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<SEC-DOCUMENT>0000943440-08-000279.txt : 20080721
<SEC-HEADER>0000943440-08-000279.hdr.sgml : 20080721
<ACCEPTANCE-DATETIME>20080721110909
ACCESSION NUMBER:		0000943440-08-000279
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20080721
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20080721
DATE AS OF CHANGE:		20080721

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PETMED EXPRESS INC
		CENTRAL INDEX KEY:			0001040130
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-DRUG STORES AND PROPRIETARY STORES [5912]
		IRS NUMBER:				650680967
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			0330

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-28827
		FILM NUMBER:		08960632

	BUSINESS ADDRESS:	
		STREET 1:		1441 SW 29 AVENUE
		CITY:			POMPANO BEACH
		STATE:			FL
		ZIP:			33069
		BUSINESS PHONE:		9549794788

	MAIL ADDRESS:	
		STREET 1:		1441 SW 29 AVENUE
		CITY:			POMPANO BEACH
		STATE:			FL
		ZIP:			33069
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k.htm
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>IMPAX LABORATORIES INC (Form: 8-K, Received: 01/08/2007 14:15:22)</TITLE>
<META NAME="author" CONTENT="EDGAR Online HTML to RTF Converter. Version 3.0">
<META NAME="date" CONTENT="07/21/2008">
</HEAD>
<BODY style="line-height:12pt; font-family:Times New Roman; font-size:10pt; color:#000000">
<P style="margin-top:12.533px; margin-bottom:0px; font-family:Arial" align=center><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B></P>
<P style="margin-top:12.533px; margin-bottom:0px; font-family:Arial" align=center><B>FORM 8-K</B></P>
<P style="margin-top:12.533px; margin-bottom:0px; font-family:Arial" align=center><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B></P>
<P style="margin-top:12.533px; margin-bottom:0px; font-family:Arial" align=center>Date of report (Date of earliest event reported): July 21, 2008</P>
<P style="line-height:11.25pt; margin:0px"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR style="font-size:0"><TD width=24.267></TD><TD width=129.333></TD><TD width=153.6></TD><TD width=153.6></TD><TD width=153.6></TD><TD width=153.6></TD></TR>
<TR><TD valign=top width=24.267><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=743.733 colspan=5><P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center><B><U>PetMed Express, Inc.<BR>
</U></B> (Exact name of registrant as specified in its charter)</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=top width=153.6 colspan=2><P>&nbsp;</P></TD><TD style="background-color:#FFFFFF" valign=top width=153.6><P>&nbsp;</P></TD><TD style="background-color:#FFFFFF" valign=top width=153.6><P>&nbsp;</P></TD><TD style="background-color:#FFFFFF" valign=top width=153.6><P>&nbsp;</P></TD><TD style="background-color:#FFFFFF" valign=top width=153.6><P>&nbsp;</P></TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=top width=153.6 colspan=2><P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center><B><U>Florida</U></B></P>
</TD><TD style="background-color:#FFFFFF" valign=top width=153.6><P>&nbsp;</P></TD><TD style="background-color:#FFFFFF" valign=top width=153.6><P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center><B><U>000-28827</U></B></P>
</TD><TD style="background-color:#FFFFFF" valign=top width=153.6><P>&nbsp;</P></TD><TD style="background-color:#FFFFFF" valign=top width=153.6><P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center><B><U>65-0680967</U></B></P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=top width=153.6 colspan=2><P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center>(State or other jurisdiction<BR>
of incorporation)</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=153.6><P>&nbsp;</P></TD><TD style="background-color:#FFFFFF" valign=top width=153.6><P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center>(Commission<BR>
File Number)</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=153.6><P>&nbsp;</P></TD><TD style="background-color:#FFFFFF" valign=top width=153.6><P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center>(I.R.S. Employer<BR>
Identification No.)</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center><B><U>1441 S.W. 29<SUP>th</SUP> Avenue, Pompano Beach, FL &nbsp;33069</U></B></P>
<P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center>(Address of principal executive offices) (Zip Code)</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center><B><U>(954) 979-5995</U></B></P>
<P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center>(Registrant&#146;s telephone number, including area code)</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center><B><U>Not Applicable</U></B></P>
<P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center>(Former name or former address, if changed since last report)</P>
<P style="margin:0px" align=center><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR style="font-size:0"><TD width=768></TD></TR>
<TR><TD valign=top width=768><P style="margin-top:12.533px; margin-bottom:0px; font-family:Arial">Check the appropriate box below if the Form 8 K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):</P>
</TD></TR>
</TABLE>
<P style="line-height:11.25pt; margin:0px"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR style="font-size:0"><TD width=24.267></TD><TD width=743.733></TD></TR>
<TR><TD valign=top width=24.267><P style="margin:0px; font-family:Arial">[ &nbsp;]</P>
</TD><TD valign=top width=743.733><P style="margin:0px; padding-right:1.067px; font-family:Arial">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>
</TD></TR>
<TR><TD valign=top width=24.267><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=743.733><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=24.267><P style="margin:0px; font-family:Arial">[ &nbsp;]</P>
</TD><TD valign=top width=743.733><P style="margin:0px; padding-right:1.067px; font-family:Arial">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>
</TD></TR>
<TR><TD valign=top width=24.267><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=743.733><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=24.267><P style="margin:0px; font-family:Arial">[ &nbsp;]</P>
</TD><TD valign=top width=743.733><P style="margin:0px; padding-right:1.067px; font-family:Arial">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>
</TD></TR>
<TR><TD valign=top width=24.267><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=743.733><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=24.267><P style="margin:0px; font-family:Arial">[ &nbsp;]</P>
</TD><TD valign=top width=743.733><P style="margin:0px; padding-right:1.067px; font-family:Arial">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>
</TD><A NAME="eolPage2"></A></TR>
</TABLE>
<P style="margin-top:12.533px; margin-bottom:0px"><BR>
<BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin-top:12.533px; margin-bottom:0px; font-family:Arial; page-break-before:always"><B>Item 8.01&nbsp;&nbsp;&nbsp;Other Events.</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; text-indent:24px; font-family:Arial" align=justify>On July 21, 2008, PetMed Express, Inc. issued a press release announcing its June 30, 2008 quarter end financial results. &nbsp;A copy of this press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.</P>
<P style="margin-top:12.533px; margin-bottom:0px; font-family:Arial"><B>Item 9.01&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits.</B></P>
<P style="line-height:11.25pt; margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; padding-right:1.067px; text-indent:77.733px; font-family:Arial">(d)</P>
<P style="margin:0px; padding-right:1.067px; text-indent:101.933px; font-family:Arial">Exhibits.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-right:1.067px; text-indent:101.933px; font-family:Arial">99.1 &#150; Press release dated July 21, 2008.</P>
<A NAME="FIS_EXHIBIT_INDEX"></A><P style="margin-top:12.533px; margin-bottom:0px; font-family:Arial" align=center><B>EXHIBIT INDEX</B></P>
<P style="line-height:11.25pt; margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; padding-right:1.067px; font-family:Arial"><U>Exhibit No.</U></P>
<P style="margin:0px; padding-right:1.067px; text-indent:97.933px; font-family:Arial"><U>Description</U></P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; padding-right:1.067px; font-family:Arial">99.1</P>
<P style="margin:0px; padding-right:1.067px; text-indent:97.933px; font-family:Arial">Press release dated July 21, 2008</P>
<A NAME="FIS_SIGNATURES"></A><P style="margin-top:12.533px; margin-bottom:0px; font-family:Arial" align=center><B>SIGNATURES</B></P>
<P style="margin-top:12.533px; margin-bottom:0px; text-indent:48px; font-family:Arial">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="margin-top:12.533px; margin-bottom:0px; font-family:Arial">Dated: July 21, 2008</P>
<P style="line-height:11.25pt; margin:0px"><BR></P>
<DIV align=right><TABLE style="font-size:10pt" cellspacing=0><TR style="font-size:0"><TD width=402></TD><TD width=48></TD><TD width=318></TD></TR>
<TR><TD valign=top width=402><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=366 colspan=2><P style="margin:0px; padding-right:2.4px; font-family:Arial">PETMED EXPRESS, INC.</P>
</TD></TR>
<TR><TD valign=top width=402><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=48><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=318><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=402><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=48><P style="margin:0px; padding-right:1.067px; font-family:Arial">By:</P>
</TD><TD valign=top width=318><P style="margin:0px; padding-right:1.067px; font-family:Arial"><U>/s/ Bruce S. Rosenbloom</U></P>
</TD></TR>
<TR><TD valign=top width=402><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=48><P style="margin:0px; padding-right:1.067px; font-family:Arial">Name:</P>
</TD><TD valign=top width=318><P style="margin:0px; padding-right:1.067px; font-family:Arial">Bruce S. Rosenbloom</P>
</TD></TR>
<TR><TD valign=top width=402><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=48><P style="margin:0px; padding-right:1.067px; font-family:Arial">Title:</P>
</TD><TD valign=top width=318><P style="margin:0px; padding-right:1.067px; font-family:Arial">Chief Financial Officer</P>
</TD></TR>
</TABLE></DIV>
<P style="line-height:11.25pt; margin:0px"><BR></P>
<P style="line-height:11.25pt; margin:0px"><BR>
<BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=center>2</P>
<P style="margin:0px"><BR></P>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit991.htm
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>Exhibit 99</TITLE>
<META NAME="author" CONTENT="Karen Fornash">
<META NAME="date" CONTENT="07/21/2008">
</HEAD>
<BODY style="line-height:12pt; font-family:Times New Roman; font-size:10pt; color:#000000">
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-right:1.067px; font-family:Arial" align=right>Exhibit 99.1</P>
<P style="margin-top:0px; margin-bottom:7.333px" align=center><BR></P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:7.333px; font-family:Arial; font-size:11pt" align=center><B>PETMED EXPRESS D/B/A 1-800-PETMEDS ANNOUNCES FIRST QUARTER FINANCIAL RESULTS</B></P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:7.333px; font-family:Arial; font-size:11pt" align=center><B>Net Sales Increase 16% to $68.4 Million</B></P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:7.333px; font-family:Arial; font-size:11pt" align=center><B>New Order Sales Increase 17%</B></P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:7.333px; font-family:Arial; font-size:11pt" align=center><B>Earnings Increase to $0.28 per share</B></P>
<P style="margin:0px; padding-right:6px; font-family:Arial" align=justify>Pompano Beach, Florida, July 21, 2008 - PetMed Express, Inc. (NASDAQ: PETS) today announced its financial results for the quarter ended June 30, 2008. &nbsp;Net income was $6.6 million, or $0.28 diluted per share, for the quarter ended June 30, 2008, compared to net income of $6.2 million, or $0.25 diluted per share, for the quarter ended June 30, 2007, a 10% increase to EPS. &nbsp;Net sales for the quarter ended June 30, 2008 were $68.4 million, compared to $59.0 million for the quarter ended June 30, 2007, an increase of 16%. &nbsp;New order sales increased by 17%, from $19.0 million to $22.1 million for the quarters ended June 30, 2007 and 2008, respectively. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-right:6px; font-family:Arial" align=justify>Menderes Akdag, CEO and President, commented: &#147;We are pleased to report a 17% increase in new order sales and that we acquired approximately 267,000 new customers in our first fiscal quarter compared to 236,000 for the same quarter in the prior year. &nbsp;We are also pleased to report that our reorder sales increased by 16%, to $46.2 million for the quarter ended June 30, 2008, compared to $40.0 million for the same quarter in the prior year. &nbsp;Our continuing focus will be on capturing additional market share, and improving reorders and our customer service levels in fiscal 2009. &nbsp;Additionally, the Company repurchased approximately 93,000 shares of its outstanding common stock for approximately $1,087,000 during the first quarter of fiscal 2009.&#148;</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-right:6px; font-family:Arial" align=justify>This morning at 8:30 A.M. Eastern Time, Mr. Akdag will host a conference call to review the quarter&#146;s financial results. &nbsp;To access the call, which is open to the public, please dial (888) 455-1758 (toll free) or (210) 234-0009. &nbsp;Callers will be required to supply PETMEDS as the passcode. &nbsp;For those unable to participate in the live event, the call will be available for replay from 10:00 A.M. on July 21, 2008 until August 4, 2008 at 11:59 P.M. &nbsp;To access the replay, call (866) 491-2943 (toll free) or (203) 369-1729, and enter passcode 5500.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-right:6px; font-family:Arial" align=justify>Founded in 1996, PetMed Express is America&#146;s Largest Pet Pharmacy, delivering prescription and non-prescription pet medications and other health products for dogs, cats, and horses at competitive prices direct to the consumer through its 1-800-PetMeds toll free number and on the Internet through its website at <FONT COLOR=#0000FF><U>www.1800petmeds.com</U></FONT>.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-right:6px; font-family:Arial" align=justify>This press release may contain &#147;forward-looking&#148; statements, as defined in the Private Securities Litigation Reform Act of 1995 or by the Securities and Exchange Commission, that involve a number of risks and uncertainties, including the Company&#146;s ability to meet the objectives included in its business plan. &nbsp;Important factors that could cause results to differ materially from those indicated by such &#147;forward-looking&#148; statements are set forth in Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations in the PetMed Express Annual Report on Form 10-K for the year ended March 31, 2008. &nbsp;The Company&#146;s future results may also be impacted by other risk factors listed from time to time in its SEC filings, including, but not limited to, the Company's Form 10-Q and its Annual Report on Form 10-K.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-right:6px; font-family:Arial" align=justify>For investment relations contact PetMed Express, Inc., Bruce S. Rosenbloom, CFO, 954-979-5995.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-right:6px; font-family:Arial" align=center>###</P>
<P style="margin:0px" align=center><BR>
<BR></P>
<P style="margin:0px; padding-right:6px; font-family:Arial" align=center>Exhibit 99.1 &nbsp;&nbsp;Page 1 of 4</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=center><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR style="font-size:0"><TD width=408></TD><TD width=11></TD><TD width=94.6></TD><TD width=11.133></TD><TD width=86.133></TD></TR>
<TR><TD valign=bottom width=610.867 colspan=5><P style="margin:0px; font-family:Arial" align=center><B>PETMED EXPRESS, INC. AND SUBSIDIARIES</B></P>
</TD></TR>
<TR><TD valign=bottom width=610.867 colspan=5><P style="margin:0px; font-family:Arial" align=center><B>CONDENSED CONSOLIDATED BALANCE SHEETS</B></P>
</TD></TR>
<TR><TD valign=bottom width=408><P>&nbsp;</P></TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P>&nbsp;</P></TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=408><P>&nbsp;</P></TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P style="margin:0px; font-family:Arial" align=center><B>June 30,</B></P>
</TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P style="margin:0px; font-family:Arial" align=center><B>March 31,</B></P>
</TD></TR>
<TR><TD valign=bottom width=408><P>&nbsp;</P></TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=94.6><P style="margin:0px; font-family:Arial" align=center><B>2008</B></P>
</TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=86.133><P style="margin:0px; font-family:Arial" align=center><B>2008</B></P>
</TD></TR>
<TR><TD valign=bottom width=408><P>&nbsp;</P></TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P style="margin:0px; font-family:Arial" align=center><B>(UNAUDITED)</B></P>
</TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial" align=center><B><U>ASSETS</U></B></P>
</TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P>&nbsp;</P></TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=408><P>&nbsp;</P></TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P>&nbsp;</P></TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial">Current assets:</P>
</TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P>&nbsp;</P></TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Cash and cash equivalents</P>
</TD><TD valign=bottom width=11><P style="margin:0px; font-family:Arial" align=center>$</P>
</TD><TD valign=bottom width=94.6><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;38,592,784&nbsp;</P>
</TD><TD valign=bottom width=11.133><P style="margin:0px; font-family:Arial" align=right>$&nbsp;</P>
</TD><TD valign=bottom width=86.133><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;20,267,829&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Temporary investments</P>
</TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;2,025,000&nbsp;</P>
</TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;4,780,000&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Accounts receivable, less allowance for doubtful</P>
</TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P>&nbsp;</P></TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;accounts of $61,930 and $32,040, respectively</P>
</TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;3,045,816&nbsp;</P>
</TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;1,575,263&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Inventories - finished goods</P>
</TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;24,753,310&nbsp;</P>
</TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;17,909,549&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets</P>
</TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=94.6><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;987,665&nbsp;</P>
</TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=86.133><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;691,859&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets</P>
</TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;69,404,575&nbsp;</P>
</TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;45,224,500&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=408><P>&nbsp;</P></TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P>&nbsp;</P></TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Long term investments</P>
</TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;14,875,000&nbsp;</P>
</TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;24,740,000&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Property and equipment, net</P>
</TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;1,960,433&nbsp;</P>
</TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;1,903,294&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Deferred income taxes</P>
</TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;1,269,027&nbsp;</P>
</TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;1,221,853&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Intangible asset</P>
</TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=94.6><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365,000&nbsp;</P>
</TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=86.133><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365,000&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=408><P>&nbsp;</P></TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P>&nbsp;</P></TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial">Total assets</P>
</TD><TD valign=bottom width=11><P style="margin:0px; font-family:Arial" align=center>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=94.6><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;87,874,035&nbsp;</P>
</TD><TD valign=bottom width=11.133><P style="margin:0px; font-family:Arial" align=right>$&nbsp;</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=86.133><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;73,454,647&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=408><P>&nbsp;</P></TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P>&nbsp;</P></TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial" align=center><B><U>LIABILITIES AND SHAREHOLDERS' EQUITY</U></B></P>
</TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P>&nbsp;</P></TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=408><P>&nbsp;</P></TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P>&nbsp;</P></TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial">Current liabilities:</P>
</TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P>&nbsp;</P></TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Accounts payable</P>
</TD><TD valign=bottom width=11><P style="margin:0px; font-family:Arial" align=center>$</P>
</TD><TD valign=bottom width=94.6><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;8,786,065&nbsp;</P>
</TD><TD valign=bottom width=11.133><P style="margin:0px; font-family:Arial" align=right>$&nbsp;</P>
</TD><TD valign=bottom width=86.133><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;4,358,774&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Income taxes payable</P>
</TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;3,585,635&nbsp;</P>
</TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185,243&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Accrued expenses and other current liabilities</P>
</TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=94.6><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;2,250,042&nbsp;</P>
</TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=86.133><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;1,876,655&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=408><P>&nbsp;</P></TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P>&nbsp;</P></TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial">Total liabilities</P>
</TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=94.6><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;14,621,742&nbsp;</P>
</TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=86.133><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;6,420,672&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=408><P>&nbsp;</P></TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P>&nbsp;</P></TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial">Commitments and contingencies</P>
</TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P>&nbsp;</P></TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=408><P>&nbsp;</P></TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P>&nbsp;</P></TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial">Shareholders' equity:</P>
</TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P>&nbsp;</P></TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Preferred stock, $.001 par value, 5,000,000 shares authorized;</P>
</TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P>&nbsp;</P></TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,500 convertible shares issued and outstanding with a</P>
</TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P>&nbsp;</P></TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;liquidation preference of $4 per share</P>
</TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8,898&nbsp;</P>
</TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8,898&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Common stock, $.001 par value, 40,000,000 shares authorized;</P>
</TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P>&nbsp;</P></TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23,724,240 and 23,734,067 shares issued, respectively</P>
</TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23,724&nbsp;</P>
</TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23,734&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Additional paid-in capital</P>
</TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;8,517,554&nbsp;</P>
</TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;8,396,277&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Retained earnings</P>
</TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;65,260,552&nbsp;</P>
</TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;58,639,343&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=419 colspan=2><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Less treasury stock, at cost; 44,815 and 3,100 shares, respectively</P>
</TD><TD style="border-bottom:1px solid #000000" valign=bottom width=94.6><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(558,435)</P>
</TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=86.133><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34,277)</P>
</TD></TR>
<TR><TD valign=bottom width=408><P>&nbsp;</P></TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P>&nbsp;</P></TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total shareholders' equity</P>
</TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=94.6><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;73,252,293&nbsp;</P>
</TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=86.133><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;67,033,975&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=408><P>&nbsp;</P></TD><TD valign=bottom width=11><P>&nbsp;</P></TD><TD valign=bottom width=94.6><P>&nbsp;</P></TD><TD valign=bottom width=11.133><P>&nbsp;</P></TD><TD valign=bottom width=86.133><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=408><P style="margin:0px; font-family:Arial">Total liabilities and shareholders' equity</P>
</TD><TD valign=bottom width=11><P style="margin:0px; font-family:Arial" align=center>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=94.6><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;87,874,035&nbsp;</P>
</TD><TD valign=bottom width=11.133><P style="margin:0px; font-family:Arial" align=right>$&nbsp;</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=86.133><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;73,454,647&nbsp;</P>
</TD></TR>
</TABLE>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR>
<BR></P>
<P style="margin:0px; padding-right:6px; font-family:Arial" align=center>Exhibit 99.1 &nbsp;&nbsp;Page 2 of 4</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=center><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR style="font-size:0"><TD width=401.067></TD><TD width=15.933></TD><TD width=87.533></TD><TD width=15.933></TD><TD width=87.533></TD></TR>
<TR><TD valign=bottom width=608 colspan=5><P style="margin:0px; font-family:Arial" align=center><B>PETMED EXPRESS, INC. AND SUBSIDIARIES </B></P>
</TD></TR>
<TR><TD valign=bottom width=608 colspan=5><P style="margin:0px; font-family:Arial" align=center><B>&nbsp;CONDENSED CONSOLIDATED STATEMENTS OF INCOME </B></P>
</TD></TR>
<TR><TD valign=bottom width=608 colspan=5><P style="margin:0px; font-family:Arial" align=center><B>&nbsp;(UNAUDITED) </B></P>
</TD></TR>
<TR><TD valign=bottom width=401.067><P>&nbsp;</P></TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=401.067><P>&nbsp;</P></TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=191 colspan=3><P style="margin:0px; font-family:Arial" align=center><B>&nbsp;Three Months Ended </B></P>
</TD></TR>
<TR><TD valign=bottom width=401.067><P>&nbsp;</P></TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=191 colspan=3><P style="margin:0px; font-family:Arial" align=center><B>&nbsp;June 30, </B></P>
</TD></TR>
<TR><TD valign=bottom width=401.067><P>&nbsp;</P></TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=center><B>2008</B></P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=center><B>&nbsp;2007 </B></P>
</TD></TR>
<TR><TD valign=bottom width=401.067><P>&nbsp;</P></TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=401.067><P style="margin:0px; font-family:Arial">&nbsp;Sales </P>
</TD><TD valign=bottom width=15.933><P style="margin:0px; font-family:Arial" align=center>&nbsp;$ </P>
</TD><TD valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;68,366,683&nbsp;</P>
</TD><TD valign=bottom width=15.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;$&nbsp;</P>
</TD><TD valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;59,027,235&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=401.067><P style="margin:0px; font-family:Arial">&nbsp;Cost of sales </P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;42,576,381&nbsp;</P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;36,331,851&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=401.067><P>&nbsp;</P></TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=401.067><P style="margin:0px; font-family:Arial">&nbsp;Gross profit </P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;25,790,302&nbsp;</P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;22,695,384&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=401.067><P>&nbsp;</P></TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=401.067><P style="margin:0px; font-family:Arial">&nbsp;Operating expenses: </P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=401.067><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and administrative </P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;5,812,214&nbsp;</P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;5,615,466&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=401.067><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advertising </P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;10,060,123&nbsp;</P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;8,482,781&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=401.067><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization </P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155,552&nbsp;</P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127,934&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=401.067><P style="margin:0px; font-family:Arial">&nbsp;Total operating expenses </P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;16,027,889&nbsp;</P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;14,226,181&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=401.067><P>&nbsp;</P></TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=401.067><P style="margin:0px; font-family:Arial">&nbsp;Income from operations </P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;9,762,413&nbsp;</P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;8,469,203&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=401.067><P>&nbsp;</P></TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=401.067><P style="margin:0px; font-family:Arial">&nbsp;Other income (expense): </P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=401.067><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest income, net </P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309,315&nbsp;</P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392,202&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=401.067><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other, net </P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160,383&nbsp;</P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231,656&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=401.067><P style="margin:0px; font-family:Arial">&nbsp;Total other income (expense) </P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469,698&nbsp;</P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;623,858&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=401.067><P>&nbsp;</P></TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=401.067><P style="margin:0px; font-family:Arial">&nbsp;Income before provision for income taxes </P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;10,232,111&nbsp;</P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;9,093,061&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=401.067><P>&nbsp;</P></TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=401.067><P style="margin:0px; font-family:Arial">&nbsp;Provision for income taxes </P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;3,610,902&nbsp;</P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;2,909,977&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=401.067><P>&nbsp;</P></TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=401.067><P style="margin:0px; font-family:Arial">&nbsp;Net income </P>
</TD><TD valign=bottom width=15.933><P style="margin:0px; font-family:Arial" align=center>&nbsp;$ </P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;6,621,209&nbsp;</P>
</TD><TD valign=bottom width=15.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;$&nbsp;</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;6,183,084&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=401.067><P>&nbsp;</P></TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=401.067><P style="margin:0px; font-family:Arial">&nbsp;Net income per common share: </P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=401.067><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic </P>
</TD><TD valign=bottom width=15.933><P style="margin:0px; font-family:Arial" align=center>&nbsp;$ </P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.28&nbsp;</P>
</TD><TD valign=bottom width=15.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;$&nbsp;</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.26&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=401.067><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted </P>
</TD><TD valign=bottom width=15.933><P style="margin:0px; font-family:Arial" align=center>&nbsp;$ </P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.28&nbsp;</P>
</TD><TD valign=bottom width=15.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;$&nbsp;</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.25&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=401.067><P>&nbsp;</P></TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=401.067><P style="margin:0px; font-family:Arial">&nbsp;Weighted average number of common shares outstanding: </P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD valign=bottom width=87.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=401.067><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic </P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;23,523,297&nbsp;</P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;24,149,321&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=401.067><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted </P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;23,671,933&nbsp;</P>
</TD><TD valign=bottom width=15.933><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=87.533><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;24,336,100&nbsp;</P>
</TD></TR>
</TABLE>
<P style="margin:0px" align=center><BR>
<BR></P>
<P style="margin:0px; padding-right:6px; font-family:Arial" align=center>Exhibit 99.1 &nbsp;&nbsp;Page 3 of 4</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=center><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR style="font-size:0"><TD width=381.333></TD><TD width=16.733></TD><TD width=97.933></TD><TD width=16.733></TD><TD width=97.933></TD></TR>
<TR><TD valign=bottom width=610.667 colspan=5><P style="margin:0px; font-family:Arial" align=center><B>PETMED EXPRESS, INC. AND SUBSIDIARIES</B></P>
</TD></TR>
<TR><TD valign=bottom width=610.667 colspan=5><P style="margin:0px; font-family:Arial" align=center><B>CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS</B></P>
</TD></TR>
<TR><TD valign=bottom width=610.667 colspan=5><P style="margin:0px; font-family:Arial" align=center><B>(UNAUDITED)</B></P>
</TD></TR>
<TR><TD valign=bottom width=381.333><P>&nbsp;</P></TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=381.333><P>&nbsp;</P></TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=212.6 colspan=3><P style="margin:0px; font-family:Arial" align=center><B>&nbsp;Three Months Ended </B></P>
</TD></TR>
<TR><TD valign=bottom width=381.333><P>&nbsp;</P></TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=212.6 colspan=3><P style="margin:0px; font-family:Arial" align=center><B>&nbsp;June 30, </B></P>
</TD></TR>
<TR><TD valign=bottom width=381.333><P>&nbsp;</P></TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=center><B>2008</B></P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=center><B>2007</B></P>
</TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;Cash flows from operating activities: </P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Net income </P>
</TD><TD valign=bottom width=16.733><P style="margin:0px; font-family:Arial">&nbsp;$ </P>
</TD><TD valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;6,621,209&nbsp;</P>
</TD><TD valign=bottom width=16.733><P style="margin:0px; font-family:Arial" align=right>&nbsp;$&nbsp;</P>
</TD><TD valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;6,183,084&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile net income to net cash </P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;provided by operating activities: </P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization </P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155,552&nbsp;</P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127,934&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Share based compensation </P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304,041&nbsp;</P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359,469&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes </P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47,174)</P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(242,327)</P>
</TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bad debt expense </P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43,986&nbsp;</P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24,820&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Increase) decrease in operating assets </P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;and increase (decrease) in liabilities: </P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable </P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;(1,514,539)</P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(762,207)</P>
</TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories - finished goods </P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;(6,843,761)</P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411,356&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets </P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(295,807)</P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(140,383)</P>
</TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable </P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;4,427,291&nbsp;</P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(134,859)</P>
</TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income taxes payable </P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;3,400,392&nbsp;</P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;2,640,941&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other current liabilities </P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373,387&nbsp;</P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;1,035,442&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;Net cash provided by operating activities </P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;6,624,577&nbsp;</P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;9,503,270&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=381.333><P>&nbsp;</P></TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;Cash flows from investing activities: </P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Net change in investments </P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;12,620,000&nbsp;</P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;(6,300,000)</P>
</TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Purchases of property and equipment </P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(212,690)</P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(255,958)</P>
</TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;Net cash provided by (used in) investing activities </P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;12,407,310&nbsp;</P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;(6,555,958)</P>
</TD></TR>
<TR><TD valign=bottom width=381.333><P>&nbsp;</P></TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;Cash flows from financing activities: </P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Purchases of treasury stock </P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;(1,086,816)</P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;(1,512,254)</P>
</TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from the exercise of stock options </P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348,200&nbsp;</P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240,444&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Tax benefit related to stock options exercised </P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31,684&nbsp;</P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8,365&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;Net cash used in financing activities </P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(706,932)</P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;(1,263,445)</P>
</TD></TR>
<TR><TD valign=bottom width=381.333><P>&nbsp;</P></TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;Net increase in cash and cash equivalents </P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;18,324,955&nbsp;</P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;1,683,867&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;Cash and cash equivalents, at beginning of period </P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;20,267,829&nbsp;</P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316,470&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=381.333><P>&nbsp;</P></TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;Cash and cash equivalents, at end of period </P>
</TD><TD valign=bottom width=16.733><P style="margin:0px; font-family:Arial">&nbsp;$ </P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;38,592,784&nbsp;</P>
</TD><TD valign=bottom width=16.733><P style="margin:0px; font-family:Arial" align=right>&nbsp;$&nbsp;</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;2,000,337&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=381.333><P>&nbsp;</P></TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;Supplemental disclosure of cash flow information: </P>
</TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=381.333><P>&nbsp;</P></TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Cash paid for income taxes </P>
</TD><TD valign=bottom width=16.733><P style="margin:0px; font-family:Arial">&nbsp;$ </P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226,000&nbsp;</P>
</TD><TD valign=bottom width=16.733><P style="margin:0px; font-family:Arial" align=right>&nbsp;$&nbsp;</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503,000&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=381.333><P>&nbsp;</P></TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD><TD valign=bottom width=16.733><P>&nbsp;</P></TD><TD valign=bottom width=97.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=381.333><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Retirement of treasury stock </P>
</TD><TD valign=bottom width=16.733><P style="margin:0px; font-family:Arial">&nbsp;$ </P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;562,658&nbsp;</P>
</TD><TD valign=bottom width=16.733><P style="margin:0px; font-family:Arial" align=right>&nbsp;$&nbsp;</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=97.933><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257,630&nbsp;</P>
</TD></TR>
</TABLE>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR>
<BR></P>
<P style="margin:0px; padding-right:6px; font-family:Arial" align=center>Exhibit 99.1 &nbsp;&nbsp;Page 4 of 4</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
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