that most businesses have faced this year.&rdquo;</P>

<P STYLE="font: 12pt Cambria,serif; margin: 6pt 0.7pt 6pt 0">&ldquo;The growth in sales was driven by a significant shipment of
an integrated coating system for the industrial market valued at $400k, plus a strong quarter for Multi-Axis coating machines sold
to the Alternative Energy market, which combined to offset the slight decrease in sales of fluxing systems and other smaller units.
The Alternative Energy market growth was driven by US companies interested in electrolyzer and fuel cell coating equipment, which
is associated with carbon reduction energy supply. Our Medical business experienced a dip in revenue as several orders were put
on hold due to COVID, but we are optimistic these will come back as various countries come back online,&rdquo; continued Dr. Coccio.</P>

<P STYLE="font: 12pt Cambria,serif; margin: 6pt 0.7pt 6pt 0">&ldquo;Our strategy to provide customers with a high level of application
engineering support, in combination with large complex ultrasonic coating systems that are often highly customized, continues to
cushion our business in these difficult times. For example, in July we announced a $1.5 million order for a highly engineered proprietary
6-axis ultrasonic coating system for an important European customer in the electronics industry. This order is among the largest
orders that we&rsquo;ve received in our history and is a direct result of the close collaboration between our engineers and the
customer. These types of orders have increased in frequency over the past few years, and importantly, have increased our average
revenue per order from tens of thousands of dollars to hundreds of thousands of dollars currently.&rdquo;</P>

<P STYLE="font: 12pt Cambria,serif; margin: 6pt 0.7pt 6pt 0">&ldquo;As a result of the increase in our backlog this quarter, we
are expecting third quarter revenues to increase over the second quarter and for this trend to continue through the balance of
the fiscal year, ending February 28, 2021. Sono-Tek&rsquo;s flexibility in quickly refocusing its efforts to those countries that
are operational has been helpful in softening the impact of the pandemic and will continue to be a part of our strategy for the
foreseeable future,&rdquo; concluded Dr. Coccio.</P>


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

<P STYLE="font: 12pt Cambria,serif; margin: 0 0 6pt"><B>Year-to-Date Fiscal 2021 Results </B><FONT STYLE="font-size: 10pt"><I>(Narrative
compares with prior-year period unless otherwise noted)</I></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Cambria, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center">Six Months Ended August 31,</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center">Change</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2020</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">$</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">%</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="width: 44%; text-align: left; padding-left: 5.4pt">Net Sales</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">6,909,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">6,168,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">741,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">12%</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Gross Profit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,182,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,852,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">330,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12%</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font-style: italic; text-align: left; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross Margin</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">46.1%</TD><TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">46.2%</TD><TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Operating Income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">386,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">97,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">289,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">298%</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font-style: italic; text-align: left; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating Margin</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">5.6%</TD><TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">1.6%</TD><TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Net Income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">346,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">140,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">206,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">147%</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font-style: italic; text-align: left; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Margin</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">5.0%</TD><TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">2.3%</TD><TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.4pt">Diluted Earnings Per Share</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.02</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.01</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="padding-left: 5.4pt">Weighted Average Shares - Diluted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,531,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,377,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 12pt Cambria,serif; margin: 0 0 6pt"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Cambria,serif; margin: 0 0 6pt"><B>Second Quarter Fiscal 2021 Results </B><FONT STYLE="font-size: 10pt"><I>(Narrative
compares with prior-year period unless otherwise noted) </I></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Cambria, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center">Three Months Ended August 31,</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center">Change</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2020</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">$</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">%</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="width: 44%; text-align: left; padding-left: 5.4pt">Net Sales</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">3,481,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">3,346,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">135,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">4%</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Gross Profit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,621,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,547,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">74,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5%</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font-style: italic; text-align: left; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross Margin</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">46.6%</TD><TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">46.2%</TD><TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Operating Income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">201,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">92,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">109,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">118%</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font-style: italic; text-align: left; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating Margin</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">5.8%</TD><TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">2.8%</TD><TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Net Income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">178,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">115,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">63,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">55%</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font-style: italic; text-align: left; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Margin</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">5.1%</TD><TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">3.4%</TD><TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.4pt">Diluted Earnings Per Share</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.01</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.01</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="padding-left: 5.4pt">Weighted Average Shares - Diluted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,533,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,399,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 12pt Cambria,serif; margin: 6pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Cambria,serif; margin: 6pt 0"><B>Second Quarter FY2021 Review</B></P>

<P STYLE="font: 12pt Cambria,serif; margin: 0">Sales growth during the second quarter of fiscal 2021 was driven by a significant
shipment of an integrated coating system for the Industrial Market valued at approximately $400,000, combined with a strong quarter
for Multi-Axis coating systems sold to the Alternative Energy markets. The sales increase in these product lines more than offset
the second quarter&rsquo;s sales decrease in fluxing systems and in the Other product category.</P>

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

<P STYLE="font: 12pt Cambria,serif; margin: 0">From a product sales perspective, the Alternative Energy market showed significant
growth, primarily driven by sales to US - based companies for electrolyzer coating equipment used for fuel cell manufacturing and
advanced carbon emission reduction technology. The Company also recorded a strong quarter from the Industrial market resulting
from the latest developed float glass coating platform shipping to a US - based customer. Quarterly demand and revenue in any of
the Market or Product baskets typically varies due to the size and timing of orders, as a result, the multi-quarter totals at year-end
are often more significant than reported in individual quarters, reflecting overall Market and Product trends.</P>

<P STYLE="font: 12pt Cambria,serif; margin: 6pt 0">In the second quarter of fiscal 2021, approximately 38% of sales originated
outside of the United States and Canada compared with 72% in the prior-year period. The decrease in sales originating outside the
US and Canada was influenced by the COVID-19 pandemic, as the Company experienced a decrease in orders from several geographic
territories outside the US during COVID-19 peaks.</P>


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

<P STYLE="font: 12pt Cambria,serif; margin: 6pt 0">For the second quarter of fiscal 2021, gross profit increased $74,000, or 5%,
compared with the prior-year period. Gross profit margin was 46.6% for the second quarter of fiscal 2021 versus 46.2% in the comparable
period. Operating income increased by $109,000, more than doubling to $201,000 in the second quarter of fiscal 2021 compared with
$92,000 for the prior year period. Growth in revenue and gross profit were key factors in the improvement. Operating margin for
the quarter increased to 5.8% compared with 2.8% in the prior year period. Operating leverage enabled the Company to increase its
net income by $63,000, or 55%, to $178,000 compared with $115,000 for the comparable period.</P>

<P STYLE="font: 12pt Cambria,serif; margin: 6pt 0"><B></B></P>

<P STYLE="font: 12pt Cambria,serif; margin: 6pt 0 0"><B>Balance Sheet and Cash Flow Overview</B></P>

<P STYLE="font: 12pt Cambria,serif; margin: 6pt 0">Cash and cash equivalents and short-term investments at quarter-end were $7,825
million, a modest decrease from February 29, 2020, the end of fiscal year 2020. The decrease was the result of the timing of working
capital requirements primarily due to increases in accounts receivable and inventories and decreases in customer deposits and accounts
payable. Higher inventory is necessary to address both customer demand for shorter delivery cycles and increased order levels.</P>

<P STYLE="font: 12pt Cambria,serif; margin: 6pt 0">Year-to-date capital expenditures were $290,000 compared with $319,000 in the
prior-year period. The fiscal 2021 expenditures do not reflect $100,000 in grant proceeds received during the second quarter.&nbsp;
The current period&rsquo;s capital expenditures are for upgrades to the Company&rsquo;s manufacturing facilities.&nbsp; Sono-Tek
anticipates total capital expenditures to be approximately $0.5 million to $0.6 million in fiscal 2021.</P>

<P STYLE="font: 12pt Cambria,serif; margin: 6pt 0">At August 31, 2020, the Company had total debt of $1.6 million, comprised of
$1.0 million in a PPP loan under the CARES Act and $624,000 in mortgage debt on the Company&rsquo;s industrial park complex that
accrues annual interest at a rate of 4.15%.</P>

<P STYLE="font: 12pt Cambria,serif; margin: 6pt 0"><B></B></P>

<P STYLE="font: 12pt Cambria,serif; margin: 6pt 0"><B>About Sono-Tek</B></P>

<P STYLE="font: 12pt Cambria,serif; margin: 0 0 6pt">Sono-Tek Corporation is the leading developer and manufacturer of ultrasonic
coating systems for applying precise, thin film coatings to protect, strengthen or smooth surfaces on parts and components for
the microelectronics/electronics, alternative energy, medical and industrial markets, including specialized glass applications
in construction and automotive.</P>

<P STYLE="font: 12pt Cambria,serif; margin: 0 0 6pt; background-color: white">The Company&rsquo;s solutions are environmentally-friendly,
efficient and highly reliable, and enable dramatic reductions in overspray, savings in raw material, water and energy usage and
provide improved process repeatability, transfer efficiency, high uniformity and reduced emissions.</P>

<P STYLE="font: 12pt Cambria,serif; margin: 6pt 0; background-color: white">Sono-Tek&rsquo;s growth strategy is focused on leveraging
its innovative technologies, proprietary know-how, unique talent and experience, and global reach to further develop thin film
coating technologies that enable better outcomes for its customers&rsquo; products and processes. <FONT STYLE="background-color: white">For
further information, visit<BR>
www.sono-tek.com</FONT>.</P>


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<P STYLE="font: 10pt Cambria,serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Cambria,serif; margin: 0 0.9pt 0 0"><B><I>Safe Harbor Statement<BR>
</I></B><I>This news 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, tax, competitive and technological developments
affecting our operations or the demand for our products; the duration and scope of the COVID-19 pandemic; the extent and duration
of the pandemic&rsquo;s adverse effect on economic and social activity, consumer confidence, discretionary spending and preferences,
labor and healthcare costs, and unemployment rates, any of which may reduce demand for some of our products and impair the ability
of those with whom we do business to satisfy their obligations to us; our ability to sell and provide our services and products,
including as a result of continued pandemic related travel restrictions, mandatory business closures, and stay-at home or similar
orders; any temporary reduction in our workforce, closures of our offices and facilities and our ability to adequately staff and
maintain our operations resulting from the pandemic; the ability of our customers and suppliers to continue their operations as
result of the pandemic, which could result in terminations of contracts, losses of revenue; the recovery of the Electronics/Microelectronics
and Medical markets following COVID-19 related slowdowns; the forgiveness of our PPP loan; and further adverse effects to our supply
chain; maintenance of increased order backlog, including effects of any COVID-19 related cancellations; the imposition of tariffs;
timely development and market acceptance of new products and continued customer validation of our coating technologies; adequacy
of financing; capacity additions, the ability to enforce patents; maintenance of operating leverage; consummation of order proposals;
completion of large orders on schedule and on budget; successful transition from primarily selling ultrasonic nozzles and components
to a more complex business providing complete machine solutions and higher value subsystems; and realization of quarterly and annual
revenues as forecasted. 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 Cambria,serif; margin: 0 0 6pt"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Cambria,serif; margin: 0 0 6pt"><B>For more information, contact:</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 42%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Cambria,serif">Stephen J. Bagley</FONT></TD>
    <TD STYLE="width: 58%; padding-right: 5.4pt; padding-left: 5.4pt; font: 11pt Calibri,sans-serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri,sans-serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Cambria,serif">Chief Financial Officer</FONT></TD>
    <TD STYLE="font: 11pt Calibri,sans-serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri,sans-serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Cambria,serif">Sono-Tek Corporation</FONT></TD>
    <TD STYLE="font: 11pt Calibri,sans-serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri,sans-serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Cambria,serif">info@sono-tek.com</FONT></TD>
    <TD STYLE="font: 11pt Calibri,sans-serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 12pt Cambria,serif; margin: 8pt 0 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 12pt Cambria,serif; margin: 8pt 0 0"><B>Financial Tables Follow</B></P>

<P STYLE="font: 12pt Cambria,serif; margin: 8pt 0 0"><B>&nbsp;&nbsp;</B></P>


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<P STYLE="font: 10pt Cambria,serif; margin: 0; text-align: center"><B>SONO-TEK CORPORATION</B></P>

<P STYLE="font: 10pt Cambria,serif; margin: 0; text-align: center"><B>CONDENSED CONSOLIDATED BALANCE SHEETS</B></P>

<P STYLE="font: 10pt Cambria,serif; margin: 0; text-align: center">&nbsp;</P>


<P STYLE="font: 10pt Cambria,serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 9pt Cambria,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Cambria,serif; text-align: center">August 31,</TD><TD STYLE="font: bold 9pt Cambria,serif">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Cambria,serif; text-align: center">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 9pt Cambria,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Cambria,serif; text-align: center">2020</TD><TD STYLE="font: bold 9pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 9pt Cambria,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Cambria,serif; text-align: center">February 29,</TD><TD STYLE="font: bold 9pt Cambria,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">(Unaudited)</TD><TD STYLE="padding-bottom: 1pt; font: bold 9pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">2020</TD><TD STYLE="padding-bottom: 1pt; font: bold 9pt Cambria,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: bold 10pt Cambria,serif; text-align: center">ASSETS</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">Current Assets:</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 72%; font: 10pt Cambria,serif; text-align: left; padding-left: 0.25in">Cash and cash equivalents</TD><TD STYLE="width: 2%; font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Cambria,serif; text-align: right">3,971,611</TD><TD STYLE="width: 1%; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Cambria,serif; text-align: right">3,659,551</TD><TD STYLE="width: 1%; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; text-indent: -13.5pt; padding-left: 31.5pt">Marketable securities</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">3,852,601</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">4,219,240</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; text-indent: -13.5pt; padding-left: 31.5pt">Accounts receivable (less allowance of $71,000)</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">1,348,648</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">929,701</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-left: 0.25in">Inventories, net</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">2,462,048</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">2,381,891</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Prepaid expenses and other current assets</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">94,835</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">153,698</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-bottom: 1pt; padding-left: 0.75in">Total current assets</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">11,729,743</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">11,344,081</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif">Land</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">250,000</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">250,000</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">Buildings, net</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">1,614,391</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">1,654,061</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; text-indent: -0.25in; padding-left: 0.25in">Equipment, furnishings and building improvements, net</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">1,236,607</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">1,212,578</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">Intangible assets, net</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">97,999</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">106,291</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-bottom: 1pt">Deferred tax asset</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">176,314</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">176,314</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-bottom: 2.5pt">TOTAL ASSETS</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">15,105,054</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">14,743,325</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: bold 10pt Cambria,serif; text-align: center">LIABILITIES AND STOCKHOLDERS&rsquo; EQUITY</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">Current Liabilities:</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-left: 0.25in">Accounts payable</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">712,704</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">668,721</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-left: 0.25in">Accrued expenses</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">1,319,327</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">1,613,409</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-left: 0.25in">Customer deposits</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">988,102</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">1,648,690</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-left: 0.25in">Current maturities of long term debt</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">725,743</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">169,716</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Income taxes payable</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">63,743</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">70,621</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-left: 0.75in">Total current liabilities</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">3,809,619</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">4,171,157</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">Deferred tax liability</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">251,761</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">251,761</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-bottom: 1pt">Long term debt, less current maturities</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">899,573</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">538,000</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-bottom: 1pt; padding-left: 0.75in">Total liabilities</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">4,960,953</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">4,960,918</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">Commitments and Contingencies &ndash; (Note 10)</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&mdash;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&mdash;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif; padding-left: 0.25in">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">Stockholders&rsquo; Equity</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; text-indent: -9pt; padding-left: 27pt">Common stock, $.01 par value; 25,000,000 shares authorized, 15,435,935 and 15,348,180 shares issued and outstanding, respectively</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">154,360</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">153,482</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-left: 0.25in">Additional paid-in capital</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">9,033,531</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">9,018,406</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Accumulated earnings</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">956,210</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">610,519</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-bottom: 1pt; padding-left: 0.75in">Total stockholders&rsquo; equity</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">10,144,101</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">9,782,407</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-bottom: 2.5pt">TOTAL LIABILITIES AND STOCKHOLDERS&rsquo; EQUITY</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">15,105,054</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">14,743,325</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Cambria,serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Cambria,serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Cambria,serif; margin: 0; text-align: center">See notes to unaudited condensed consolidated financial statements.</P>

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


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<P STYLE="font: 10pt Cambria,serif; margin: 0; text-align: center"><B>SONO-TEK CORPORATION</B></P>

<P STYLE="font: 10pt Cambria,serif; margin: 0; text-align: center"><B>CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS</B></P>

<P STYLE="font: 10pt Cambria,serif; margin: 0; text-align: center"><B>(Unaudited)</B></P>

<P STYLE="font: 10pt Cambria,serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 12pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font: bold 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 9pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">Six&nbsp;Months&nbsp;Ended<BR> August 31,</TD><TD STYLE="padding-bottom: 1pt; font: bold 9pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 9pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">Three&nbsp;Months&nbsp;Ended<BR> August 31,</TD><TD STYLE="padding-bottom: 1pt; font: bold 9pt Cambria,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font: bold 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">2020</TD><TD STYLE="padding-bottom: 1pt; font: bold 9pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="padding-bottom: 1pt; font: bold 9pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">2020</TD><TD STYLE="padding-bottom: 1pt; font: bold 9pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="padding-bottom: 1pt; font: bold 9pt Cambria,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="width: 44%; font: 10pt Cambria,serif; text-align: left">Net Sales</TD><TD STYLE="width: 2%; font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Cambria,serif; text-align: right">6,909,185</TD><TD STYLE="width: 1%; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Cambria,serif; text-align: right">6,168,250</TD><TD STYLE="width: 1%; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Cambria,serif; text-align: right">3,480,641</TD><TD STYLE="width: 1%; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Cambria,serif; text-align: right">3,345,822</TD><TD STYLE="width: 1%; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-bottom: 1pt">Cost of Goods Sold</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">3,727,486</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">3,316,323</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">1,859,675</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">1,798,830</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross Profit</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">3,181,699</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">2,851,927</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">1,620,966</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">1,546,992</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">Operating Expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; text-indent: -0.1in; padding-left: 0.2in">Research and product development costs</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">834,940</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">658,870</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">423,516</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">321,697</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; text-indent: -0.1in; padding-left: 0.2in">Marketing and selling expenses</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">1,388,987</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">1,476,696</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">682,270</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">799,284</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.2in">General and administrative costs</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">572,254</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">619,475</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">313,852</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">333,662</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Operating Expenses</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">2,796,181</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">2,755,041</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">1,419,638</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">1,454,643</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">Operating Income</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">385,518</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">96,886</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">201,328</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">92,349</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">Interest Expense</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">(17,704</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">)</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">(17,465</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">)</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">(9,287</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">)</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">(8,518</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">Interest and Dividend Income</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">25,483</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">56,983</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">2,837</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">25,812</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-bottom: 1pt">Other income</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">19,519</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">16,877</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">8,084</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">12,122</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">Income&nbsp;Before Income Taxes</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">412,816</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">153,281</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">202,962</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">121,765</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-bottom: 1pt">Income Tax Expense</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">67,125</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">13,303</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">25,199</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">7,000</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-bottom: 2.5pt">Net Income</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">345,691</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">139,978</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">177,763</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">114,765</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">Basic Earnings&nbsp;Per Share</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">0.02</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">0.01</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">0.01</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">0.01</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">Diluted Earnings&nbsp;Per Share</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">0.02</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">0.01</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">0.01</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">0.01</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">Weighted Average Shares - Basic</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">15,410,952</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">15,285,024</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">15,424,126</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">15,301,613</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">Weighted Average Shares - Diluted</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">15,530,910</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">15,376,906</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">15,533,010</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">15,399,163</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Cambria,serif; margin: 0; text-align: center">See notes to unaudited condensed consolidated financial statements.</P>


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<P STYLE="font: 10pt Cambria,serif; margin: 0; text-align: center"><B>SONO-TEK CORPORATION</B></P>

<P STYLE="font: 10pt Cambria,serif; margin: 0; text-align: center"><B>CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS</B></P>

<P STYLE="font: 10pt Cambria,serif; margin: 0; text-align: center"><B>(Unaudited)</B></P>

<P STYLE="font: 10pt Cambria,serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: center">&nbsp;</TD><TD STYLE="font: bold 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 9pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">Unaudited</TD><TD STYLE="padding-bottom: 1pt; font: bold 9pt Cambria,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD><TD STYLE="font: bold 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 9pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">Six&nbsp;Months&nbsp;Ended<BR> August 31,</TD><TD STYLE="padding-bottom: 1pt; font: bold 9pt Cambria,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD><TD STYLE="font: bold 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">2020</TD><TD STYLE="padding-bottom: 1pt; font: bold 9pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="padding-bottom: 1pt; font: bold 9pt Cambria,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 12pt Times New Roman,serif; text-align: center">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 12pt Times New Roman,serif; text-align: center">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: bold 10pt Cambria,serif; text-align: left">CASH FLOWS FROM OPERATING ACTIVITIES:</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 72%; font: 10pt Cambria,serif; text-align: left; padding-left: 0.15in">Net Income</TD><TD STYLE="width: 2%; font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Cambria,serif; text-align: right">345,691</TD><TD STYLE="width: 1%; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Cambria,serif; text-align: right">139,978</TD><TD STYLE="width: 1%; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-left: 0.15in">Adjustments to reconcile net income&nbsp;to net cash (used in) provided by operating activities:</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-left: 0.5in">Depreciation and amortization</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">214,280</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">191,977</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-left: 0.5in">Stock based compensation expense</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">16,003</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">43,827</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-left: 0.5in">Inventory reserve</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">36,000</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">32,000</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-left: 0.5in">Decrease (Increase) in:</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-left: 49.5pt">Accounts receivable</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">(418,947</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">)</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">125,491</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; padding-left: 49.5pt">Inventories</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">(116,157</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">)</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">(952,898</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-left: 49.5pt">Prepaid expenses and other current assets</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">58,863</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">212,642</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-left: 0.5in">(Decrease) Increase in:</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-left: 49.5pt">Accounts payable and accrued expenses</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">(250,099</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">)</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">352,124</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-left: 49.5pt">Customer Deposits</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">(660,588</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">)</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">434,894</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-bottom: 1pt; padding-left: 49.5pt">Income taxes payable</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">(6,878</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">)</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">8,472</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-bottom: 1pt; padding-left: 0.5in">Net Cash (Used In) Provided by Operating Activities</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">(781,832</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">)</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">588,507</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: bold 10pt Cambria,serif; text-align: left">CASH FLOWS FROM INVESTING ACTIVITIES:</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-left: 0.15in">Purchase of equipment and furnishings</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">(290,347</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">)</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">(319,055</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-left: 0.15in">Capital expenditure grant proceeds</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">100,000</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&mdash;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-bottom: 1pt; padding-left: 0.15in">Sale (purchase) of marketable securities</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">366,639</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">(1,051,898</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-bottom: 1pt; padding-left: 0.5in">Net Cash Provided by (Used in) Investing Activities</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">176,292</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">(1,370,953</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: bold 10pt Cambria,serif; text-align: left">CASH FLOWS FROM FINANCING ACTIVITIES:</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-left: 0.15in">Proceeds from note payable - bank</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">1,001,640</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">&mdash;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-bottom: 1pt; padding-left: 0.15in">Repayment of long term debt</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">(84,040</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">)</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">(80,696</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-bottom: 1pt; padding-left: 0.5in">Net Cash Provided by (Used In) Financing Activities</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">917,600</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">(80,696</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Cambria,serif; text-align: left">NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">312,060</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; text-align: right">(863,142</TD><TD STYLE="font: 10pt Cambria,serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Cambria,serif; text-align: left">CASH AND CASH EQUIVALENTS</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt; padding-left: 0.15in">Beginning of period</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">3,659,551</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Cambria,serif; text-align: right">3,144,123</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt; padding-left: 0.15in">End of period</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">3,971,611</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">2,280,981</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Cambria,serif; text-align: left">SUPPLEMENTAL CASH FLOW DISCLOSURE:</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-bottom: 2.5pt; padding-left: 0.15in">Interest paid</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">13,972</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">17,465</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Cambria,serif; text-align: left; padding-bottom: 2.5pt; padding-left: 0.15in">Income Taxes Paid</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">74,004</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Cambria,serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Cambria,serif; text-align: right">4,831</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Cambria,serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Cambria,serif; margin: 0; text-align: center">See notes to unaudited condensed consolidated financial statements.</P>


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<P STYLE="font: 10pt Cambria,serif; margin: 0; text-align: center"><B>SONO-TEK CORPORATION</B></P>

<P STYLE="font: 10pt Cambria,serif; margin: 0 0 6pt; text-align: center"><B>Product and Market Sales</B></P>

<P STYLE="font: 10pt Cambria,serif; margin: 0 0 6pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Cambria,serif; margin: 0 0 6pt"><B>Product Sales</B></P>

<P STYLE="font: 10pt Cambria,serif; margin: 0 0 6pt"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 8pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 8pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 8pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">Three Months Ended <BR> August 31,</TD><TD STYLE="padding-bottom: 1pt; font: bold 8pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 8pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 8pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">Change</TD><TD STYLE="padding-bottom: 1pt; font: bold 8pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 8pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 8pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">Six Months Ended <BR> August 31,</TD><TD STYLE="padding-bottom: 1pt; font: bold 8pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 8pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 8pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">Change</TD><TD STYLE="padding-bottom: 1pt; font: bold 8pt Cambria,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 8pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 8pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">2020</TD><TD STYLE="padding-bottom: 1pt; font: bold 8pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 8pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="padding-bottom: 1pt; font: bold 8pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 8pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">$</TD><TD STYLE="padding-bottom: 1pt; font: bold 8pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 8pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">%</TD><TD STYLE="padding-bottom: 1pt; font: bold 8pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 8pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">2020</TD><TD STYLE="padding-bottom: 1pt; font: bold 8pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 8pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="padding-bottom: 1pt; font: bold 8pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 8pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">$</TD><TD STYLE="padding-bottom: 1pt; font: bold 8pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 8pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">%</TD><TD STYLE="padding-bottom: 1pt; font: bold 8pt Cambria,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="width: 20%; font: 9pt Cambria,serif; text-align: left">Fluxing Systems</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">$</TD><TD STYLE="width: 7%; font: 9pt Cambria,serif; text-align: right">94,000</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">$</TD><TD STYLE="width: 7%; font: 9pt Cambria,serif; text-align: right">211,000</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font: 9pt Cambria,serif; text-align: right">(117,000</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">)</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font: 9pt Cambria,serif; text-align: right">(55%</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">)</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">$</TD><TD STYLE="width: 7%; font: 9pt Cambria,serif; text-align: right">438,000</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">$</TD><TD STYLE="width: 7%; font: 9pt Cambria,serif; text-align: right">602,000</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font: 9pt Cambria,serif; text-align: right">(164,000</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">)</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font: 9pt Cambria,serif; text-align: right">(27%</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">Integrated Coating Systems</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">673,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">413,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">260,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">63%</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">1,849,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">810,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">1,039,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">128%</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">Multi-Axis Coating Systems</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">1,985,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">1,815,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">170,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">9%</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">2,898,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">2,888,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">10,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">&mdash;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">OEM Systems</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">232,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">246,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">(14,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">)</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">(6%</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">)</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">654,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">565,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">89,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">16%</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">Other</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">497,000</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">661,000</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">(164,000</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">)</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">(25%</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">)</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">1,070,000</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">1,303,000</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">(233,000</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">)</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">(18%</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">TOTAL</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">3,481,000</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">3,346,000</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">135,000</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">4%</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">6,909,000</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">6,168,000</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">741,000</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">12%</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Cambria,serif; margin: 0 0 6pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Cambria,serif; margin: 0 0 6pt"><B>Market Sales</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 8pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 8pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 8pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">Three Months Ended <BR> August 31,</TD><TD STYLE="padding-bottom: 1pt; font: bold 8pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 8pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 8pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">Change</TD><TD STYLE="padding-bottom: 1pt; font: bold 8pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 8pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 8pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">Six Months Ended <BR> August 31,</TD><TD STYLE="padding-bottom: 1pt; font: bold 8pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 8pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 8pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">Change</TD><TD STYLE="padding-bottom: 1pt; font: bold 8pt Cambria,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 8pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 8pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">2020</TD><TD STYLE="padding-bottom: 1pt; font: bold 8pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 8pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="padding-bottom: 1pt; font: bold 8pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 8pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">$</TD><TD STYLE="padding-bottom: 1pt; font: bold 8pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 8pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">%</TD><TD STYLE="padding-bottom: 1pt; font: bold 8pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 8pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">2020</TD><TD STYLE="padding-bottom: 1pt; font: bold 8pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 8pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="padding-bottom: 1pt; font: bold 8pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 8pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">$</TD><TD STYLE="padding-bottom: 1pt; font: bold 8pt Cambria,serif">&nbsp;</TD><TD STYLE="font: bold 8pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Cambria,serif; text-align: center; border-bottom: Black 1pt solid">%</TD><TD STYLE="padding-bottom: 1pt; font: bold 8pt Cambria,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="width: 20%; font: 9pt Cambria,serif">Electronics/Microelectronics</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">$</TD><TD STYLE="width: 7%; font: 9pt Cambria,serif; text-align: right">811,000</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">$</TD><TD STYLE="width: 7%; font: 9pt Cambria,serif; text-align: right">1,376,000</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font: 9pt Cambria,serif; text-align: right">(565,000</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">)</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font: 9pt Cambria,serif; text-align: right">(41%</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">)</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">$</TD><TD STYLE="width: 7%; font: 9pt Cambria,serif; text-align: right">3,051,000</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">$</TD><TD STYLE="width: 7%; font: 9pt Cambria,serif; text-align: right">2,913,000</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font: 9pt Cambria,serif; text-align: right">138,000</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font: 9pt Cambria,serif; text-align: right">5%</TD><TD STYLE="width: 1%; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 9pt Cambria,serif">Medical</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">961,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">1,250,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">(289,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">)</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">(23%</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">)</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">1,653,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">1,792,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">(139,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">)</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">(8%</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">Alternative Energy</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">826,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">223,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">603,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">270%</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">1,221,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">610,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">611,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">100%</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">Emerging R&amp;D and Other</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">479,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">400,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">79,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">20%</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">516,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">685,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">(169,000</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">)</TD><TD STYLE="font: 9pt Cambria,serif">&nbsp;</TD>
    <TD STYLE="font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; text-align: right">(25%</TD><TD STYLE="font: 9pt Cambria,serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(230,239,255)">
    <TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">Industrial</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">404,000</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">97,000</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">307,000</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">316%</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">468,000</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">168,000</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">300,000</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">179%</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">TOTAL</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">3,481,000</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">3,346,000</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">135,000</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">4%</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">6,909,000</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">6,168,000</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">741,000</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="font: 9pt Cambria,serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Cambria,serif; text-align: right">12%</TD><TD STYLE="padding-bottom: 1pt; font: 9pt Cambria,serif; text-align: left">&nbsp;</TD></TR>
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