<SEC-DOCUMENT>0001144204-17-059833.txt : 20171117
<SEC-HEADER>0001144204-17-059833.hdr.sgml : 20171117
<ACCEPTANCE-DATETIME>20171117061047
ACCESSION NUMBER:		0001144204-17-059833
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20171109
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20171117
DATE AS OF CHANGE:		20171117

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CLEARSIGN COMBUSTION CORP
		CENTRAL INDEX KEY:			0001434524
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL INSTRUMENTS FOR MEASUREMENT, DISPLAY, AND CONTROL [3823]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			WA

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35521
		FILM NUMBER:		171209663

	BUSINESS ADDRESS:	
		STREET 1:		12870 INTERURBAN AVENUE SOUTH
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98168
		BUSINESS PHONE:		(206) 673-4848

	MAIL ADDRESS:	
		STREET 1:		12870 INTERURBAN AVENUE SOUTH
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98168
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tv479832_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%; text-align: center">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>WASHINGTON, D.C.
20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 0pt; margin-bottom: 0pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 125pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Pursuant to Section 13 or 15(d) of the</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Date of report (Date of earliest event
reported): November 9, 2017</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B></B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 0pt; margin-bottom: 0pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 125pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CLEARSIGN COMBUSTION CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Exact name of registrant as specified
in Charter)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; width: 32%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Washington</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 32%; text-align: center"><FONT STYLE="font-size: 10pt"><B>001-35521</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 32%; text-align: center"><FONT STYLE="font-size: 10pt"><B>26-2056298</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(State or other jurisdiction of</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>incorporation or organization)</B></P></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><B>(Commission File No.)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><B>(IRS Employee<BR>
Identification No.)</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>12870 Interurban Avenue South</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Seattle, Washington 98168</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Address of Principal Executive Offices)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>206-673-4848</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Issuer Telephone number)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B></B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR240.14a-12)</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b)).</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 13e-(c)
under the Exchange Act (17 CFR 240.13(e)-4(c))</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 70%; text-align: right"><FONT STYLE="font-size: 10pt">Emerging growth company</FONT></TD>
    <TD STYLE="width: 30%">&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#120;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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.&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

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

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 0pt; margin-bottom: 0pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left"><FONT STYLE="font-size: 10pt"><B>Item 2.02</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Results of Operations
and Financial Conditions.</B></FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt; text-indent: 0.5in">On November 9, 2017, ClearSign Combustion
Corporation (the &ldquo;Company&rdquo;) issued a press release announcing the results for the quarter ended September 30, 2017.
The press release is included as Exhibit 99.1 to this Current Report and is incorporated by reference in its entirety into this
Item 2.02. Also on November 9, 2017, the Company conducted, by webcast and telephone, a discussion regarding the Company&rsquo;s
announcement, by press release issued the same day, of its results for quarter ended September 30, 2017. A copy of the transcript
of a portion of that discussion is attached hereto as Exhibit 99.2 and is incorporated by reference in its entirety into this Item
2.02.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt; text-indent: 0.5in">This Item 2.02, including the exhibits attached
hereto as Exhibit 99.1 and 99.2, is furnished under and shall not be deemed filed with the U.S. Securities and Exchange commission
for purposes of Section 18 of the Securities Exchange Act of 1934, as amended. The information contained in this Item 2.02 shall
not be incorporated by reference into any filing the Company makes regardless of general incorporation language in the filing,
unless expressly incorporated by reference in such filing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left"><FONT STYLE="font-size: 10pt"><B>Item 9.01</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Financial Statements
and Exhibits</B></FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 1in"><A HREF="tv479832_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Exhibit 99.1</FONT></A></TD>
    <TD><A HREF="tv479832_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Press Release issued November 9, 2017</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><A HREF="tv479832_ex99-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Exhibit 99.2</FONT></A></TD>
    <TD><A HREF="tv479832_ex99-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Transcript of Discussion of Management on November 9, 2017</FONT></A></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">SIGNATURE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this Current Report to be signed on its behalf by the undersigned hereunto
duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated: November 17, 2017</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt">CLEARSIGN COMBUSTION CORPORATION</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 28%">&nbsp;</TD>
    <TD STYLE="width: 20%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD NOWRAP><FONT STYLE="font-size: 10pt">By:</FONT>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Brian Fike</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Brian Fike</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Interim Chief Financial Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 2; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 0.5in"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tv479832_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;<IMG SRC="image_001.jpg" ALT=""></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><B>ClearSign Combustion Corporation </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Announces Third Quarter 2017 Results</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><B>&nbsp;</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>SEATTLE, November 9, 2017 &ndash;</B>
ClearSign Combustion Corporation (NASDAQ: CLIR), an innovative provider of industrial combustion technologies that deliver superior
reduction of pollutant emissions while improving operational costs</FONT>, <FONT STYLE="font-size: 10pt">today announced its results
for the third quarter ended September 30, 2017.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&ldquo;Our optimistic outlook continues to be reinforced by
the positive reception and implementation of our Duplex&trade; Technology amongst core market participants and industry incumbents,&rdquo;
said Steve Pirnat, ClearSign Chairman and CEO. &ldquo;We believe that our technology provides cost effective solutions for our
customers&rsquo; environmental and operational needs. We continue to pursue broader industry adoption, both domestically and in
emerging markets, particularly China, where the government has expressed its intention to improve air quality,&rdquo; concluded
Mr. Pirnat.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Strategic and operational highlights during and subsequent to
the third quarter included:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>ClearSign Texas Refinery Project
                                                                                                                                 Successfully Concludes Operational Testing &ndash; </B>Clearsign completed the first installation of its product, The Duplex
                                                                                                                                 Plug and Play&trade;, for industrial process heaters at a refinery in Texas.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>California
Regulator Approves Funding for Collaborative Demonstration Project with Major Refiner- </B>Board of the South Coast Air Quality
Management District (SCAQMD) unanimously approved funding to demonstrate ClearSign's Duplex products within the Torrance Refinery.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Pilot test with
                                                                                                                                 large Chinese Heating District &ndash; </B>CLIR entered into a Memorandum of Understanding (MOU) with one of
                                                                                                                                 China&rsquo;s largest providers of heating services to run a pilot test. This is Clearsign&rsquo;s first project outside of
                                                                                                                                 the U.S.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Received order from a supermajor
                                                                                                                                 oil company to qualify Duplex technology &ndash;</B> A supermajor oil company is funding a test to determine Duplex&rsquo;s
                                                                                                                                 suitability for a variety of refinery process heaters and conditions. This qualification, if successful, is a precursor to an
                                                                                                                                 installation at one its refineries. If successful, Clearsign expects that the Duplex technology will see greater
                                                                                                                                 deployment throughout this oil company and potentially other major oil companies in general.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Hired
industry veteran as new SVP of Business Development &ndash;</B> Stephen M. Sock recently joined Clearsign and will replace Andrew
Lee, who has previously announced plans to retire this year. Steve brings vast oil and gas experience along with knowledge of
the combustion industry from his 25 plus years at Foster Wheeler and other industry related engineering and construction firms.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Revenue and gross profits from our Duplex technology in the
third quarter were $0 and $(15,000), respectively, and were attributed to an increase in expected warranty costs. The net loss
for the quarter was $2.5 million compared to $3.8 million a year ago, primarily due to a decrease in intellectual property expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Working capital
at September 30, 2017 totaled $2.7 million including cash and equivalents of $3.5 million. Shares outstanding at September 30,
2017 total 15,603,853.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt"><B><U>Conference Call </U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">A conference call
discussing the release of the Company's results for the third quarter ending September 30, 2017 will be held today, November 9,
2017, at 4:30 PM Eastern Time. <FONT STYLE="background-color: white">To listen to the conference call, you should dial 1-866-372-4653
(international: +1-412-902-4217) five to ten minutes before the scheduled start time and request to be connected to the ClearSign
Combustion Corporation conference call. To listen by webcast, use this link:&nbsp;<U>https://www.webcaster4.com/Webcast/Page/987/23414
</U>or visit ClearSign's&nbsp;Investor Relations&nbsp;page. If you wish to listen to a replay of the conference call, you may
dial 1-877-344-7529 (international: +1-412-317-0088) and enter conference ID 10114230. The replay will be available for 7 days
after the conference call.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt"><B>About ClearSign Combustion Corporation&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">ClearSign Combustion
Corporation designs and develops products and technologies for the purpose of improving key performance characteristics of combustion
systems, including emissions and operational performance, energy efficiency and overall cost-effectiveness. Our patented Duplex&trade;,
Duplex Plug &amp; Play&trade; and Electrodynamic Combustion Control&trade; platform technologies enhance the performance of combustion
systems in a broad range of markets, including the energy (upstream oil production and down-stream refining), commercial/industrial
boiler, chemical, petrochemical, and power industries. For more information, please visit <U>www.clearsign.com</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Cautionary note on forward-looking statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">All statements in this press release that are not based on
historical fact are &ldquo;forward-looking statements.&rdquo; While management has based any forward-looking statements included
in this press release on its current expectations, the information on which such expectations were based may change. These forward-looking
statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties and other
factors, many of which are outside of our control, which could cause actual results to materially differ from such statements.
Such risks, uncertainties and other factors include, but are not limited to, general business and economic conditions, the performance
of management and our employees, our ability to obtain financing, competition, whether our technology will be accepted and other
factors identified in our Annual Report on Form 10-K filed with the Securities &amp; Exchange Commission and available at www.sec.gov
and other factors that are to be detailed in our periodic and current reports available for review at <U>www.sec.gov</U>. Furthermore,
we operate in a competitive environment where new and unanticipated risks may arise. Accordingly, investors should not place any
reliance on forward-looking statements as a prediction of actual results. We disclaim any intention to, and undertake no obligation
to, update or revise forward-looking statements to reflect events or circumstances that subsequently occur or of which we hereafter
become aware.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>For further information:</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Investor Relations:</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Matthew Selinger&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Three Part Advisors, LLC for ClearSign&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">+1 817-310-8776&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">mselinger@threepa.com</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Media:</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Brittney Garneau&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pierpont Communications for ClearSign&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">+1 713-627-2223&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">bgarneau@piercom.com</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="padding: 3pt 3pt 1pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>ClearSign Combustion Corporation</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 100%; padding: 3pt; text-align: center; border: Black 1pt solid"><B>Statements of Operations</B></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="padding: 3pt 3pt 1pt; text-align: center"><B><I>(unaudited)</I></B></TD></TR>
</TABLE>

<P STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="text-align: center; font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; font-weight: bold; text-align: center">For the Three Months Ended<BR> September&nbsp;30,</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; font-weight: bold; text-align: center">For the Nine Months Ended<BR> September&nbsp;30,</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 48%; font-size: 10pt; text-align: left">Sales</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">260,000</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">360,000</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">260,000</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Cost of goods sold</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">15,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">47,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">266,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">47,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Gross profit (loss)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(15,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">213,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">94,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">213,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Operating expenses:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.125in">Research and development</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,330,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,226,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">3,644,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">3,767,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 0.125in">General and administrative</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,131,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,840,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">3,569,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">5,342,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Total operating expenses</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,461,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">4,066,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">7,213,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">9,109,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Loss from operations</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(2,476,000</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(3,853,000</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(7,119,000</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(8,896,000</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Interest income, net</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">3,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">7,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">32,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">30,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Net loss</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(2,473,000</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(3,846,000</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(7,087,000</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(8,866,000</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">Net Loss per share</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(0.16</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(0.30</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(0.46</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(0.69</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</TD></TR>
</TABLE>




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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 100%; padding: 3pt; text-align: center; border: Black 1pt solid"><B>Balance Sheets</B></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="padding: 3pt 3pt 1pt; text-align: center"><B><I>(unaudited)</I></B></TD></TR>
</TABLE>

<P STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; font-weight: bold; text-align: center">September 30,</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-decoration: underline">ASSETS</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Current Assets:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; font-size: 10pt; text-align: left; padding-left: 0.125in">Cash and cash equivalents</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">3,511,000</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">1,259,000</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.125in">Accounts receivable</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">103,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.125in">Contract assets</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">126,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 0.125in">Prepaid expenses and other assets</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">575,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">535,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25in">Total current assets</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">4,212,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,897,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Fixed assets, net, and other assets</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">564,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">654,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Patents and other intangible assets, net</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,836,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,735,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 2.5pt; padding-left: 0.25in">Total Assets</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">6,612,000</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">4,286,000</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-decoration: underline; text-align: left">LIABILITIES AND STOCKHOLDERS' EQUITY</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Current Liabilities:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.125in">Accounts payable and accrued liabilities</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">863,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">755,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.125in">Current portion of lease liabilities</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">157,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">150,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.125in">Accrued compensation and taxes</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">501,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">669,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 0.125in">Contract liabilities</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">115,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25in">Total current liabilities</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,521,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,689,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Long Term Liabilities:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 0.125in">&nbsp;Long term lease liabilities</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">235,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">353,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Total liabilities</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,756,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,042,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Stockholders' Equity:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.125in"></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25in; text-indent: -0.125in">Common stock, $0.0001 par value, 15,606,353 and 12,983,938 shares issued and<BR>
outstanding at September 30, 2017 and December 31, 2016, respectively</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.125in">Additional paid-in capital</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">52,272,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">42,574,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 0.125in">Accumulated deficit</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(47,418,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(40,331,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Total stockholders' equity</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">4,856,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,244,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 2.5pt; padding-left: 0.125in">Total Liabilities and Stockholders' Equity</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">6,612,000</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">4,286,000</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 4; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>tv479832_ex99-2.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.2</B></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>ClearSign Combustion Corporation [CLIR]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Third-Quarter 2017 Results Conference
Call</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Thursday, November
9, 2017, 4:30 PM ET</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"><I>Company Participants:</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in"><I>Matthew Selinger; Three Part Advisors; IR</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in"><I>Brian Fike; CFO</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in"><I>Steve Pirnat; Chairman, CEO</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Analysts and Private Investors:</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in"><I>Lou Basenese; Disruptive Tech Research</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in"><I>James McIlree; Chardan Capital</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in"><I>Robert Kecseg; Las Colinas Capital Management</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in"><I>Walter&nbsp;Schenker, MAZ Partners</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in"><I>David Brown; Private Investor</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in"><I></I>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Presentation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt"><B><I>&nbsp;&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Operator: Good afternoon and welcome to the Clear Sign Combustion
Corporation third-quarter 2017 results conference call. All participants will be in a listen only mode. (Operator instructions)
After today's presentation there will be an opportunity to ask questions. (Operator instructions) Please note, this event is being
recorded. I would now like to turn the conference over to Matthew Selinger with Three Part Advisors. Please go ahead.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Matthew Selinger: Thank you, Chad. Greetings, everyone, and
welcome to the Clear Sign Combustion Corporation third-quarter 2017 results conference call. During the course of this conference
call, the Company will make forward-looking statements. We caution you that any statement that is not a statement of historical
fact is a forward-looking statement. This includes remarks about the Company's projections, expectations, plans, beliefs and prospects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">These statements are based on judgments and analysis as of the
date of the conference call, and are subject to numerous important risks and uncertainties that could cause actual results to differ
materially from what is described in the forward-looking statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">The risks and uncertainties associated with the forward-looking
statements made in this call include but are not limited to whether testing and field testing and sales of Clear Sign's products
will be successfully completed, whether Clear Sign will be successful in expanding the market for its products, and other risks
that are described in Clear Sign's public periodic filings with the SEC, including the discussion and the risk factors in the 2016
annual report on form 10K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Investors or potential
investors should review these risks. Clear Sign assumes no response ability to update these forward-looking statements to reflect
future events or actual outcomes, and does not intend to do so.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">On the call with me today is Steve Pirnat, Clear Sign's chairman
and chief executive officer, and Brian Fike, Clear Sign's chief financial officer. With that I'm going to turn the call now over
to Brian Fike. Brian?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Brian Fike: Thank you, Matt, and thank you to everyone joining
us here this afternoon. Before I turn the call over to Steve, I want to review our results for the quarter as they are being reported
on our form 10Q.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">For the quarter, we incurred a loss of $2.5 million, compared
to a loss of $3.8 million for the same period of 2016, and a loss of $7.1 million for the 9 months ending September 30, 2017, compared
to the net loss of $8.9 million in the same period of 2016. Our cash reserves were about $3.5 million at the end of the quarter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Our current sales backlog is approximally $850,000, which consists
largely of previously reported flare projects and a refinery project. With that, I will turn the remainder of the call over to
Steve.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat: Thank you, Brian, for that financial update. Thank
you and welcome to the participants on today's call. We are pleased to have this opportunity to update our shareholders on events
that have occurred since our last call, and I am happy to provide insight into the importance to Clear Sign and our long-term shareholder
value. I would also like to update you on topics discussed during our last call.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Now, let me go over some of the recent developments that we
have announced and discuss what they mean to Clear Sign. We are extremely pleased to have successfully completed a critical order
from a super major oil company for a series of tests to demonstrate our Duplex technology in our research lab in Seattle.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">These tests were designated to simulate a series of conditions
in our laboratory that will test our Duplex technology's wide range of capabilities with respect to operational performance, emissions,
fuel and safety, beyond what can normally be demonstrated in an actual refinery furnace.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">These tests are a prerequisite to installing our Duplex technology
in the customer's actual refinery, and if successful we expect will lead to further deployment of our Duplex technology more broadly
throughout the super major oil company's fast refinery operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">The exciting aspects of these tests is that the super major
oil company chose to pursue our technology after we were invited to present our Duplex technology at the customer's internal environmental
conference, where they evaluated Clear Sign technology along with combustion equipment and other environmental solutions from a
wide variety of suppliers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Further, they reviewed our actual field performance in a refinery
in California and reviewed detailed case study information of this installation provided by Clear Sign at the American Flame Research
Conference. The fact that they were willing to invest in the testing and evaluation of Clear Sign technology for their organization
reflects the seriousness of their intent and the compelling nature of our technology for them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Of great significance, the South Coast Air Quality Management
District's technical committee approves the funding of a Clear Sign demonstration project in Southern California this September.
Clear Sign will be meeting with our Southern California refinery partner and South Coast Air Quality Management District, to establish
a project execution plan and a timeline for completion. This should happen in the next week or so.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt"><BR>
</P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Why is this important? Let us look at this on multiple levels.
Here, we have a regulator who has seen our technology at work and wants to fund an installation at an operation in their district.
They see the value and advantages of the solution that our technology brings to the emissions problems in their district.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">What is the benefit to Clear Sign? First, another successful
demonstration with a new customer who has the ability to deploy our technology throughout their operations. Second, and probably
more importantly, the district is considering BACT designation for Clear Sign technology, based on a successful outcome from this
demonstration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">BACT stands for best available control technology, and is the
top designation issued by the regulators for this type of technology. Thus, operators would be compelled to use our technology
based on this designation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Joining us on this project will be PBF Refinery, formerly Exxon
Mobil Torrance. They will participate in the demonstration and propose funding and provide us with a strong partner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">We believe other Southern California refineries will also want
to engage in this process at some point. Recently, we have seen a renewed interest from Tesoro, for example, to join us in this
process, as well as other refineries in Southern California.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Beyond Southern California, we have had keen interest from the
San Joaquin Value Air Management District who has scheduled approval of our Duplex as BACT for OTSGs, that is, once through steam
generators, in November. This approval was previously expected to occur in September, but has been delayed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Frankly, as of this morning we feel that the approval will probably
be pushed early into the first quarter of 2018. This is based on my conversation earlier this morning.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">This would help facilitate multiple OTSG orders for major enhanced
oil recovery operators throughout California. Further, California regulators have visited Clear Sign refineries and enclosed flare
sites for evaluation of additional BACT designation for our technology in these applications.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">This regulatory interest could drive increased sales of our
Duplex technology to additional refineries and drive expanded sales of our unique enclosed ground flare technology currently in
operation in central California.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Of course, continued progress within the refinery and enclosed
ground flare space provides interest and incentive for potential licensing agreements, and selective discussions with key channel
partners are in process. This interest by US environmental regulators in Clear Sign technology has even created interest among
clients in places like China, which is dealing with a significant air quality issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Now, let me update
you more specifically on the status of certain projects discussed during our last call. The Delek refinery test of our Duplex
plug-and-play burner, which had been delayed for several months, has now been successfully completed for the first of six burners
ordered by Delek.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Further, Delek has just decided to increase the output of their
process heater and have requested that we increase the heat release of the Clear Sign burners to 5 million BTUs per hour, from
the original 2.6 million BTUs an hour, almost doubling the original requirement. The unique design of the Duplex plug-and-play
burner will allow us to install these higher output burners in essentially the same print as the original burners. Thus, Delek
can get higher output without major modifications of their heater.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">We again are focused on reducing flame and impingement problems
at Delek, not just reducing emissions. The successful demonstration of our ability to eliminate flame impingement and improve furnace
throughput could provide a tremendous opportunity at Delek and other refineries for de-bottlenecking key assets like coker heaters
and crude furnaces.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Regarding the enclosed ground flare retrofit project underway,
we have successfully retrofitted three of the five ground flares and are working with the client to schedule the completion of
the final two. During the last call, we were told by the same customer we would need multiple additional flaring units, and we
are optimistic that we would see future business from this client.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">However, they have subsequently reduced their flare layer requirements
and thus, we have not been able to identify specific needs or a timeframe for these additional flares. Nonetheless, this client
is very satisfied with Clear Sign technology and we have been requested by the same enhanced oil customer to provide a proposal
to retrofit several of their once through steam generators based on our ability to reduce NOx and eliminate the need for FTR, thus
saving them considerable operating and fuel costs. We expect to receive a contract from this OTSG retrofit shortly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Beyond the projects discussed, our pipeline of proposals and
projects interest among customers continues to grow for both refineries, once through steam generators, and boiler burners. We
have seen increased customer inquiries in Europe, the United States and China. China, in particular, has severe air pollution problems
for which we believe Clear Sign technology could provide an ideal solution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">We are currently retrofitting a large water tube boiler for
a major state-owned district heating group. This unit is expected to go up and operate within the next 60 days. The Clear Sign
technical team has been in China for several weeks, working alongside our local service partner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">If we are successful in improving the NOx emissions, we have
been told by this client that they plan to retrofit numerous additional boilers. This will give Clear Sign a major installation
with a prestigious Chinese customer and a state-owned enterprise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">As discussed, we are working on a significant retrofit project
for Duplex on a large water tube boiler with a major district heating supplier in China. This demonstration project is estimated
to be completed within the next 60 days, representing a huge opportunity for us to enter the China market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">This particular customer has several thousand boilers that would
be potential candidates for retrofit, and success with the state-owned enterprise would provide a great reference for broader deployment
of our technology throughout the district heating market within China. If successful, this district heating client has expressed
a keen interest in partnering with Clear Sign to promote Clear Sign's technology within China. This opportunity has led to a broader
interest by strategic investors among several potential Chinese partners.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">We continue to make solid progress on our smaller, higher volume
fire tube boiler burner. We are striving to achieve the same performance with this burner as we have already achieved on our larger
once through steam generators, that is sub 5 PPM and NOx levels of 3% oxygen without FGR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt"><BR>
</P>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">We have several boiler OEMs all ready to license this technology
in Europe, the US and China, once we achieve this performance. Testing within our laboratory continues and we are very confident
that we will be able to achieve sub 10 PPM NOx levels at 3% oxygen shortly. This is below the normal standard in most environmental
requirements for both China and Europe. While the current performance will meet most of the requirements in China and Europe, we
still believe we can achieve our state-of-the-art stretch goal of 5 PPM NOx at 3% levels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">We are pleased to announce that Stephen M. Sock has joined Clear
Sign as senior vice president of business development. Steve is a longtime industrial veteran with extensive experience in the
energy and combustion space. Steve spent 30 years in increasingly responsible positions with Amec Foster Wheeler. Steve has taken
over for Andy Lee, who has retired in September.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Andrew has agreed to provide consulting services to the company
to facilitate a smooth transition between himself and Steve Sock. I would like to thank Andy for his years of service and continued
contribution to Clear Sign.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">I'm very excited about the many opportunities among key customers,
regulators, and potential strategic partners like China. Nevertheless, I remain as impatient as ever that these things move faster.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">It is important to note that some of the delays that we have
experienced have been the result of our customer clients' needs and schedules, and Clear Sign has consistently been able to adapt
to meet these needs. A perfect example would probably be Delek. This has enabled us to not only promote our technology, but also
to establish strong relationships and advocacy among our customers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">With this, I would now like to pass it back to the operator
for questions. Thank you.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt"><B><I>Questions &amp; Answers</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Operator: Thank you. We will now begin the question and answer
session. (Operator instructions) Lou Basenese; Disruptive Tech Research</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Lou Basenese: I appreciate the updates. I wanted to see if you
could give us a little more color around some of these. Specifically, if we start with just China. The heating season is set to
begin there in the next couple of weeks. I'm just curious, if your timeline is 60 days in the prepared remarks, is that in reference
to the actual installation being completed, or is it taking into account testing and verification?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat: Good point, Lou. The heating season starts in
a week or so. Of course, this customer is, as I had suggested, has got literally hundreds, thousands of boilers. This particular
boiler that is out of service while they retrofit, it is not critical to the supply of district he to this particular city. That
said, the 60 days refers to not only the frankly the few weeks it will take to get the heater up and running, but the client himself
would like to see it &ndash; which is pretty reasonable &ndash;  run for at least a month before we declare victory.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Lou Basenese: Okay. All right. That makes sense. Then, can you
give us some context around what the strategic interest might look like? I mean, is it $1 million potential interest, $5 million,
$10 million plus, and what stage those discussions might be at?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat: We are pretty far along. The current framework
by which we have had direct conversations with a couple of folks is that they would make an investment in our Hong Kong holding
company, which would hold the IP for China and that that Hong Kong holding company would eventually license technology to the smaller
entities in China called WFEs, wholly foreign owned entities, that would be set up around joint ventures and align around field
of use.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">For example, you would have a joint venture or a WFE that would
in all district heating, you might have a joint venture or a WFE that would handle the refinery sector. In each of those joint
venture sectors like in district heating, we have a specific interest, as I alluded to, this district heating company to join us
in that joint venture, helping facilitate the sale of the technology.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">With respect to, again, the types of people we are talking to,
they are large national conglomerates who essentially are headquartered in China. Most of these companies are a combination of
an end-user, they own everything from power plants to steel mills, to investment bank and insurance companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">They are fairly sophisticated investors. What is encouraging
is they looked at Clear Sign as an ideal investment for them in China, and they looked at our technology and have vetted our commercial
success in a way that they feel confident that we can bring a solution to the air-quality problems in China. And they would like
to provide incentives through investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Beyond the incentive from cash investments, the types of companies
we are talking to have tremendous market clout and ability to accelerate the adoption rate that we would see in China, which I'm
sure we all appreciate. Great technology is fantastic, but accelerating our entrance into the market is also critical to the success
of Clear Sign.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">What we find in China, which is somewhat different than the
United States, is that the regulators there are leaning forward with respect to bringing in new technology and encouraging, with
a lot of specific leverage, the end users to convert to lower emission solutions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Lou Basenese: Okay, so maybe to put it another way, it would
be a substantial strategic investment, not more of a token one, given all that context you provided.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat: I expect it would be a substantial strategic investment.
Just to put some caveats on it, it depends on what they want for their money, so we have to think about that.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Lou Basenese: Understood. I don't know if I caught it in the
prepared remarks, the testing with the super major, on the last call you said it would take about three weeks. Has that testing
been completed already, and if so, what are the next steps?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat: Yes, I thought I said it in the prepared remarks
opening that we completed the test. We've essentially completed the test. We've issued them a final test report. Frankly, we are
lobbying them pretty hard right now to let us add a press release using their name.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Lou Basenese: Okay. Just one or two quick more questions, for
clarity. On Delek, what does the impact on them going to 2.6 million BTUs an hour to 5 million BTUs on each burner have on the
ASPs? Is it linear, that it would be twice the original expected revenue from that agreement?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat: It won't be because, again, this is, this first
order is more of a collaboration where we really, really, really want to have an installation with six of our burners operating
in a refinery near the Houston area where we can invite people to see it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">The thing
that &ndash;  let's say behind the scenes &ndash; is the nature of our design allows us to essentially take the original 2.5
million BTU an hour design and make slight modifications to increase its performance to 5 million, which in itself
is extraordinary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">It is
extraordinary because, forgetting about the price &ndash; because, say, in a more normalized commercial relationship we would
probably charge more for 5 million &ndash; not twice as much but say 30% more &ndash; for 5 million than 2.5 million.
The point is, is that the cost to us to modify the burner to the higher heat release is not twice as much.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">More importantly to Delek is the fact that these burners will
fit in the original opening for the current burners, which are supplied by another company, and allow us to take an installation
that was arguably 2.5 million BTU an hour installation and bring it up to 5 million without being major modifications in the heater.
Cutting holes in the floor and having to move burners around and the cost of that could be multiples of the cost of the burners
in some cases.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Lou Basenese: Okay. Last question, probably for Brian, on the
backlog number that you quoted about 850,000. By my count is 12 to 10 units in the backlog coming from places like Aera and [Trikor]
in addition to the flare guide. Does that backlog number incorporate that many units, or are you looking at it in a different way?
Could you give us some context around what qualifies as in the backlog?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Brian Fike: No, that backlog does not include quite that many
units. But some of it is just also the fact that, for instance, on the flares, we have actually collected a decent portion upfront,
so what is still owing on them isn't as much as the sales total.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Lou Basenese: Okay. Then are the reasons why you would not include
units in the backlog that have already been announced? I'm just trying to reconcile the difference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Brian Fike: Yes, I mean, we tend to not show unit sale prices,
if that is what you are trying to get.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Lou Basenese:
It is more &ndash; it seems light to compared, by my count, you've got two flares, these are all announced, additional unit
at Aera, a water tube boiler at Trikor, another new process heater at a refinery in Kern County, the five more burners at
Delek, the unit in China, and then some revenue associated with the tests at the super major. So the backlog number came up
light. Just trying to reconcile that.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve
Pirnat: You are right, I guess &ndash;  the five additional &ndash; the change order for the five burners that Delek isn't in
the backlog because we're waiting for them to send us a modification to the purchase order, reflecting the slight change in
price. That is not in the backlog load.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Lou Basenese: Okay.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 7 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat: Just to follow it up, I appreciate what you are
saying. Just to emphasize this, what Brian is saying is when we got the original six flares from this client in California, we
got a substantial amount of the payment up front. So of the six, four have been completed and we have been paid. The other two
remain in the backlog.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Lou Basenese: Okay. All right, thanks, guys. I will jump back
in the queue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Operator: [Jim McElry; Shawdan Capital]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">James McIlree:
Thanks a lot, and good afternoon. Can you tell us, what is the process with the South Coast Air Quality and Management
District in San Joaquin Valley, as well &ndash; do you have to do anything to get that process complete? Or is it all in
their hands? And if it is all in their hands, what do you have to do and what do they have to do?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat: Let's start with the easier one which is the San
Joaquin Air Quality Management District. We have already done what we had to do. They went to see an installation at one of the
refineries in San Joaquin County, which has been up and running.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">They also visited a site where, we just alluded to, we had these
flares operating. They satisfy themselves that our technology has been, as they say, reduce the practice, meaning it actually works,
and works in the real-world.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">They have to have a series of hearings. I guess they have to
draft a new resolution calling for us to be BACT, they circulated among their members, they would for community feedback and then
after that process is completed, the designation is given. Being quite candid, this was originally going to take place in September,
and we are now told it is pushed into January, February 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">There really is
&ndash; there is a process they follow, they are committed to doing it, they continue to reassure us, they are interested in
improving air quality, and our technology is uppermost in their mind. But in terms of the timeline, it is up to them to
follow this process as I've described. There's nothing for us to do, and there's really nothing we can do to make it go
faster.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">James McIlree: Okay.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat: If there was, I would be doing it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">James McIlree: No, I got it. I got it. When you say Q1 of next
year, that is for the hearings or the draft resolution or the completion of the BACT designation?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat: It will begin, say Q1 is the three-month period,
it will begin with them issuing a draft resolution and getting it out to their members. The reason I say Q1, they are still saying
is, bluntly, they are still saying they look at that out in November.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Candidly, there's Thanksgiving and there is Christmas, and I
am not optimistic since again, I was told it was going to happen in September. For them to say, it will happen in November, I just
don't see it happening in November. I think it's going to happen January, February, March of next year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">James McIlree: Yes, I get it. I agree with you, it makes much
more sense for your timeline than now. You are absolutely right on the holidays and all that.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 8 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat: I would say this though, Jim, the clients that
we have in the San Joaquin Valley are aware of this process. They talk to regulators. They know that this designation is in the
queue and &ndash; I would say there's no such thing as inevitable &ndash; but inevitable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">I think the behavior we are seeing and the interest we are seeing
from people in the Bakersfield area is consistent with people who expect to see us get that designation and who have increased
their interest in looking at our technology. That is one of the reasons that are flare customer has come back to us and said, look,
we would also like to try your technology on our once through steam generators.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">We realize the savings of FGR, the fuel savings we get from
Duplex versus our current technology gives us an economic advantage. But we want to future-proof ourselves a little bit. If we
can get a technology that can give us arguably sub 5 PPM, we might as will put that in next.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">James McIlree: And the South Coast District?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve
Pirnat: With South Coast &ndash; and there's a meeting scheduled I think actually within the next two days with the South
Coast and the refinery and ourselves &ndash; with South Coast there are things to do. I mean, we have to go with the
refinery, find out when they can take the selected asset out of service. There's some construction work that has to be done.
You are talking about a &ndash; let's just say a several-month period to install the technology and schedule the work in a
convenient way to the refinery.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Then there will be some period of time, and that has not been
specifically determined, where I am sure that South Coast will want to gather data on this installation and prove for themselves
that works the way it has been represented. Then upon the successful operation of the unit, they will designate it BACT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Now, just to put some clarity on this, the boiler we are working
with in South Coast is from a combustion perspective essentially the same as the once through steam generators that we have got
operating in San Joaquin Valley. The level of emissions that we are reporting is somewhat higher than what we have already been
able to achieve.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">We have a pretty high confidence level that we will be successful
in this demonstration, but, again, the regulators have to see it and have to have access to the site and have to be able to verify
the measurements. There is a process they go through.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Jim, I have always been unsuccessful in picking a timeline when
it involves refiners that are busy and regulators. But I would say it is certainly more like six months out than it is 60 days
out.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">James McIlree: Yes, okay. Thanks. I mean, we've had this conversation
before, it is incredibly difficult to make these guys, to make larger organizations move. They don't move at your schedule. It
is always frustrating, and I appreciate that.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat: I will say, in contrast from the limited exposure
we have had in China, we don't find that to be the case at all.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">James McIlree: Okay.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat: I mean, these guys are almost waiting for you
at the airplane saying, if you can clean up my air, come see me.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 9 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">James McIlree: Okay. Great. That is very helpful. Thanks a lot,
Steve.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Operator: Robert Kecseg; Las Colinas Capital Management</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Robert Kecseg: The thing that is most outlying here is the Aera
orders, since they are the longest user. I didn't hear any comment about the latest one, I think it was the third OTSG. Can you
talk to us about that?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat:
Yes, the third unit is  &ndash; We have got guys there now and that's been, I would say, a frustrating experience, without
getting too far into it. We went out there and was asked to retrofit this unit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">As I mentioned in a previous call, the intention on their part
was that if we could handle wellhead flare gas on this unit, if they had other opportunities for us, there were they were going
to strongly consider, I guess is the term. The first time we were out there, they had a tube leak in their once through steam generator,
and they had to take the thing out of service and repair the leaking tubes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">The second time we went back out there, they had a problem with
their PLC that controls the combustion process. It was actually a device that they purchased. They needed to replace some sensors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">The third time we were out there, which is now, they modified
the inside of the once through generator to take out some ducting that was used to guide the air in the forced draft burner they
had, and they found they really needed to put that back to make the thing work properly. So they are in the process of reinstalling
stuff that they just took out.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">We have asked them, because we have had people there, not Clear
Sign people but some of our subcontractors that have been at the site, and they have not been able to give us a specific date as
to when they're going to reinstall the equipment, so we really don't know when we will be done there. When I say that, I mean,
it is a few weeks, it's not years, but bluntly, we were hoping to have this thing resolved three months ago.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Robert Kecseg: Okay, and then the other interesting thing was
a while back there was talk about the 250 million BTU prospect in Canada. Is that still something that's possible &ndash;?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat: We did not disclose at the time who the client
was, but was with Synovus. Synovus paid us to do the engineering study and then Synovus made a fairly large acquisition I think
of another midstream company, I think they bought a lot of assets from Phillips.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">They have had
a complete change in view on their drilling and exploration protocols. So far, we have heard nothing that leads us to
believe that they are going to move forward with anything specific in the foreseeable future. Not that there won't be
other opportunities with these once through steam generators  &ndash; enhanced oil recovery in Western Canada  &ndash; but
not with this customer. Understanding that at the time, they were talking about multiple units, they had actually paid us to
do a study, and we were successful in doing it, it's just they had a need that was urgent, and they don't have the same
need.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Robert Kecseg: I was going to say since most of us on the call,
thanks to the way you presented, are familiar with the various prospects and the stages and how they seem to string out a long
time in each and every case. I was wondering maybe give people an idea if there has been this much exposure in these three verticals,
OTSG, the Delek type of heater, and the flares, could you give us an idea, based on this much exposure through the industries,
do we have a larger pile of prospects today than say 6 to about 12 months ago? I mean, is it a noticeably larger prospect list?
If I were in sales and I came in there to help them to sell, do I have that many more people to call on and work on?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt"><BR>
</P>

<!-- Field: Page; Sequence: 10 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat:, The answer is, yes, we do. Again, the cycle time
from inquiry to order is fairly long, as we all know. Not only do we have more interest in domestically, just pick an example,
you take a super major, I mean, they have enough refinery needs to keep us busy for a pretty long time if we're successful in demonstrating
the technology.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">More
importantly, we have gotten inquiries and interests  &ndash; and some of this is because of the press releases on the
success of places like South Coast Air Quality Management &ndash; we have gotten interest from operators in Europe, and
actually some operators in the Middle East. I mentioned very specifically, very strong interest in China. I guess it is
fairly reasonable to understand with the air pollution problems that are notoriously affecting China, their interest is
genuine and more urgent than others.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">We're perfectly willing to redeploy whatever resources necessary
to accommodate that and are very interested in the strategic investors that are talking to us about partnerships in both cash and
promoting the technology. Frustrating as it is, and Aera is a perfect example, we just have to follow the path that they give us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">We continue to be optimistic that we will resolve these issues
with this particular project that we talked about and we will be successful. Then eventually that will result in a greater volume
of retrofit opportunities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Concurrent with that, as I have already said, the fact that
we expect to see a BACT designation in San Joaquin Valley is awfully helpful because we think that will motivate some of the other
enhanced oil recovery customers in the area to consider our technology.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Again, I probably said this on a few calls, just no one is less
patient than I am. It is frustrating. That said, we have developed the technology that can revolutionize the ability to reduce
emissions, and do it in a cost-effective and short timeframe.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">The time it takes to retrofit our technology into a process
heater is weeks. The delay isn't how long does it take to get our stuff in, it is how long does it take to get the customer to
get a quote, make a decision, and give us access to the asset.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Robert Kecseg: Right. Along those lines, one more thing, I think
from our point of view, at least my point of view, it was looked at that you were going to reduce these emissions and it is that
type of a product that drastically reduces the emissions. But from the business point of view, all these prospects and these big
operations that they are running, it would seem to me that from their point of view, they are much more interested in cost savings,
less maintenance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">So the
impingement, the burn interference, the less fuel used &ndash; it would seem like that would be the driver. Is that the way
it is being presented to these companies now, as opposed to just reducing NOx and CO? I'm differentiating between the two &ndash;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat: Yes, that is exactly right. Again, to emphasize
the contract with Delek was surely based on their interest in seeing if we could reduce the flame length and flame impingement.
They have a whole class of equipment called delayed coker heaters where that is a concern. The whole industry has those kinds of
concerns. Yes, we had estimated that 20% of the demand would be driven by operational challenges with flame impingement and burner
to burner interference and not emissions reduction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 11 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Robert Kecseg:
Right. Yes, and on that topic, since I was reading a little bit more about the delayed coker heaters, and it seems  &ndash;
you had mentioned it is more of a mission-critical component, could we imagine that they would also want to change the burner
in those that would be larger, like the one that was installed in. In other words, because the flame is shorter and all that,
less interference, do you think that would be another advantage for them to be able to use a little larger BTU
installation?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat: That actually is a very good insight. That is
exactly why this is exciting to them. If you have a traditional burner and you significantly increase the heat release in the same
heater, the flame gets too long and too big to fit in.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Because our flame is short and compact, you can increase the
heat and not have the problem. I guess that is a long, yes. Anecdotally, it so happens that our new head of business development,
Steve Sock, worked for Foster Wheeler Amec for 30 years and they are one of the largest suppliers of delayed cokes in the world.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Robert Kecseg: Right.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat: So I mean, we know people.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Robert Kecseg: Okay. Is there any way you can quantify the prospects,
my earlier question of the increased number of prospects out there just to give us an idea, is it 50% more, 30% more? Can you give
us some general big picture thing on prospects today?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat:
It is way more than 50% more but I hesitate to pick such an arbitrary number. I guess the way we envision doing this  &ndash;
and maybe that is too much of a delay &ndash; but doing it when we get the booking. We actually get someone that says, okay,
here's an order, it is in the backlog. How much has the backlog increased?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Because
&ndash; this is why I am qualifying it  &ndash; we have a lot of interest from people, I mean, really people that say, come
see us, talk to us, send us a proposal. A lot of it is just budget preparation for the following year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">It is a good sign, and maybe that is the thing to do, maybe
we should just, rather than track bookings, we ought to just track dollars quoted and use that as a metric. One of the problems
with doing that is when you are a startup like ours it's difficult sometimes to segregate dollars quoted for clients that really
intend to buy something, as opposed to dollars quoted to somebody who is just trying to put together a budget or doing some exploratory
work.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">A case in point is, it is a real project, we have an inquiry
from a refinery in, frankly, Israel. They started out saying, we need to retrofit three or four heaters, but eventually we have
probably 100 burners we need.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">We, frankly, got pretty excited and started running around looking
at that. The people we were talking to were third-party consultants. When you look behind the curtain, this guy was being paid
to do a study for a long-term capital expenditure analysis, but I can't sit down today and say, well, if I do everything they want,
sometime in the next two months I will get an order for 10 burners.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Now, we haven't given up on that and we have a lot of opportunities
like that and they eventually materialize. But we are a little bit guarded about projecting quotation numbers because they could
be deceptive and/or misrepresent what is really going on.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Robert Kecseg: On the Torrance refinery, excuse my ignorance,
is that already an operating facility or &ndash;?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 12 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat: Yes. As I said in our prepared remarks, it is
the former Exxon Mobil Torrance refinery. I know &ndash;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Robert Kecseg: There was some sort of accident there in the
past that I was reading about.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat: I
don't know about that. Maybe. But there was a whole discussion on that at the South Coast Air Quality Management District
meeting that is on a video link, where actually they talk specifically about that refiner. I think  &ndash; you might be
right, they had an accident but that is not something I am necessarily familiar with. I know they are keenly interested in
reducing their NOx emissions, and they see us as a real opportunity for them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Frankly, as a result of their interest we have reengaged with
Tesoro and other refiners in Southern California who are interested in pursuing this.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Robert Kecseg: Great. I appreciate all your help and look forward
to hearing about the water tube boilers in China. Thank you.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Operator: Walter Schenker; MAZ Partners</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Walter Schenker: I noticed the company filed the [NF1] and is
again my editorializing, hopefully raising the capital it needs to get it where it needs to go. This financing with the banker
on the cover hopefully, can you give some sense as to what you think the timing may be. And is the capital you raised limited in
the number of shares due to some 20% outstanding or something? Question.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat: We filed [NF1].</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Walter Schenker: Yes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat: There's no limit on the amount that we can raise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Walter Schenker: Okay.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat: As far as the timing goes, we haven't quite determined
the timing. It would certainly be sooner rather than later, as a byproduct of our current balance sheet, but we also have a backlog
and some other things, actual projects pending. We're going to consider all of that before we do anything.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Walter Schenker: Okay, so the amount you raise has not yet been
determined and would be a function of where the stock is and how you perceive your capital needs at the time, you would actually
do the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat: Correct.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Brian Fike: In a way it is housekeeping. We are getting it out
there and ready to go when we need to do that.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Walter Schenker: Okay. As an editorial comment, hopefully you
will raise more and not less, so that the issue which continues to weigh on the Company of the cash available on the balance sheet
will be removed for some fairly long period of time, hopefully. As a shareholder, I would like to see the question get taken away
for a while. Maybe you would too, as the guy running the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat: I think, I would say that is probably, yes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 13 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Walter Schenker: Okay, thanks a lot.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Operator: David Brown; Private Investor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">David Brown:
This morning I would like more clarity on plug-and-play. I know at Delek, testing was with  &ndash; that is a hope that other
companies will utilize. Could you tell me a little more about the ramp with the plug-and-play?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat: Yes, the project that I alluded to in Israel involved
plug and play. The whole super major oil company is all plug-and-play. The reengaged discussions we are having, for example, with
someone like Tesoro is somewhat plug-and-play. For the most part when it comes to, say, for refinery applications, 90% of what
we do going forward will be plug-and-play.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">David Brown:
Thank you. Another question quickly on &ndash; you had mentioned on the call, this call, that the sub 5 PPM 3% oxygen testing
of trying to get the smaller high-volume fire tube boiler licensing hopefully is &ndash; you are getting there and you said
the word, shortly. Could you give me a little more color on what shortly means?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat: Yes, it is research. The thing about research
is if we do a day we publish it. Shortly, I am saying it is certainly inside a year. I was out in the lab this afternoon and guys
are running tests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Now, I will provide one more color commentary on that. For example,
we could achieve a significant reduced level of NOx in the order of 5 PPM with 3% oxygen if we are selective about the geometry
of the fire tube boilers that we deal with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Meaning, some
of the older boilers had very big fireboxes, which is a little more information than you want, and they run cooler than newer
equipment, which was made to be more cost-effective than was &ndash; because it was made smaller, the heat intensity inside
them is higher. We have set a standard for us to do the vast majority of current modern fire tube boilers and an extremely
low NOx level, with a very high efficiency at 3%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Right now, the product that we are testing is capable of operating
at single-digit NOx at 3% oxygen at a large portion of the fire tube boilers, and that would make it acceptable to regulators in
places like Europe. But it is not so dramatically different than other products that exist that it is going to give us the kind
of command position to negotiate very broad attractive licensing agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">We are
trying to not rush something to market until we think we have really exhausted options with respect to improvements. Our
guys &ndash; and I will tell you it was just before lunch &ndash; are still pretty excited that they can continue to make
improvements in the performance of this thing. If they can do it inside a year, I think it is well worth waiting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">That said, at some point we will launch a product into the market
and license it to people who are interested. Again, there are people who are interested in some form of the device we have in its
current form.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">I guess we continue to be optimistic that we are going to get
where we want to be and that we have something right now that is marketable, although it is not the kind of breakthrough technology
that the other Clear Sign products are.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">David Brown: Great. Just as an aside, I saw a pop up ad when
I was looking at comments on my article on Seeking Alpha from one of your competitors from Japan, Miura boilers, I clicked on the
ad and they were saying that their best performance, and it was advertised as a green product, great breakthrough kind of product,
at 9 PPM at 3% NOx.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 14 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">I remember you saying you wanted to hit a homerun on this one,
and not just be a little bit better than the competition. I think that is what I am hearing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat: Yes, and that's the exact point, they can do 9%,
and right now without any hard work, we could probably do seven at 3%, but I don't think we want to launch a product over 2 PPM.
Let's hit a homerun and have a line around the door trying to license it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">David Brown: Okay, that is exactly what I thought you said.
I'm reading between the lines. Also reading between the lines a little bit on China, I am hearing myself that what you are saying
is basically China cannot wait.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Unfortunately, with some of our North American partners, they've
kicked the can down the road. We have had some frustrations with Synovia and Aera, etc. Is that accurate, that basically once this
testing looks good to them and you are even saying now one month instead of three months, you said on the last call, we are going
to see some business. We hope at least.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat:
Yes, just to be exactly precise we are  &ndash; and I get text messages from our team in China every morning. As of this
morning, we are putting the final touches on this particular boiler that we've retrofitted. Assuming it meets the emissions
that we anticipate, we have been told by this particular state-owned enterprise, who has thousands of boilers, that they want
to retrofit their inventory of boilers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">We have never disclosed, for competitive reasons, who this customer
is, but I can say that the president of China when he looks out his window sees the air in the city. And he would like to be able
to see the ground.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">David
Brown: You bet. One final quick question. I've always been interested in ECC. I have heard some rumors &ndash; is there a
possibility of some kind of application where we would have Duplex 2.0 that would be in competition with ECC for certain
applications?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat: Yes, I mean, that is interesting. You might have
better contacts than I do. We are referring to it internally as Super Duplex.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">David Brown: Okay, I like that too. All right, thanks, Steve.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Operator: Ladies and gentlemen, this concludes our question
and answer session. I would like to turn the conference back over to Steve Pirnat for any closing remarks.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Steve Pirnat: Again, I would like to thank our investors for
their participation. With that, if there are no further questions, I'll end the call.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt">Operator: Thank you. The conference is now concluded. Thank
you for attending today's presentation. You may now disconnect.</P>



<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 15; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>image_001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  $! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_
MVP!# 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_P  1" !3 .T# 2(  A$! Q$!_\0
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MNB>*4%B-S[<@>YBN$.),(FY934T5[+5V2;VBKO1;*[>R3=D^#^TL(]Y/[O\
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MI)M8B0$ G)E48R>K+W-?3J^*X 5WJ^+UJ_YG!:OYJ[_S/.VSGUC^9C?M>_\
M!3"Y^%OC*^^#?P!\/:?XT^(VF71T3Q%KNK6>M:GX:T/Q,S!D\':/HNAQBXU_
MQ+@#,6]53+(ZR;5(^4]7_:6_X*M?#FQ/Q%\;^%=8@\$6Q^VWMGX@^#^B'3+'
M3%X_XGO_  CW_%4:!C@'(XX^E?"'[,/Q=\5_"_XL?\+9\.?"V#XP^-SI.I7Q
MM;D:MJ?]AZEK;!F\8L-"1U_M^508Y,+N">(F\MDDPR?I;/\ \%0OVG9HIH9_
MV2H;F"9FM+A_[)^);:?=[@5(!;PVQ*X)!#[L]^V/J<1PS6R>4<#@>$(<11LO
M:U)^T<YRNK\D(-1@EJUS72O&*3Y92EYRS*.+OJT[Z6V6]KVL^VVO7R/M_P#8
MK_;L\*_M1:??^'M3TF+P9\5M"T==5UCPJE\VIZ?KFE%$C76O"$AWR21DJ/,\
M/X-Q &+[C$973:_;2_;<\*?LK:%IUC;:9;>-?BEXELI;GP[X2-X=/L+'3MIC
M.O>+YQ+OMO#Z,9(W8#>S!MNS:KM^%7[.*_$7PY^V#\,/B+X=^%?C;P!I&J?&
M#-YX?M/!WC ^&M!\,>.3_86N:.-;/ADJ?#RMK89200"!@<5Z/\2M/MOV@O\
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M\'ZIJO\ PF/Q)UI(4G\2:U-<Z/&]W--(Q4$HN$:%$_B)_:I_X(@_M\?\$]?
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M?&ITSQ!KWB'_ (3LZ-JZ>(K:*1E\.Z"#'YEN?)D&Z/#_ +QO@OXH_P#!9O\
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MK>ST_3H_"VK:/IFI^'(]/T=R=+C_ +&EC:'9'L0Q(R;08BH4!<&?PCX)\'^
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M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
/!1110 4444 %%%% '__9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
