-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 AHzmKJmK2YX0SN5Gvz8R8LRx6Ao9z4ss+Gy3sc9H9Uzhq4EPFVwkmjophAB/Wo9A
 PWj+hU3wyNCfKgVGbNYrjw==

<SEC-DOCUMENT>0001144204-09-035100.txt : 20090630
<SEC-HEADER>0001144204-09-035100.hdr.sgml : 20090630
<ACCEPTANCE-DATETIME>20090630092629
ACCESSION NUMBER:		0001144204-09-035100
CONFORMED SUBMISSION TYPE:	20-F
PUBLIC DOCUMENT COUNT:		11
CONFORMED PERIOD OF REPORT:	20081231
FILED AS OF DATE:		20090630
DATE AS OF CHANGE:		20090630

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Vuance
		CENTRAL INDEX KEY:			0001291855
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		20-F
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33668
		FILM NUMBER:		09917982

	BUSINESS ADDRESS:	
		STREET 1:		PO BOX 2094
		CITY:			RA
		STATE:			L3
		ZIP:			43665
		BUSINESS PHONE:		972-9-775-0800

	MAIL ADDRESS:	
		STREET 1:		PO BOX 2094
		CITY:			RA
		STATE:			L3
		ZIP:			43665

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SuperCom Ltd.
		DATE OF NAME CHANGE:	20040526
</SEC-HEADER>
<DOCUMENT>
<TYPE>20-F
<SEQUENCE>1
<FILENAME>v153517_20f.htm
<TEXT>
<html>
  <head>
    <title>Unassociated Document</title>
    <!--Licensed to: Vintage Filings-->
    <!--Document Created using EDGARizer 4.0.6.4-->
    <!--Copyright 1995 - 2008 EDGARfilings, Ltd., an IEC company. All rights reserved-->
    </head>
    <body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">UNITED
STATES</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECURITIES
AND EXCHANGE COMMISSION</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Washington,
D.C. 20549</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <div>
        <hr style="COLOR: black" align="center" noshade size="1" width="20%">
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FORM
20-F</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Mark
One)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 27pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Wingdings">&#168;</font></font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">REGISTRATION STATEMENT PURSUANT
      TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF
      1934</font></font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">OR</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 27pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Wingdings">x</font></font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">ANNUAL REPORT PURSUANT TO
      SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
      1934</font></font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For
the fiscal year ended December 31, 2008</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">OR</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 27pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Wingdings">&#168;</font></font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">TRANSITION REPORT PURSUANT TO
      SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
      1934&#160;</font></font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">OR</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 27pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Wingdings">&#168;</font></font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">SHELL COMPANY REPORT PURSUANT
      TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
      1934&#160;</font></font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date of
event requiring this shell company report <font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Commission
file number 000-50790</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <div>
        <hr style="COLOR: black" align="center" noshade size="1" width="20%">
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
name of Registrant as specified in its charter)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
Applicable</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Translation
of Registrant&#8217;s Name into English)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Israel</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Jurisdiction
of incorporation or organization)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Sagid
House &#8220;Ha&#8217;Sharon Industrial Park&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">P.O.B
5039, Qadima 60920</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Israel</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
of principal executive offices)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <div>&#160;</div>
      <div>
        <hr style="COLOR: black" align="center" noshade size="1" width="20%">
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Securities
registered or to be registered pursuant to Section 12(b) of the
Act.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">None</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Securities
registered or to be registered pursuant to Section 12(g) of the
Act.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Ordinary
Shares NIS 0.0588235 nominal value</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Securities
for which there is a reporting obligation pursuant to Section 15(d) of the
Act.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">None</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Indicate
the number of outstanding shares of each of the issuer&#8217;s classes of capital or
common stock as of the close of the period covered by the annual report:
5,259,874 ordinary shares as of December 31, 2008.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Indicate
by check mark if the registrant is a well-known seasoned issuer, as defined in
Rule 405 of the Securities Act.&#160;Yes&#160;&#160;<font style="DISPLAY: inline;" face="Wingdings">&#168;</font>&#160;&#160;&#160;&#160;No&#160;&#160;<font style="DISPLAY: inline;" face="Wingdings">x</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If this
report is an annual or transition report, indicate by check mark if the
registrant is not required to file reports pursuant to Section&#160;13 or 15
(d)&#160;of the Securities Exchange Act of 1934.&#160;&#160;&#160;&#160;<font style="DISPLAY: inline;" face="Wingdings">&#168;</font>&#160;Yes&#160;&#160;&#160;&#160;<font style="DISPLAY: inline;" face="Wingdings">&#168;</font>&#160;No</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Indicate
by check mark whether the registrant (1) has filed all reports required to be
filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter periods that the registrant was
required to file such reports), and (2) has been subject to such reporting
requirements for the past 90 days.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Yes&#160;&#160;<font style="DISPLAY: inline;" face="Wingdings">x</font>&#160;&#160;&#160;&#160;No&#160;&#160;<font style="DISPLAY: inline;" face="Wingdings">&#168;</font>&#160;&#160;&#160;&#160;Not
applicable&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, or a non-accelerated filer. See definition of &#8220;accelerated
filer and large accelerated filer&#8221; in Rule 12b-2 of the Exchange Act. (Check
one):</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Large
accelerated filer <font style="DISPLAY: inline;" face="Wingdings">&#168;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Accelerated
filer <font style="DISPLAY: inline;" face="Wingdings">&#168;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Non-accelerated
filer <font style="DISPLAY: inline;" face="Wingdings">x</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Indicate
by check mark which financial statement item the registrant has elected to
follow.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
17&#160;&#160;<font style="DISPLAY: inline;" face="Wingdings">&#168;</font>&#160;&#160;&#160;&#160;Item
18&#160;&#160;<font style="DISPLAY: inline;" face="Wingdings">x</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If this
is an annual report, indicate by check mark whether the registrant is a shell
company (as defined in Rule 12b-2 of the Exchange Act).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Yes&#160;&#160;<font style="DISPLAY: inline;" face="Wingdings">&#168;</font>&#160;&#160;&#160;&#160;No&#160;&#160;<font style="DISPLAY: inline;" face="Wingdings">x</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(APPLICABLE
ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE
YEARS)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Indicate
by check mark whether the registrant has filed all documents and reports
required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act
of 1934 subsequent to the distribution of securities under a plan confirmed by a
court.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Yes&#160;&#160;<font style="DISPLAY: inline;" face="Wingdings">&#168;</font>&#160;&#160;&#160;&#160;No&#160;&#160;<font style="DISPLAY: inline;" face="Wingdings">&#168;</font></font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">TABLE
OF CONTENTS</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <table cellpadding="0" cellspacing="0" width="100%">
            <tr bgcolor="#ccffcc">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">PART
      I</font></div>
              </td>
              <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr>
            <tr bgcolor="white">
              <td valign="top" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr>
            <tr bgcolor="#ccffcc">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">NOTES
      REGARDING FORWARD-LOOKING STATEMENTS</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4</font></div>
              </td>
            </tr>
            <tr bgcolor="white">
              <td valign="top" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr>
            <tr bgcolor="#ccffcc">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ITEM
      1.&#160;&#160;IDENTITY OF DIRECTORS, SENIOR MANAGEMENT &amp;
      ADVISORS</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6</font></div>
              </td>
            </tr>
            <tr bgcolor="white">
              <td valign="top" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr>
            <tr bgcolor="#ccffcc">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ITEM
      2.&#160;&#160;OFFER STATISTICS AND EXPECTED TIMETABLES</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6</font></div>
              </td>
            </tr>
            <tr bgcolor="white">
              <td valign="top" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr>
            <tr bgcolor="#ccffcc">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ITEM
      3.&#160;&#160;KEY INFORMATION</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6</font></div>
              </td>
            </tr>
            <tr bgcolor="white">
              <td valign="top" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr>
            <tr bgcolor="#ccffcc">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Selected
      Financial Data</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6</font></div>
              </td>
            </tr>
            <tr bgcolor="white">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Capitalization
      and Indebtedness</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8</font></div>
              </td>
            </tr>
            <tr bgcolor="#ccffcc">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Reasons
      for the Offer and Use of Proceeds</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8</font></div>
              </td>
            </tr>
            <tr bgcolor="white">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Risk
      Factors</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8</font></div>
              </td>
            </tr>
            <tr bgcolor="#ccffcc">
              <td valign="top" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr>
            <tr bgcolor="white">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ITEM
      4.&#160;&#160;INFORMATION ON THE CORPORATION</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">26</font></div>
              </td>
            </tr>
            <tr bgcolor="#ccffcc">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">History
      and Development of the Corporation</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">26</font></div>
              </td>
            </tr>
            <tr bgcolor="white">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Business
      Overview</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">30</font></div>
              </td>
            </tr>
            <tr bgcolor="#ccffcc">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Organizational
      Structure</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">42</font></div>
              </td>
            </tr>
            <tr bgcolor="white">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Property,
      Plants and Equipment</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">43</font></div>
              </td>
            </tr>
            <tr bgcolor="#ccffcc">
              <td valign="top" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr>
            <tr bgcolor="white">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ITEM
      4A.&#160;&#160;UNSOLVED STAFF COMMENTS</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">43</font></div>
              </td>
            </tr>
            <tr bgcolor="#ccffcc">
              <td valign="top" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr>
            <tr bgcolor="white">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ITEM
      5.&#160;&#160;OPERATING AND FINANCIAL REVIEW AND PROSPECTS</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">44</font></div>
              </td>
            </tr>
            <tr bgcolor="#ccffcc">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating
      Results</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">44</font></div>
              </td>
            </tr>
            <tr bgcolor="white">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Liquidity
      and Capital Resources</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">56</font></div>
              </td>
            </tr>
            <tr bgcolor="#ccffcc">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Research
      and Development</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">59</font></div>
              </td>
            </tr>
            <tr bgcolor="white">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Trend
      Information</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">59</font></div>
              </td>
            </tr>
            <tr bgcolor="#ccffcc">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Off-Balance
      Sheet Arrangements</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">60</font></div>
              </td>
            </tr>
            <tr bgcolor="white">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Tabular
      Disclosure of Contractual Obligation</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">61</font></div>
              </td>
            </tr>
            <tr bgcolor="#ccffcc">
              <td valign="top" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr>
            <tr bgcolor="white">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ITEM
      6.&#160;&#160;DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">61</font></div>
              </td>
            </tr>
            <tr bgcolor="#ccffcc">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Directors
      and Senior Management</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">61</font></div>
              </td>
            </tr>
            <tr bgcolor="white">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Compensation</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">64</font></div>
              </td>
            </tr>
            <tr bgcolor="#ccffcc">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Board
      Practices</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">65</font></div>
              </td>
            </tr>
            <tr bgcolor="white">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Employees</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">67</font></div>
              </td>
            </tr>
            <tr bgcolor="#ccffcc">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Share
      Ownership</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">68</font></div>
              </td>
            </tr>
            <tr bgcolor="white">
              <td valign="top" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr>
            <tr bgcolor="#ccffcc">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ITEM
      7.&#160;&#160;MAJOR SHAREHOLDERS AND RELATED PARTY
      TRANSACTIONS</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">72</font></div>
              </td>
            </tr>
            <tr bgcolor="white">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Major
      shareholders</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">72</font></div>
              </td>
            </tr>
            <tr bgcolor="#ccffcc">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Related
      Party Transactions</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">73</font></div>
              </td>
            </tr>
            <tr bgcolor="white">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Interests
      of Experts and Counsel</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">74</font></div>
              </td>
            </tr>
            <tr bgcolor="#ccffcc">
              <td valign="top" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr>
            <tr bgcolor="white">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ITEM
      8.&#160;&#160;FINANCIAL INFORMATION</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">75</font></div>
              </td>
            </tr>
            <tr bgcolor="#ccffcc">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Consolidated
      Statements and Other Financial Information (Audited)</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">75</font></div>
              </td>
            </tr>
            <tr bgcolor="white">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Significant
      Changes</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">77</font></div>
              </td>
            </tr>
            <tr bgcolor="#ccffcc">
              <td align="left" valign="top" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr>
            <tr bgcolor="white">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ITEM
      9&#160;&#160;THE OFFER AND LISTING</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">78</font></div>
              </td>
            </tr>
            <tr bgcolor="#ccffcc">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Offer
      and Listing Details</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">78</font></div>
              </td>
            </tr>
            <tr bgcolor="white">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Plan
      of Distribution</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">80</font></div>
              </td>
            </tr>
            <tr bgcolor="#ccffcc">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Markets</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">80</font></div>
              </td>
            </tr>
            <tr bgcolor="white">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Selling
      Shareholders</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">80</font></div>
              </td>
            </tr>
            <tr bgcolor="#ccffcc">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Dilution</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">80</font></div>
              </td>
            </tr>
            <tr bgcolor="white">
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Expenses
      of the Issue</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">80</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <div align="left">
          <table cellpadding="0" cellspacing="0" width="100%">
              <tr bgcolor="#ccffcc">
                <td align="left" valign="top" width="80%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ITEM
      10.&#160;&#160;ADDITIONAL INFORMATION</font></div>
                </td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">80</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="top" width="80%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Share
      Capital</font></div>
                </td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">80</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="top" width="80%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Memorandum
      and Articles of Association</font></div>
                </td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">80</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="top" width="80%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Material
      Contracts</font></div>
                </td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">84</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="top" width="80%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exchange
      Controls</font></div>
                </td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">84</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="top" width="80%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Taxation</font></div>
                </td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">84</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="top" width="80%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Dividends
      and Paying Agent</font></div>
                </td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">92</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="top" width="80%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Statement
      by Experts</font></div>
                </td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">92</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="top" width="80%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Documents
      on Display</font></div>
                </td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">92</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="top" width="80%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Subsidiary
      Information</font></div>
                </td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">92</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td valign="top" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="top" width="80%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ITEM
      11.&#160;&#160;QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
      RISK</font></div>
                </td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">92</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="top" width="80%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Quantitative
      and Qualitative Information about Market Risk</font></div>
                </td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">92</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td valign="top" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="top" width="80%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ITEM
      12.&#160;&#160;DESCRIPTION OF SECURITIES OTHER THAN EQUITY
      SECURITIES</font></div>
                </td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">93</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td valign="top" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="top" width="80%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">PART
      II</font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr bgcolor="white">
                <td valign="top" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="top" width="80%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ITEM
      13.&#160;&#160;DEFAULTS, DIVIDEND ARREARAGES AND
    DELINQUENCIES</font></div>
                </td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">93</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td valign="top" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="top" width="80%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ITEM
      14.&#160;&#160;MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY
      HOLDERS</font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="top" width="80%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">AND
      USE OF PROCEEDS</font></div>
                </td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">93</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td valign="top" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="top" width="80%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ITEM
      15.&#160;&#160;CONTROLS AND PROCEDURES</font></div>
                </td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">94</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td valign="top" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="top" width="80%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ITEM
      16.&#160;&#160;RESERVED</font></div>
                </td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">95</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td valign="top" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="top" width="80%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ITEM
      16A.&#160;&#160;AUDIT COMMITTEE FINANCIAL EXPERT</font></div>
                </td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">95</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td valign="top" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="top" width="80%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ITEM
      16B.&#160;&#160;CODE OF ETHICS</font></div>
                </td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">95</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td valign="top" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="top" width="80%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ITEM
      16C.&#160;&#160;PRINCIPAL ACCOUNTANT FEES AND SERVICES</font></div>
                </td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">95</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td valign="top" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="top" width="80%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ITEM
      16 D.&#160;&#160;EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT
      COMMITTEES</font></div>
                </td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">96</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td valign="top" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="top" width="80%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ITEM
      16E.&#160;&#160;PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND
      AFFILIATED PURCHASERS</font></div>
                </td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">96</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td valign="top" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="top" width="80%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">PART
      III</font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr bgcolor="white">
                <td valign="top" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="top" width="80%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ITEM
      17.&#160;&#160;FINANCIAL STATEMENTS</font></div>
                </td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">96</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td valign="top" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="top" width="80%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ITEM
      18.&#160;&#160;FINANCIAL STATEMENTS</font></div>
                </td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">96</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td valign="top" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="top" width="80%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ITEM
      19.&#160;&#160;EXHIBITS</font></div>
                </td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">148</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td valign="top" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="top" width="80%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">SIGNATURE</font></div>
                </td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">149</font></div>
                </td>
              </tr>
          </table>
        </div>
      </div>
    </div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
REGARDING FORWARD-LOOKING STATEMENTS</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>This Annual Report on Form 20-F
(&#8220;Annual Report&#8221;) contains &#8220;forward-looking statements&#8221; within the meaning of
the United States Private Securities Litigation Reform Act of 1995 that are not
historical facts but rather reflect our present expectations concerning future
results and events. Words such as &#8220;anticipate,&#8221; &#8220;estimate,&#8221; &#8220;expects,&#8221; &#8220;may,&#8221;
&#8220;projects,&#8221; &#8220;intends,&#8221; &#8220;plans,&#8221; &#8220;believes,&#8221; &#8220;would,&#8221; &#8220;could&#8221; and words and terms
of similar substance used in connection with any discussion of future operating
or financial performance may identify forward-looking statements. These forward
looking statements include, but are not limited to, statements regarding: (i)
our belief about our competitive position in the security access, tracking,
asset management and monitoring, active and passive radio frequency
identification (&#8220;RFID"), disaster recovery, Critical Situation Management System
("CSMS") and Credentialing ("RAPTOR") markets, and our ability to become a key
technological player in such markets; (ii) our belief about the commercial
possibilities for our products in such markets; (iii) our expectation to be able
to leverage our current products and technologies for the development of new
applications and penetration to additional markets; (iv) our expectation to be
able to continue to participate in the government market; (v) our belief about
our ability to leverage our public sector experience into the commercial sector;
(vi) our belief regarding the effects of competitive pricing on our margins,
sales and market share; (vii) our expectations regarding the effects of the
legal proceedings we are involved in on our sales and operating performance,
including, without limitation to, our belief regarding the merit of the claim of
the Department for Resources Supply of the Ministry of Ukraine against us and
regarding the Secu-System claim. (See &#8220;Legal Proceedings&#8221; in Item 8.A); (viii)
our belief regarding the fluctuations of our operating results, including our
belief about the effects of inflation and the fluctuation of the NIS/dollar
exchange rate on our operating results; (ix) our expectations about our future
revenues (or absence of revenues); (x) our expectations about the effects of
seasonality on our revenues and operating results; (xi) our expectations
regarding development and introduction of future products; (xii) our
expectations regarding revenues from our existing customer contracts and
purchase orders, including, without limitation, the value of our agreement for
our end-to-end system for a national multi-ID issuing and control system with
the government of a European country, the value of our agreement for our
perimeter security and border control at European International Airport and our
expectations for increased revenues from sales of additional technology and raw
materials to such government; (xiii) our expectations regarding the success of
our new active and passive RFID technology and our CSMS and RAPTOR products;
(xiv) our expectations regarding the effectiveness of our marketing programs and
generation of business from those programs, including our ability to continue to
sell products through strategic alliances and our belief about the role customer
service plays in our sales and marketing programs; (xv) our anticipation that
sales to a relatively small number of customers will continue to account for a
significant portion of our net sales; (xvi) our expectations regarding the mix
of our sources of revenues; (xvii) our belief about the sufficiency or
insufficiency&#160;&#160;of our capital resources and other sources of liquidity
to fund our planned operations; (xiii) our expectations regarding our recurring
revenues and backlog; (xix) our belief that we have not been a passive foreign
investment company ("PFIC") for U.S. tax purposes; (xx) our belief regarding the
impact of recently issued accounting pronouncements (see note 2(aa) to the
financial statements included in this report) and adoption of new accounting
pronouncements in the future on our earnings and operating results; and (xxi)
our expectation regarding the success of the integration of the SHC business (as
defined in &#8220;Risk Factors&#8221; in Item 3.D). All forward-looking statements are based
on our management&#8217;s present assumptions and beliefs in light of the information
currently available to us. Actual results, levels of activity, performance or
achievements may differ materially from those expressed or implied in the
forward-looking statements for a variety of reasons, including: changes in
demand for our products; market conditions in our industry and the economy as a
whole; variations, expansions or reductions in the mix of our product offerings;
the timing of our product introductions; increased competition; introduction of
new competing technologies; the increase of unexpected expenses; and such other
factors discussed below under the captions &#8220;Risk Factors&#8221; in Item 3.D and
&#8220;Operating and Financial Review and Prospects&#8221; in Item 5 and elsewhere in this
Annual Report. We are not under any obligation, and expressly disclaim any
obligation, to update or alter any forward-looking statements, whether as a
result of new information, future events or otherwise. All subsequent
forward-looking statements attributable to us or any person acting on our behalf
are expressly qualified in their entirety by the cautionary statements contained
or referred to in this section, and you are cautioned not to place undue
reliance on these forward-looking statements which speak only as of the date of
this Annual Report.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In this
Annual Report, all references to "Vuance," the &#8220;Company,&#8221; "we," "us" or "our"
are to Vuance Ltd., a company organized under the laws of the State of Israel,
and its subsidiaries.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;In
this Annual Report, unless otherwise specified or unless the context otherwise
requires, all references to "$" or "dollars" are to U.S. dollars and all
references to "NIS" are to New Israeli Shekels. Except as otherwise indicated,
the financial statements of and information regarding Vuance are presented in
U.S. dollars.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Note: </font><font style="DISPLAY: inline; FONT-STYLE: italic">Unless otherwise indicated herein,
the prices and quantities of our ordinary shares provided in this Annual Report
reflect the 1 to 5.88235 share consolidation (reverse share split) that we
completed on April 29, 2007 and which became effective for trading purposes as
of May 14, 2007.</font></font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">PART
I</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
1.&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-STYLE: italic">Identity of Directors, Senior
Management and Advisors.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
applicable.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
2.&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-STYLE: italic">Offer Statistics and Expected
Timetables.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
applicable.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
3.&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-STYLE: italic">Key
Information.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">A.&#160;&#160;&#160;&#160;Selected
Financial Data</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
following selected consolidated financial data as of December 31, 2004, 2005,
2006, 2007 and 2008 and for the years then ended have been derived from our
audited consolidated financial statements. These financial statements have been
prepared in accordance with generally accepted accounting principles in the
United States, or U.S. GAAP, and audited by Fahn Kanne &amp; Co., a member of
Grant Thornton International. The selected consolidated financial data set forth
below should be read in conjunction with and are qualified by reference to Item
5, "Operating and Financial Review and Prospects" and the consolidated financial
statements and notes thereto and other financial information included elsewhere
in this Annual Report. Historical results are not necessarily indicative of
future results.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">SUMMARY OF CONSOLIDATED
FINANCIAL DATA YEAR ENDED DECEMBER 31,</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <div align="center">
          <div align="center">
            <div align="center">
              <div align="center">
                <table cellpadding="0" cellspacing="0" width="100%">
                    <tr>
                      <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="18" nowrap valign="bottom">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Audited</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr>
                      <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="18" nowrap valign="bottom">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(IN
      THOUSANDS OF U.S. DOLLARS, EXCEPT PER SHARE DATA)</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr>
                      <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td align="left" valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" colspan="2" nowrap valign="bottom">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2004</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" colspan="2" nowrap valign="bottom">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2005</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" colspan="2" nowrap valign="bottom">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2006</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" colspan="2" nowrap valign="bottom">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" colspan="2" nowrap valign="bottom">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">SUMMARY
      OF STATEMENT OF OPERATIONS:</font></div>
                      </td>
                      <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Revenues</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7,344</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8,462</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8,941</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(*)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13,314</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(*)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20,653</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cost
      of Revenues</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,730</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,293</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,494</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,600</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8,452</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 2px">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Inventory
      write-off</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">&#8212;</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">287</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">&#8212;</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">&#8212;</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">&#8212;</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 2px">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Gross
      Profit</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">3,614</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">3,882</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">5,447</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">7,714</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">12,201</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating
      Expenses:</font></div>
                      </td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Research
      and Development</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">845</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,182</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,362</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,716</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,571</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Selling
      and Marketing</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,445</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,003</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,619</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9,041</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11,924</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">General
      and Administrative</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,955</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,968</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,737</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,192</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,299</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Restructuring
      expenses</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">496</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Impairment
      loss</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,235</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 2px">
                        <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Litigation
      settlement expenses</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">&#8212;</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">129</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">108</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">34</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">8</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      Operating Expenses</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,245</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7,778</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9,826</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13,983</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">21,037</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 2px">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Capital
      gain from the sale of the E-ID Division</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">&#8212;</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">&#8212;</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">10,536</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">&#8212;</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating
      Income&#160;&#160;(Loss)</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1,631</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3,896</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6,157</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(6,269</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(8,836</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Financial
      Income (Expenses), Net</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(214</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(25</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(204</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(4,652</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3,113</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 2px">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">OTHER
      INCOME (EXPENSES), NET</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">(27</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">(30</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">(367</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">&#8212;</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">&#8212;</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income
      Loss before Taxes on Income</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1,872</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3,951</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,586</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(10,921</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(11,949</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td valign="bottom" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 2px">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Taxes
      on income</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">&#8212;</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">&#8212;</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">(146</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)(*)</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">(390</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)(*)</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">(137</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 4px">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      Income (Loss) from continuing </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">operations</font></div>
                        </div>
                      </td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">(1,872</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">(3,951</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">5,440</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">(11,311</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">(12,086</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td valign="bottom" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 2px">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Loss
      from discontinued operations</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">272</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 4px">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      income (loss)</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">(1,872</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">(3,951</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">5,440</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">(11,311</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">(12,358</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">PER
      SHARE DATA:</font></div>
                      </td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Basic
      earning (loss) from continuing operations</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.75</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.25</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.37</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.57</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.34</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Diluted
      earning (loss) from continuing operations</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.75</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.25</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.31</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.57</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.34</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Basic
      and Diluted loss from discontinued operations</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.05</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Basic
      earning (loss) per share</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.75</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.25</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.37</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.57</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.39</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Diluted
      earning (loss) per share</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.75</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.25</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.31</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.57</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.39</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">SUMMARY
      OF BALANCE SHEET DATA:</font></div>
                      </td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cash
      and Cash Equivalents</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,894</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,294</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,444</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,114</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">812</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Short
      term deposit</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">353</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Marketable
      debt securities</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">650</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11,077</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,054</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Trade
      receivables (net of allowance for doubtful&#160;&#160;accounts of $ 3,500
      and $ 3,478 as of&#160;&#160;December 31, 2007 and 2008,
      respectively)</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,463</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,053</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,625</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,463</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">840</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Inventories</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,165</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,205</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">270</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">566</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,307</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      Current Assets</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9,254</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8,023</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17,992</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14,769</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6,443</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">TOTAL
      ASSETS</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13,938</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12,276</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">23,098</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20,952</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8,935</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      Current Liabilities</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,259</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,218</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,452</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8,916</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10,424</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accrued
      Severance Pay</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">564</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">616</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">323</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">362</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">378</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">SHAREHOLDERS&#8217;
      EQUITY/DEFICIT:</font></div>
                      </td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="left" valign="bottom" width="40%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">TOTAL
      SHAREHOLDERS' EQUITY/DEFICIT</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9,115</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8,247</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15,001</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9,233</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1,867</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    </tr>
                </table>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;(*)
Certain comparative figures have been reclassified to conform to the current
period presentation. The changes were not material and did not affect net
income, cash flow or stockholders equity.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 9pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">B.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Capitalization
      and Indebtedness</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
applicable.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 9pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">C.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Reasons
      for the Offer and Use of
Proceeds</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
applicable.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 9pt">
              <div>&#160;</div>
            </td>
            <td align="right" style="WIDTH: 27pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">D.&#160;</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Risk
      Factors</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">You
should carefully consider the following risks together with the other
information in this Annual Report in evaluating our business, financial
condition and prospects. The risks and uncertainties described below are not the
only ones that we face. Additional risks and uncertainties not presently known
to us or that we consider immaterial may also impair our business operations,
financial results and prospects. If any of the following risks actually occur,
our business, financial results and prospects could be harmed. In that case, the
trading price of our ordinary shares could decline. You should also refer to the
other information set forth in this Annual Report, including our financial
statements and related notes and the Section captioned &#8220;Note Regarding
Forward-Looking Statements.&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
have a history of operating losses and negative cash flows and may not be
profitable in the future.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have
incurred substantial losses and negative cash flows since our inception. We had
an operating cash flow deficit in each of 2005, 2006, 2007 and 2008. As of
December 31, 2008, we had an accumulated deficit of approximately $42,294,000.
We incurred net losses of approximately $11,311,000 and $12,358,000 in the years
ended December 31, 2007 and 2008, respectively. For the year ended December 31,
2006, we would have incurred a net loss of $5,096,000, but for the $10,536,000
capital gain from the sale of the E-ID Division. We expect to spend significant
amounts of capital to enhance our products and services, develop further sales
and operations and fund expansion; and therefore, we may continue to have net
operating losses and negative cash flows for the foreseeable future. As a
result, we will need to generate significant revenue to achieve profitability.
Even if we do achieve profitability, we may not be able to sustain or increase
profitability on a quarterly or annual basis<font style="DISPLAY: inline; FONT-SIZE: 10pt">.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Parts of
our operating expense levels are based on internal forecasts for future demand
and not on firm customer orders for products or services. Our results may be
negatively affected by fluctuating demand for our products and services from one
quarter to the next and by increases in the costs of components and raw
materials acquired from suppliers.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
will face a need for additional capital and may need to curtail our operations
if it is not available.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have
partially funded our operations through the issuance of equity securities and
convertible bonds to investors and may not be able to generate a positive cash
flow from operations in the future. Continuation of our current operations after
utilizing our current cash reserves is dependent upon the generation of
additional financial resources either through the issuance of additional equity
or debt securities or other sources of financing or the sale of certain assets
of the Company. These matters raise substantial doubt about our ability to
continue as a going concern. The financial statements have been prepared
assuming that we will continue as a going concern. The financial statements do
not include any adjustments that might result from the outcome of this
uncertainty. Any additional financings will likely cause substantial dilution to
existing stockholders. If we are unable to obtain necessary additional
financing, we may be required to reduce the scope of, or cease, our operations.
Even if we raise such additional capital, we may be required to reduce the scope
of our operations and may need to implement certain operational changes in order
to decrease our expenditure level. Our need for additional capital to finance
our operations and growth will be greater should, among other things, our
revenue or expense estimates prove to be incorrect.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">The current economic and financial
crisis may have a material adverse effect on our
results.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
crisis of the financial and credit markets worldwide in the second half of 2008
has led to an economic slowdown worldwide, and the outlook for 2009 is
uncertain. A continuation or worsening of unfavorable economic conditions,
including the on-going credit and capital markets disruptions, could have an
adverse impact on our business, operating results or financial condition in a
number of ways. We may experience declines in revenues, profitability and cash
flows as a result of reduced orders, delays in receiving orders or in the
completion of projects, delays or defaults in payment or other factors caused by
the economic problems of our customers and prospective customers. We may
experience supply chain delays, disruptions or other problems associated with
financial constraints faced by our suppliers and subcontractors. In addition,
changes and volatility in the equity, credit and foreign exchange markets and in
the competitive landscape make it increasingly difficult for us to predict our
revenues and earnings into the future. Currently, we lack of short-term
visibility as customers are focused on maintaining flexibility, reducing
inventory and conserving their cash.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Adverse capital and credit market
conditions may impact our ability to access liquidity and
capital</font>.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
capital and credit markets have been experiencing extreme volatility and
disruption for more than eighteen months. In the second half of 2008, the
volatility and disruption reached unprecedented levels.&#160;&#160;We need
liquidity in our day-to-day business activities to pay our operating expenses
and interest on our debt.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In the
event current resources do not satisfy our needs, we may have to seek additional
financing. The availability of additional financing will depend on a variety of
factors such as market conditions, the general availability of credit, the
volume of trading activities, the overall availability of credit to the
financial services industry, our credit ratings and credit capacity, as well as
the possibility that customers or lenders could develop a negative perception of
our long- or short-term financial prospects.. If our internal sources of
liquidity prove to be insufficient, there is a risk that external funding
sources might not be available or available at unfavorable terms.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Disruptions,
uncertainty or volatility in the capital and credit markets may also limit our
access to capital required to operate our business. Such market conditions may
limit our ability to raise additional capital to support business
growth.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
would have the potential to decrease both our profitability and our financial
flexibility. Our results of operations, financial condition, cash flows and
regulatory capital position could be materially adversely affected by
disruptions in the financial markets.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Depending on the impact on our
business of the current economic crisis, we may face problems in managing any
decline in our business</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If the
current economic and financial crisis continues to have an adverse impact on the
demand for products or their profitability, we may face difficulties in managing
a decline in our business. Our success in handling a contraction of our business
will depend on our ability, among other things, to:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 27pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Wingdings 2, serif">&#8212;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">develop efficient forecast
      methods for evaluating the prospective quantity of products that will be
      ordered by our customers;</font></font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 27pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Wingdings 2, serif">&#8212;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">control inventories of components
      ordered by our contract manufacturers required to meet actual demand,
      including but not limited to handling the effects of excess inventories
      accumulated by such
manufacturers;</font></font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 27pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Wingdings 2, serif">&#8212;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">reduce the costs of manufacturing
      our products;</font></font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 27pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Wingdings 2, serif">&#8212;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">continue to collect receivables
      from our customers in full and in a timely manner;
    and</font></font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 27pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Wingdings 2, serif">&#8212;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">properly balance the size and
      capabilities of our
workforce.</font></font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If we are
unable to manage a decline in business, we could fail to manage the costs
associated with all aspects of our business, which would have a material adverse
effect on our business and results of operations.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">There is a material weakness in our
internal control over financial reporting and we may not be able to remedy this
material weakness or prevent future material weaknesses. If we fail to do
so</font> <font style="DISPLAY: inline; FONT-WEIGHT: bold">there is a reasonable
possibility that a material misstatement of the annual or interim financial
statements will not be prevented or detected on a timely basis</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">.</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
material weakness in our internal control over financial reporting as identified
by our management as of December&#160;31, 2008 is summarized below.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
improper segregation of duties in our finance department has not reduced to an
acceptable low level the risk that material errors may occur and may not be
detected on a timely basis by management in the normal course of
business.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notwithstanding
the steps we have taken and continue to take that are designed to remediate the
material weakness identified above, we may not be successful in remediating this
material weakness in the near or long term and we may not be able to prevent
other material weaknesses in the future. Any failure to maintain or implement
required new or improved internal control over financial reporting, or any
difficulties we encounter in their implementation, could result in additional
significant deficiencies or additional material weaknesses or result in material
misstatements in our financial statements. Any such failure could also adversely
affect the results of periodic management evaluations and annual auditor
attestations regarding the effectiveness of our internal control over financial
reporting required under Section&#160;404 of the Sarbanes-Oxley Act of
2002.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
existence of a material weakness could result in errors in our financial
statements that could result in a restatement of financial statements, cause us
to miss our reporting deadlines and cause investors to lose confidence in our
reported financial information, leading to a decline in the price of our shares.
See &#8220;Item 15, Controls and Procedures&#8221; for additional information.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
may face a reduction in our revenues from our perimeter security and border
control projects associated with the European Airport Project.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
revenues from our European International Airport Project for the years ended
December 31, 2007 and 2008 were $2,182,000 and $9,722,000,
respectively.&#160;&#160;The revenues received from the European Airport Project
are almost fully recognized through December 31, 2008, and we expect that
approximately $1,896,000 will be recognized in 2009. Unless we have significant
growth in our active RFID, Passive RFID (EAC) CSMS and RAPTOR business lines, we
may face reduction in our revenues.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
derive a substantial portion of our revenue from a small number of customers,
and the reduction of sales to any one of those customers could adversely impact
our operating results by causing a drop in revenues.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We depend
on a limited number of customers for a substantial portion of our revenue. In
the years 2006, 2007 and 2008, we derived 80%, 79% and 77% respectively, of our
consolidated net revenue from four individual customers. In the year ended
December 31, 2008, four of our customers accounted for 77% of our consolidated
net revenues as follows: the government of a European country, European
International Airport, Racine and the Israel government accounted for 47%, 26%,
2% and 1%, respectively, of our consolidated net revenues. A substantial
reduction in sales to, or loss of, any of our significant customers would
adversely affect our business unless we were able to replace the revenue we
received from those customers, which replacement we may not be able to find.
Specifically, changes that may negatively impact the political or economic
stability and environment of the European country, from which we derive 26% of
our consolidated net revenues under a 10-year contract, could adversely affect
our business and future operations in such country.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As a
result of this concentration of revenue from a limited number of customers, our
revenue has experienced wide fluctuations, and we may continue to experience
wide fluctuations in the future. Part of our sales is not recurring sales,
therefore quarterly and annual sales levels could fluctuate. Sales in any period
may not be indicative of sales in future periods.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
are relying on On Track Innovations Ltd. as a subcontractor in projects not
transferred as part of the sale of our E-ID Division.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
December 31, 2006, we sold our E-ID Division to On Track Innovations Ltd.
(&#8220;OTI&#8221;), an Israeli public company (NASDAQ: OTIV). Simultaneously, we entered
into a service and supply agreement with OTI under which OTI agreed to act as
our subcontractor and provide services, products and materials necessary to
carry out and complete our obligations with regard to certain projects that were
not transferred to OTI (the &#8220;Existing Projects&#8221;) (see description of this
transaction under the caption &#8220;The OTI Transaction&#8221; in Item 4.A).<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>We will be dependent on
OTI to adequately provide such services, products, and materials in order for us
to be in good standing under, and successfully complete, these projects. If OTI
fails to fulfill its obligations and provide such services and products as
necessary for the Existing Projects, it could delay our receipt of revenues for
these projects, subject us to certain remedies available to our customers in the
Existing Projects, and damage our business reputation, and therefore could have
a material adverse effect on our business, operating results and financial
condition.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Our reliance on third party
technologies, raw materials and components for the development of some of our
products and our reliance on third parties for manufacturing may delay product
launches, impair our ability to develop and deliver products or hurt our ability
to compete in the market</font>.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Most of
our products integrate third-party technology that we license and/or raw
materials and components that we purchase or otherwise obtain the right to use,
including: operating systems, microchips, security and cryptography technology
for card operating systems, which prevents unauthorized parties from tampering
with our cards, and dual interface technology, which enables cards to operate in
both contact and contactless mode. Our ability to purchase and license new
technologies and components from third parties is and will continue to be
critical to our ability to offer a complete line of products that meets customer
needs and technological requirements. We may not be able to renew our existing
licenses or to purchase components and raw materials on favorable terms, if at
all. If we lose the rights to a patented technology, we may need to stop selling
or may need to redesign our products that incorporate that technology, and we
may lose the potential competitive advantage such technology gave us. In
addition, competitors could obtain licenses for technologies for which we are
unable to obtain licenses, and third parties may develop or enable others to
develop a similar solution to security issues, either of which could adversely
affect our results of operations. Also, dependence on the patent protection of
third parties may not afford us any control over the protection of the
technologies upon which we rely. If the patent protection of any of these third
parties were compromised, our ability to compete in the market could also be
impaired.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
usually do not have minimum supply commitments from our vendors for our raw
materials or components and generally purchase raw materials<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>and components on a
purchase order basis. Although we generally use standard raw materials and
components for our systems, some of the key raw materials or components are
available only from a single source or from limited sources. Many of our
products are only available from limited sources. Even where multiple sources
are available, we typically obtain components and raw materials from only one
vendor to ensure high quality, prompt delivery and low cost. If one of our
suppliers were unable to meet our supply demands and we could not quickly
replace the source of supply, it could have a material adverse effect on our
business, operating results and financial condition, for reasons including a
delay of receipt of revenues and damage to our business reputation.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Delays
in deliveries from our suppliers, defects in goods or components supplied by our
vendors, or delays in projects that are performed by our subcontractors could
cause our revenues and gross margins to decline.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We rely
on a limited number of vendors and subcontractors for certain components of the
products we are supplying and projects we perform. In some cases, we rely on a
single source vendor or subcontractor. Any undetected flaws in components or
other materials to be supplied by our vendors could lead to unanticipated costs
to repair or replace these parts or materials. Even though there are multiple
suppliers, we purchase some of our components from single suppliers to take
advantage of volume discounts, which presents a risk that the components may not
be available in the future on commercially reasonable terms, or at all. Although
we believe that there are additional suppliers for the equipment and supplies
that we require, we may not be able to make such alternative arrangements
promptly. If one of our suppliers were unable to meet our supply demands and we
could not quickly replace the source of supply, it could cause a delay of
receipt of revenues and damage our business reputation. We depend on
subcontractors to adequately perform a substantial part of our projects. If a
subcontractor fails to fulfill its obligations under a certain project, it could
delay our receipt of revenues for such project and damage our business
reputation, and therefore could have a material adverse effect on our business,
operating results and financial condition.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
have entered into an agreement to acquire all of the issued and outstanding
stock capital of Security Holding Corporation. Certain unexpected outcomes of
this acquisition are not yet known and there is still no assurance that the
business combination will result in all of the benefits that we
anticipated.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In July
2007, we entered into an agreement to acquire all of the issued and outstanding
stock capital of Security Holding Corp. (&#8220;SHC&#8221;).&#160;&#160;The main reason
behind the acquisition of SHC<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>is our belief that the
combined company would be better positioned to offer competitive RFID security
solutions to existing and prospective customers.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 0.55pt"></font>Prior to completion of the
acquisition, we conducted a due diligence review of SHC; however, we cannot
guarantee that all contingent liabilities were brought to our knowledge. A
material liability that had not been discovered in the due diligence process, or
since, might affect our business.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
addition, this acquisition resulted in the recording of amounts related to
goodwill and certain purchased intangible assets, that may result in additional
impairment charges arising out of the write-off of such goodwill and intangible
assets, which could negatively impact our business, financial condition and
results of operations, and cause the price of our ordinary shares to decline.
During 2008, we had to record goodwill impairment charges in the amount of
$3,235,000.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
have entered into an agreement to acquire substantially all of the assets and
liabilities of Intelli-Site, Inc. Certain unexpected outcomes of this
acquisition are not yet known and there is still no assurance that the business
combination will result in all of the benefits that we anticipated.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>In March 2009, we entered into an
agreement to acquire substantially all of the assets and liabilities of
Intelli-Site, Inc (&#8220;Intelli-Site&#8221;).&#160;&#160;The main reason behind the
acquisition of Intelli-Site<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>is our belief that the
combined company will be better positioned to offer competitive RFID security
solutions to existing and prospective customers. It is not yet clear whether all
of the expected benefits of this business combination will be
achieved.&#160;&#160;We believe that the following are among the factors that
may affect whether such benefits will indeed be achieved, and when such results
will be known:</font></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">our
      ability to maintain and increase the sale of Intelli-Site
      products;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">our
      ability to combine the operating activities of Intelli-Site with those of
      our U.S. subsidiary, Vuance, Inc.;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <div align="center">
      </div>
    </div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">our
      ability to sell our products to Intelli-Site&#8217;s existing customers;
      and</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">our
      ability to maintain key employees of
  Intelli-Site;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Prior to
completion of the acquisition, we conducted a due diligence review of
Intelli-Site; however, we cannot guarantee that all contingent liabilities were
brought to our knowledge. A material liability that had not been discovered in
the due diligence process might affect our business.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
addition, this acquisition may result in the recording and later amortization of
amounts related to goodwill and certain purchased intangible assets, or later
impairment charges arising out of the write-off of such goodwill and intangible
assets, which could negatively impact our business, financial condition and
results of operations, and cause the price of our ordinary shares to
decline.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
may pursue acquisitions or investments in complementary technologies and
businesses. We may be unsuccessful in integrating the acquired businesses and/or
assets of SHC and other complementary technologies and businesses, the
acquisition of which we may pursue in the future, and such integrations could
divert our resources and adversely affect our financial results.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Before the acquisition of SHC, we have
not made any other acquisitions and our management has not had significant
experience making acquisitions or integrating acquired businesses. Integrating
the newly acquired business or technologies into our business could divert our
management&#8217;s attention from other business concerns and could be expensive and
time-consuming. Acquisitions, such as our agreement to acquire the issued and
outstanding stock capital of SHC, could expose our business to unforeseen
liabilities or risks associated with entering new markets. Consequently, we
might not be successful in integrating the acquired businesses, technologies or
products into our existing business and products, and might not achieve
anticipated revenue or cost benefits. In the future, we may pursue acquisitions
of, or investments in, additional complementary technologies and businesses. We
may be unable to identify suitable acquisition candidates in the future or to
make these acquisitions on a commercially reasonable basis, or at all.
Acquisitions present a number of potential risks and challenges that could, if
not met, disrupt our business operations, increase our operating costs and
reduce the value to us of the acquired company. For example, if we identify an
acquisition candidate, we may not be able to successfully negotiate or finance
the acquisition on favorable terms. In addition, future acquisitions could
result in customer dissatisfaction, performance problems with an acquired
company, or require us to issue equity securities, incur debt, assume contingent
liabilities or have amortization expenses and write-downs of acquired assets,
which could adversely affect our profitability.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
dependence on third-party distributors, sales agents and value-added resellers
could result in marketing and distribution delays, which would prevent us from
generating sales revenues.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We market
and sell some of our products using a network of distributors covering the
United States. We establish relationships with distributors and resellers
through agreements that provide prices, discounts and other material terms and
conditions under which the reseller is eligible to purchase our systems and
products for resale. These agreements generally do not grant exclusivity to the
distributors and resellers and, as a general matter, are not long-term
contracts, do not have commitments for minimum sales, and could be terminated by
the distributor. We do not have agreements with all of our distributors. We are
currently engaged in discussions with other potential distributors, sales
agents, and value-added resellers. Such arrangements may never be finalized and,
if finalized, such arrangements may not increase our revenues or enable us to
achieve profitability.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
ability to terminate a distributor who is not performing satisfactorily may be
limited. Inadequate performance by a distributor could adversely affect our
ability to develop markets in the regions for which the distributor is
responsible and could result in substantially greater expenditures by us in
order to develop such markets. Our operating results will be highly dependent
upon: (i) our ability to maintain our existing distributor arrangements; (ii)
our ability to establish and maintain coverage of major geographic areas and
establish access to customers and markets; and (iii) the ability of our
distributors, sales agents, and value-added resellers to successfully market our
products. A failure to achieve these objectives could result in lower
revenues.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Third
parties could obtain access to our proprietary information or could
independently develop similar technologies.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Despite
the precautions we take, third parties may copy or obtain and use our
technologies, ideas, know-how and other proprietary information without
authorization or may independently develop technologies similar or superior to
our technologies. In addition, the confidentiality and non-competition
agreements between us and most of our employees, distributors and clients may
not provide meaningful protection of our proprietary technologies or other
intellectual property in the event of unauthorized use or disclosure. If we are
not able to successfully defend our industrial or intellectual property rights,
we may lose rights to technologies that we need to develop our business, which
may cause us to lose potential revenues, or we may be required to pay
significant license fees for the use of such technologies. To date, we have
relied primarily on a combination of patent, trade secret and copyright laws, as
well as nondisclosure and other contractual restrictions on copying, reverse
engineering and distribution to protect our proprietary technology. Our patent
portfolio currently consists of two issued U.S. patents, four U.S. patent
applications and one PCT. Generally, these patents, applications and PCTs relate
to our government solutions and access control technologies.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;Our
patent applications may not result in issued patents, and even if they result in
issued patents, the patents may not have claims of the scope we seek. Even in
the event that these patents are not issued, the applications may become
publicly available and proprietary information disclosed in the applications
will become available to others.&#160;&#160;In addition, any issued patents may
be challenged, invalidated or declared unenforceable. Our present and future
patents may provide only limited protection for our technology and may not be
sufficient to provide competitive advantages to us. For example, competitors
could be successful in challenging any issued patents or, alternatively, could
develop similar or more advantageous technologies on their own or design around
our patents. Any inability to protect intellectual property rights in our
technology could enable third parties to compete more effectively with us and/or
could reduce our ability to compete. In addition, these efforts to protect our
intellectual property rights could require us to incur substantial costs even
when our efforts are successful.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
addition, the laws of certain foreign countries may not protect our intellectual
property rights to the same extent as do the laws of Israel or the United
States. Our means of protecting our intellectual property rights in Israel, the
United States or any other country in which we operate may not be adequate to
fully protect our intellectual property rights. For instance, the intellectual
property rights of our Asian subsidiary, SuperCom Asia Pacific Ltd., may not be
fully protected by the laws of Hong Kong and the People&#8217;s Republic of China
(&#8220;PRC&#8221;). The PRC does not yet possess a comprehensive body of intellectual
property laws. As a result, the enforcement, interpretation and implementation
of existing laws, regulations or agreements may be sporadic, inconsistent and
subject to considerable discretion. The PRC&#8217;s judiciary has not had sufficient
opportunity to gain experience in enforcing laws that exist, leading to a higher
than usual degree of uncertainty as to the outcome of any litigation. As the
legal system develops, entities such as ours may be adversely affected by new
laws, changes to existing laws (or interpretations thereof) and preemption of
provincial or local laws by national laws. Even when adequate law exists in the
PRC, it may not be possible to obtain speedy and equitable enforcement of the
law.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Third
parties may assert that we are infringing their intellectual property
rights.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>We may face intellectual property
litigation, which could be costly, harm our reputation, limit our ability to
sell our products, force us to modify our products or obtain appropriate
licenses, and divert the attention of management and technical
personnel.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
products employ technology that may infringe on the proprietary rights of
others, and, as a result, we could become liable for significant damages and
suffer other harm to our business. Other than the ongoing litigation with
Secu-Systems Ltd., as described in Item 8 below under the caption &#8220;Legal
Proceedings,&#8221; we have not been subject to intellectual property litigation to
date. On August 8, 2003, we received a letter stating that we may be infringing
certain patents of third parties with respect to our hot lamination process for
plastic cards. We reviewed the claims made in the letter and we do not believe
that our products or technology infringe any third party's patents as claimed in
the letter. Since the initial letter, we received another letter dated July 13,
2004 from the same party requesting that we respond to their claim and stating
that attractive licenses are available. On August 11, 2004, we responded to this
letter and indicated that we were not infringing upon such parties&#8217; patents. To
date, no infringement claims have been filed against us in connection with the
foregoing letters. We believe that hot lamination of plastic cards is a widely
known process that is used by most card manufacturers. Even if it were
determined that we are infringing such third party&#8217;s patents, we believe that we
could use another process to laminate plastic cards without materially affecting
our business. On December 2, 2005, we received a letter stating that we may be
infringing certain patents of third parties with respect to our Smart DSMS
product for incident response management. We reviewed the claims made in the
letter and we do not believe that our products or technology infringe any third
party's patents as claimed in the letter. On February 21, 2006, after thorough
investigation that included legal counseling, we responded to the letter while
declining the claims in the letter. Since the initial letter, we received
another letter dated August 1, 2007 from the same party stating that "at least
on the surface" it appears that we are infringing one of their patents based on
a line written in our website. On September 6, 2007, we responded to this letter
and indicated that we were not infringing upon such party&#8217;s patents. To date, no
infringement claims have been filed against us in connection with the foregoing
letters. We believe that the Smart DSMS product lacks key features recited in
each of the claims mentioned because the product does not perform steps of
assigning and recording as recited in the party's patent.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Litigation
may be necessary in the future to enforce any patents we may obtain and/or any
other intellectual property rights, to protect our trade secrets, to determine
the validity and scope of the proprietary rights of others, or to defend against
claims of infringement or invalidity, and we may not prevail in any such future
litigation. Litigation, whether or not determined in our favor or settled, could
be costly, could harm our reputation and could divert the efforts and attention
of our management and technical personnel from normal business operations. In
addition, adverse determinations in litigation could result in the loss of our
proprietary rights, subject us to significant liabilities, require us to seek
licenses from third parties, prevent us from licensing our technology or selling
or manufacturing our products, or require us to expend significant resources to
modify our products or attempt to develop non-infringing technology, any of
which could seriously harm our business.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
products may contain technology provided to us by third parties. Because we did
not develop such technology ourselves, we may have little or no ability to
determine in advance whether such technology infringes the intellectual property
rights of any other party. Our suppliers and licensors may not be required to
indemnify us in the event that a claim of infringement is asserted against us,
or they may be required to indemnify us only with respect to intellectual
property infringement claims in certain jurisdictions, and/or only up to a
maximum amount, above which we would be responsible for any further costs or
damages. In addition, we have indemnification obligations to certain customers,
as well as to OTI with respect to any infringement of third-party patents and
intellectual property rights by our products. If litigation were to be filed
against these parties in connection with our technology, we would be required to
defend and indemnify such customers.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
may be plaintiff or defendant in various legal actions from time to
time.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">From time
to time, we are the defendant or plaintiff in various legal actions, which arise
in the normal course of business. We are required to assess the likelihood of
any adverse judgments or outcomes to these matters as well as potential ranges
of probable losses. A determination of the amount of reserves required for these
contingencies, if any, which would be charged to earnings, is made after careful
and considered analysis of each individual action with our legal advisors. The
required reserves may change in the future due to new developments in each
matter or changes in circumstances, such as a change in settlement strategy. A
change in the required reserves would affect our earnings in the period the
change is made.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A
security breach of our internal systems or those of our customers could harm our
business by adversely affecting the market's perception of our products and
services, thereby causing our revenues to decline.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For us to
further penetrate the marketplace, the marketplace must be confident that we
provide effective security protection for national and other secured
identification documents and cards. Although we have not experienced any act of
sabotage or unauthorized access by a third party of our software or technology
to date, if an actual or perceived breach of security occurs in our internal
systems or those of our customers, regardless of whether we caused the breach,
it could adversely affect the market's perception of our products and services.
This could cause us to lose customers, resellers, alliance partners or other
business partners, thereby causing our revenues to decline. If we or our
customers were to experience a breach of our internal systems, our business
could be severely harmed by adversely affecting the market's perception of our
products and services.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
may be exposed to significant liability for actual or perceived failure to
provide required products or services which could damage our reputation and
adversely affect our business by causing our revenues to decline and our costs
to rise.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Products
as complex as those we offer may contain undetected errors or may fail when
first introduced or when new versions are released. Despite our product testing
efforts and testing by current and potential customers, it is possible that
errors will be found in new products or enhancements after commencement of
commercial shipments. The occurrence of product defects or errors could result
in adverse publicity, delay in product introduction, diversion of resources to
remedy defects, loss of or a delay in market acceptance, or claims by customers
against us, or could cause us to incur additional costs or lose revenues, any of
which could adversely affect our business.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Because
our customers rely on our products for critical security applications, we may be
exposed to claims for damages allegedly caused to a customer as a result of an
actual or perceived failure of our products. An actual or perceived breach of
security systems of one of our customers, regardless of whether the breach is
attributable to our products or solutions, could adversely affect our business
reputation. Furthermore, our failure or inability to meet a customer's
expectations in the performance of our services, or to do so in the time frame
required by the customer, regardless of our responsibility for the failure,
could result in a claim for substantial damages against us by the customer,
discourage other customers from engaging us for these services, and damage our
business reputation. We carry product liability insurance, but existing coverage
may not be adequate to cover potential claims.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We carry
a combined products liability and professional liability insurance. We believe
that this insurance coverage is comparable to that of other similar companies in
our industry. However, that insurance may not continue to be available to us on
reasonable terms or in sufficient amounts to cover one or more large claims, or
the insurer may disclaim coverage as to any future claim. We do not maintain
insurance coverage for theft by employees, nor do we maintain specific insurance
coverage for any interruptions in our business operations. The successful
assertion of one or more large claims against us that exceed available insurance
coverage, or changes in our insurance policies, including premium increases or
the imposition of large deductibles or co-insurance requirements, could
adversely affect our business by significantly increasing our
costs.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
efforts to expand our international operations are subject to a number of risks,
any of which could adversely reduce our future international sales and increase
our losses.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Most of
our revenues to date have been generated in jurisdictions other than the United
States. Our inability to obtain or maintain federal or foreign regulatory
approvals relating to the import or export of our products on a timely basis
could adversely affect our ability to expand our international business.
Additionally, our international operations could be subject to a number of
risks, any of which could adversely affect our future international sales and
operating results, including:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
            </td>
            <td align="right" style="WIDTH: 18pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">increased
      collection risks;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
            </td>
            <td align="right" style="WIDTH: 18pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">trade
      restrictions;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
            </td>
            <td align="right" style="WIDTH: 18pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">export
      duties and tariffs;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
            </td>
            <td align="right" style="WIDTH: 18pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">uncertain
      political, regulatory and economic
developments;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
            </td>
            <td align="right" style="WIDTH: 18pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">inability
      to protect our intellectual property
rights;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
            </td>
            <td align="right" style="WIDTH: 18pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">highly
      aggressive competitors;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
            </td>
            <td align="right" style="WIDTH: 18pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">lower
      gross margins in commercial sales in Hong Kong and
  China;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 36pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">business
      development issues in Hong Kong and China, where business development is
      time consuming and risky due to the uncertain political, regulatory and
      legal environment;</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
                    <tr valign="top">
                      <td style="WIDTH: 36pt">
                      </td>
                      <td align="right" valign="middle" style="WIDTH: 18pt">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-FAMILY: symbol, serif">&#183;</font></font></div>
                      </td>
                      <td align="left" valign="middle">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">if
      we do not generate additional sales from the expansion, our losses may
      increase;
and</font></div>
                      </td>
                    </tr>
                </table>
              </div>
            </div>
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
              <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
                  <tr valign="top">
                    <td style="WIDTH: 36pt">
                    </td>
                    <td align="right" valign="top" style="WIDTH: 18pt">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-FAMILY: symbol, serif">&#183;</font></font></div>
                    </td>
                    <td align="left" valign="top">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">currency
      issues.</font></div>
                    </td>
                  </tr>
              </table>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
addition, in many countries the national security organizations require our
employees to obtain clearance before such employees can work on a particular
transaction. Failure to receive, or delays in the receipt of, relevant foreign
qualifications could also have a material adverse effect on our ability to
obtain sales at all or on a timely basis. Additionally, as foreign government
regulators have become increasingly stringent, we may be subject to more
rigorous regulation by governmental authorities in the future. If we fail to
adequately address any of these regulations, our business will be
harmed.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
have sought in the past and may seek in the future to enter into contracts with
the U.S. government as well as state and local governmental agencies and
municipalities, which subjects us to certain risks associated with such types of
contracts.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Most
contracts with the U.S. government or state or local agencies or municipalities
(&#8220;Governmental Contracts&#8221;) are awarded through a competitive bidding process,
and some of the business that we expect to seek in the future will likely be
subject to a competitive bidding process. Competitive bidding presents a number
of risks, including:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      frequent need to compete against companies or teams of companies with more
      financial and marketing resources and more experience than we have in
      bidding on and performing major
contracts;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      need to compete against companies or teams of companies that may be
      long-term, entrenched incumbents for a particular contract we are
      competing for and which have, as a result, greater domain expertise and
      established customer relations;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      substantial cost and managerial time and effort necessary to prepare bids
      and proposals for contracts that may not be awarded to
  us;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      need to accurately estimate the resources and cost structure that will be
      required to service any fixed-price contract that we are awarded;<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>and</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      expense and delay that may arise if our competitors protest or challenge
      new contract awards made to us pursuant to competitive bidding or
      subsequent contract modifications, and the risk that any of these protests
      or challenges could result in the resubmission of bids on modified
      specifications, or in termination, reduction or modification of the
      awarded contract.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We may
not be afforded the opportunity in the future to bid on contracts that are held
by other companies, and are scheduled to expire, if the U.S. government or the
applicable state or local agency or municipality determines to extend the
existing contract. If we are unable to win particular contracts that are awarded
through the competitive bidding process, we may not be able to operate in the
market for the products and services that are provided under those contracts for
a number of years. If we are unable to win new contract awards or retain those
contracts, if any, that we are awarded over any extended period, our business,
prospects, financial condition and results of operations will be adversely
affected.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
addition, Governmental Contracts subject us to risks associated with public
budgetary restrictions and uncertainties, actual contracts that are less than
awarded contract amounts, and cancellation at any time at the option of the
governmental agency. Any failure to comply with the terms of any Governmental
Contracts could result in substantial civil and criminal fines and penalties, as
well as suspension from future contracts for a significant period of time, any
of which could adversely affect our business by requiring us to pay significant
fines and penalties or prevent us from earning revenues from Governmental
Contracts during the suspension period. Cancellation of any one of our major
Governmental Contracts could have a material adverse effect on our financial
condition.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The U.S.
government may be in a position to obtain greater rights with respect to our
intellectual property than we would grant to other entities. Governmental
agencies also have the power, based on financial difficulties or investigations
of their contractors, to deem contractors unsuitable for new contract awards.
Because we will engage in the government contracting business, we will be
subject to audits, and may be subject to investigation, by governmental
entities. Failure to comply with the terms of any Governmental Contracts could
result in substantial civil and criminal fines and penalties, as well as
suspension from future contracts for a significant period of time, any of which
could adversely affect our business by requiring us to pay the fines and
penalties and prohibiting us from earning revenues from Governmental Contracts
during the suspension period.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Furthermore,
governmental programs can experience delays or cancellation of funding, which
can be unpredictable. For example, the U.S. military&#8217;s involvement in Iraq has
caused the diversion of some Department of Defense funding away from certain
projects in which we participate, thereby delaying orders under certain of our
governmental contracts. This makes it difficult to forecast our revenues on a
quarter-by-quarter basis.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
markets that we target for a substantial part of our future growth are in very
early stages of development, and if they do not develop our business may not
grow as much or as profitably as we hope.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Many of the markets that we target for
our future growth are small or non-existent and need to develop if we are to
achieve our growth objectives. If some or all of these markets do not develop,
or if they develop more slowly than we anticipate, then we will not grow as
quickly or as profitably as we hope. In February 2006, we announced the
introduction of a new technology and solution for actively tracking people,
objects and assets, Active RFID Tracking Systems (&#8220;PureRF&#8221;). This new
technology, which expanded our homeland security offerings, was developed in
response to growing market demand for asset tracking solutions in the homeland
security and commercial markets. While the incident management and homeland
security benefits provided by PureRF are relatively obvious, we have also
identified other market opportunities in the public and private sectors of the
economy.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Our Credentialing suite has not been
widely adopted by state and local governments, largely due to the dependency on
federal grants, the cost of the necessary infrastructure and the relatively
limited capabilities of previous solutions. We are investing in credentialing,
identification, active RFID and security networks products and services, but so
far we have not deployed our systems on a widespread basis, other than to meet a
growing demand from our existing customer base.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>In 2008, our revenues from the
government market totaled approximately $15,873,000 compared to $4,780,000 from
the commercial market. Although we believe the government market is critical to
our success in the short term, we believe that both the government and
commercial markets will be critical to our long-term success. The development of
these markets will depend on many factors that are beyond our control, including
the following factors (and other factors discussed elsewhere in the Risk
Factors): (i) there can be no assurances that we will be able to continue to
apply our expertise and solutions developed for the government market to the
commercial market; (ii) the ability of public safety and other government
agencies to access U.S. Department of Homeland Security and other homeland
security-related grants for incident management and related purposes; (iii) the
ability of the commercial markets to adopt and implement the active RFID
solutions; and (iv) the ability of our management to successfully market our
technologies to such government and/or commercial entities.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">16</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
success of our new business lines, comprising of the active RFID, CSMS and
RAPTOR products, is dependent on several factors.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
success of our active RFID, CSMS and RAPTOR products is dependent on several
factors, including proper new product definitions, product costs, timely
completion and introduction of the new products, differentiation of the new
products from those of our competitors, and market acceptance of these products,
as well as our existing and potential customers&#8217; varying budgets for capital
expenditures and new product introduction. We have addressed the need to develop
new products through our internal development efforts and joint development
efforts with other companies. In light of the OTI Transaction, the active RFID,
CSMS and RAPTOR product lines will be our main revenue growth generators in the
future. There can be no assurance that we will successfully identify new product
opportunities and/or develop and bring new products to market in a timely
manner, or that the products and technologies developed by others will not
render our products or technologies obsolete or noncompetitive. The failure of
our new product development efforts could have a material adverse effect on our
business, results of operations and future growth.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
our technology and solutions ceases to be adopted and used by government and
commercial organizations, we may lose some of our existing customers and
increase our losses.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
ability to grow depends significantly on whether governmental and commercial
organizations adopt our technology and solutions as part of their new standards
and whether we will be able to leverage our expertise with government products
into commercial products. If these organizations do not adopt our technology, we
might not be able to penetrate some of the new markets we are targeting, or we
might lose some of our existing customer base. There also can be no assurances
that we will be able to continue to apply our expertise and solutions developed
for the public sector to the commercial market.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In order
for us to achieve our growth objectives, our RFID and Credentialing technologies
must be adapted to and adopted in a variety of areas, including:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font>&#160;&#160;&#160;&#160;&#160;&#160;public
safety and emergency;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font>&#160;&#160;&#160;&#160;&#160;&#160;asset
management;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font>&#160;&#160;&#160;&#160;&#160;&#160;patient
and critical equipment tracking in the health care sector;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font>&#160;&#160;&#160;&#160;&#160;&#160;monitoring
and control of evidence in a crime scene environment;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font>&#160;&#160;&#160;&#160;&#160;&#160;transportation
applications using active RFID as method of monitoring and control;
and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font>&#160;&#160;&#160;&#160;&#160;&#160;access
control in such fields as education and health care.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Any or all of these areas may not adopt
our RFID and Credentialing technologies.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We cannot
accurately predict the future growth rate, if any, or the ultimate size of the
RFID and credentialing technology markets. The expansion of the market for our
products and services depends on a number of factors such as:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      cost, performance and reliability of our products and services compared to
      the products and services of our
competitors;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">customer
      perception of the benefits of our RFID based
  solutions;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">public
      perception of the intrusiveness of these solutions and the manner in which
      organizations use the information
collected;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">public
      perception of the confidentiality of private
  information;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">customer
      satisfaction with our products and services;
and</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">marketing
      efforts and publicity for our products and
  services.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Even if
RFID and Credentialing solutions gain wide market acceptance, our products and
services may not adequately address market requirements and may not gain wide
market acceptance. If our solutions or our products and services do not gain
wide market acceptance, our business and our financial results will
suffer.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
need to develop our position as a provider of RFID enabled security solutions
and Credentialing systems and services to earn high margins from our technology,
and if we are unable to develop such position, our business will not be as
profitable as we hope, if at all.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
increasing sophistication of our RFID and Credentialing technologies places a
premium on providing innovative software systems and services to customers, in
addition to manufacturing and supplying RFID and Credentialing technologies.
While we have had some early success positioning ourselves as a provider of such
services and systems, we may not continue to be successful with this strategy
and we may not be able to capture a significant share of the market for the
sophisticated services and systems that we believe are likely to produce
attractive margins in the future. A significant portion of the value of our RFID
and Credentialing technologies lies in the development of software and
applications that will permit the use of RFID and Credentialing technologies in
new markets. In contrast, the margins involved in manufacturing and selling RFID
and Credentialing technologies can be relatively small, and may not be
sufficient to permit us to earn an attractive return on our development
investments.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
time from our initial contact with a customer to a sale may be long and subject
to delays, which could result in the postponement of our receipt of revenues
from one accounting period to the next, increasing the variability of our
results of operations and causing significant fluctuations in our revenue from
quarter to quarter.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The period between our initial contact
with a potential customer and the purchase of our products and services is often
long and subject to delays associated with the budgeting, approval and
competitive evaluation processes that frequently accompany significant capital
expenditures, particularly by governmental agencies. The typical sales cycle for
our government customers has, to date, ranged from three to 24 months and the
typical sales cycle for our commercial customers has ranged from one to six
months. A lengthy sales cycle may have an impact on the timing of our revenue,
which may cause our quarterly operating results to fall below investor
expectations. We believe that a customer's decision to purchase our products and
services is discretionary, involves a significant commitment of resources, and
is influenced by customer budgetary cycles. To successfully sell our products
and services, we generally must educate our potential customers regarding their
use and benefits, which can require significant time and resources. This
significant expenditure of time and resources may not result in actual sales of
our products and services.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Due
to the nature of our business, our financial and operating results could
fluctuate.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
financial and operating results have fluctuated in the past and could fluctuate
in the future from quarter to quarter and from year to year for the following
reasons:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">long
      customer sales cycles;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">reduced
      demand for our products and
services;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">price
      reductions</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">new
      competitors, or the introduction of enhanced products or services from new
      or existing competitors;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">changes
      in the mix of products and services we or our customers and distributors
      sell;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">contract
      cancellations, delays or amendments by
  customers;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      lack of government demand for our products and services or the lack of
      government funds appropriated to purchasing our products and
      services;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">unforeseen
      legal expenses, including litigation
costs;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">expenses
      related to acquisitions;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">fluctuations
      in OTI's share price;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">other
      non-recurring financial charges;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      lack of availability, or increased cost, of key components and
      subassemblies;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      inability to successfully manufacture in volume, and reduce the price of,
      certain of our products; and</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">impairment
      loss of goodwill and intangible
assets.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
fair value of Vuance, Inc., our U.S. subsidiary, has caused a significant
goodwill impairment loss.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As part
of the annual review for impairment in accordance with SFAS No. 142 and 144, in
November 2008, we&#160;examined the fair value of the intangible assets and the
goodwill and in doing so, considered in part, a third party expert services.
The&#160;valuation referred to Vuance, Inc. as a single reporting unit. The
valuation was conducted on a going concern basis. Since Vuance, Inc. is
closely-held, and thus without a public market for its ownership interests, the
appraisal was conducted according to common appraisal practices, and based on
the Free Discounted Cash-Flows ("DCF") method.&#160;&#160;In addition, we
received market indication with respect to the fair value of Vuance, Inc. in the
first quarter of 2009. Based on the above we were required to recognize an
impairment loss in the amount of approximately $3,235,000.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">18</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
lead time for ordering parts for and manufacturing our products can be
significantly long and therefore based on forecasted demands rather than actual
orders received.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The lead
time for ordering parts and materials and building many of our products can be
many months. As a result, we must order parts and materials and build our
products based on forecasted demand. If demand for our products lags
significantly behind our forecasts, we may produce more products than we can
sell, which can result in cash flow problems and write-offs or write-downs of
obsolete inventory.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
markets are highly competitive and competition could harm our ability to sell
products and services and could reduce our market share.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
market for RFID enabled products and Credentialing is intensely competitive. We
expect competition to increase as the industry grows and as RFID and
Credentialing technology begins to converge with the access control and
information technology industry. We may not be able to compete successfully
against current or future competitors. We face competition from technologically
sophisticated companies, many of which have substantially greater technical,
financial, and marketing resources than we do. In some cases, we compete with
entities that have pre-existing relationships with potential customers. As the
active RFID enabled solutions market expands, we expect additional competitors
to enter the market.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Some of
our competitors and potential competitors have larger technical staffs, larger
customer bases, more established distribution channels, greater brand
recognition and greater financial, marketing and other resources than we do. Our
competitors may be able to develop products and services that are superior to
our products and services, that achieve greater customer acceptance or that have
significantly improved functionality as compared to our existing and future
products and services. In addition, our competitors may be able to negotiate
strategic relationships on more favorable terms than we are able to negotiate.
Many of our competitors may also have well-established relationships with our
existing and prospective customers. Increased competition may result in our
experiencing reduced margins, loss of sales or decreased market
share.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
average selling prices for our products may decline as a result of competitive
pricing pressures, promotional programs and customers who negotiate price
reductions in exchange for longer-term purchase commitments. The pricing of
products depends on the specific features and functions of the products,
purchase volumes and the level of sales and service support required. As we
experience pricing pressure, the average selling prices and gross margins for
our products may decrease over product lifecycles. These same competitive
pressures may require us to write down the carrying value of any inventory on
hand, which could adversely affect our operating results and earnings per
share.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
rely on the services of certain executive officers and key personnel, the loss
of which could adversely affect our operations by causing a disruption to our
business.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
future success depends largely on the efforts and abilities of our executive
officers and senior management and other key employees, including technical and
sales personnel. The loss of the services of any of these persons could disrupt
our business until replacements, if available, are found. We do not maintain any
key-person insurance for any of our employees.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
ability to remain competitive depends in part on attracting, hiring and
retaining qualified technical personnel; if we are not successful in such hiring
and retention, our business could be disrupted.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
future success depends in part on the availability of qualified technical
personnel, including personnel trained in software and hardware applications
within specialized fields. As a result, we may not be able to successfully
attract or retain skilled technical employees, which may impede our ability to
develop, install, implement and otherwise service our software and hardware
systems and to efficiently conduct our operations.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
information technology and network security industries are characterized by a
high level of employee mobility and the market for technical personnel remains
extremely competitive in certain regions, including Israel. This competition
means that (i) there are fewer highly qualified employees available for hire,
(ii) the costs of hiring and retaining such personnel are high, and (iii) highly
qualified employees may not remain with us once hired. Furthermore, there may be
pressure to provide technical employees with stock options and other equity
interests in us, which may dilute our shareholders and increase our
expenses.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">19</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
additions of new personnel and the departure of existing personnel, particularly
in key positions, can be disruptive, might lead to additional departures of
existing personnel and could have a material adverse effect on our business,
operating results and financial condition.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
planned growth will place significant strain on our financial and managerial
resources and may negatively affect our results of operations and ability to
grow more.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
ability to manage our growth effectively will require us:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font>&#160;&#160;&#160;&#160;&#160;&#160;to
continue to improve our operations, financial and management controls, reporting
systems and procedures;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font>&#160;&#160;&#160;&#160;&#160;&#160;to
train, motivate and manage our employees; and</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font>&#160;&#160;&#160;&#160;&#160;&#160;as
required, to install new management information systems.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
existing management and any new members of management may not be able to augment
or improve existing systems and controls, or implement new systems and controls,
in response to anticipated future growth. If we are successful in achieving our
growth plans, such growth is likely to place a significant burden on the
operating and financial systems, resulting in increased responsibility for our
senior management and other personnel.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Some
of our products are subject to government regulation of radio frequency
technology which could cause a delay in introducing, or an inability to
introduce, such products in the United States and other markets.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The rules
and regulations of the United States Federal Communications Commission (the
"FCC") limit the radio frequency used by and level of power emitting from
electronic equipment. Our readers, controllers and other radio frequency
technology scanning equipment are required to comply with these FCC rules which
may require certification, verification or registration of the equipment with
the FCC. Certification and verification of new equipment requires testing to
ensure the equipment's compliance with the FCC's rules. The equipment must be
labeled according to the FCC's rules to show compliance with these rules.
Testing, processing of the FCC's equipment certificate or FCC registration and
labeling may increase development and production costs and could delay
introduction of our verification scanning device and next generation radio
frequency technology scanning equipment into the U.S. market. Electronic
equipment permitted or authorized to be used by us through FCC certification or
verification procedures must not cause harmful interference to licensed FCC
users, and may be subject to radio frequency interference from licensed FCC
users. Selling, leasing or importing non-compliant equipment is considered a
violation of FCC rules and federal law, and violators may be subject to an
enforcement action by the FCC. Any failure to comply with the applicable rules
and regulations of the FCC could have a material adverse effect on our business,
operating results and financial condition by increasing our compliance costs
and/or limiting our sales in the United States.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Conditions
in Israel affect our operations in Israel and may limit our ability to sell our
products and services.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We are
incorporated under Israeli law and we also facilitate offices located in Israel.
Political, economic and military conditions in Israel may directly affect our
operations and business. Since the establishment of the State of Israel in 1948,
a number of armed conflicts have taken place between Israel and its Arab
neighbors and a state of hostility, varying from time to time in degree and
intensity, has led to security and economic problems for Israel. Although Israel
has entered into various agreements with its Arab neighbors and the Palestinian
Authority, there has been an increase in unrest and terrorist activity in
Israel, in varying levels of severity, since September 2000. The election in
early 2006 of representatives of Hamas, an Islamic resistance movement, to a
majority of seats in the Palestinian Legislative Council and the resulting
tension among the different Palestinian functions has created additional unrest
and uncertainty. Furthermore, several countries still restrict trade with
Israeli companies and additional countries may impose such restrictions as a
result of changes in the military and/or political conditions in Israel, which
may limit our ability to make sales in, or purchase components from, those
countries. Any future armed conflict, such as the armed conflict that occurred
during July and August, 2006 between Israel and Hezbollah, a Lebanese Islamist
Shiite militia group and political party, which involved rocket attacks on
populated areas in Northern Israel, or political instability, continued violence
in the region or restrictions could have a material adverse effect on our
business, operating results and financial condition. No predictions can be made
as to whether or when a final resolution of the area&#8217;s problems will be achieved
or the nature thereof and to what extent the situation will impact Israel&#8217;s
economic development or our operations.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
operations could be disrupted as a result of the obligation of management or key
personnel to perform military service in Israel.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Generally,
all nonexempt male adult citizens and permanent residents of Israel under the
age of 40, or older for reserves officers or citizens with certain occupations,
are obligated to perform annual military reserve duty and are subject to being
called for active duty at any time under emergency circumstances. We believe
that a maximum of three of our employees, approximately 6% of our employees at
any one time, could be called for active duty under emergency circumstances.
While we have operated effectively under these requirements since our
incorporation, we cannot predict the full impact of such conditions on us in the
future, particularly if emergency circumstances occur. If many of our employees
are called for active duty, our operations in Israel and our business, operating
results and financial condition may be adversely affected.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Your
rights and responsibilities as a shareholder will be governed by Israeli law and
differ in some respects from the rights and responsibilities of shareholders
under U.S. law.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We are
incorporated under Israeli law. The rights and responsibilities of holders of
our ordinary shares are governed by our Memorandum of Association and Articles
of Association, and by Israeli law. These rights and responsibilities differ in
some respects from the rights and responsibilities of shareholders in typical
U.S. corporations. In particular, a shareholder of an Israeli company has a duty
to act in good faith and customary manner in exercising his or her rights and
fulfilling his or her obligations toward the company and other shareholders, and
to refrain from misusing his power, including, among other things, when voting
at the general meeting of shareholders on certain matters. Israeli law provides
that these duties are applicable to shareholder votes on, among other things,
amendments to a company&#8217;s articles of association, increases in a company&#8217;s
authorized share capital and mergers and interested party transactions requiring
shareholder approval. A shareholder also has a general duty to refrain from
oppressing any other shareholder of his or her rights as a shareholder. In
addition, a controlling shareholder of an Israeli company or a shareholder who
knows that it possesses the power to determine the outcome of a shareholder vote
or who, under our Articles of Association, has the power to appoint or prevent
the appointment of a director or executive officer in the company, has a duty of
fairness toward the company. Israeli law does not define the substance of this
duty of fairness, but provides that remedies generally available upon a breach
of contract will apply also in the event of a breach of the duty to act with
fairness. Because Israeli corporate law has undergone extensive revision in
recent years, there is little case law available to assist in understanding the
implications of these provisions that govern shareholder behavior.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Provisions
of Israeli law may delay, prevent or otherwise encumber a merger with or an
acquisition of our company, which could prevent a change of control, even when
the terms of such transaction are favorable to us and our
shareholders.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Israeli corporate law regulates
mergers, requires tender offers for acquisitions of shares above specified
thresholds, requires special approvals for transactions involving directors,
officers or significant shareholders and regulates other matters that may be
relevant to these types of transactions. For example, a merger may not be
completed unless at least 50&#160;days have passed from the date that a merger
proposal was filed by each merging company with the Israel Registrar of
Companies and at least 30&#160;days from the date that the shareholders of both
merging companies approved the merger. In addition, a majority of each class of
securities of the target company is required to approve a merger. Furthermore,
Israeli tax considerations may make potential transactions unappealing to us or
to some of our shareholders whose country of residence does not have a tax
treaty with Israel exempting such shareholders from Israeli tax. For example,
Israeli tax law does not recognize tax-free share exchanges to the same extent
as U.S.&#160;tax law. With respect to mergers, Israeli tax law allows for tax
deferral in certain circumstances but makes the deferral contingent on the
fulfillment of numerous conditions, including a holding period of two years from
the date of the transaction during which time sales and dispositions of shares
of the participating companies are restricted. Moreover, with respect to certain
share swap transactions, the tax deferral is limited in time, and when the time
expires, tax then becomes payable even if no actual disposition of the shares
has occurred. These provisions of Israeli law could delay, prevent or impede a
merger with or an acquisition of our company, which could prevent a change of
control, even when the terms of such transaction are favorable to us and our
shareholders and therefore potentially depress the price of our
shares.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">21</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
shareholders may face difficulties in the enforcement of civil liabilities
against Vuance Ltd. and its officers and directors.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Certain
of our officers and directors and our professional advisors are residents of
Israel or otherwise reside outside of the U.S. Vuance Ltd. is incorporated under
Israeli law and its principal office and facilities are located in Israel. All
or a substantial portion of the assets of such persons are or may be located
outside of the U.S. It may be difficult to effect service of process within the
U.S. upon us or upon any such officers and directors or professional advisors or
to realize in the U.S. upon judgments of U.S. courts predicated upon the civil
liability of Vuance Ltd. or such persons under U.S. federal securities laws. We
have been advised by our Israeli counsel that there is doubt as to whether
Israeli courts would (i) enforce judgments of U.S. courts obtained against
Vuance Ltd. or such officers and directors or professional advisors predicated
solely upon the civil liabilities provisions of U.S. federal securities laws, or
(ii) impose liabilities in original actions against Vuance Ltd. or such officers
and directors and professional advisors predicated solely upon such U.S. laws.
However, in accordance with the Israeli Law on Enforcement of Foreign Judgments,
1958-5718, and subject to certain time limitations, an Israel court may declare
a foreign (including U.S.) civil judgment enforceable if it finds
that:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 18pt">
              </td>
              <td style="WIDTH: 18pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      judgment was rendered by a court which was, according to the laws of the
      state of the court, competent to render the
  judgment;</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 18pt">
              </td>
              <td style="WIDTH: 18pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      judgment may no longer be
appealed;</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 18pt">
              </td>
              <td style="WIDTH: 18pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      judgment is executory in the jurisdiction in which it was
      given;</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 18pt">
              </td>
              <td style="WIDTH: 18pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      obligation, the subject matter of the judgment, is enforceable under
      Israeli laws of enforcement of judgments and is not contrary to public
      policy;</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 18pt">
              </td>
              <td style="WIDTH: 18pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">due
      process has been observed;</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 18pt">
              </td>
              <td style="WIDTH: 18pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">such
      judgment was rendered by a court which was competent to render such
      judgment according to the rules of private international law, as
      applicable in Israel;</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 18pt">
              </td>
              <td style="WIDTH: 18pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">such
      judgment was not obtained by fraud and does not conflict with any other
      valid judgment in the same matter between the same parties;
      and</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 18pt">
              </td>
              <td style="WIDTH: 18pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">an
      action between the same parties in the same matter is not pending in any
      Israeli court or tribunal at the time the law suit is instituted in the
      foreign court.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Even if
these conditions are satisfied, an Israeli court will not enforce a foreign
judgment if it was given in a state whose laws do not provide for the
enforcement of judgments of Israeli courts (subject to exceptional cases) or if
its enforcement is likely to prejudice the sovereignty or security of the State
of Israel. The term &#8220;prejudice the sovereignty or security of the State of
Israel&#8221; as used in the Israeli Law on Enforcement of Foreign Judgments has
rarely been interpreted by Israeli courts; therefore, there is only limited
guidance as to what criteria will be considered by an Israeli court in
determining whether the enforcement of a foreign judgment would prejudice the
sovereignty or security of the State of Israel.</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">An
investor may also find it difficult to bring an original action in an Israeli
court to enforce liabilities based upon U.S. federal securities laws against us
or against our directors or officers. Israeli courts may refuse to hear a claim
based on a violation of U.S. securities laws and rule that Israel is not the
most appropriate forum in which to bring such a claim. In addition, even if an
Israeli court agrees to hear such a claim, it may determine that Israeli law and
not U.S. law is applicable to the claim. If U.S. law is found to be applicable,
the content of applicable U.S. law must be proved as a fact, which can be a time
consuming and costly process. Certain matters of procedure will also be governed
by Israeli law. There is little binding case law in Israel addressing these
matters.</font></div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Fluctuations
in the exchange rate between the U.S. dollar and foreign currencies may affect
our operating results.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We incur
expenses for our operations in Israel in New Israeli Shekels ("NIS") and
translate these amounts into U.S. dollars for purposes of reporting consolidated
results. As a result, fluctuations in foreign currency exchange rates may
adversely affect our expenses and results of operations, as well as the value of
our assets and liabilities. Fluctuations may adversely affect the comparability
of period-to-period results. In addition, we hold foreign currency balances,
primarily NIS, that will create foreign exchange gains or losses, depending upon
the relative values of the foreign currency, at the beginning and end of the
reporting period, affecting our net income and earnings per share. Although we
may use hedging techniques in the future (which we currently do not use), we
will not be able to eliminate the effects of currency fluctuations. Thus,
exchange rate fluctuations could have a material adverse impact on our operating
results and stock price. (See also Item 15, "Impact of Inflation and Currency
Fluctuations")</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
are exposed to special risks in foreign markets which may make operating in
those markets difficult and thereby force us to curtail our business
operations.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
conducting our business in foreign countries, we are subject to political,
economic, legal, operational and other risks that are inherent in operating in
other countries. For instance, business development in Hong Kong and China is
time consuming and risky due to the uncertain political, regulatory and legal
environment. Other risks inherent to operating in other countries range from
difficulties in settling transactions in emerging markets to possible
nationalization, expropriation, price control and other restrictive governmental
actions. We also face the risk that exchange controls or similar restrictions
imposed by foreign governmental authorities may restrict our ability to convert
local currency received or held by it in their countries into U.S. dollars or
other currencies, or to take those dollars or other currencies out of those
countries.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">22</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
terrorist attacks of September 11, 2001, and the continuing threat of global
terrorism, have increased financial expectations in our industries that may not
materialize.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
September 11, 2001 terrorist attacks and continuing concerns about global
terrorism, may have created an increased awareness for our security solutions in
general. However, it is uncertain whether the actual level of demand for our
products and services will grow as a result of such increased awareness.
Increased demand may not result in an actual increase in our revenues. In
addition, it is uncertain which security solutions, if any, will be adopted as a
result of terrorism and whether our products will be a part of those solutions.
The efforts of the U.S. in the war against terrorism, the war in Iraq, and the
post-war reconstruction efforts in Iraq, may actually delay funding for the
implementation of security solutions generally in the U.S. Even if our products
are considered or adopted as solutions to terrorism concerns, the level and
timeliness of available funding are unclear. These factors may adversely impact
us and create unpredictability in our revenues and operating
results.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
are unlikely to pay dividends in the foreseeable future and any return on
investment may be limited to the value of our ordinary shares.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
distributed a cash dividend to our shareholders on one occasion on August 26,
1997 in the aggregate amount of NIS 1 million and prior to that dividends in the
form of bonus shares were distributed on two other occasions. We do not expect
to declare or pay cash dividends in the foreseeable future and intend to retain
future earnings, if any, to finance the growth and development of our business.
If we do not pay dividends, our ordinary shares may be less valuable because a
return on your investment will only occur if our share price
appreciates.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Servicing
our debt obligations requires a significant amount of cash, and our ability to
obtain or generate cash depends on many factors beyond our control.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
ability to satisfy our debt service obligations, including making the payments
under the convertible bonds we issued in November 2006, to a financial investor
and to Special Situation Funds (the &#8220;Convertible Bonds&#8221;) will depend, among
other things, upon our future operating performance and our ability to refinance
indebtedness when necessary. Each of these factors is to a large extent
dependent on economic, financial, competitive, legislative, regulatory and other
factors that are beyond our control.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If, in
the future, we cannot generate sufficient cash from our operations to meet our
debt service obligations, we may need to reduce or delay capital expenditures or
curtail research and development efforts. In addition, we may need to refinance
our debt, obtain additional financing or sell assets, which we may not be able
to do on commercially reasonable terms, if at all. We cannot assure you that our
business will generate sufficient cash flow, or that we will be able to obtain
funding, sufficient to satisfy our debt service obligations. In addition, we may
need additional capital even to satisfy our present requirements if we undertake
large projects or have a delay in one of our anticipated projects. If we fail to
raise such additional capital, we may need to implement certain operational
changes in order to decrease our expenditure level. Our need for additional
capital to finance our operations and growth will be greater should, among other
things, our revenue or expense estimates prove to be incorrect.&#160;&#160;In
addition, Continuation of the Company's current operations after utilizing its
current cash reserves is dependent upon the generation of additional financial
resources either through the issuance of additional equity or debt securities or
other sources of financing&#160;or the sale of certain assets of the Company.
These matters raise substantial doubt about the Company's ability to continue as
a going concern. The financial statements have been prepared assuming that we
will continue as a going concern. The financial statements do not include any
adjustments that might result from the outcome of this uncertainty.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Restrictions
imposed by our Convertible Bonds and other debt instruments may limit our
ability to finance future operations or capital needs or engage in other
business activities that may be in our interest. Our failure to comply with our
obligations under these instruments could lead to an acceleration of our
indebtedness.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
indenture governing the Convertible Bonds contains certain covenants that will,
among other things, limit our ability and the ability of our restricted
subsidiaries to: (i) create liens; (ii) sell or otherwise dispose of assets;
(iii) engage in transactions with our affiliates; and (iv) merge or consolidate
with another entity or transfer all or substantially all of our assets. In
addition, we undertook to maintain a certain level of EBITDA for as long as the
Convertible Bonds are outstanding. These restrictions could limit our ability to
obtain future financing, make acquisitions or capital expenditures, withstand
economic downturns in our business, the industry or the economy in general,
conduct operations or otherwise take advantage of business opportunities that
arise.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">23</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
failure to make any payments due under our debt instruments, or to otherwise
comply with any of the restrictions or our obligations thereunder, could result
in an event of default under such instruments and lead to an acceleration of our
related indebtedness. We are not certain whether we would have, or would be able
to obtain, sufficient funds to make these accelerated payments. In that event,
certain lenders could proceed against those of our assets that secure their
debt.&#160;&#160;As of December 31, 2008 and June 30, 2009, we are not in
compliance with certain covenants under our Convertible Bond agreements, in
which case the Convertible Bond holders could seek to accelerate payment of the
unpaid principal amount and accrued interest under its Convertible Bond, an
aggregate of approximately $4,420,000 as of June 30, 2009.&#160;&#160;We are
currently negotiating with the Convertible Bond holders. See Item 5.B,
&#8220;Liquidity and Capital Resources,&#8221; regarding recent amendments to our agreements
with the holders of the Convertible Bonds.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
number of ordinary shares that are available for sale upon exercise of our
outstanding warrants, options and convertible bonds is significant in relation
to our currently outstanding ordinary shares. Sales of a significant number of
our ordinary shares in the public market, or the perception that they may occur,
may depress the market price for our ordinary shares.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
number of ordinary shares available for sale upon the exercise of our
outstanding warrants, options and convertible bonds is significant in relation
to the number of ordinary shares currently outstanding. As of May 31, 2009,
5,460,874 of our ordinary shares were outstanding. In addition, we had a total
of 1,254,101 ordinary shares issuable upon the exercise of outstanding options,
which we have issued to our employees and certain other persons at various
prices, some of which have exercise prices below the current market price for
our ordinary shares. As of May 31, 2009, we had a total of 857,185 ordinary
shares issuable upon the exercise of outstanding warrants issued to investors
and consultants, at various prices, which expire between 2009 and 2016. As of
May 31, 2009, we had a total of 980,055 ordinary shares issuable upon the
conversion of convertible bonds. As of May 31, 2009, our registered capital
permitted us to issue up to additional 3,447,785 ordinary shares in connection
with future grants of options, warrants, shares and other financial
instruments.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If our
warrant or option holders exercise their warrants or options, or holders of
convertible bonds covert their bonds into ordinary shares, and determine to sell
a substantial number of shares into the market at any given time, there may not
be sufficient demand in the market to purchase the shares without a decline in
the market price for our ordinary shares. Moreover, continuous sales into the
market of a number of shares in excess of the typical trading volume for our
ordinary shares, or even the availability of such a large number of shares or
the perception that these sales could occur, could cause substantial dilution to
existing shareholders, decrease the market price of our ordinary shares, and
impair our ability to raise capital in the future.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
ordinary shares may be delisted from The NASDAQ Capital Market, which could
negatively impact the price of our ordinary shares.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
December 11, 2008, we received a letter from the NASDAQ Capital Market
(&#8220;NASDAQ") advising us that we did not comply with the continued listing
requirements of Listing Rule 5550(b) (formerly Marketplace Rule 4310(c)(3)),
which requires us to have a minimum of $2.5 million in stockholders&#8217; equity, or
$35 million in market value of listed securities, or $500,000 of net income from
continuing operations for the most recently completed fiscal year or two of the
three most recently completed fiscal years (the &#8220;Listing
Requirements&#8221;).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As a
result, the NASDAQ Staff began reviewing our eligibility for continued listing
on NASDAQ. To facilitate their review, the NASDAQ Staff requested that we
provide on or before December 26, 2008, our specific plan to achieve and sustain
compliance with the NASDAQ listing requirements, including the time frame for
completion of the plan (the &#8220;Plan&#8221;).&#160;&#160;After we submitted the Plan, on
March 30, 2009 we received further correspondence from NASDAQ that we did not
comply with the Listing Requirements, and therefore, trading of our ordinary
shares would be suspended at the opening of business on April 8, 2009, and a
form 25-NSE would be filed with the SEC removing our securities from listing and
registration on NASDAQ, unless we requested an appeal of the delisting decision
by NASDAQ.&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
appealed the NASDAQ determination to a NASDAQ Listings Qualifications Panel (the
&#8220;Panel&#8221;), which automatically stayed the delisting of our ordinary shares until
the Panel reached a decision.&#160; On June 17, 2009, the Panel granted our
request for an extension of time to achieve full compliance with the Listing
Requirements.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Panel&#8217;s decision, and our continued listing on NASDAQ, is subject to our
compliance with certain conditions, including demonstration that we have
regained compliance with the Listing Requirements by September 28, 2009. While
we are executing on its plan to regain compliance, there can be no assurance
that we will be able to do so.&#160;&#160;Should we be unable to meet the
exception requirement, the Panel will issue a final determination to delist our
shares and, unless the NASDAQ Listing and Hearings Review Council issues a stay,
will suspend trading of our shares on NASDAQ effective on the second business
day from the date of the final determination and our ordinary shares could be
eligible for quotation and trading on the OTC Bulletin Board in accordance with
applicable rules and regulations.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">24</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In light
of the foregoing, if we fail to comply with the listing standards applicable to
issuers listed on NASDAQ, our ordinary shares may be delisted from NASDAQ. Such
delisting of our ordinary shares would significantly affect the ability of
investors to trade our securities and would negatively affect the value and
liquidity of our ordinary shares. In addition, the delisting of our ordinary
shares could also have a material adverse affect on our ability to raise capital
on terms acceptable to us, or at all. Delisting from NASDAQ could also have
other negative results, including the potential loss of confidence by customers
and employees, the loss of institutional investor interest and fewer business
development opportunities.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"Penny
stock" rules may make buying or selling our ordinary shares difficult, severely
limiting the market price of our ordinary shares and the liquidity of our shares
in the U.S.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Trading
in our ordinary shares may be subject to the "penny stock" regulations adopted
by the SEC. These regulations generally define a "penny stock" to be any equity
security that has a market price of less than $5.00 per share, subject to
certain exceptions. These rules require that any broker-dealer who recommends
our securities to persons other than prior customers and accredited investors
must, prior to the sale, make a special written suitability determination for
the purchaser and receive the purchaser's written agreement to execute the
transaction. Unless an exception is available, the regulations require delivery,
prior to any transaction involving a "penny stock," of a disclosure schedule
explaining the penny stock market and the risks associated with trading in the
penny stock market. In addition, broker-dealers must disclose commissions
payable to both the broker-dealer and registered representative and current
quotations for the securities they offer. The additional burdens imposed upon
broker-dealers by such requirements may discourage broker-dealers from effecting
transactions in our stock, which could severely limit the market price and
liquidity of our stock.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
default under certain registration rights agreements may result in liquidated
damages.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
connection with private placements completed in September 2004 and December
2005, in which we issued to the investors ordinary shares and warrants to
purchase our ordinary shares, we entered into registration rights agreements
pursuant to which we undertook to register such ordinary shares in accordance
with the Securities Act of 1933. Accordingly, we filed Forms F-1 on November
2004 and January 5, 2006. Our failure to properly update the Forms (and to make
subsequent registrations) in accordance with the registration rights agreements
could result in an event of default under such agreements and subject us to
liquidated damages.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
have a shareholder that is able to exercise substantial influence over us and
all matters submitted to our shareholders which may make us difficult to be
acquired and less attractive to new investors.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Special
Situations Fund III, L.P. and its affiliates (collectively, &#8220;SSF&#8221;) beneficially
own 1,073,970 of our ordinary shares, representing approximately 26.95% of our
outstanding ordinary shares, based on 5,460,874 ordinary shares currently
outstanding. In addition, SSF own warrants exercisable for an additional 250,952
ordinary shares and Convertible Bond for additional 146,721 ordinary shares.
Such ownership interest gives SSF substantial influence over the outcome of all
matters submitted to our stockholders, including the election of directors and
the adoption of a merger agreement, and such influence could make us a less
attractive acquisition or investment target. In addition, our officers and
directors beneficially own a significant amount of our ordinary shares, which
may have a similar effect to SSF's ownership of our ordinary
shares.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
persons engage in short sales of our ordinary shares, including sales of shares
to be issued upon the exercise of our outstanding warrants, options and
convertible bonds, the price of our ordinary shares may decline.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Selling
short is a technique used by a stockholder to take advantage of an anticipated
decline in the price of a security. In addition, holders of options, warrants
and convertible bonds will sometimes sell short knowing they can, in effect,
cover the sale through the exercise of an option, warrant or convertible bond,
thus locking in a profit. A significant number of short sales or a large volume
of other sales within a relatively short period of time can create downward
pressure on the market price of a security. Further sales of ordinary shares
issued upon exercise of our outstanding warrants, options or convertible bonds
could cause even greater declines in the price of our ordinary shares due to the
number of additional shares available in the market upon such exercise or
conversion, which could encourage short sales that could further undermine the
value of our ordinary shares. You could, therefore, experience a decline in the
value of your investment as a result of short sales of our ordinary
shares.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">25</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Costs
arising from our future acquisitions and dispositions could adversely affect our
financial condition.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Any
acquisition or disposition that we make could result in the use of our cash,
incurrence and assumption of debt, contingent liabilities, significant
acquisition-related expenses, amortization of certain identifiable intangible
assets, and research and development write-offs, and could require us to record
goodwill and other intangible assets that could result in future impairments
that could harm our financial results. We will likely incur significant
transaction costs pursuing acquisitions or dispositions, including acquisitions
or dispositions that may not be consummated. We may not be able to generate
sufficient revenues from our acquisitions or dispositions to offset their costs,
which could materially adversely affect our financial condition. The recognition
of impairments of tangible, intangible and financial assets results in a
non-cash charge on the income statement, which could adversely affect our
results of operations.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Being
a foreign private issuer exempts us from certain SEC requirements.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We are a
foreign private issuer within the meaning of rules promulgated under the U.S.
Securities and Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;). As such,
we are exempt from certain provisions applicable to U.S. public companies
including:</font></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      rules under the Exchange Act requiring the filing with the SEC of
      quarterly reports on Form 10-Q or current reports on Form
    8-K;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      sections of the Exchange Act regulating the solicitation of proxies,
      consents or authorizations in respect of a security registered under the
      Exchange Act;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      provisions of Regulation FD aimed at preventing issuers from making
      selective disclosures of material information;
  and</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      sections of the Exchange Act requiring insiders to file public reports of
      their stock ownership and trading activities and establishing insider
      liability for profits realized from any &#8220;short-swing&#8221; trading transaction
      (i.e., a purchase and sale, or sale and purchase, of the issuer&#8217;s equity
      securities within less than six
months).</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Because
of these exemptions, investors are not afforded the same protections or
information generally available to investors holding shares in public companies
organized in the U.S.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
4.&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-STYLE: italic">Information on the
Corporation.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">A.&#160;&#160;&#160;&#160;History
and Development of the Corporation</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">History
of the Company</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Vuance
Ltd. was incorporated in Israel, as a company limited by shares, on July 4,
1988, under the provisions of the then-current Israeli Companies Ordinance. We
now operate under the Israeli Companies Law, 5759-1999 (the &#8220;Israeli Companies
Law&#8221;), which became effective on February 1, 2000, and the Israeli Companies
Ordinance (New Version) 1983, as amended.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">From our
incorporation in 1988 until 1999, we were a development-stage company primarily
engaged in research and development, establishing relationships with suppliers
and potential customers and recruiting personnel with a focus on the
governmental market. In 2001, we implemented a reorganization plan, which we
completed in 2002. As a result of the reorganization, we expanded our marketing
and sales efforts to include the commercial market with a new line of advanced
smart card and identification technologies products, while maintaining our
governmental market business.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
2002, we sold, in three separate transactions with third party purchasers, our
entire equity interest in a U.S. subsidiary, InkSure Technologies, Inc., for
which we received aggregate proceeds of approximately $6,600,000. In December
2002, we discontinued the operations, disposed of all of the assets and
terminated the employees of two U.S. subsidiaries, Genodus Inc. and Kromotek,
Inc.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We became
a publicly-traded company on NASDAQ Europe stock market (Formerly EASDAQ) on
April 19, 1999. On October 23, 2003, following the closing of the NASDAQ Europe
stock market, we transferred the listing of our ordinary shares to the Euronext
Brussels stock market under the symbol &#8220;SUP,&#8221; which became &#8220;VUNC&#8221; after our
corporate name change on May 14, 2007. We applied for delisting of our shares
from the Euronext Brussels stock market, and our application was approved on May
6, 2008, effective August 4, 2008.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">26</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On July
29, 2004, we filed a Registration Statement on Form 20-F under the Exchange Act.
When the Registration Statement became effective on September 29, 2004, we
became a foreign private issuer reporting company under the Exchange
Act.&#160;&#160;On November 5, 2004, our ordinary shares began trading in the
U.S. on the OTC Bulletin Board under the symbol &#8220;SPCBF.OB," which following our
name change on May 14, 2007 became &#8220;VUNCF.OB.&#8221;&#160;&#160;On August 23, 2007,
our ordinary shares were approved for trading on The NASDAQ Capital Market under
the symbol &#8220;VUNC&#8221; and the trading of our shares on the OTC Bulletin Board
ceased.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
the fourth quarter of 2005, we established a new Delaware subsidiary (of which
we initially owned 80%), Vuance-RFID Inc. (formerly, Pure RF Inc.), which began
operations during the first quarter of 2006. During the first quarter of 2006,
Vuance-RFID Inc. established a wholly-owned Israeli subsidiary, Vuance RFID Ltd.
(formerly, Pure RF Ltd.). Vuance-RFID Inc. and Vuance RFID Ltd. focus on new
technologies and solutions for active tracking of people and objects. In
February 2007, we purchased the remaining 20% of the stock of Vuance - RFID Inc.
from its minority stockholders for an amount of $100,000, whereupon it became
our wholly-owned subsidiary. In August 2007, all the employees of Vuance RFID
Ltd. were transferred to Vuance Ltd., and on December 31, 2007 we purchased all
the assets and liabilities of Vuance RFID Ltd. During the year 2008, Vuance-RFID
Inc. engaged in an activity to distribute complementary locks and electronic
locks. This activity was terminated and it is presented in the financial
reports, as discontinued operations.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
the fourth quarter of 2006, we established a new wholly-owned subsidiary, S.B.C.
Aviation Ltd., (incorporated in Israel) which began operations in 2007 and is
focused on executing information technology and security projects.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In 2006
we decided to sell our E-ID Division in order to focus on opportunities in the
U.S. for our CSMS and active RFID tracking businesses, and on December 31, 2006,
we sold the E-ID Division to On Track Innovations Ltd., for 2,827,200 restricted
ordinary shares of OTI (of which 212,040 shares are related to consultants, as
part of the direct expenses of this transaction). The ordinary shares were
issued to us subject to a lock-up agreement, where one-seventh of the shares
(403,885 ordinary shares) are released from the lock-up restrictions every three
months beginning on December 31, 2006. We executed an irrevocable proxy
appointing OTI's chairman, on behalf of the board of directors of the Company
(&#8220;Board of Directors&#8221;), or a person the Board of Directors will instruct, to
vote the 2,827,200 ordinary shares issued to us in connection with the
transaction. Under the terms of our agreement with OTI, OTI committed to file
with the SEC a registration statement covering these ordinary shares and made
such filing on April 24, 2007. As of December 31, 2008, we sold all the OTI
shares received in the OTI Transaction.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Simultaneously,
we entered into a service and supply agreement with OTI under which (i) OTI
agreed to act as our subcontractor and provide services, products and materials
necessary to carry out and complete certain projects that were not transferred
to OTI (the &#8220;Existing Projects&#8221;), and (ii) OTI granted us an irrevocable,
worldwide, non-exclusive, non-assignable and non-transferable license to use in
connection with our Existing Projects, certain intellectual property rights
transferred to OTI as part of the OTI Transaction, for the duration of such
projects. The sale of our E-ID division and the services and supply agreement
are collectively referred to herein as the &#8220;OTI Transaction.&#8221;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On July
3, 2007, we entered, through our wholly-owned subsidiary, Vuance, Inc., into an
agreement (the &#8220;SHC Purchase Agreement&#8221;) to acquire all of the issued and
outstanding stock capital of Security Holding Corp. (&#8220;SHC&#8221;) from Homeland
Security Capital Corporation (OTCBB: HOMS.OB<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>(&#8220;HMSC&#8221;)) and other
minority shareholders (collectively, &#8220;Sellers&#8221;) for approximately $4,335,000 in
our ordinary shares and direct expenses of approximately $600,000 in our
ordinary shares. The closing date of this transaction was August 28, 2007
(&#8220;SHC<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>Closing<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>Date&#8221;). SHC<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>was<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>a Delaware corporation
engaged in the business of manufacturing and distributing RFID-enabled
solutions, access control and security management systems. As consideration for
the acquisition of the stock capital of SHC, 1,097,426 ordinary shares of the
Company were issued to the Sellers.&#160;&#160;Subject to certain terms and
conditions, in the event that we seek to register any of our ordinary shares
under the Securities Act of 1933 for sale to the public, for our own account or
the account of others, then at HMSC&#8217;s request, we will use our reasonable best
efforts to include our shares owned by HMSC in such registration. The Sellers
agreed to a lock-up period during which, subject to certain exceptions, they
will not sell or otherwise dispose of our shares. The restrictions on making
such transactions will expire for HMSC in eight equal installments, commencing
on the end of the first calendar quarter following the SHC Closing Date and each
of the seven calendar quarters thereafter, and for the other Sellers, in twelve
equal installments, commencing on the end of the first calendar quarter
following the SHC Closing Date and each of the eleven calendar quarters
thereafter. HMSC also agreed that during such restriction period, upon the
occurrence of any sale by HMSC of our shares due to HSMC&#8217;s bankruptcy,
insolvency or otherwise by operation of law, Vuance Inc. and the Company will
have a right of first refusal to purchase all (but not less than all) of our
shares held by HSMC on certain terms and conditions. HMSC further agreed that at
the SHC Closing Date it will grant an irrevocable power of attorney to the
Chairman of the Board of Directors of the Company to exercise all voting rights
related to its Vuance shares until the sale or transfer of such Vuance shares by
HMSC to an unaffiliated third party in an arm&#8217;s-length transaction. As part of
the SHC Purchase Agreement, certain Sellers will assume, subject to certain
exceptions, certain non-competition and employee non-solicitation undertakings
for a period of two years commencing on the SHC Closing Date. We guaranteed all
of the obligations of Vuance Inc. under the SHC Purchase Agreement. During the
fourth quarter of 2007, SHC and its subsidiaries were merged into Vuance
Inc.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">27</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
September 2007, we announced that we had entered into a definitive agreement to
acquire, through our U.S. subsidiary, Vuance Inc., the credentialing division of
Disaster Management Solutions Inc., ("DMS") for approximately $100,000 in cash
and up to $650,000 in royalties that will be paid upon sales of the advanced
first responder credentialing system (named &#8220;RAPTOR&#8221;) during the first twelve
months following the acquisition (the closing was in August 2007). This
acquisition complemented our incident management solutions business and added
the RAPTOR to our Credentialing &amp; Incident Management Suite.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Recent
Developments</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
December 11, 2008, we received a letter from NASDAQ advising us that we did not
comply with the Listing Requirements. As a result, the NASDAQ Staff began
reviewing our eligibility for continued listing on NASDAQ. To facilitate their
review, the NASDAQ Staff requested that we provide our specific
Plan.&#160;&#160;After we submitted the Plan, on March 30, 2009, we received
further correspondence from NASDAQ that we did not comply with the Listing
Requirements, and therefore, trading of our ordinary shares would be suspended
at the opening of business on April 8, 2009, and a form 25-NSE would be filed
with the SEC removing our securities from listing and registration on NASDAQ,
unless we requested an appeal of the delisting decision by
NASDAQ.&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
appealed the NASDAQ determination to a NASDAQ Listings Qualifications Panel (the
&#8220;Panel&#8221;), which automatically stayed the delisting of our ordinary shares until
the Panel reached a decision.&#160; On June 17, 2009, the Panel granted our
request for an extension of time to achieve full compliance with the Listing
Requirements.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Panel&#8217;s decision, and our continued listing on NASDAQ, is subject to our
compliance with certain conditions, including demonstration that we have
regained compliance with the Listing Requirements by September 28, 2009. While
we are executing on its plan to regain compliance, there can be no assurance
that we will be able to do so.&#160;&#160;Should we be unable to meet the
exception requirement, the Panel will issue a final determination to delist our
shares and, unless the NASDAQ Listing and Hearings Review Council issues a stay,
will suspend trading of our shares on NASDAQ effective on the second business
day from the date of the final determination and our ordinary shares could be
eligible for quotation and trading on the OTC Bulletin Board in accordance with
applicable rules and regulations.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On March
25, 2009 we and our subsidiary, Vuance, Inc. (&#8220;Vuance Inc&#8221;), completed the
acquisition of certain of the assets and certain of the liabilities of
Intelli-Site, pursuant to an asset purchase agreement dated March 6, 2009 with
Intelli-Site and Integrated Security Systems, Inc (&#8220;ISSI&#8221;).&#160;&#160;On the
date of closing, Vuance Inc agreed to pay Intelli-Site $262,000 payable in
twenty-five (25) consecutive installments.&#160;&#160;The first twelve (12)
monthly installments shall be equal to $11,000 each, and thereafter, the
remaining thirteen (13) monthly installments shall be equal to $10,000 each (the
&#8220;Cash Consideration&#8221;).&#160;&#160;In addition, we issued to ISSI 200,000 of our
ordinary shares (the &#8220;Consideration Shares&#8221;).&#160;&#160;In addition to the
payment of the Cash Consideration and the issuance of the Consideration Shares,
Vuance Inc. agreed to pay Intelli-Site and ISSI, as applicable, in royalty
payments, an amount of up to $600,000 in the aggregate, based upon certain
conditions, which shall be paid on a quarterly basis, within thirty (30) days of
the close of each quarter, and will be made 50% in cash to Intelli-Site and 50%
in our ordinary shares (the &#8220;Royalty Shares&#8221;) to ISSI.&#160;&#160;The number of
Royalty Shares to be issued to ISSI shall be calculated on the basis of the
weighted average closing price of our ordinary shares for the fifteen (15)
trading days preceding the quarterly payment, subject to a minimum of
$1.25.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ISSI, or
its permitted transferee, agreed to lock-up the Consideration Shares and Royalty
Shares, as applicable, pursuant to which ISSI or its transferee will not offer,
sell, transfer or otherwise dispose of the Consideration Shares or the Royalty
Shares, except the restrictions on the transfer of the Consideration Shares and
the Royalty Shares will expire in eight equal installments, commencing with the
end of the first calendar quarter following the date of closing and each of the
seven following calendar quarters thereafter.&#160;&#160;If any Consideration
Shares or Royalty Shares are issued after the last day of the eighth calendar
quarter following the date of closing, such shares shall not be subject to any
transfer restrictions.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>In January 2009, we announced that we
were selected to monitor and control all activity in the Decker Lake Youth
Complex, in West Valley City, Utah. This is a correctional facility designed for
housing youth in a Medium/High security setting.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>In December 2008, we announced the
expansion of our RAPTOR solution with an existing customer, Chester County,
Pennsylvania.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">28</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>In December 2008, we announced that we
have been awarded a stake in a government-funded project to develop a crime
scene security and evidentiary tracking system. This project, which is the
result of a grant sponsored by Vice President Joseph Biden, was awarded to
Delaware State University ("DSU"), the Delaware State Police and the Delaware
Department of Safety and Homeland Security. The total project value exceeds
$900,000 for the first year, with an opportunity for follow-on projects and
annual maintenance in future years. Our portion of the project is nearly
$700,000 for the first year.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>In August 2008, we announced that we
entered into a 10-year services agreement with a European International Airport
to provide support for the integrated perimeter security system and border
control system which includes annual fees of approximately
$620,000.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">On June 5, 2008, the Board of the
Brussels Stock Exchange (Euronext Brussels) approved our application to delist
our shares from the Euronext Stock Exchange. The delisting took effect as of
August 4, 2008. </font><font style="DISPLAY: inline; FONT-SIZE: 10pt">The
liquidity of our shares was limited on the Euronext Exchange, representing a
small fraction of the total trading volume of our shares globally. In addition,
the delisting of our shares from the Euronext Stock Exchange will result in
reduced expenses.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In June
2008, we reached an agreement with one of the investors (with a principal amount
of $2,500,000), under which, among other things, the investor waived our
compliance with certain covenants under its Convertible Bond, in exchange
for:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 53.45pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Increasing
      the interest rate to 10% starting March 31, 2008. Any withholding and
      other taxes payable with respect to the interest will be grossed up and
      paid by us (approximately 3% of the principal of the
  bond).</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 53.45pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Reducing
      the exercise price of the bond and the warrants to $3 and $2.8,
      respectively.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 53.45pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
      undertake to place a fixed charge on all incomes and/or rights in
      connection with a certain European Airport Project. This charge shall be
      senior to any indebtedness and/or other pledge and encumbrance, but shall,
      however, be subject to certain rights of the Company to use part of the
      income.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 53.45pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Certain
      anti-dilution rights with respect to the warrants held by the single
      investor.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
addition, under certain circumstances, the investor may have the right to demand
an early payment of a partial or full amount of the Convertible Bonds (up to the
$2,500,000 as mentioned above).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of
December 31, 2008 and June 30, 2009, we are not in compliance with certain
covenants under our Convertible Bond agreements. Thus, the Convertible Bond
holders could seek to accelerate payment of the unpaid principal amount and
accrued interest under its Convertible Bond, an aggregate of approximately
$4,420,000 as of June 30, 2009. We are currently negotiating with the
Convertible Bond holders.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In June
2008, we announced that we have been awarded a $1.4 million contract from the
Racine (WI) Unified School District, to install our MASC (Managed Automated
Security Controls) security solution into 31 school buildings, and two
administrative buildings, in the district. The school district is contemplating
additional buildings with the potential to expand this initial
project.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Principal
capital expenditures and divestitures</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">From
January 1, 2008 to December 31, 2008, our capital expenditures totaled
approximately $73,000 (compared to $116,000 during 2007 and $93,000 during
2006), of which approximately $39,000 (compared to $62,000 during 2007 and
$69,000 during 2006) can be attributed to our facilities in Israel, and
approximately $34,000 (compared to $54,000 during 2007 and $24,000 during 2006)
can be attributed to various facilities of our subsidiaries outside of
Israel.&#160;&#160;During the first financial quarter of 2009, our capital
expenditures totaled approximately $10,150.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Corporate
information</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our U.S.
headquarters are located at 10125 South 52<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: super">nd</font> Street,
Franklin, Wisconsin 53132 and our telephone number is +1-414-855-1019. Our
Israeli headquarters are located at Sagid House &#8220;Ha&#8217;Sharon Industrial Park,&#8221;
Qadima 60920, Israel and our telephone number is +972-9-889-0800. Our Internet
website address is http://www.vuance.com. The information contained on our
corporate websites is not a part of this prospectus.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our agent
for SEC matters in the U.S. is our subsidiary, Vuance, Inc., whose address is
10125 South 52<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: super">nd</font> Street,
Franklin, Wisconsin 53132.<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">29</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">B.&#160;&#160;&#160;&#160;Business
Overview</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">From 1988
through 2006, our principal business was the design, development and marketing
of advanced smart card and identification technologies and products for
governmental and commercial customers in Europe, Asia and Africa. As described
above, in 2006 we decided to sell our E-ID Division in order to focus on
opportunities for our RFID and Credentialing businesses. On December 31, 2006,
we completed the OTI Transaction. (See full description above) We expect to
continue to receive revenues from the Existing Projects, which were not
transferred to OTI, until 2016.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On August
28, 2007, we completed the acquisition of all of the issued and outstanding
stock capital of SHC from HMSC and other minority shareholders for approximately
$4,335,000 in our ordinary shares and direct expenses of approximately $600,000.
As consideration for the acquisition of the stock capital of SHC, 1,097,426
ordinary shares of the Company were issued to the Sellers. (See &#8220;History and
Development of the Corporation&#8221; above.)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>We believe that our exposure to the
governmental market and experience in customizing solutions in our former E-ID
Division, the acquisition of SHC and the acquisition of the assets of DMS will
contribute to our ability to develop and market products in our RFID and
Credentialing businesses. We currently concentrate our marketing efforts for our
RFID and Credentialing systems on U.S. distributers, state and local government
agencies that are also seeking to comply with U.S. Department of Homeland
Security requirements.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On March
25, 2009, we completed the acquisition of certain of the assets and certain of
the liabilities of Intelli-Site.&#160;&#160;We believe this acquisition will
strengthen our ability to provide comprehensive end to end security solutions
and generate additional revenues with higher margins.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>We currently operate in the U.S.
through our wholly-owned subsidiary, Vuance, Inc.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>We currently operate in Asia Pacific
through our wholly-owned subsidiary, Supercom Asia Pacific Limited.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>We develop and market innovative,
end-to-end security solutions in a wide range of applications for improved
credentialing, accountability, electronic access control, and tracking of assets
and personnel. Our solutions encompass access control, urban security, and
critical situation management systems (CSMS) as well as long-range active RFID
in the public safety, education, commercial, and government
sectors.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
Products</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We offer
three principal products suites to our customers:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Active
RFID</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Active
RFID is long, active radio frequency identification equipment that utilizes
active radio frequency communications to track assets, people and objects for
potential governmental agency and commercial customers. Our solutions are
programmable, small, sensitive and relatively cheap, providing significant
competitive advantages. Our branded active RFID solution, AAID, purchased in the
SHC transaction, is established and well-known in the market for tracking
vehicle and personnel.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Passive
RFID</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Electronic
Access Control (&#8220;EAC&#8221;) Suite</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EAC
applications provide increased security for enterprises, schools, office
buildings, warehouses and government facilities. Our solutions provide
credentials (secure badges), readers, door hardware, sensing devices, alarms,
controllers and host hardware and software to help maintain security at these
facilities. We provide these solutions through several branded
offerings:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 18pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8226;</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">COMPASS</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">COMPASS
is used by schools and universities (Columbine, Virginia Tech and Rutgers, among
others) and by governmental agencies and commercial enterprises (such as Prince
Williams County).</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">30</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
            </td>
            <td align="right" style="WIDTH: 18pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8226;</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
                </div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">MASC</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Managed
Automated Security Controls is an integrated solution designed for larger
commercial enterprises. MASC helps organizations (such as airports, banks,
hospitals, and correctional facilities) to control access, communications, and
other security solutions from an integrated platform.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 18pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8226;</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Insignia
      and Clarity</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Insignia
and Clarity together constitute a software hardware solution sold by
distributors to smaller businesses.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 18pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8226;</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Intelli-Site
      Software Package</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Intelli-Site
is a software package, used for integrated security control and as a management
software solution. This package is scalable from stand-alone applications that
can manage a variety of different applications from within a single, unified,
GUI platform that is used mainly for enterprise-level deployments. It also
provides flexibility for&#160;future system change or&#160;expansion and can
support both new and existing subsystems.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<font style="DISPLAY: inline; FONT-STYLE: italic">Credentialing &amp; Incident
Management Suite</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Credentialing
      ("RAPTOR")</font></font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Cutting-edge
storage and secure retrieval system for credentialing, authenticating,
verifying, validating, and managing personnel, advanced tracking and logistics,
designed especially for state and local governments, critical infrastructure,
and first responders.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Critical Situation Management
      System ("CSMS")</font></font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Management
system, for first responders currently in use in the U.S., CSMS offers a
customizable solution for credentialing, incident management, accountability and
virtual access control. We have an extensive product line, with smart cards,
both standalone and handheld readers, and interoperable communications
equipment. Credentialing and Incident Management systems utilize both passive
and active RFID technology, creating a unique and comprehensive solution
unmatched in the industry. CSMS applications target the following industries:
Law Enforcement, Fire Rescue, Homeland and Site Security and Emergency
Management.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
Strategy</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In 2006,
we decided to sell our E-ID division in order to focus on opportunities mainly
in the U.S. for our active RFID enabled solutions and CSMS businesses. The sale
was completed on December 31, 2006 (see section captioned &#8220;The OTI Transaction&#8221;
in this Item 4.A). In August 2007, we completed the acquisition of SHC. SHC is a
Delaware corporation engaged in the business of manufacturing and distributing
RFID-enabled solutions, access control and security management systems. (See
&#8220;History and Development of the Corporation&#8221; above.) We currently concentrate
our marketing efforts for our active and passive RFID enabled solutions and CSMS
to U.S. distributers, state and local government agencies.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Our two-pronged sales strategy is
to:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 9pt">
            </td>
            <td style="WIDTH: 9pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Develop
      strong strategic relationships with our business partners, including our
      systems integrators and distributors who introduce our solutions into
      their respective markets. These include: Graybar, NControl Security
      Integration Northern Video Nexus, Metroplex and Toshiba&#8217;s
    CDS.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 9pt">
            </td>
            <td style="WIDTH: 9pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Employ
      dedicated sales teams to work closely with these business partners. Each
      of the teams is responsible for one of the
  following:</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Active
      RFID sales through leading system integrators. This team customizes and
      adapts solutions that can then be installed and supported by these
      business partners.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EAC
      systems sold through regional system integrators (e.g., COMPASS, MASC and
      other defined products). The team provides needed product
      support.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CSMS
      and RAPTOR sales to government agencies and commercial enterprises. This
      team responds to bids through system integrators involving requests for
      proposal (RFPs) from these clients requiring commercial off-the-shelf
      solutions for many challenging
applications.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have a
multi-pronged approach to growth:</font></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 9pt">
            </td>
            <td style="WIDTH: 9pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Grow
      organically:</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 18pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Increase
      existing products&#8217; value (e.g., offer products which are smaller, better
      and cost less);</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 18pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Identify
      new applications for existing products and solutions;
  and</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 18pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Develop
      new products/solutions that meet clients&#8217;
needs.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">31</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 18pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Build
      a superior sales force. We are dedicating sales teams, coordinated through
      our U.S. corporate office to sell more products/solutions through our
      growing number of business partners. Cross-selling products and solutions
      will increase sales to existing customers and create new
      opportunities.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 9.9pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 9pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Make
      synergistic acquisitions. Continue to &#8220;leapfrog&#8221; growth through strategic
      acquisitions of companies with complementary products and/or relations
      with business partners, as we have with SHC, RAPTOR and recently
      with&#160;&#160;Intelli-Site.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Due to
our strategies, we are emerging as a leading RFID enabled security solution
provider in a fast growing markets, mainly for public safety, educational &amp;
correction facilities. This is accomplished because of our unique combination of
in-house security products, superior technology and team expertise coupled with
non-organic synergies.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Enhancing
Our Presence</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
decided to establish an advisory board (the &#8220;Advisory Board&#8221;) to assist us in
broadening our presence in the government, military, and law enforcement sectors
and to identify the core technology needs of the homeland security and related
markets, as well as new applications for our technologies.&#160;&#160;We have
sought preeminent authorities to serve on the Advisory Board and in February
2006 we announced the creation of the Advisory Board and the appointment of R.
James Woolsey, former Director of Central Intelligence and one of America&#8217;s
preeminent authorities on security issues, as its Chairman. In August 2006, we
announced that Neil C. Livingstone, one of America&#8217;s preeminent authorities on
security issues was appointed to the Advisory Board. In April 2007, we announced
that Oliver "Buck" Revell, former Associate Deputy Director in charge of
Criminal Investigations, Counter-Terrorism and Counter-Intelligence at the
Federal Bureau of Investigation, and one of the world's most recognized experts
in the fight against terrorism, has joined our Advisory Board. On March 2008,
Morris A. Sandler, who has been a Managing Partner in a number of
merchant-banking and investment companies and has more than twenty years
experience in financial services, venture capital and merchant
banking&#160;&#160;and more than twelve years experience in the telecom
industry, joined our Advisory Board.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
currently concentrate our marketing efforts for our RFID and Credentialing
systems on U.S. distributors, state and local government agencies that are also
seeking to comply with U.S. Department of Homeland Security requirements. To
date, our Credentialing suite has been acquired and successfully deployed in Los
Angeles, CA (by the city and police department), in Columbus, OH (first
responders), in three Pennsylvania counties (first responders) and by the U.S.
Army (mobile access control unit). We are also currently developing the crime
scene evident tracking under a grant from the Department of Justice jointly with
DSU. We also plan to market our CSMS and active RFID tracking systems to
commercial customers.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In order
to expand our U.S. presence, we acquired SHC, the credential division of DMS,
and recently certain assets of Intelli-Site. We may pursue acquisitions of one
or more companies that have an existing customer base and revenues in the U.S.
or that can otherwise offer business synergies to us.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Identifying
New Applications for Our Technologies</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
management and its external advisors are working to identify new applications
for our technologies in the homeland security, defense, healthcare, educational
and other markets. At a time when both government and the private sector are
faced with unprecedented challenges to protect public safety and personal
privacy, we expect our Advisory Board to help extend our forward-looking
technologies to the U.S. market.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Leveraging
Knowledge and Experience</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
believe that our exposure to the governmental market and experience in
customizing solutions in our former E-ID Division will contribute to our ability
to develop and market products in our RFID and Credentialing businesses. We
intend to leverage such knowledge and experience in order to respond to the
needs of existing and potential customers in the homeland security, healthcare,
educational and other markets.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Seeking
Partnerships With Other Relevant Companies</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To
bolster our sales and marketing efforts, we may seek to partner with
distributors that can offer us new relationships within the homeland security
sector and with government agencies as well as with the commercial sector and
help us increase our geographic breadth and penetrate other selected vertical
markets. In addition, we may seek to partner with system integrators experienced
in handling large-scale governmental projects under government contracts, since
we believe such partners, by virtue of their recognition by government agencies,
may have an advantage in securing government contracts. Finally, we may seek to
enter into strategic partnerships with companies that offer technologies that
complement ours.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">32</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Current
Businesses</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Active
RFID Business</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
February 2006, we introduced our active RFID technology, which utilizes active
radio frequency communications to track people and objects. We developed this
new technology to meet the growing market demand for asset and person tracking
solutions. The new technology expands our wide range of products aimed at the
homeland security market through a wireless asset tracking system.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In order
to focus on the growing market for this technology we acquired SHC, which owned
the AAID long range Active RFID security solution.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
readers and tags have been sold by AAID since 1999. Currently, the majority of
the sales are vehicle-related including gated communities, employee parking
lots, and fleet management.&#160;&#160;We believe in the future of this
technology in personnel and asset tracking and we will leverage AAID's market
positioning to introduce our Pure-RF technologies. Our AAID movement detection
solution can monitor and track a number of items simultaneously, providing an
active set of different signals and alerts. The software and hardware solution
employs small, low-powered RFID tags attached to an object or a person.
License-free radio bands are used to track the RFID tag from a base transmitter
that is programmable for periodic or event-driven transmissions.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Current
activities in our active RFID business involve the development and marketing of
a new product, the AAID Suite, which is described below. We plan to market the
AAID Suite in the industrial, healthcare, security and homeland security
sectors, and to further develop, improve and customize the AAID Suite to meet
customers&#8217; needs in niche sectors.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Product</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We expect
our AAID Suite, a complete location position (LP) system solution based on
active RFID tag technology, to offer commercial customers and governmental
agencies enhanced asset management capabilities. The system can be deployed in
physical security applications. The basic components of our AAID Suite
include:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">an
      active tag, which contains a microchip equipped transponder, an antenna
      and a capacitor, attached to the item to be identified, located or
      tracked;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a
      web-based management system, which captures and processes the signal from
      the active tag, and may be configured to provide an alert upon the
      occurrence of a trigger event;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">one
      or more wireless receivers; and</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      tag's&#160;&#160;initializer, which is used to configure the AAID
      tags.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The AAID
Suite provides a secure, precise and cost-effective means to positively
identify, locate, track, monitor, count and protect people and objects,
including inventory and vehicles. The ability to reliably identify and track the
movement of people and objects in real time will enable AAID Suite customers to
detect unauthorized movement of vehicles, trace packages and containers, control
personnel and vehicle access to premises, and protect personnel in hazardous
working environments and disaster management situations.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Customers</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
customers are also our business partners, i.e., system integrators and
distributors who introduce our solutions into their perspective markets. These
include: Graybar, NControl Security Integration Northern Video Nexus, Metroplex
and Toshiba&#8217;s CDS, Simplex Grinnell and Sinsel, SA de CV., etc.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">33</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Market
Opportunity</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Radio
frequency identification, or RFID, is a widely adopted technology in the
auto-identification market, which addresses electronic identification and
location of objects. Typically, an RFID tag or transponder is attached to or
incorporated into a product or person. A handheld or stationary device that
receives the radio frequency waves from these tags is used to determine their
locations. Prior to the adoption of RFID, users identified and tracked assets
manually as well as through the use of bar code technology. These solutions were
limited because of the need for ongoing human intervention and the lack of
instantaneous location capabilities. RFID technology possesses greater range,
accuracy, speed and lower line&#8722;of&#8722;sight requirements than bar code
technology.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our AAID
Suite can track items simultaneously, providing an alert when a tagged item is
removed from a pre-determined area, passes through a marked checkpoint or
otherwise moves. We believe that potential customers for our AAID Suite include
the following:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Civil and Military
      Governments</font>. Our AAID Suite can provide secure access control into
      restricted areas and map and track visitors throughout a facility. Many
      high security facilities, including governmental and industrial
      facilities, need access monitoring. For example, nuclear power plants,
      national research laboratories and correctional facilities need to
      accurately and securely monitor inbound and outbound activity. Line of
      sight identifiers, such as identification cards, suffer from problems that
      our RFID technology readily overcomes, including reliance on human visual
      identification, forgery and tampering. Our AAID Suite also enables
      identification and location of individuals in restricted areas in real
      time.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Airport and Port Security
      Infrastructure Providers</font>. Our AAID Suite can offer solutions for
      the transportation sector by enabling common carriers to monitor, track,
      locate and manage multiple baggage items simultaneously, thereby reducing
      risk of lost baggage, increasing customer service and improving
      security.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Businesses and Industrial
      Companies</font>. Our AAID Suite can be used by businesses, shippers and
      warehouse operators to manage and track cartons, pallets, containers and
      individual items in order to facilitate movement, order picking, inventory
      verification and reduce delivery time. In addition, industrial companies
      can manage and track their mobile equipment and tools. We believe that our
      AAID Suite can increase efficiency at every stage of asset, inventory and
      supply chain management by enabling long-range identification and location
      of products and removing the need for their human visual identification.
      Our products also work in conjunction with existing bar coding and
      warehouse systems to reduce the risk of loss, theft and slow speed of
      transfer.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Hospitals and Care
      Homes</font>. The healthcare sector has successfully utilized RFID
      technologies for the purposes of infant protection in maternity wards and
      wander prevention in care homes similar to our asset and personnel
      location and identification system targeted at the secure facility and
      hazardous business sectors. Our AAID Suite can provide solutions for the
      healthcare sector for asset, staff, patient and medical record location
      and identification. We believe that as hospitals continue to upgrade their
      security measures, RFID technology will be utilized in real time location
      systems that are designed to immediately locate persons, equipment and
      objects within the hospital.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Livestock Owners</font>. Our
      AAID Suite can be used as a livestock identification, tracking and
      safeguarding system.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Credentialing&#160;&#160;- CSMS and
RAPTOR Suite Business</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our CSMS
and RAPTOR suite represent a completely integrated solution for multiple
applications. The applications include enabling state and local public safety
agencies, such as police, fire and emergency medical services departments, and
other governmental agencies to comply with U.S. Department of Homeland Security
requirements regarding national incident management systems, security,
protection of infrastructure and incident command systems.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Product</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have a
range of access control, RFID, and credentialing product lines which are
integrated into an end-to-end comprehensive solution.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">34</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Credentialing:
CSMS and RAPTOR.</font> These products are designed to meet the need for
comprehensive and mutually compatible credentials that governments and first
responders have noted as important in both the fight against terrorism and the
need to respond to any catastrophe.&#160;&#160;This market suffered from low
expenditure levels due to a lack of clearly defined product
requirements.&#160;&#160;Now that these requirements are not only defined, but
also codified into law, the purchasing decisions are returning to standard
procedures.&#160;&#160;CSMS is an existing product with a full range of
accessories, which was designed primarily for temporary credentials created at
the scene of an incident. RAPTOR is a newer product targeted more specifically
to use credentials that meet the full range of government specifications with
user verification as well as identification.&#160;&#160;RAPTOR has been recently
updated to use the latest technology and its RAPTOR Express version is
attracting a lot of attention. In order to better respond to the emerging need
we have combined the CSMS function into RAPTOR to deliver the more comprehensive
CSMS.&#160;&#160;The target market for CSMS currently is mainly the state and
local governments.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Customers</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our first
customer for our CSMS products was the City of Columbus, Ohio, which deployed
the SmartDSMS system in April 2005 and subsequently expanded its capabilities.
In November 2006, we entered into a contract to provide a CSMS system to the
City of Los Angeles, CA for the Department of General Services&#8212;Office of Public
Safety, the Office of Personnel and the Police Department (Mobile Command Post
Unit). In January 2007, we entered into two additional contracts for the
deployment of CSMS systems with county governments in Pennsylvania. In October
2008, we entered into a MOU with Delaware State University to cooperate in order
to develop, test and deploy a Mobile Crime Scene system.&#160;&#160;In December
2008, we announced that we have been awarded a stake in a government-funded
project to develop a crime scene security and evidentiary tracking system. In
December 2008, we also received an order for expansion<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font>of
our RAPTOR solution with Chester County, Pennsylvania.&#160;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Market
Opportunity</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In 2002,
following the terrorist attacks on September 11, 2001, and in accordance with
The National Strategy for Homeland Security and the Homeland Security Act of
2002, the U.S. Department of Homeland Security, (&#8220;DHS&#8221;) was formed. The main
objective of the DHS is to provide the unifying core for the vast nationwide
network of organizations and institutions involved in efforts to provide
national security. DHS initiatives have emphasized &#8220;interoperability&#8221;&#8212;the
implementation of new systems that facilitate interaction between government
agencies, including first responders such as police, fire and emergency medical
services departments, in anticipation of and response to incidents that threaten
public safety. Presidential directives concerning homeland security call for the
development of:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a
      National Incident Management System that will provide a consistent
      framework for incident management at all jurisdictional levels regardless
      of the cause, size or complexity of the incident and provide first
      responders with a common foundation for incident management of terrorist
      attacks, natural disasters and other emergencies;
  and</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a
      National Response Plan that will provide the structure and mechanisms to
      coordinate and integrate incident management activities and emergency
      support functions across federal, state, local and tribal government
      entities, the private sector and non-governmental
  agencies.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
activities and projects necessary to achieve these goals are accomplished by
furnishing federal funding to state and local government agencies. Since 2002,
the DHS has allocated over $20 billion in grants and awards to state and local
government agencies for the implementation of a broad range of security projects
throughout the U.S. Much of the grants have not yet been spent by the recipient
government agencies. In January 2007, the DHS announced plans to grant an
additional $1.7 billion for specified security programs. During 2008, the
domestic preparedness funding streams from the federal government have continued
to be allocated each fiscal year in the multi-billion dollar range. &#160;We
hope to leverage opportunities funded through the U.S. stimulus package centered
on the emergency services and educational markets.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
believe that we are positioned to take advantage of the market opportunity
presented by DHS-funded security projects of state and local government agencies
throughout the U.S. Our CSMS systems can be used as standalone solutions for the
access control, accountability and credentialing needs of law enforcement and
first responder governmental agencies managing disaster sites, including sites
of natural disasters, terrorist attacks, crime scenes or large scale accidents.
The individual components of the CSMS system could also be marketed to the U.S.
military or the DHS for more general perimeter security
applications.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Passive
RFID</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Electronic
Access Control (&#8220;EAC&#8221;) Suite</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">35</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Product</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>EAC applications provide increased
security for enterprises, schools, office buildings, warehouses and government
facilities. Our solutions provide credentials (secure badges), readers, door
hardware, sensing devices, alarms, controllers and host hardware and software to
help maintain security at these facilities. We provide these solutions through
several branded offerings:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 36pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8226;</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">COMPASS</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">COMPASS
is used by schools and universities (Columbine, Virginia Tech and Rutgers, among
others) and by governmental agencies and commercial enterprises (such as Prince
Williams County).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 36pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8226;</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">MASC</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Managed
Automated Security Controls is an integrated solution designed for larger
commercial enterprises. MASC helps organizations to control access,
communications, and other security solutions from an integrated platform (such
as banks, hospitals, and correctional facilities).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 36pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8226;</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Insignia
      and Clarity</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Insignia
and Clarity together constitute a software hardware solution sold by
distributors to smaller businesses.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Customers</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
customers are distributors, regional system integrators (e.g. COMPASS; MASC) and
dealers (e.g., Insignia Security Systems, Clarity Security and other providers
of security solutions). On rare occasions where the conditions allow we may sell
directly to large organizations such as local municipalities and large
organizations, which requires the direct intervention of our subject matter
experts.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Market
Opportunity</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our EAC
suite targets a wide range of customers from challenging environments, spanning
the commercial sectors, small businesses and the private sector. This is
achieved by presenting three product lines:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 36pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">MASC</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>EAC for correctional facilities,
airports, cities, and challenging environments.</font></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 36pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">COMPASS</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>EAC for education and commercial
sector.</font></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 36pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Clarity/Insignia</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>EAC for small businesses and the
commercial and private sectors.</font></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 36pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Intelli-Site
      software</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Intelli-Site
software package for managed integrated security solutions</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Sectors
targeted include:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Health
Care</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">From
clinics in shopping malls to sprawling medical campuses, the challenges facing
the health care industry are immense. From coordinating access to secure areas
such as operating rooms and nurseries to preventing theft of valuable equipment
and monitoring corridors, stairways and departments, health care management
requires reliable solutions to meet the needs in a complex and rapidly changing
environment.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Education</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Today&#8217;s
school campuses rival their counterparts in business and health care in terms of
sophistication and security requirements. From providing automated access
control for sporting events and concerts, and credentialing and verifying
faculty, staff (and students), to tracking equipment from building to building
or throughout districts and identifying vehicles, to securing buildings and
facilities in the event of disaster; educators are no longer &#8220;just teachers&#8221; and
administrators must enforce a number of requirements to keep students and assets
safe.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">36</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Transportation</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Identifying
drivers, and controlling access to parking garages, parking lots or special
parking zones are only part of the challenges facing the transportation
industry. From connecting drivers to specific vehicles or connecting pilots with
specific aircrafts to monitoring fleet vehicles, or reducing theft and vandalism
in parking garages, transportation management involves more than just getting
from place to place.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Correctional
Facilities, Airports, Municipalities Facilities</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">From
correctional facilities to airports and municipalities facilities, the
challenges facing environments that require high security are enormous and
ever-changing. Coordinating access to secure areas and monitoring these
challenging environments efficiently despite multiple events requires reliable
intuitive solutions to meet the needs in complex and high security
sites.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Former
E-ID Division</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">From 1988
to 2006, our principal business was the design, development and marketing of
advanced smart card and identification technologies and products for
governmental and commercial customers in Europe, Asia and Africa. Our
applications and solutions included e-passports, visas and other border entry
documents, national identification and military, police and commercial access
identification. As detailed above, in 2006, we decided to sell our E-ID division
in order to focus on opportunities in the U.S. for our CSMS and active RFID
businesses.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In our
E-ID Division, we developed a fully automated production line for picture
identification contactless smart cards, and offered our customers raw materials,
maintenance and service agreements. We provided identification solutions and
contactless smart card production equipment for governmental and commercial
customers. The customers and contracts of our E-ID Division in 2006, 2007 and
2008 included the following:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>National Multi ID with a European
Country</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>In 2006, we entered into an agreement
with a European country which we estimate will generate approximately $50
million in revenues during the 10-year term of the project. Under the agreement
we will provide the end-to-end system for a national multi-ID issuing and
control system. There can be no assurance, however, that we will realize the
full estimated value of this agreement.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The project, which commenced during the
third quarter of 2006, involves the implementation of an end-to-end national ID
issuing and control system based on our Magna system and includes the supply of
digital enrollment and production equipment, software, maintenance and supply of
secured raw material for the production of various national ID cards. In 2006,
2007 and 2008, we recognized revenue of $4,715,000, $6,179,000 and $5,468,000,
respectively, under this Agreement.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Perimeter Security and Border Control
at European International Airport</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>In 2007, we entered into a definitive
agreement (the &#8220;Agreement&#8221;) with a European international Airport to provide an
integrated perimeter security system and a border control system for a total of
$13.8 million. The establishment of the security and control system began during
the third quarter of 2007. Once the system has been fully implemented, we will
enter the ten-year maintenance period that could generate an additional $620,000
in annual revenues. In 2007 and 2008, we recognized revenue of $2,182,000 and
$9,722,000, respectively, under this Agreement.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Other
Projects</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
the years 2006, 2007 and 2008 we had the following projects:</font></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 35pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Passports
      and ID Card - Africa</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 35pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Passports
      - Hong Kong</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 35pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Hong
      Kong &#8211; China Re-Entry Cards</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 35pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Passports
      - United Kingdom</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 35pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Biometric
      Visa system to a European
Government</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 35pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">National
      ID card deal with an African Governmental
Agency</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 35pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Automated
      Smart Card Production System to a European
  Government</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 35pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Biometric
      passport issuing and control system for a western European
      country</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 35pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">E-Passport
      with a European Country</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">37</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
the years ended 2006, 2007 and 2008 we generated revenues from the above
mentioned projects in the total amounts of $3,316,000, $2,659,000 and $478,000,
respectively.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Research
and Development</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Our
past research and development efforts helped us to achieve the goal of offering
our customers a complete line of products and solutions. We spent $1.4 million,
$1.7 million and $2.6 million on research and development in 2006, 2007 and
2008, respectively. These amounts were spent on the development or improvement
of our technologies and products, primarily in the areas of Active RFID and
Credentialing. We will continue to research and develop new technologies for
RFID and Credentialing. There can be no assurance that we can achieve any or all
of our research and development goals.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Sales
and Marketing</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We
sell our systems and products worldwide through distribution channels that
include direct sales and traditional distributor or reseller sales. We have
approximately 19 employees that are directly engaged in the sale, distribution
and support of our products through centralized marketing offices in distinct
world regions, including the employees of Vuance, Inc., which markets our
products in the U.S. and of SuperCom Asia Pacific, which markets our products in
Asia. We are also represented by several independent distributors and resellers
with which we often have distribution agreements.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Our
distributors and resellers sell our systems and products to business enterprises
and government agencies and act as the initial customer service contact for the
systems and products they sell. We establish relationships with distributors and
resellers through written agreements that provide prices, discounts and other
material terms and conditions under which the reseller is eligible to purchase
our systems and products for resale. These agreements generally do not grant
exclusivity to the distributors and resellers and, as a general matter, are not
long-term contracts, do not have commitments for minimum sales and could be
terminated by the distributor. We do not have agreements with all of our
distributors.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Sales
Analysis</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Sales
By Geographic Destination:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 20pt"></font>The following table provides a
breakdown of total revenue by geographic market (all amounts in thousands of
dollars):</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <div align="center">
          <div style="MARGIN-LEFT: 18pt" align="left">
            <table cellpadding="0" cellspacing="0" width="80%">
                <tr>
                  <td valign="bottom" width="64%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="10" nowrap valign="bottom" width="34%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Year&#160;ended&#160;December&#160;31,</font></font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr>
                  <td valign="bottom" width="64%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="3" nowrap valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2006</font></font></div>
                  </td>
                  <td colspan="3" nowrap valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2007</font></font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2008</font></font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr>
                  <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr>
                  <td valign="bottom" width="64%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">revenues</font></font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">revenues</font></font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">revenues</font></font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr>
                  <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="64%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Europe</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6,023</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(*)</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9,003</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(*)</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15,193</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="64%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Asia
      Pacific</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,730</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,330</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">310</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="64%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Africa</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">621</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">823</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">350</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="64%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">United
      States</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">373</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,787</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,506</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="64%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Israel</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">194</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">371</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">294</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td valign="bottom" width="64%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td valign="bottom" width="64%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">8,941</font></font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(*)</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">13,314</font></font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(*)</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">20,653</font></font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
            </table>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;(*)
Certain comparative figures have been reclassified to conform to the current
period presentation.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 20pt"></font>The following table provides a
breakdown of total revenue by product category (all amounts in thousands of
dollars):</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <div align="center">
          <div style="MARGIN-LEFT: 18pt" align="left">
            <table cellpadding="0" cellspacing="0" width="80%">
                <tr>
                  <td valign="bottom" width="64%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="10" nowrap valign="bottom" width="34%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Year&#160;ended&#160;December&#160;31,</font></font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr>
                  <td valign="bottom" width="64%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2006</font></font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2007</font></font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2008</font></font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr>
                  <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="64%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Raw
      materials and equipment</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6,529</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9,315</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17,589</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Maintenance,
      royalties and project management</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2,412</font></font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(*)</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">3,999</font></font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(*)</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">3,064</font></font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td valign="bottom" width="64%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">8,941</font></font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(*)</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">13,314</font></font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(*)</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">20,653</font></font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
            </table>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(*)
Certain comparative figures have been reclassified to conform to the current
period presentation.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">38</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Customer
Service</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We
believe that customer support plays a significant role in our sales and
marketing efforts and in our ability to maintain customer satisfaction, which is
critical to our efforts to build our reputation and grow in our existing
markets, as well as to our efforts to penetrate and grow in new markets. In
addition, we believe that our interaction with our customers and the customers&#8217;
feedback involved in our ongoing support functions provide us with information
on customer needs and contribute to our product development efforts. We
generally provide maintenance services under separate, tailor made agreements.
We provide our service through customer training, local third-party service
organizations, our subsidiaries, or our personnel, including appropriate
personnel sent from any of our offices in U.S., Israel or Hong-Kong. We
generally provide our customers with a warranty for our products, varying in
length from 12 to 36 months. Costs incurred annually by us for product
warranties have to date been insignificant; however, there can be no assurance
that these costs will not increase significantly in the future.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Manufacturing
and Availability of Raw Materials</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
manufacturing operations consist primarily of materials planning and
procurement, quality control of components, kit assembly and integration, final
assembly, and testing of fully-configured systems. A significant portion of our
manufacturing operations consists of the integration and testing of
off-the-shelf components. All of our products and systems, whether or not
manufactured by us, undergo several levels of testing, including configuration
to customer orders and testing with current release software, prior to
delivery.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
manufacturing consists of systems for the electronic security industries and
includes a range of access control, RFID and credentialing solutions. We
outsource the manufacturing for our PCB panels to a number of different
suppliers. We usually commit to a long-term relationship with such suppliers in
exchange for receiving competitive pricing. All panels and enclosures are built
to our engineering specifications. All panels are received in our manufacturing
facilities in the U.S. and then tested, assembled, and retested. Other products
are off-the-shelf products, which we purchase from a number of different
suppliers.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">All
activities for Existing Projects, such as purchasing, logistics, making
integration, installation and testing, are done by third parties according to
our instructions and under our supervision. Moreover, we continue to be
responsible to the customers of the Existing Projects.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Competition</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We assess
our competitive position from our experience and market intelligence, and from
reviewing third party competitive research materials.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">While
many companies are active in the homeland security market, few companies offer
products similar to RAPTOR and CSMS in the area of access control/perimeter
security for incident management. Additionally, there are many companies in the
broader security market that may offer competing products, but these companies
do not target governmental customers. We believe that Enterprise Air, Salamander
Technologies, Raytheon and Corestreet may offer products that compete with
RAPTOR and CSMS in the governmental market, and that Zebra, RF Code, Axcess,
Ekahau, Pango Networks and Aeroscout are potential competitors, in niche areas,
to us with respect to our active RFID tracking products.&#160;&#160;The EAC
market is also crowded with large companies like Lenel, Honeywell, Stanley
Works, UTC, Assa Abloy and HIRSCH, as well as certain smaller companies. We
offer unique capability of having the main ingredients (Active RFID, EAC
integrated software and Credentialing) in-house to provide day-to-day as well as
emergency situation solutions.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
management expects competition to intensify as the markets in which our products
and services compete continue to develop. Some of our competitors may be more
technologically sophisticated or have substantially greater technical,
financial, or marketing resources than we do, or may have more extensive
pre-existing relationships with potential customers. Although we believe that
our products combine technologies and features that provide customers with
complete and comprehensive solutions, we cannot assure you that other companies
will not offer similar products in the future or develop products and services
that are superior to our products and services, achieve greater customer
acceptance or have significantly improved functionality as compared to our
products and services. Increased competition may result in our experiencing
reduced margins, loss of sales or decreased market shares.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Due to
the developing nature of the markets for our<font style="DISPLAY: inline; FONT-STYLE: italic">&#160;</font>CSMS and RAPTOR and
active RFID tracking products and the ongoing changes in this market, the
above-mentioned list may not constitute a full list of all of our competitors
and additional companies may be considered our competitors.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">39</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Intellectual
Property</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Our
ability to compete is dependent on our ability to develop and maintain the
proprietary aspects of our technology. We rely on a combination of trademark,
copyright, trade secret and other intellectual property laws, employee and
third-party nondisclosure agreements, licensing and other contractual
arrangements and have also applied for patent protection to protect our
proprietary technology and intellectual property. However, these legal
protections afford only limited protection for our proprietary technology and
intellectual property.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>In addition, the laws of certain
foreign countries may not protect our intellectual property rights to the same
extent as do the laws of Israel or the U.S. Our means of protecting our
intellectual property rights in Israel, the U.S. or any other country in which
we operate may not be adequate to fully protect such rights. For instance, the
intellectual property rights of our Asian subsidiary, SuperCom Asia Pacific may
not be fully protected by the laws of Hong Kong and the People&#8217;s Republic of
China.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Patents</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
patent portfolio currently consists of two issued U.S. patents, four U.S. patent
applications and one PCT. Generally, these patents, applications and PCTs relate
to our government solutions and access control technologies.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We intend
to file additional patent applications when and if appropriate. There is no
guarantee that patentable inventions will arise from our research and
development efforts and, if we do apply for patent protection for such
inventions, there is no guarantee that it will be granted.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
addition, not all countries provide legal protection of proprietary technology
to the same extent. There can be no assurance that the measures taken by us to
protect our proprietary technologies are or will be sufficient to prevent
misappropriation of our technologies or portions thereof by unauthorized third
parties or independent development by others of similar technologies or
products. In addition, regardless of whether our products infringe on the
proprietary rights of third parties, infringement or invalidity claims may be
asserted or prosecuted against us and we could incur significant expenses in
defending them. Our costs could also increase if we become obligated to pay
license fees as a result of these claims.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Licenses</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
license technology and software, such as operating systems and database
software, from third parties for incorporation into our systems and products and
we expect to continue to enter into these types of agreements for future
products. Our licenses are either perpetual or for specific terms.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As part
of the OTI Transaction, we received an irrevocable, worldwide, non-exclusive,
non-assignable and non-transferable license to use, in connection with the
Existing Projects, the intellectual property that we transferred to OTI.
Generally speaking, the license will be valid for the duration of all Existing
Projects.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Government
Regulation</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We are
subject to certain labor statutes and to certain provisions of collective
bargaining agreements between the Histadrut (the General Federation of Labor in
Israel) and the Coordinating Bureau of Economic Organizations, including the
Industrialists&#8217; Association, with respect to our Israeli employees. In addition,
some of our Israeli employees are also subject to minimum mandatory military
service requirements. (See the discussion under the caption &#8220;Employees&#8221; in
Section D of Item 6.)</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Generally,
we are subject to the laws, regulations and standards of the countries in which
we operate and/or sell our products, which vary substantially from country to
country. The difficulty of complying with these laws, regulations and standards
may be more or less difficult than complying with applicable U.S. or Israeli
regulations, and the requirements may differ.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Employees</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of
December 31, 2008 we had 52 full-time employees, compared to 70 full-time
employees as of December 31, 2007.&#160;&#160;(See the discussion under the
caption &#8220;Employees&#8221; in Item 6.D.)</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">40</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
ability to succeed depends, among other things, upon our continuing ability to
attract and retain highly qualified managerial, technical, accounting, sales and
marketing personnel.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Seasonality</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
financial and operating results have fluctuated in the past and our financial
and operating results could fluctuate in the future. The period between our
initial contact with a potential customer and the sale of our products and
services is often long and subject to delays associated with the budgeting,
approval and competitive evaluation processes that frequently accompany
significant capital expenditures, particularly by governmental agencies. The
typical sales cycle for our government customers has to date ranged from three
to 36 months and the typical sales cycle for our commercial customers has ranged
from one to six months. A lengthy sales cycle may have an impact on the timing
of our revenue, which may cause our quarterly operating results to fall below
investor expectations. We believe that a customer's decision to purchase our
products and services is discretionary, involves a significant commitment of
resources, and is influenced by customer budgetary cycles or federal and state
grants. To successfully sell our products and services, we generally must
educate our potential customers regarding their use and benefits, which can
require significant time and resources. This significant expenditure of time and
resources may not result in actual sales of our products and
services.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
lead-time for ordering parts and materials and building many of our products can
be many months. As a result, we must order parts and materials and build our
products based on forecasted demand. If demand for our products lags
significantly behind our forecasts, we may produce more products than we can
sell, which can result in cash flow problems and write-offs or write-downs of
obsolete inventory.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">41</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">C</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">.&#160;&#160;&#160;&#160;Organizational
Structure</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 20pt"></font>The diagram below shows Vuance Ltd.'s
holdings in its subsidiaries and affiliates as of June 20, 2009:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><img src="chart.jpg" alt=""></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Vuance,
Inc. (formerly, SuperCom Inc.)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Vuance,
Inc., incorporated in Delaware, is our wholly-owned subsidiary, and is
responsible for our sales and marketing efforts in the U.S.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SuperCom
Asia Pacific Limited (&#8220;SuperCom Asia Pacific&#8221;)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SuperCom
Asia Pacific, incorporated in Hong Kong, has been our wholly-owned subsidiary
since November 2003, and is responsible for our sales and marketing efforts in
Asia Pacific.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Vuance
- - RFID Inc.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Vuance -
RFID Inc. (formerly, Pure RF Inc.) incorporated in Delaware in November 2005.
Upon its incorporation we owned 80% of its shares. During January 2006, Vuance -
RFID Inc. established a wholly owned Israeli subsidiary, Vuance RFID Ltd.
(formerly, Pure RF Ltd.), which focuses on new technologies and solutions for
the tracking of people and assets. During February 2007, we purchased the
remaining 20% of Vuance - RFID Inc. for&#160;&#160;$100,000, whereupon Vuance -
RFID Inc. became our wholly-owned subsidiary. In August 2007, all the employees
of Vuance RFID Ltd. were transferred to us, and on December 31, 2007 we
purchased all of the assets and liabilities of Vuance RFID Ltd. Commencing year
2008, Vuance RFID Inc. engages in an activity to distribute complementary locks
and electronic locks. This activity was terminated in the fourth quarter of 2008
and it is presented in the financial reports, as discontinued
operations.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SBC
Aviation Ltd.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SBC
Aviation Ltd., incorporated in Israel in the fourth quarter of 2006, is our
wholly-owned subsidiary, which commenced operations in 2007, and focuses on
executing information technology and security projects.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SuperCom
Slovakia A.S. (&#8220;SuperCom Slovakia&#8221;)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SuperCom
Slovakia, incorporated in Slovakia, was established to implement a national
documentation project in the Republic of Slovakia. SuperCom Slovakia is 66%
owned by us and 34% owned by EIB Group a.s., a privately held Czech company.
Despite our ownership of almost two-thirds of the economic interests of SuperCom
Slovakia, our voting power in SuperCom Slovakia is 50%.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">42</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">D.&#160;&#160;&#160;&#160;Property,
Plants and Equipment</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We
do not own any real estate property.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We lease
approximately 2,224 square meters of facilities in Qadima, Israel under a
five-year lease contract, currently expiring on October 31, 2010. We have an
option to renew the lease for an additional period of five years. According to
the agreement, the monthly fee is approximately $16,000. As a result of the OTI
Transaction, we leased to OTI certain portions of our leased facilities for a
monthly fee of $11,000, for a period of one year, commencing on December 31,
2006. During the first quarter of 2008, OTI moved out and we currently sublease
this space to three different companies.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Vuance
Inc. leases several facilities in Franklin, WI, Peachtree City, GA and Gardner,
MA of approximately 391, 465 and 441 square meters, respectively. The monthly
fee of the facility in Franklin, WI is $6,200 and the total monthly fee of all
such other leased facilities is $3,700.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Vuance,
Inc. also leases a facility in Rockville, Maryland of approximately 214 square
meters for a monthly fee of $4,800 which is subleased for a monthly fee of
$4,100.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In 2009,
Vuance Inc. signed additional lease agreements in Wisconsin and Texas, of
approximately 836 and 228 square meters, respectively. The monthly lease amount
for the facilities is $4,500 with eight months free rent and $1,200, with six
months free rent, respectively.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SuperCom
Asia Pacific leases approximately 130 square meters of office space in Hong Kong
for a monthly lease amount of $4,300.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">All such
leased properties in the U.S. and Hong Kong consist of office space for
management, administrative, operation, sales and marketing
activities.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
total annual rental fees for 2006, 2007 and 2008 were $354,530, $376,295 and
$440,130, respectively. The total annual lease commitments for 2009 are
$464,000.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;All
assets are held in the name of Vuance Ltd. and its subsidiaries.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
following table details our fixed assets as of December 31, 2007 and
2008:</font></div>
    <div>
      <div align="left">
        <div align="center">
          <div style="MARGIN-LEFT: 63pt" align="left">
            <table cellpadding="0" cellspacing="0" width="80%">
                <tr>
                  <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="6" nowrap valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">December&#160;31,</font></font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr>
                  <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2007</font></font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2008</font></font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr>
                  <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="6" nowrap valign="bottom" width="22%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(In&#160;thousands&#160;of&#160;US&#160;Dollars)</font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="76%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cost:</font></div>
                  </td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Computers
      and peripheral equipment</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">287</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">354</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Office
      furniture and equipment</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">193</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">193</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Leasehold
      improvements</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">33</font></font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">39</font></font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">513</font></font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">586</font></font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="76%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accumulated
      depreciation:</font></div>
                  </td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Computers
      and peripheral equipment</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">183</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">243</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Office
      furniture and equipment</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">92</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">103</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Leasehold
      improvements</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">20</font></font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">22</font></font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">295</font></font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">368</font></font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Depreciated
      cost:</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">218</font></font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">218</font></font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
            </table>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Depreciation
expenses for the years ended December 31, 2006, 2007 and 2008 were $335,000,
$38,000 and $73,000, respectively.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
4A.&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-STYLE: italic">Unsolved Staff
Comments.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
applicable.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">43</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
5.&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-STYLE: italic">Operating and Financial Review and
Prospects.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">A.&#160;&#160;&#160;&#160;Operating
results</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
following section should be read in conjunction with our consolidated financial
statements and the related notes thereto, which have been prepared in accordance
with U.S. GAAP and which are included in Item 18. Some of the statements
contained in this section constitute &#8220;forward-looking statements.&#8221; These
statements relate to future events or to our future financial performance and
involve known and unknown risks, uncertainties and other factors that may cause
our actual results, levels of activity, performance or achievements to be
materially different from any future results, levels of activity, performance or
achievements expressed or implied by such forward-looking statements. (See &#8220;Note
Regarding Forward Looking Statements&#8221; at the beginning of this report, and &#8220;Risk
Factors&#8221; In Item 3.D)</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Overview</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We were
established in 1988 in Israel under the name &#8220;SuperCom Ltd.&#8221; On April 29, 2007,
our shareholders approved the change of the Company&#8217;s name to Vuance Ltd.,
effective as of May 14, 2007. Our ordinary shares have been listed for trading
on the Euronext Brussels stock market since October 23, 2003, initially under
the symbol &#8220;SUP,&#8221; and following our name change, under the symbol &#8220;VUNC.&#8221; We
applied for delisting of our shares from the Euronext Brussels stock market, and
our application was approved on May 6, 2008, effective August 4,
2008.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">From
November 5, 2004 to August 23, 2007, the Company&#8217;s ordinary shares traded on the
OTC Bulletin Board, initially under the symbol "SPCBF.OB" and following our name
change, under the symbol, &#8220;VUNCF.OB.&#8221; Since August 23, 2007, our ordinary shares
have been listed for trading on NASDAQ under the symbol &#8220;VUNC.&#8221; Upon the
commencement of trading of our ordinary shares on NASDAQ, our ordinary shares
ceased to trade on the OTC Bulletin Board<font style="DISPLAY: inline; FONT-WEIGHT: bold">.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
December 11, 2008, we received a letter from NASDAQ advising us that we did not
comply with the Listing Requirements. As a result, the NASDAQ Staff began
reviewing our eligibility for continued listing on NASDAQ. To facilitate their
review, the NASDAQ Staff requested that we provide our specific
Plan.&#160;&#160;After we submitted the Plan, on March 30, 2009 we received
further correspondence from NASDAQ that we did not comply with the Listing
Requirements, and therefore, trading of our ordinary shares would be suspended
at the opening of business on April 8, 2009, and a form 25-NSE would be filed
with the SEC removing our securities from listing and registration on NASDAQ,
unless we requested an appeal of the delisting decision by
NASDAQ.&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
appealed the NASDAQ determination to a NASDAQ Listings Qualifications Panel (the
&#8220;Panel&#8221;), which automatically stayed the delisting of our ordinary shares until
the Panel reached a decision.&#160; On June 17, 2009, the Panel granted our
request for an extension of time to achieve full compliance with the Listing
Requirements.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Panel&#8217;s decision, and our continued listing on NASDAQ, is subject to our
compliance with certain conditions, including demonstration that we have
regained compliance with the Listing Requirements by September 28, 2009. While
we are executing on its plan to regain compliance, there can be no assurance
that we will be able to do so.&#160;&#160;Should we be unable to meet the
exception requirement, the Panel will issue a final determination to delist our
shares and, unless the NASDAQ Listing and Hearings Review Council issues a stay,
will suspend trading of our shares on NASDAQ effective on the second business
day from the date of the final determination and our ordinary shares could be
eligible for quotation and trading on the OTC Bulletin Board in accordance with
applicable rules and regulations.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
develop and market innovative RFID enabled solutions, including active RFID,
electronic access control, credentialing, accountability and critical situation
management, for public safety agencies, commercial customers and governmental
organizations. We offer three principal suite to our customers, as
follows:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Active
RFID</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Active
RFID is long, active radio frequency identification equipment that utilizes
active radio frequency communications to track assets, people and objects for
potential governmental agency and commercial customers. Our solutions are
programmable, small, sensitive and relatively cheap, providing significant
competitive advantages. Our branded active RFID solution, AAID, purchased in the
SHC transaction, is established and well-known in the market for tracking
vehicle and personnel.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">44</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Passive
RFID</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Electronic
Access Control (&#8220;EAC&#8221;) Suite</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EAC
applications provide increased security for enterprises, schools, office
buildings, warehouses and government facilities. Our solutions provide
credentials (secure badges), readers, door hardware, sensing devices, alarms,
controllers and host hardware and software to help maintain security at these
facilities. We provide these solutions through several branded
offerings:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 18pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8226;</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">MASC</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Managed
Automated Security Controls is an integrated solution designed for larger
commercial enterprises. MASC helps organizations to control access,
communications, and other security solutions from an integrated platform (such
as airports, banks, hospitals, and correctional facilities).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 18pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8226;</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">COMPASS</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">COMPASS
is used by schools and universities (Columbine, Virginia Tech and Rutgers, among
others) and by governmental agencies and commercial enterprises (such as Prince
Williams County).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 18pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8226;</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Insignia
      and Clarity</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Insignia
and Clarity together constitute a software hardware solution sold by
distributors to smaller businesses.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 18pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8226;</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Intelli-Site
      software</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Intelli-Site
software package for managed integrated security solutions.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Credentialing
&amp; Incident Management Suite:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Credentialing
      ("RAPTOR")</font></font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Cutting-edge
storage and secure retrieval system for credentialing, authenticating,
verifying, validating, and managing personnel, advanced tracking and logistics,
designed especially for state and local governments, critical infrastructure,
and first responders.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Critical Situation Management
      System ("CSMS")</font></font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Management
system, for first responders currently in use in the U.S., a customizable
solution for credentialing, incident management, accountability and virtual
access control. We have an extensive product line, with smart cards, both
standalone and handheld readers, and interoperable communications equipment.
Credentialing and Incident Management systems utilize both passive and active
RFID technology, creating a unique and comprehensive solution unmatched in the
industry. CSMS applications target the following industries: Law Enforcement,
Fire Rescue, Homeland and Site Security and Emergency Management.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>In addition, we have several continuing
projects relating to the E-ID Division we sold to OTI (see the section captioned
&#8220;The OTI Transaction&#8221; in Item 4.A and the section captioned &#8220;Former E-ID
Division&#8221; in Item 4.B).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We sell
our products through centralized marketing offices in the U.S. and Hong-Kong. We
have two wholly-owned marketing subsidiaries: Vuance Inc. in the U.S. and
SuperCom Asia Pacific Limited in Hong Kong.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>During the fourth quarter of 2005, we
established a new Delaware subsidiary in which we initially owned 80% of the
shares, Vuance - RFID Inc. (formerly, Pure RF Inc.), which began operations
during the first quarter of 2006. During the first quarter of 2006, Vuance -
RFID Inc. established a wholly-owned Israeli subsidiary, Vuance RFID Ltd.
(formerly, Pure RF Ltd.). Vuance - RFID Inc. and Vuance RFID Ltd. focus on new
technologies and solutions for active tracking of people and objects. During
February 2007, we purchased the remaining 20% of Vuance - RFID Inc. from its
minority shareholder for $100,000, whereupon Vuance - RFID Inc. became our
wholly-owned subsidiary. On August 2007, all the employees of Vuance RFID Ltd.
were transferred to Vuance, and on December 31, 2007, we purchased the assets
and liabilities of Vuance RFID Ltd. Commencing in 2008, Vuance - RFID Inc.
engaged in an activity to distribute complementary locks and electronic locks.
This activity was terminated in the fourth quarter of 2008 and it is presented
in the financial reports, as discontinued operations.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
the fourth quarter of 2006, we established a new wholly-owned Israeli
subsidiary, S.B.C. Aviation Ltd., which commenced operations in 2007, and
focuses on executing information technology and security projects.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">45</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
November 8, 2006, we announced the execution of the OTI Transaction (see Item
4.A above under the caption &#8220;The OTI Transaction&#8221;). As a result of the OTI
Transaction, we recognized $10,536,000 as capital gain on the sale of the E-ID
Division in fiscal year 2006. The capital gain was calculated based on OTI&#8217;s
share price on the closing date of the transaction, less a discount due to the
lock-up restrictions on the shares (based on an independent appraisal), the
carrying value of the assets that were transferred to OTI and direct expenses
(in an amount of $1,550) associated with the sale. As a result of the OTI
Transaction, we terminated the employment of certain employees that were
employed by us in the E-ID Division.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On July
3, 2007, we entered, through our wholly-owned subsidiary, Vuance, Inc., into an
agreement (the &#8220;SHC Purchase Agreement&#8221;) to acquire all of the issued and
outstanding stock capital of Security Holding Corp. (&#8220;SHC&#8221;) from Homeland
Security Capital Corporation (OTCBB: HMSC.OB) (&#8220;HMSC&#8221;) and other minority
shareholders (collectively, &#8220;Sellers&#8221;) for approximately $4,335,000 in our
ordinary shares and direct expenses of approximately $600,000. The closing date
of this transaction was August 28, 2007 (&#8220;SHC Closing Date&#8221;). SHC was a Delaware
corporation engaged in the business of manufacturing and distributing
RFID-enabled solutions, access control and security management systems. As
consideration for the acquisition of the stock capital of SHC, 1,097,426
ordinary shares of the Company were issued to the Sellers. Subject to certain
terms and conditions, in the event that we seek to register any of our ordinary
shares under the Securities Act of 1933 for sale to the public, for our own
account or the account of others, then at HMSC&#8217;s request, we will use our
reasonable best efforts to include our shares owned by HMSC in such
registration. The Sellers agreed to a lock-up period during which, subject to
certain exceptions, they will not sell or otherwise dispose of our shares. The
restrictions on making such transactions will expire for HMSC in eight equal
installments, commencing on the end of the first calendar quarter following the
SHC Closing Date and each of the seven calendar quarters thereafter, and for the
other Sellers, in twelve equal installments, commencing on the end of the first
calendar quarter following the SHC Closing Date and each of the eleven calendar
quarters thereafter. HMSC also agreed that during such restriction period, upon
the occurrence of any sale by HMSC of our shares due to HSMC&#8217;s bankruptcy,
insolvency or otherwise by operation of law, Vuance Inc. and the Company will
have a right of first refusal to purchase all (but not less than all) of our
shares held by HSMC on certain terms and conditions. HMSC further agreed to
grant an irrevocable power of attorney to the Chairman of the Board of Directors
of the Company to exercise all voting rights related to its Vuance shares until
the sale or transfer of such Vuance shares by HMSC to an unaffiliated third
party in an arm&#8217;s-length transaction. As part of the SHC Purchase Agreement,
certain Sellers will assume, subject to certain exceptions, certain
non-competition and employee non-solicitation undertakings for a period of two
years commencing on the SHC Closing Date. We guaranteed all of the obligations
of Vuance Inc. under the SHC Purchase Agreement. During the fourth quarter of
2007, SHC and its subsidiaries were dissolved and merged into Vuance
Inc.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
September 2007, we announced that we had entered into a definitive agreement to
acquire, through our U.S. subsidiary, Vuance Inc., the credentialing division of
Disaster Management Solutions Inc., for approximately $100,000 in cash and up to
$650,000 in royalties that will be paid upon sales of the advanced first
responder credentialing system (named &#8220;RAPTOR&#8221;) during the first twelve months
following the acquisition (the closing was in August 2007). This acquisition
complemented our incident management solutions business and added RAPTOR to our
Credentialing &amp; Incident Management Suite.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On March
25, 2009 we and our subsidiary, Vuance, Inc., completed the acquisition of
certain of the assets and certain of the liabilities of Intelli-Site., pursuant
to an asset purchase agreement dated March 6, 2009 with Intelli-Site and ISSI.
On the date of closing, Vuance Inc agreed to pay Intelli-Site the Cash
Consideration and we issued to ISSI the Consideration Shares.&#160;&#160;In
addition to the payment of the Cash Consideration and the issuance of the
Consideration Shares, Vuance Inc. agreed to pay Intelli-Site and ISSI, as
applicable, in royalty payments, an amount of up to $600,000 in the aggregate,
based upon certain conditions, which shall be paid on a quarterly basis, within
thirty (30) days of the close of each quarter, and will be made 50% in cash to
Intelli-Site and the Royalty Shares to ISSI. The number of Royalty Shares to be
issued to ISSI shall be calculated on the basis of the weighted average closing
price of our ordinary shares for the fifteen (15) trading days preceding the
quarterly payment, subject to a minimum of $1.25. ISSI, or its permitted
transferee, agreed to lock-up the Consideration Shares and Royalty Shares, as
applicable, pursuant to which ISSI or its transferee will not offer, sell,
transfer or otherwise dispose of the Consideration Shares or the Royalty Shares,
except the restrictions on the transfer of the Consideration Shares and the
Royalty Shares will expire in eight equal installments, commencing with the end
of the first calendar quarter following the date of closing and each of the
seven following calendar quarters thereafter.&#160;&#160;If any Consideration
Shares or Royalty Shares are issued after the last day of the eighth calendar
quarter following the date of closing, such shares shall not be subject to any
transfer restrictions.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">46</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-STYLE: italic">Revenues</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
Company and its subsidiaries generate their revenues from the sale of products,
maintenance, royalties and long term contracts including training and
installation. The sale of products involves the sale of active and passive RFID
products, CSMS RAPTOR and raw materials. Following delivery of such systems,
often the significant portion of revenues generated from the agreement results
from ongoing maintenance fees and support.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Our
systems are tailored to meet the specific needs of our customers. In order to
satisfy these needs, the terms of each agreement, including the duration of the
agreement and prices for our products and services differ from agreement to
agreement.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-STYLE: italic"> Operating
Expenses</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Our
costs associated with a particular project may vary significantly depending on
the specific requirements of the customer, the terms of the agreement, as well
as on the extent of the technology licensing. As a result, our gross profits
from each project may vary significantly.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Our
research and development expenses consist of salaries, raw material,
subcontractors, equipment costs and rent allocated to research and development
activities, as well as related supplies and travel and entertainment
costs.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;&#160;&#160;&#160;</font>Our
selling and marketing expenses consist primarily of salaries and commissions
earned by sales and marketing personnel, trade show, promotional expenses and
rent allocated to selling and marketing activities, as well as related supplies
and travel and entertainment costs.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Our
general and administrative expenses consist primarily of salaries, benefits,
allocated rent and supplies, and related costs for our executive, finance,
legal, human resource, information technology and administrative personnel, and
professional service fees, including legal counsel, insurance and audit
fees.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Net
Income</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Our
operating results are significantly affected by, among other things, the timing
of contract awards and the performance of agreements. As a result, our revenues
and income may fluctuate substantially from quarter to quarter, and comparisons
over longer periods of time may be more meaningful. The nature of our
expenses&#160;&#160;is mainly fixed or semi-fixed and any fluctuation in
revenues will generate a significant variation in gross profit and net
income.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Critical
Accounting Policies and Estimates</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
preparation of financial statements requires us to make estimates and
assumptions that affect the reported amounts of assets and liabilities and the
disclosure of contingent liabilities at the date of the financial statements,
and the reported amounts of revenues and expenses during the reporting period.
We evaluate our estimates and judgments on an ongoing basis, including those
related to revenue recognition, allowance for bad debts, contingencies,
stock-based compensation, and valuation of inventories and impairment of
long-lived assets (including goodwill and intangible assets).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We
base our estimates and judgments on historical experience and on various other
factors that we believe to be reasonable under the circumstances, the results of
which form the basis for making judgments about the carrying values of assets
and liabilities that are not readily apparent from other sources. Under
different assumptions or conditions, actual results may differ from these
estimates.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Our
discussion and analysis of our financial condition and results of operations are
based on our consolidated financial statements, which have been prepared in
accordance with generally accepted accounting principles in the U.S. ("US
GAAP"). Our significant accounting principles are presented within Note 2 to our
Consolidated Financial Statements. While all the accounting policies impact the
financial statements, certain policies may be viewed to be critical. These
policies are those that are most important to the portrayal of our financial
condition and results of operations. Actual results could differ from those
estimates. Our management believes that the accounting policies which affect the
more significant judgments and estimates used in the preparation of our
consolidated financial statements and which are the most critical to fully
understanding and evaluating our reported results include the
following:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">47</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#183;&#160;&#160;&#160;&#160;&#160; </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Revenue
recognition;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#183;</font>&#160;&#160;&#160;&#160;&#160;&#160;Allowance for doubtful
accounts;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#183;</font>&#160;&#160;&#160;&#160;&#160;&#160;Contingencies;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#183;</font>&#160;&#160;&#160;&#160;&#160;&#160;Stock Based
Compensation;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#183;</font>&#160;&#160;&#160;&#160;&#160;&#160;Goodwill and other intangible
assets; and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#183;</font>&#160;&#160;&#160;&#160;&#160;&#160;Going concern.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Revenue
Recognition</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
generate our revenues from the sale of products, maintenance, royalties and long
term contracts including training and installation. The sale of products
involves the sale of active and passive RFID products, CSMS and raw materials.
We sell our products in the U.S. through distributors, through our local
subsidiary in Asia Pacific and directly in the rest of the world.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 0.55pt"></font>Product sales are recognized in
accordance with Staff Accounting Bulletin No.&#160;104, &#8220;Revenue Recognition&#8221;
(&#8220;SAB No.&#160;104&#8221;), when persuasive evidence of an agreement exists, delivery
of the product has occurred, the fee is fixed or determinable, collectability is
probable, and inconsequential or perfunctory performance obligations remain. If
the product requires specific customer acceptance, revenue is deferred until
customer acceptance occurs or the acceptance provision lapses.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;We
recognize certain long-term contract revenues in accordance with Statement of
Position (&#8220;SOP&#8221;) 81-1, &#8220;Accounting for Performance of Construction-Type and
Certain Production Type Contracts.&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
to SOP 81-1, revenues from these contracts are recognized under the percentage
of completion method.&#160;&#160;We measure the percentage of completion based
on output or input criteria, such as contract milestones, percentage of
engineering completion or number of units shipped, as applicable in each
contract.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Provisions
for estimated losses on uncompleted contracts are made during the period in
which such losses are first identified, in the amount of the estimated loss on
the entire contract. As of December 31, 2008, no such estimated losses were
identified.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
believe that the use of the percentage of completion method is appropriate,
since we have the ability, using the also independent subcontractor's
evaluation, to make reasonably dependable estimates of the extent of progress
made towards completion, contract revenues and contract costs.&#160;&#160;In
addition, contracts executed include provisions that clearly specify the
enforceable rights of the parties to the contract, the consideration to be
exchanged and the manner and the terms of settlement. In all cases, we expect to
perform our contractual obligations and the parties are expected to satisfy
their obligations under the contract.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
contracts that do not meet all the conditions mentioned above, we utilize zero
estimates of profits; equal amounts of revenue and cost are recognized until
results can be estimated with sufficient accuracy.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Revenues
and costs recognized pursuant to SOP 81-1 on contracts in progress are subject
to management estimates.&#160;&#160;Actual results could differ from these
estimates.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We are
not obligated to accept returned products or issue credit for returned products,
unless a product return has been approved by us in advance and is according to
specific terms and conditions. As of December 31, 2008 we had an allowance for
customer's returns in the amount of $88,000.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;We
applied the provisions of EITF Issue No. 00-21 &#8220;Revenue Arrangements with
Multiple Deliverables&#8221; for multiple element arrangements. EITF Issue No. 00-21
provides guidance on how to account for arrangements that involve the delivery
or performance of multiple products, services and/or rights to use assets. For
such arrangements, each element of the contract is accounted for as a separate
unit when it provides the customer value on a stand-alone basis and there is
objective evidence of the fair value of the related unit.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Maintenance
and support revenues included in multiple-element arrangements are deferred and
recognized on a straight-line basis over the term of the maintenance and support
agreement. For these multiple element arrangements, we account for each unit of
the contract (maintenance, support and services) as a separate unit, when each
unit provides value to the customer on a stand-alone basis and there is
objective evidence of the fair value of the stand-alone unit.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Deferred
revenues and customer advances include amounts received from customers for which
revenues have not been recognized.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">48</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We are
entitled to royalties upon of the issuance of a certificate. Such royalties are
recognized when the sales are reported to the Company (usually on a monthly
basis).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We derive
our revenues mainly from sale of hardware products and long term contracts that
include embedded software that management considers to be incidental. Such
revenues are recognized in accordance with SAB No. 104 and SOP 81-1, as
mentioned above. However, in limited circumstances, we provide software upgrades
with respect to the embedded software of hardware products sold to our customers
in the past. Such revenues are recognized when all criteria outlined in
Statement of Position No. 97-2 &#8220;Software Revenue Recognition&#8221; (&#8220;SOP No. 97-2&#8221;)
(as amended) are met: when persuasive evidence of an agreement exists, delivery
of the product has occurred (i.e. the services have been provided), no
significant obligations under the agreement remain, the fee is fixed or
determinable and collectability is probable.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Allowance for doubtful accounts</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
allowance for doubtful accounts is determined with respect to specific debts
that we have determined to be of doubtful collection.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
perform ongoing credit evaluations of our customers' financial conditions and we
require collateral as we deem necessary. An allowance for doubtful accounts is
determined with respect to those accounts that we have determined to be doubtful
of collection. If the financial conditions of our customers were to deteriorate,
resulting in an impairment of their ability to make payments, additional
allowances would be required. The allowance for doubtful accounts was $3,500,000
and $3,478,000 at December 31, 2007 and 2008, respectively.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Contingencies</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">From time
to time, we are the defendant or plaintiff in various legal actions, which arise
in the normal course of business. We are required to assess the likelihood of
any adverse judgments or outcomes to these matters as well as potential ranges
of probable losses. A determination of the amount of reserves required for these
contingencies, if any, which would be charged to earnings, is made after careful
and considered analysis of each individual action with our legal advisors. The
required reserves may change in the future due to new developments in each
matter or changes in circumstances, such as a change in settlement strategy. A
change in the required reserves would affect our earnings in the period the
change is made. Other than as described under the heading &#8220;Legal Proceedings&#8221; in
Item 8, there are no material pending legal proceedings in which we are a party
or of which our property is subject.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Stock-Based
Compensation</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Until
December 31, 2005, we applied the intrinsic-value-based method of accounting
prescribed by Accounting Principles Board (&#8220;APB&#8221;) Opinion No. 25, &#8220;Accounting
for Stock Issued to Employees,&#8221; and related interpretations to account for our
employee stock options. Under this method, compensation expense was recognized
only if the current market price of the underlying stock exceeded the exercise
price on the date of the grant.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">However,
as more fully described in note 2(v) to the accompanying financial statement, on
January 1, 2006 we adopted SFAS No. 123R, &#8220;Share-Based Payment&#8221; (SFAS 123R), a
revision of SFAS 123. Among other items, SFAS 123R eliminated the use of APB 25
and the intrinsic value method of accounting, and requires companies to
recognize in their financial statements the cost of employee services received
in exchange for awards of equity instruments, based on the fair value of those
awards at the grant date.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
adopted SFAS 123R, using the modified prospective method, as permitted under the
standard.&#160; Under this method, the Company is required to record
compensation expense for all awards granted after the date of adoption in
accordance with the provisions of SFAS 123R and for the unvested portion of
previously granted awards that remain outstanding at the date of adoption in
accordance with the original provisions of SFAS 123.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Goodwill
and other intangible assets</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Under
SFAS No. 142, Goodwill and Other Intangible Assets, goodwill acquired in a
business combination is deemed to have indefinite life and is not to be
amortized. SFAS No.142 requires goodwill to be tested for impairment at least
annually or between annual tests in certain circumstances, and written down when
impaired, rather than being amortized. Goodwill is tested for impairment by
comparing the fair value of the reporting unit with its carrying value. Fair
value is determined using the income approach. Significant estimates used in the
methodologies include estimates of future cash flows and estimates of discount
rates.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">49</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As part
of the annual review for impairment in accordance with SFAS No. 142 and 144, in
November 2008, we&#160;examined the fair value of the intangible assets and the
goodwill and in doing so, considered in part, a third party expert services.
The&#160;valuation referred to Vuance, Inc. as a single reporting unit. The
valuation was conducted on a going concern basis. Since Vuance, Inc. is
closely-held, and thus without a public market for its ownership interests, the
appraisal was conducted according to common appraisal practices, and based on
the Free Discounted Cash-Flows ("DCF") method.&#160;&#160;In addition, we
received market indication with respect to the fair value of Vuance, Inc. in the
first quarter of 2009. Based on the above we were required to recognize an
impairment loss in the amount of approximately $3,235,000.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Going
concern</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
incurred substantial losses and negative cash flows from operations since our
inception. We had an operating cash flow deficit in each of 2006, 2007, and
2008. As of December&#160;31, 2008, we had an accumulated deficit of
approximately $42,294,000. We incurred net losses of approximately $11,311,000
and $12,358,000 in the years ended December 31, 2007 and December 31, 2008,
respectively. For the year ended December 31, 2006, we would have incurred a net
loss of $5,096,000, excluding the $10,536,000 capital gain from the sale of the
e-ID Division. We expect to have net operating losses and negative cash flows
for the foreseeable future, and expect to spend significant amounts of capital
to enhance our products and services, develop further sales and operations and
fund expansion. As a result, we will need to generate significant revenue to
achieve profitability. Even if we do achieve profitability, we may not be able
to sustain or increase profitability on a quarterly or annual basis.
Continuation of our current operations after utilizing our current cash reserves
is dependent upon the generation of additional financial resources either
through fund raising or the sale of certain assets. These matters raise
substantial doubt about our ability to continue as a going concern. The
financial statements have been prepared assuming that we will continue as a
going concern. The financial statements do not include any adjustments that
might result from the outcome of this uncertainty.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">50</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Results
of Operations</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
following table sets forth selected consolidated income statement data for the
Company for each of the three years ended December 31, 2006, 2007 and 2008
expressed as a percentage of total revenues.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <div align="center">
          <div align="center">
            <div align="left">
              <table cellpadding="0" cellspacing="0" width="90%">
                  <tr>
                    <td valign="bottom" width="64%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2006</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr>
                    <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="64%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Revenues</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">100</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%(**)</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">100</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%(**)</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">100</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="64%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cost
      of revenues</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">39.0</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">42.1</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">40.9</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="64%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Gross
      profit</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">61.0</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">57.9</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">59.1</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="64%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating
      expenses</font></div>
                    </td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="64%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Research
      and development</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15.2</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12.9</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12.4</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="64%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Selling
      and marketing, net</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">62.8</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">67.9</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">57.7</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="64%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">General
      and administrative</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">30.6</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">24.0</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">16.0</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="64%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Impairment
      loss</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15.7</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="64%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Litigation
      settlement expenses</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.2</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.3</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(*)</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="64%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      operating expenses</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">109.8</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">105.1</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">101.8</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="64%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Capital
      gain from the sale of the E-ID Division</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">117.8</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="64%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating
      income (loss)</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">69.0</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(47.2</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(42.7</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="64%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Financial
      income (expenses), net</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.3</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(34.9</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(15.1</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="64%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other
      income (expenses), net</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(4.1</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="64%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income
      (loss) before income taxes</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">62.6</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(82.1</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(57.8</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="64%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Taxes
      on income</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.6</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)(**)</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.9</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)(**)</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.7</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="64%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Loss
      from discontinued operations</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.3</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="64%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      income (loss)</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">61.0</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(85</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(59.8</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                  </tr>
              </table>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(*) Less
than 0.1%.</font></div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(**)
Certain comparative figures have been reclassified to conform to the current
period presentation.</font></div>
    </div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">51</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Operating
Results</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Year
Ended December 31, 2008 Compared to Year Ended December 31, 2007</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Revenues</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
revenues in 2008 were $20,653,000, compared to $13,314,000 in 2007, an increase
of 55%. The increase in our revenues is primarily due to our European Airport
Project for which we recognized revenues in 2008 in the amount of $9,722,000
compared to $2,181,000 in 2007 and due to the SHC transaction completed in
August 2007. Results for revenues in the year 2009 will be affected by our
ability to overcome the economic recession and generate sales in a more
difficult economic environment as well as our ability to perform under our new
agreements and purchase orders and collect the cash associated therewith. We
believe that the Existing Projects are essential to our success in the short
term and that the active RFID and Credentialing businesses will be critical to
our long-term success.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Gross
Profit</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our gross
profits in 2008 were $12,201,000 compared to $7,714,000 in 2007, an increase of
58.2%. The gross profit margin for the year 2008 increased by 1.2% to 59.1%. The
increase in our 2008 gross profit margin was primarily due to different mix of
products, which carry higher margins.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Expenses</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
operating expenses in 2008 were $21,037,000, compared to $13,983,000 in 2007, an
increase of 50%. The increase in operating expenses was mainly due to (a) the
impairment loss of goodwill in the amount of $3,235,000 in 2008 compared to $0
in 2007, and (b) the SHC transaction and an increase in selling and marketing
expenses related to promotion and commissions expenses due to the increase in
revenues.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Research
and development expenses consist primarily of salaries, benefits,
subcontractors, allocated overhead expense, supplies and equipment for software
developers and architects, hardware engineers and program managers, as well as
legal fees associated with our intellectual property. Our research and
development expenses in 2008 were $2,571,000, compared to $1,716,000 in 2007, an
increase of 50%. The increase in the research and development expenses was
primarily due to research and development expenses associated with our new
technologies, CSMS and RAPTOR and active RFID due to the SHC
transaction.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Selling
and marketing expenses consist primarily of salaries and commission earned by
sales and marketing personnel, promotion expenses, trade show expenses,
allocated overhead and supplies and travel and entertainment costs. Our selling
and marketing expenses in 2008 were $11,924,000, compared to $9,041,000 in 2007,
an increase of 32%. The increase in the sales and marketing expenses was
primarily due to the increase in sales promotion and commission expenses related
to the increase in revenues, labor expenses and an increase in sales and
marketing activities in the U.S. due to the SHC transaction.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">General
and administrative expenses consist primarily of salaries, benefits, allocated
overhead and supplies, and related costs for our executive, finance, legal,
human resource, information technology and administrative personnel, and
professional service fees, including legal counsel insurance and audit fees. Our
general and administrative expenses in 2008 were $3,299,000, compared to
$3,192,000 in 2007, an increase of 3%.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
impairment loss consists of an impairment of goodwill resulting from our
acquisition of SHC. Our impairment loss in 2008 was $3,235,000, compared to $0
in 2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Additionally,
litigation settlement expenses consist of one-time expenses that relate to
litigations that settled during the reported periods as described in "Legal
Proceedings" in Item 8. Our litigation settlement expenses in 2008 were $8,000,
compared to $34,000 in 2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Financial
Expenses, net</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Financial
expenses for the twelve months ended December 31, 2008 and 2007, were $3,113,000
and $4,652,000, respectively. The decrease in financial expenses is mainly due
to lower financial expenses related to our marketable securities. During 2008,
we realized losses from the sale of marketable securities in the amount of
$862,000, compared to $1,116,000 during 2007 and decrease in value of marketable
securities, net in the amount of $0 and $2,699,000 during the year ended 31,
December 2008 and 2007 respectively. This decrease was offset by an increase in
financial expenses with respect to Convertible Bonds in the amount of $2,214,000
and $745,000 in 2008 and 2007, respectively.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">52</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;&#160;&#160;Taxes on
income</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Taxes on
income are mainly expenses related to withholding tax at source related to our
project with a European country. Taxes on income for the twelve months ended
December 31, 2008 and 2007 were $137,000 and $390,000, respectively. The
decrease is mainly due to a change in the percentage of the withholding tax at
source.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;&#160;&#160;Loss from
discontinued operations</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Loss from
discontinued operations for the twelve months ended December 31, 2008 and 2007
were $272,000 and $0, respectively. The loss from discontinued operations in
2008 relates to Vuance - RFID Inc. activity to distribute complementary locks
and electronic locks which commenced in 2008 and was terminated in the fourth
quarter of 2008.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">&#160;&#160;Net
Loss</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As a
result of the factors described above, our net loss in 2008 was $12,358,000,
compared to a net income of $11,311,000 in 2007.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Year
Ended December 31, 2007 Compared to Year Ended December 31, 2006</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Revenues</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
revenues in 2007 were $13,314,000, compared to $8,941,000 in 2006, an increase
of 48.9%. The increase in our revenues is primarily due to our project with a
European airport for which we recognized revenues in 2007 in the amount of
$2,181,000, compared to $0 in 2006, our revenues from our National Multi ID
project with a European country which were $5,826,000 in 2007 compared to
$4,569,000 in 2006, and due to the SHC transaction. We believe that the Existing
Projects are critical to our success in the short term and that the active RFID
and Credentialing businesses will be critical to our long-term
success.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Gross
Profit</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our gross
profits in 2007 were $7,714,000 compared to gross profits of $5, 447,000 in
2006, an increase of 41.6%. The gross profit margin for the year 2007 decreased
by 3.1%, compared to 61% in 2006. The decrease in our 2007 gross profit margin
was primarily due to different mix of products, which carry lower
margins.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Expenses</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
operating expenses in 2007 were $13,983,000, compared to $9,826,000 in 2006, an
increase of 42%. The increase in operating expenses was mainly due to the SHC
transaction and an increase in selling and marketing expenses related to
promotion and commissions expenses due to the increase in revenues.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Research
and development expenses consist primarily of salaries, benefits,
subcontractors&#8217; allocated overhead expense, supplies and equipment for software
developers and architects, hardware engineers and program managers, as well as
legal fees associated with our intellectual property. Our research and
development expenses in 2007 were $1,716,000, compared to $1,362,000 in 2006, an
increase of 26%. The increase in the research and development expenses was
primarily due to research and development expenses associated with our new
technologies, CSMS and RAPTOR and active RFID due to the SHC
transaction.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Selling
and marketing expenses consist primarily of salaries and commission earned by
sales and marketing personnel, promotion expenses, trade show expenses,
allocated overhead and supplies and travel and entertainment costs. Our selling
and marketing expenses in 2007 were $9,041,000, compared to $5,619,000 in 2006,
an increase of 60.9%. The increase in the sales and marketing expenses was
primarily due to the increase in sales promotion expenses related to the
increase in revenues, labor expenses, an increase in sales and marketing
activities in the U.S. due to the SHC transaction and a different mix of
projects.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">53</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">General
and administrative expenses consist primarily of salaries, benefits, allocated
overhead and supplies, and related costs for our executive, finance, legal,
human resource, information technology and administrative personnel, and
professional service fees, including legal counsel insurance and audit fees. Our
general and administrative expenses in 2007 were $3,192,000, compared to
$2,737,000 in 2006, an increase of 16.6%. This increase was primarily due to the
SHC transaction.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Additionally,
litigation settlement expenses consist of one-time expenses that relate to
litigations that settled during the reported periods as described in "Legal
Proceedings"&#160;in Item 8. Our litigation settlement expenses in 2007 were
$34,000, compared to $108,000 in 2006.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Financial
Expenses, net</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Financial
expenses for the twelve months ended December 31, 2007 and 2006, were $4,652,000
and $204,000, respectively. The increase in financial expenses is mainly due to
a decrease in our marketable securities related to OTI's shares. During 2007, we
realized losses from the sale of marketable securities in the amount of
$1,116,000, compared to $0 during 2006 and decrease in value of marketable
securities, net in the amount of $2,699,000 and $0 during the year ended 31,
December 2007 and 2006 respectively and due to financial expenses with respect
to Convertible Bond that commenced in November 2006 in the amount of $75,000 and
$745,000 in 2006 and 2007, respectively.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Other
Expenses, Net</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Other
expenses, net for the twelve months ended December 31, 2007, and 2006, were $0
and $367,000, respectively. Other expenses, net during 2006 consisted of the
write-down of a loan relating to an investment in an affiliated company and
other trade receivables in the amount of $321,000, compared to $0 during the
year 2007.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Taxes
on income</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Taxes on
income are mainly expenses related to withholding tax at source related to our
project with a European country. Taxes on income for the twelve months ended
December 31, 2007 and 2006 were $390,000 and $146,000, respectively. The
increase is mainly due to the fact that the project commenced in August 2006 so
the revenue that are subject to withholding tax at source that were recognized
in 2006 reflect only 4.5 months compared to a full year during
2007.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Net
Loss</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As a
result of the factors described above, our net loss in 2007 was $11,311,000,
compared to a net income of $5,440,000 in 2006. For the year ended December 31,
2006, we would have incurred a net loss of $5,096,000, excluding the $10,536,000
capital gain from the sale of the E-ID Division.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Impact
of Inflation and Currency Fluctuations</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Because
the majority of our revenue is paid in or linked to the U.S. dollar, we believe
that inflation and fluctuation in the NIS/dollar exchange rate has limited
effect on our results of operations. However, a portion of the cost of our
Israeli operations, mainly personnel, is incurred in NIS. Because some of our
costs are in NIS, inflation in NIS/dollar exchange rate fluctuations do have
some impact on our expenses and, as a result, on our net income. Our NIS costs,
as expressed in dollars, are influenced by the extent to which any increase in
the rate of inflation in Israel is not offset, or is offset on a delayed basis,
by a devaluation of the NIS in relation to the dollar.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Historically,
the New Israeli Shekel has been devalued in relation to the U.S. dollar and
other major currencies principally to reflect the extent to which inflation in
Israel exceeds average inflation rates in Western economies. Such devaluations
in any particular fiscal period are never completely synchronized with the rate
of inflation and therefore may lag behind or exceed the underlying inflation
rate.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In 2008,
the rate of appreciation of the NIS against the U.S. dollar was 1.1% and the
rate of inflation, in Israel, was 3.8%. It is unclear what the
devaluation/evaluation and inflation rates will be in the future, and we may be
materially adversely affected if inflation in Israel exceeds the devaluation of
the NIS against the U.S. dollar or the evaluation of the NIS against the U.S.
Dollar, or if the timing of the devaluation lags behind increases in inflation
in Israel.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We do not
engage in any hedging or other transactions intended to manage risks relating to
foreign currency exchange rate or interest rate fluctuations. At December 31,
2008, we did not own any market risk sensitive instruments except for our
revolving line of credit. However, we may in the future undertake hedging or
other similar transactions or invest in market risk-sensitive instruments if our
management determines that it is necessary or advisable to offset these
risks.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">54</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Seasonality</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
quarterly operations are subject to fluctuations due to several factors,
including the factors discused under the caption &#8220;Risk Factors&#8212;The time from our
initial contact with a customer to a sale is long and subject to delays which
could result in the postponement of our receipt of revenues from one accounting
period to the next, increasing the variability of our results of operations and
causing significant fluctuations in our revenue from quarter to quarter&#8221;&#160;in
Item 3.D. &#160;It is our experience that, as a general matter, a majority of
our sales are made during the latter half of the calendar year consistent with
the budgetary, approval and order processes of our governmental agencies
customers. Additionally, the period between our initial contact with a potential
customer and the purchase of our products and services is often long and subject
to delays associated with the budgeting, approval and competitive evaluation
processes that frequently accompany significant expenses, particularly for
government and government agencies organizations. A lengthy sales cycle may have
an impact on the timing of our revenue, which may cause our quarterly operating
results to fall below investor expectations. We believe that a customer's
decision to purchase our products and services is discretionary, involves a
significant commitment of resources, and is influenced by customer budgetary
cycles. To successfully sell our products and services, we generally must
educate our potential customers regarding their use and benefits, which can
require significant time and resources. This significant expenditure of time and
resources may not result in actual sales of our products and services, which
could have an adverse effect on our results of operations.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">New
Accounting Pronouncements</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>SFAS No. 141(R), &#8220;Business
Combinations&#8221;</font><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
December 2007, the FASB issued SFAS No.&#160;141(R), &#8220;Business Combinations.&#8221;
This Statement will replace SFAS No.&#160;141, &#8220;Business Combinations&#8221; (&#8220;SFAS
141(R)&#8221;). SFAS 141(R) retains the fundamental requirements of SFAS 141 with
respect to the implementation of the acquisition method of accounting ("the
purchase method") for all business combinations and for the identification of
the acquirer for each business combination. This Statement also establishes
principles and requirements for how the acquirer recognizes and measures in its
financial statements the identifiable assets acquired, the liabilities assumed,
and any noncontrolling interest in the acquiree, how the acquirer recognizes and
measures the goodwill acquired in a business combination and the disclosure
requirements to enable users of the financial statements to evaluate the nature
and financial effects of the business combination.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SFAS
141(R) will apply prospectively to business combinations for which the
acquisition date is on or after December 15, 2008 (January 1, 2009 for the
Company). Early adoption of SFAS 141(R) is prohibited. The Company believes that
the initial adoption of SFAS 141R will not have a material impact on its
financial position and results of operations. However, due to the changes
described above, consummation of business combinations after the adoption of
SFAS 141R could significantly impact the consolidated financial statements as
compared to prior acquisitions which were accounted for under existing GAAP
requirements.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SFAS
No.&#160;160, &#8220;Noncontrolling Interests in Consolidated Financial
Statements&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
December 2007, the SFASB issued SFAS No.&#160;160, &#8220;Noncontrolling Interests in
Consolidated Financial Statements&#8221; (&#8220;SFAS 160&#8221;). This Statement amends ARB 51
and establishes accounting and reporting standards for the noncontrolling
(minority) interest in a subsidiary and for the deconsolidation of a subsidiary.
SFAS 160 clarifies that a noncontrolling interest in a subsidiary is an
ownership interest in the consolidated entity that should be reported as equity
in the consolidated financial statements. SFAS No.&#160;160 is effective for
fiscal years beginning on or after December 15, 2008 (January 1, 2009 for the
Company). Early adoption of SFAS 160 is prohibited. The Company believes that
the adoption of SFAS 160 will not have a material impact on its financial
position and results of operations.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FSP
SFAS&#160;142-3, &#8220;Determination of the Useful Life of Intangible
Assets&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In April
2008, the FASB issued FSP SFAS&#160;No. 142-3, &#8220;Determination of the Useful Life
of Intangible Assets&#8221; (&#8220;FSP FAS 142-3&#8221;). FSP SFAS 142-3 amends the factors that
should be considered in developing renewal or extension assumptions used to
determine the useful life of a recognized intangible asset under FASB Statement
No. 142, &#8220;Goodwill and Other Intangible Assets.&#8221;</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">55</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
pronouncement requires enhanced disclosures concerning a company&#8217;s treatment of
costs incurred to renew or extend the term of a recognized intangible asset. FSP
SFAS No. 142-3 is effective for financial statements issued for fiscal years
beginning after December&#160;15, 2008 (January 1, 2009 for the Company). Early
adoption is prohibited. The Company believes that the adoption of SFAS&#160;No.
142-3 will not have an impact on its financial position and results of
operations.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FSP
SFAS&#160;115-2 and SFAS&#160;124-2, Recognition and Presentation of
Other-Than-Temporary Impairments (&#8220;FSP&#160;SFAS 115-2
and&#160;124-2&#8221;)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
April&#160;9, 2009, the FASB issued FSP SFAS&#160;115-2 and 124-2 which is
intended to make the guidance more operational and improve the presentation and
disclosure of other-than-temporary impairments (&#8220;OTTI&#8221;) on debt and equity
securities in the financial statements. FSP SFAS 115-2 and 124-2 applies to debt
securities and requires that the total OTTI be presented in the statement of
income with an offset for the amount of impairment that is recognized in other
comprehensive income, which amount represents the noncredit component. Noncredit
component losses are to be recorded in other comprehensive income if an investor
can assess that (a)&#160;it does not have the intent to sell or (b)&#160;it is
not more likely than not that it will have to sell the security prior to its
anticipated recovery. FSP SFAS 115-2 and 124-2 is effective for interim and
annual periods ending after June&#160;15, 2009, with early adoption permitted
for periods ending after March&#160;15, 2009. FSP SFAS 115-2 and 124-2 will be
applied prospectively with a cumulative effect transition adjustment as of the
beginning of the period in which it is adopted. An entity early adopting FSP
SFAS 115-2 and 124-2 must also early adopt FSP SFAS 157-4 (as described below).
The Company is currently evaluating the impact of FSP SFAS 115-2 and 124-2 on
the consolidated financial statements.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FSP
SFAS&#160;157-4, Determining Fair Value When the Volume and Level of Activity
for the Asset or Liability Have Significantly Decreased and Identifying
Transactions that are not Orderly (&#8220;FSP SFAS 157-4&#8221;).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On April
9, 2009, the FASB issued FSP SFAS&#160;157-4 which provides additional guidance
on determining whether a market for a financial asset is not active and a
transaction is not distressed for fair value measurements under SFAS&#160;157,
Fair Value Measurements. FSP SFAS 157-4 will be applied prospectively and
retrospective application will not be permitted. FSP SFAS 157-4 will be
effective for interim and annual periods ending after June&#160;15, 2009, with
early adoption permitted for periods ending after March&#160;15, 2009. An entity
early adopting FSP SFAS 157-4 must also early adopt FSP SFAS&#160;115-2
and&#160;124-2.&#160;&#160;The Company is currently evaluating the impact of FSP
SFAS 157-4 on the consolidated financial statements.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">B.&#160;&#160;&#160;&#160;Liquidity
and Capital Resources</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Net cash
used in operating activities for the twelve months ended December 31, 2008 was
$5,264,000 compared to $4,890,000 during the period ended December 31, 2007, an
increase of $374,000, or 8%. Our net loss from continued operation for 2008 was
$12,086,000, less other adjustments reached to net cash used in operating
activities from continuing operations for the year 2008 of $4,732,000, less net
cash used in discontinued operation of $532,000 reached to net cash used in
operating activities for the year 2008 of $5,264,000 compared to a net loss for
2007 of $11,311,000, less other adjustments reached to net cash used in
operating activities for the year 2007 of $4,890,000.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Net cash
provided by investing activities during the period ended December 31, 2008 was
$4,136,000, compared to $4,774,000 during the period ended December 31, 2007, a
decrease of $638,000. This decrease was primarily due to the proceeds from the
sale of marketable securities in the amount of $3,192,000 during 2008, compared
to $7,639,000 during 2007. The decrease was offset by proceeds from restricted
cash deposit, net of $1,022,000 during 2008 compared to an investment in
restricted cash deposit, net of $2,313,000 during 2007, and capitalization of
software and intangible assets during 2008 of $0 compared to $509,000 in
2007.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Net cash
used in financing activities during the year ended December 31, 2008 was
$174,000, compared to $214,000 during the year ended December 31, 2007, a
decrease of $40,000.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of
December 31, 2008, our cash and cash equivalents totaled $812,000, compared to
$2,114,000 as of December 31, 2007. Restricted cash totaled $2,150,000 as of
December 31, 2008, compared to $3,172,000 as of December 31, 2007. The main
decrease in restricted cash deposit is related to a bank deposit to secure a
guarantee to a supplier, related to a certain project of the Company with a
European country which was paid to the supplier according to the agreement,
offset by cash which is pledged to our major Convertible Bond holder in
2008.&#160;&#160;Part of the Restricted cash is invested in&#160;&#160;deposits,
which mature within up to one year, and is used to secure agreements with a
customer or a bank, and the other part is cash which is pledged to our major
convertible bond holder. Marketable securities totaled $0 as of December 31,
2008, compared to $4,054,000 as of December 31, 2007. The decrease in the
marketable securities compared to December 31, 2007 was due to the sale of our
remaining OTI shares.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">56</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We
have accumulated net losses of approximately $42,294,000 from our inception
through December 31, 2008, and we have continued to accumulate net losses since
December 31, 2008. Since May 1999, we have funded operations primarily through
cash generated from our initial public offering on NASDAQ Europe in April 1999,
which resulted in total net proceeds of approximately $23,600,000 (before
offering expenses), and, to a lesser extent, from our sale of the shares of our
former subsidiary, InkSure Technologies, Inc., from borrowings from financial
institutions, from private placements of our ordinary shares and warrants to
purchase our ordinary shares, in 2004 and 2005,&#160;&#160;from issuance of
convertible bonds and warrants in 2006, 2007 and 2008 from the sale of OTI
shares that were received from the sale of the E-ID Division to OTI. As of
December 31, 2008, our principal source of liquidity was $812,000 of cash and
cash equivalents. As of December 31, 2008, we had $299,000 of debt outstanding
relating to obligations under our credit facility, Convertible Bonds of
$3,157,000 and an obligation for severance pay to Israeli employees of $378,000,
of which $314,000 is already covered by monthly deposits to severance pay funds
and insurance policies.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
June and July 2004, we received aggregate gross proceeds of $1,225,000 from the
private placement of 265,001 ordinary shares and five-year warrants to purchase
106,001 ordinary shares at an exercise price of $6.47 per share. In connection
with the private placement, our placement advisors received warrants to purchase
77,941 ordinary shares at an exercise price of $6.47 per share.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In August
and September 2004, we received gross proceeds of $2,200,000 from a private
placement to accredited investors of 420,000 ordinary shares and five-year
warrants to purchase 168,000 ordinary shares at an exercise price of $6.47 per
share. In connection with the private placement, our placement agent received
warrants to purchase 30,240 ordinary shares at an exercise price of $6.47 per
share and 75,601 ordinary shares at an exercise price of $5.00 per share. All of
such warrants issued in this private placement, except 75,601 warrants with an
exercise price of $5.00, were called by us at a redemption price of $0.0588 per
warrant pursuant to our right to do so if the closing price (or closing bid
price) of our ordinary shares on an U.S. stock exchange, NASDAQ or the OTC
Bulletin Board was equal to or greater than $14.70 per share for 10 out of any
15 consecutive trading days. The investors exercised warrants to purchase an
aggregate of 194,627 ordinary shares. During the fourth quarter of 2004, 120,176
warrants were exercised for an aggregate amount of approximately $778,000, and
approximately $130,000 was received with respect to shares to be allotted in
2005. During the year 2005, 54,451 warrants were exercised for an aggregate
amount of approximately $352,000.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
November and December of 2005, we received aggregate gross proceeds of
$3,050,000 from a private placement by certain investors of 836,292 ordinary
shares (of which 150,807 shares were issued after December 31, 2005) and
five-year warrants to purchase 292,701 ordinary shares at an exercise price of
$3.53 per share. The private placement was made to accredited investors pursuant
to Rule 506 of Regulation D, promulgated under the Securities Act of 1933, as
amended (the &#8220;Securities Act&#8221;) and to foreign private investors in offshore
transactions in reliance on Regulation S promulgated under the Securities Act.
In connection with the private placement, our placement agent received a cash
fee of $150,000 and our placement advisors received five-year warrants to
purchase 8,446 ordinary shares at an exercise price of $3.53 per share. The
investors that participated in this private placement were granted the right,
for one year following the closing of the private placement and subject to
certain limitations, to participate in future issuances of our capital stock or
securities (a &#8220;Subsequent Financing&#8221;) up to an amount which would permit each
investor to maintain its fully diluted percentage equity ownership at the same
level existing prior to the Subsequent Financing (after giving effect to such
Subsequent Financing). The warrants are callable, subject to certain
limitations, at our option if the closing bid price per ordinary share of our
ordinary shares equals or exceeds $7.06 for 20 trading days during the term of
the warrants. We may however only call, in any 3-month period, the lesser of (i)
20% of the aggregate amount of the warrants initially issued to a warrant
holder, or (ii) the total number of warrants then held by such
holder.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
November 2006, we raised $3,156,500 through the issuance of Units consisting of
Convertible Bonds and Warrants. Units valued at $2,500,000 were issued to a
single investor, and Units valued at $656,5000 were issued to Special Situation
Funds (SSF), based on the participation rights provided in a private placement
during 2005, which were existing shareholders. According to their original terms
the Convertible Bonds mature three years from the date of issuance and bear
interest at an annual rate of 8% (which was updated as described below). Any
withholding and other taxes payable with respect to the interest will be grossed
up and paid by us (approximately 3% of the principal of the bonds); payment of
interest will be net of any tax. Subject to certain redemption provisions, as
described below, the Convertible Bonds may be converted at any time, at the
option of the investors, into our ordinary shares at a conversion price of $5
per share (see amendment below). The investors were also granted Warrants
entitling them to acquire a total of 134,154 ordinary shares at an exercise
price of $5 per share during the next five years. With respect to this
transaction, we paid approximately $215,000 cash as issuance expenses and
granted an option to acquire up to 25,000 shares to a third party, exercisable
at $5 per share. The fair market value of this grant was $ 40,000.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">57</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have
considered the provisions of EITF Issue No.00-19, &#8220;The Accounting for Derivative
Financial Instruments Indexed to, and Potentially Settled in, a Company&#8217;s Own
Stock,&#8221; and determined that the embedded conversion feature should not be
separated from the host instrument because it is qualified for equity
classification in paragraphs 12-32 of EITF Issue No.00-19. Therefore the
transaction was accounted for in accordance with EITF 00-27, "Application of
Issue No. 98-5 to Certain Convertible Instruments" and APB 14, "Accounting for
Convertible Debt and Debt Issued with Stock Purchase Warrants." The fair market
value of the Warrants was&#160;determined based on the fair value of the
instruments issued using the Black-Scholes pricing model, assuming a risk free
rate of 5%, a volatility factor of 78.21%, dividend yields of 0% and an expected
life of 2 years. The&#160;expiration date of the Warrants is November
2011.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As a
result, we recorded in 2006 an amount of $282,000 with respect to the Warrants
and an amount of $632,000 as beneficial conversion feature with respect to the
Convertible Bonds, as a credit to shareholders' equity (additional paid in
capital). The discount of the bonds as a result of the value assigned to the
warrants and the beneficial conversion feature is amortized during the
contractual term of the bonds.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
November 2007, due to a breach of certain conditions of the convertible bonds,
the investors had the right to accelerate the repayment of the principal amount
of the bonds with all the interest payable until the maturity date of the bonds.
However, we signed an amendment to the agreement with the investors under which
we were required to pay to one of the investors the abovementioned interest
amount ($276,000) (with any withholding and other taxes payable with respect to
the interest (approximately 3% of the principal of the bonds)) and with respect
to the other investors we changed the conversion ratio of the bonds to $4.25. In
a consideration the investors waived their right to accelerate the repayment of
the bonds. We accounted for the amendment as a modification of the bonds (based
on the provisions of EITF 06-06 (We accounted for the amendment as a
modification of the Bonds.)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In June
2008, following a breach in the amended terms of the convertible bonds, we
reached an agreement with one of the investors (with a principal amount of
$2,500,000), under which, among other things, the investor waived our compliance
with certain covenants under its Convertible Bonds, in exchange
for:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 35.45pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 27pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Increasing
      the interest rate to 10% starting March 31, 2008. Any withholding and
      other taxes payable with respect to the interest will be grossed up and
      paid by us (approximately 3% of the principal of the
    bonds).</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 35.45pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 27pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Reducing
      the exercise price of the bond and the warrants to $3 and $2.8,
      respectively.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 35.45pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 27pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
      undertake to place a fixed charge on all income and/or rights in
      connection with a certain European Airport Project. This charge shall be
      senior to any indebtedness and/or other pledge and encumbrance, but shall,
      however, be subject to certain rights of us to use part of the
      income.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 35.45pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 27pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Certain
      anti-dilution rights with respect to the warrants held by the single
      investor.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
addition, under certain circumstances the investor might have the right to
demand an early payment of partial or full amount of the Convertible Bonds (up
to the $2,500,000 as mentioned above). We accounted for the amendment as an
extinguishment of the Bonds.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Due to
the breach of certain convertible bonds covenants, we had to recognize, in 2008,
financial expenses in the amount of $553,000, to accelerate deferred expenses in
the amount of $138,000 and to accelerate the remaining discount amounts
(attributed to warrants and beneficial feature) in the amount of $724,000. In
addition the Convertible Bond was classified as a current
liability.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">There
were no amendments signed with SSF since November 2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of
December 31, 2008 and June 30, 2009, we are not in compliance with certain
covenants under our Convertible Bond agreements, in which case the Convertible
Bond holders could seek to accelerate payment of the unpaid principal amount,
accrued interest and other amounts under its Convertible Bond (an aggregate of
approximately $4,420,000 as of June 30, 2009). We are currently negotiating with
the Convertible Bond holders.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
December 31, 2006, we concluded the OTI Transaction for 2,827,200 restricted
ordinary shares of OTI. One seventh of the restricted ordinary shares vest at
the end of each calendar quarter, beginning with the quarter ended December 31,
2006.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>As a result of the OTI Transaction, we
recognized $10,536,000 as a capital gain on the sale of the E-ID Division in
fiscal year 2006.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
capital gain was calculated based on OTI&#8217;s share price on the closing date, less
a discount due to the lock up restrictions of the shares (based on an
independent appraisal), the carrying value of the assets that were transferred
to OTI and direct expenses (in an amount of $1,550,000) associated with the
sale.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">58</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
direct expenses included, inter alia, the fair value of 212,040 shares out of
the shares received by us from OTI that will be transferred to consultants, as a
finder and legal fee, in connection with the transaction.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
connection with the completion of the sale, during January 2007, a financial
institution extended a $2,500,000 loan to us. In order to secure this loan we
deposited our OTI shares in favor of the financial institution.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
2007 and 2008, we sold 1,414,716 and 1,200,444 shares of OTI for a total
consideration of $7,639,000 and $3,192,000, respectively.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of
December 31, 2008, Vuance Inc. had an account receivable line of credit from
Bridge Bank in an aggregate amount of up to $1,000,000. The loan bears interest
at the WSJ Prime Rate plus an additional 2.5% annualized on the average daily
gross financed amount outstanding. Floor on Prime Rate to be 6%. Minimum monthly
interest of $1,500 Plus Facility fee of $7,500 annually. Bridge Bank has a
perfected first position security interest in all of Vuance Inc.'s current and
future assets, including intellectual property and general
intangibles.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
weighted average interest rate on the credit line as of December 31, 2008 was
approximately 6%.</font></div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
the period from January 1, 2008 to December 31, 2008, our capital expenditures
totaled approximately $73,000 (compared to $116,000 during 2007 and $93,000
during 2006), of which approximately $39,000 (compared to $62,000 during 2007
and $69,000 during 2006) was expended at or upon Vuance's facilities in Israel,
and approximately $34,000 (compared to $54,000 during 2007 and $24,000 during
2006) was expended upon various facilities of Vuance's subsidiaries outside
Israel. During the first financial quarter of 2009, our capital expenditures
totaled approximately $10,150.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Continuation
of our current operations after utilizing our current cash reserves is dependent
upon the generation of additional financial resources either through the
issuance of additional equity or debt securities or other sources of financing
or the sale of certain assets of the Company. These matters raise substantial
doubt about our ability to continue as a going concern. The financial statements
have been prepared assuming that we will continue as a going concern. The
financial statements do not include any adjustments that might result from the
outcome of this uncertainty.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 13.5pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">C.</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Research
      and Development</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our past
research and development efforts have helped us to achieve our goal of offering
our customers a complete line of products and solutions. As of December 31, 2008
the number of employees in our research and development activities was 11. We
focus on the new technology of our RFID and Credentialing, and expect to
maintain our current research and development efforts. We spent $1.4 million,
$1.7 million and $2.6 million on research and development in 2006, 2007 and
2008, respectively. These amounts were spent on the development or improvement
of our technologies and products, primarily in the areas of RFID and
Credentialing in 2008 and 2007 and during 2006 mainly in the areas of automatic
contactless smart card production line, data capture, management software,
population registry software packages, security printing, and document
authentication. We will continue to research and develop our RFID, Credentialing
and EAC. There can be no assurance that we can achieve any or all of our
research and development goals.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 12.2pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">D.</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Trend
      Information</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">See -
&#8220;Results of operations&#8221; in Item 5.A for additional information.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Industry
Trends</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
increased demand for better security systems and services has positively
affected trends within the industry. Access control and asset management are now
leading security concerns in commercial and governmental enterprises. This has
created an increasing demand, both for physical security access to buildings and
logical security access to corporate networks, combined with real time tracking
and monitoring assets. Our mobile (CSMS and RAPTOR) and fixed access control
solutions, jointly with our RFID-enabled security and asset management
solutions, provide an optimal solution to these problems as they deliver
stronger authentication of network users and store personal data for highly
secure physical access control. In addition, we believe that the acquisition of
the Intelli-Site will expedite our ability to meet the demand for integrated
solutions and technology convergence operating under a unified
platform.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">59</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Market
and Operational Trends</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
quarterly operations results may be subject to significant fluctuations due to
several factors. Some of these factors are based primarily on the timing of
large orders, which represent a significant percentage of our revenues, customer
budget cycles and impact on the timing for buying decisions, as well as
competitive pressures and the ability of our partners, distributors and system
integrators to become effective in selling and marketing our products, as well
as other factors.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;We
have also observed a considerable increase in marketing leads from our growing
partnerships, distributions and systems integration network, and a particular
interest by federal as well as local government customers in public safety or
incident management. We expect to continue to benefit from marketing programs
and leads generated by this network, as well as sales opportunities identified
by them. We intend to expand our marketing and implementation capacity through
these third parties, including vendors of complementary products and providers
of service applications. By employing third parties in the marketing and
implementation process, we expect to enhance sales by taking advantage of their
market presence.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;A
significant portion of our 2008 revenues was derived from our governmental
projects and the remainder was derived from commercial customers. Historically,
our revenues have been concentrated in a few large orders and in a relatively
small number of customers. We expect this trend to change and we expect that
future revenues will come from larger number of orders and
customers.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For more
information about our expectations regarding future cost of revenues, future
operating expenses and liquidity and capital resources, please refer to the
section captioned &#8220;Risk Factors&#8221; in Item 3.D., the sections captioned &#8220;Results
of Operations&#8221; in Item 5.A and &#8220;Liquidity and Capital Resources&#8221; in Item
5.B.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
development and marketing efforts for the solution and product platforms are
aimed at addressing several systems and service trends that we see developing in
the industry.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;In
December 2006, we concluded the sale of our E-ID Division to OTI. The sale
allows management to focus primarily on the substantial market opportunities we
have identified for our Credentialing and active RFID solutions. Following the
events of September 11, 2001 and other major disasters it has become
increasingly important for agencies to track personnel, assets, and other
objects on a local positioning basis. Our CSMS and RAPTOR solutions can fulfill
critical homeland security requirements for public safety and emergency services
agencies and local counter-terrorism task forces. In recent months, we have
announced contracts for the deployment of our CSMS and RAPTOR Systems, and we
are currently discussing the deployments with additional governmental agencies
in North America.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As a
result of these trends and combined with our core strengths, we are focusing on
products and solutions that we believe will be significantly influential in the
present and future markets. As of the date of this Annual Report, we expect that
our 2009 revenues will be primarily derived from:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Smart
      ID technologies;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Passive
      RFID - Electronic Access Control;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CSMS
      and RAPTOR Systems;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Active
      RFID; and</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Integrated
      Managed Security solution software.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Recent
Developments and Outlook</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We expect
revenues to continue to be derived from one-time sales and recurring fees, sales
of high-end solutions, sales of products, consumables and technology. Sales are
expected to continue through OEM partnerships and continual upgrades,
maintenance and support will continue to be provided to customers. For more
information see the section captioned &#8220;<font style="DISPLAY: inline; FONT-STYLE: italic">Recent Developments</font>&#8221; in Item
4.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 12.2pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 27pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">E.</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Off
      Balance Sheet Arrangements</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;We
do not have any off-balance sheet transactions that have or are reasonably
likely to have a material effect on our current or future financial condition,
changes in financial condition, revenues, expenses, results of operations,
liquidity, capital expenditures or capital resources.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">60</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 12.2pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">F.</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Tabular
      Disclosure of Contractual
Obligations</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Contractual
Obligations</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
following table summarizes our contractual obligations and commitments as of
December 31, 2008, which will require significant cash outlays in the
future:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <div align="center">
          <table cellpadding="0" cellspacing="0" width="100%">
              <tr>
                <td valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Contractual&#160;Obligations</font></font></div>
                </td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Total</font></font></div>
                </td>
                <td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Less&#160;than</font></font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">1&#160;</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">year</font></font></div>
                </td>
                <td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">1-3&#160;years</font></font></div>
                </td>
                <td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">3-5&#160;years</font></font></div>
                </td>
                <td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">More&#160;than</font></font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">5&#160;</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">years</font></font></div>
                </td>
                <td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="40%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Long-term
      debt obligations</font></div>
                </td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="40%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Capital
      (finance) lease obligations</font></div>
                </td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="40%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating
      lease obligations</font></div>
                </td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">770,000</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">464,000</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">306,000</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="40%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Purchase
      obligations(*)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">646,500</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">346,500</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">300,000</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="40%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Convertible
      bonds(**)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,306,000</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,306,000</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="40%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      contractual cash obligations</font></div>
                </td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,836,500</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,230,500</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">606,000</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr>
          </table>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Long-term
debt consists of amounts due on loans from banks, which is described in Item 18,
Note 9 to the financial statements included in this Annual Report. Operating
lease obligations represent commitments under several lease agreements for our
facilities and the facilities of certain subsidiaries. Convertible bonds
represent the amount due to the investors under the convertible bonds assuming
there will no conversion to shares, which is described in Item 18, Note 13 to
the financial statements included in this Annual Report. Total contractual cash
obligations represent outstanding commitments for loans from banks, convertible
bonds, purchase obligations and lease agreements for facilities. We are not a
party to any capital leases.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-WEIGHT: bold">(*) </font>We are obligated, under
certain contracts with one of our manufacturers, to purchase certain frame
orders from such manufacturer, with no specific time requirements.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">(**)</font> As of December 31, 2008
and June 30, 2009, we are not in compliance with certain covenants under our
Convertible Bond agreements, in which case the Convertible Bond holders could
seek to accelerate payment of the unpaid principal amount and accrued interest
under its Convertible Bond (an aggregate of approximately $4,420,000 as of June
30, 2009). We are currently negotiating with the Convertible Bond
holders.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
6.&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-STYLE: italic">Directors, Senior Management and
Employees.</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">A.&#160;&#160;&#160;&#160;Directors
and Senior Management</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Board of Directors</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>We are managed by our Board of
Directors. Pursuant to our Articles of Association, the number of directors may
be determined from time to time by the Board of Directors, and unless otherwise
determined, the number of directors comprising the Board of Directors will be
between four and ten. Directors are elected for a one year term ending at the
following annual general meeting of shareholders, except for our external
directors, who are elected for three year terms in accordance with the Israeli
Companies Law. However, if no directors are elected at an annual meeting, then
the persons who served as directors immediately prior to the annual meeting
shall be deemed re-elected at the same meeting, The General Meeting may resolve
that a director be elected for a period longer than the time ending at the next
annual meeting but not longer than that ending at the third next annual meeting.
The Board of Directors elects one of its members to serve as the
Chairman.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">61</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The Board of Directors is composed as
follows (as of the date of this Annual Report):</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <div align="left">
          <table cellpadding="0" cellspacing="0" width="75%">
              <tr>
                <td valign="top" width="25%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Name</font></font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Age</font></font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="57%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Position</font></font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="25%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Eli
      Rozen</font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="12%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">55</font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="57%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Director,
      Chairman of the Board</font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="25%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Avi
      Landman</font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="12%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">55</font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="57%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Director</font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="25%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Ilan
      Horesh</font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="12%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">57</font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="57%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">External
      Director (1)</font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="25%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Jaime
      Shulman</font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="12%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">66</font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="57%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Director</font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="25%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Michal
      Brikman</font></div>
                </td>
                <td valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font></div>
                </td>
                <td valign="top" width="12%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">39</font></div>
                </td>
                <td valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font></div>
                </td>
                <td valign="top" width="57%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">External
      Director (2)</font></div>
                </td>
              </tr>
          </table>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(1)&#160;&#160;&#8220;External
Director&#8221; as defined in the Israeli Companies Law (see explanation
below).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(2)&#160;&#160;The
reelection of Michal Brikman, who was elected as an external director on October
28, 2004 for a period of three years, was inadvertently left off of the agenda
of&#160;our&#160;2007 annual general meeting of shareholders, and under Israeli
law, an external director cannot be deemed reelected or continue in office until
a successor is elected. Due to this oversight, since October 28, 2007, Ms.
Brikman has not qualified as our &#8220;external director,&#8221; but has continued to
function as such and as a member of certain committees of our Board of
Directors. At the annual general meeting of shareholders held on August 17,
2008, Ms. Brikman was reelected as an external director for an additional period
of three years commencing as of October 28, 2007. Additionally, our Board of
Directors and such committees ratified all of the actions that had been taken by
them since the expiration of Ms. Brikman's initial term as our external
director.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Eli Rozen</font>
is one of our co-founders and serves as a director and as Chairman of our Board
of Directors. Mr. Rozen has served as Chairman since 2000. From 1988 until 2000,
Mr. Rozen served as our Chief Executive Officer and President. Mr. Rozen has a
Bachelor of Science in Industrial Engineering and Management from the Israel
Institute of Technology.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Avi
Landman</font> is one of our co-founders and serves as a member of the Board of
Directors and as our Research Manager. Prior to co-founding Vuance in 1988, Mr.
Landman worked as a computer engineer at Gal Bakara Ltd. and prior to that as a
Practical Engineer at Eltam Ltd. Mr. Landman has a Bachelor of Science degree in
Computer Engineering from the Technion - Israel Institute of Technology and a
Practical Engineer Diploma in Electronics from Bosmat Haifa.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Ilan
Horesh</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">, </font>an
external director, became a member of the Board of Directors on September 17,
2006 and is a member of the audit committee. Mr. Horesh was also a board member
of Retalix Ltd. from 1998 to 2006. Since 2006, he has been an external director
of Ampa Investments LTD, and since 2007 has been a board member of Taldor
Computer System (1986) Ltd. and an external director of Rekah Pharmaceutical
Industry Ltd. Mr. Horesh was a department manager at Pelephone Communication
Ltd. From 1997 to 1998, Mr. Horesh served as the Chief Executive Officer of
"SHEFFA consumer club," a subsidiary of Macabi Health Services. From 1994 to
1997, Mr. Horesh was the manager of the Planning and Projects Department at Paz
Oil Corp. From 1994 to 1999, Mr. Horesh was a director of Hed-Artzi Ltd. Mr.
Horesh holds a Bachelor of Arts in History and Geography from Tel Aviv
University, a Master of Arts in Political Studies from Haifa University, and a
Bachelor of Arts degree in Business Administration.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Jaime
Shulman</font> became a member of the Board of Directors on September 17, 2006.
From 2001 to 2003, Mr. Shulman was President and CEO of Logisticare, Ltd. From
1998 to 2000, Mr. Shulman was President and CEO of the Amcor Group. From 1993 to
1997, Mr. Shulman was President and CEO of the Magam Enterprises Group. From
1991 to 1998, Mr. Shulman was the active Chairman of the board (part time) of
Tana Industries. From 1991 to 1992, Mr. Shulman was a foreign consultant to and
subsequently CEO of Metrometer, Inc. (New York). From 1978 to 1991, Mr. Shulman
was CEO of Electra Israel. From 1970 to 1977, Mr. Shulman was Production Manager
at Tadiran, Plastic and Metal Plant. Mr. Shulman is an Electromechanical
Engineer (equivalent to M.Sc. in Israel) from Buenos Aires University,
Argentina.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Michal
Brikman</font><font style="DISPLAY: inline; FONT-WEIGHT: bold">, </font>an
external director, became a member of the Board of Directors on October 28,
2004. Ms. Brikman is a Certified Public Accountant with extensive management and
accounting experience. From 2000 to 2005, Ms. Brikman was a business consultant
at Daniel Doron Business Consulting. Ms. Brikman received her Masters in Finance
from Baruch College in New York City and later relocated to
Israel.</font><br></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">62</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Executive
Officers and Key Employees</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>As of June 15, 2009, our executive
officers and certain key employees who are not also directors are:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <div style="MARGIN-LEFT: 36pt" align="left">
          <table cellpadding="0" cellspacing="0" width="90%">
              <tr>
                <td align="left" valign="top" width="25%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Name</font></font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Age</font></font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="57%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Position</font></font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="25%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Eyal
      Tuchman</font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="12%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">41</font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="57%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Chief
      Executive Officer</font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="25%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Ron
      Peer</font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="12%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">59</font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="57%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deputy
      CEO, President of Vuance Inc.</font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="25%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Lior
      Maza</font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="12%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">38</font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="57%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Vice
      President of Corporate Finance, Chief Financial Officer</font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="25%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Joel
      Konicek</font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="12%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">59</font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="57%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Chief
      Operating Officer</font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="25%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Jim
      Peroutka</font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="12%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">55</font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="57%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Chief
      Technology Officer</font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="25%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Kyle
      John</font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="12%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">42</font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="57%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Vice
      President Sales, North America</font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="25%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Thomas
      W. Connell II</font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="12%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">42</font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="57%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Vice
      President Government Solutions</font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="25%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Kevin
      Michael</font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="12%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">48</font></div>
                </td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="57%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Vice
      President of Operations</font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="25%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">John
      Ulibarri</font></div>
                </td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font></div>
                </td>
                <td align="left" valign="top" width="12%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">51</font></div>
                </td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font></div>
                </td>
                <td align="left" valign="top" width="57%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Vice
      President of Integrated
Solutions</font></div>
                </td>
              </tr>
          </table>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Eyal
Tuchman</font>, Chief Executive Officer. In April 2006, Mr. Tuchman became
Vuance&#8217;s Chief Executive Officer, after four years of service as Vuance&#8217;s Chief
Financial Officer and Chief Operational Officer. Mr. Tuchman brings to Vuance
years of experience in business development, finance and operational management
in publicly traded companies. Prior to joining us in 2002, he served as Chief
Financial Officer of Magam Group, a company traded on the Tel-Aviv Stock
Exchange, from 1996 to 2002, and before that, was a Senior Auditor at Kesselman
&amp; Kesselman (today, PriceWaterhouseCoopers). Mr. Tuchman holds a Bachelor of
Arts in Economics &amp; Accounting from Ben Gurion University and is a certified
public accountant.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Ron
Peer,</font><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>Deputy
CEO, Marketing, Technology and Business Development. Mr. Peer has over 30 years
of experience in the technology industry, where he has held top management
positions. Mr. Peer has proved to be a successful leader in the Israeli and U.S.
high-tech industries with broad and in-depth marketing and business vision. With
proven experience and expertise in brand counterfeiting and document security
solutions, he has directed startup and turnaround situations and also recruited
and developed strong management teams. With his technological and operational
experience background, rooted in the Israel Defense Forces as a Lieutenant
Colonel, Mr. Peer maintains a successful international business and management
career. Mr. Peer holds a Bachelor of Science degree in Electronic Engineering,
and Business and Marketing Diplomas from Tel-Aviv University.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Lior Maza,</font>
Chief Finance Officer.&#160;Mr. Maza has over ten years of financial management
experience, having served,&#160;from 2004 to 2007, as Director of Finance at
PowerDsine, Ltd. (NASDAQ: PDSN), a pioneer in Power over Ethernet (PoE)
solutions that was acquired by Microsemi Corporation (NASDAQ: MSCC). Prior to
PowerDsine, Mr. Maza served for four years as the Corporate Controller of Invoke
Solutions, a leading innovator of real-time, interactive research technology.
Mr. Maza holds a Masters degree in Business Administration with distinction from
Heriot-Watt University, Edinburgh Business School. Mr. Maza is a certified
public accountant.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Joel Konicek,
</font>Chief Operating Officer. Mr. Konicek was the former CEO and President of
Security Holding Corp., and joined Vuance when SHC was acquired in 2007. He
published <font style="DISPLAY: inline; FONT-STYLE: italic">Security, ID
</font><font style="DISPLAY: inline; FONT-STYLE: italic">Systems</font><font style="DISPLAY: inline; FONT-STYLE: italic"> and Locks</font><font style="DISPLAY: inline; FONT-STYLE: italic">: The</font><font style="DISPLAY: inline; FONT-STYLE: italic"> Book on Electronic Access
Control</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">&#160;</font>in
1998.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Jim Peroutka,
</font>Chief Technology Officer. Mr. Peroutka was the former CTO of Security
Holding Corp., and joined Vuance in 2007. As a 30 year veteran of the security
industry, Mr. Peroutka is a specialist in RFID-empowered electronic access
control for wide area networks. Previously, he founded and led JRP Data
Systems.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Kyle John,
</font>Vice President Sales, North America. With over 14 years of security
industry experience, Mr. John joined the Company in 2007.&#160;&#160;He
previously served as Regional Sales Manager for two Fortune 500 companies, ADT
Security Services and Cintas Corporation.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Thomas W. Connell
II, </font>Director, Government Solutions.&#160;&#160;Mr. Connell was the former
CEO of Special Rescue Services and COO of Disaster Management Solutions, and
joined Vuance in 2007. As a 15-year veteran of emergency services, he served on
national standards committees such as National Fire Protection Association
(NFPA), and worked with the Federal Emergency Management Agency, DHS, the
Department of Justice, and the Department of Health and Human Services on
multiple domestic preparedness initiatives after the September 11, 2001 terror
attacks.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Kevin
Michael,</font><font style="DISPLAY: inline; FONT-STYLE: italic">&#160;</font>With over 15 years of
experience in the private sector, Mr. Michael has managed projects at EMC2,
Intel, and National Semiconductors. Mr. Michael has extensive experience in
operations including the integration of RFID technologies and facility
management applications to control space and assets.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">63</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">John
Ulibarri</font>, is the President and Chief Executive Officer of Intelli-Site,
Inc. Mr. Ulibarri joined Intelli-Site in April, 2001 as Vice President of
Engineering and Operations, was promoted to Executive Vice President in
December, 2002, and President in January, 2004.&#160; Mr. Ulibarri brings more
than 25 years of experience in the Security Systems industry. &#160;Prior to
joining our company, Mr. Ulibarri served in various senior management and
engineering positions with major security and communications systems integration
concerns throughout the US.&#160; Mr. Ulibarri holds a B.S. in Computer
Engineering and an MBA.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">B.&#160;&#160;&#160;&#160;Compensation</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The aggregate amount of compensation
paid by us to our board members, our Chief Executive Officer, Deputy CEO,
Marketing, Technology and Business Development, Vice President, Chief Financial
Officer, Chief Operating Officer and Chief Technology Officer (collectively, the
"Named Executive Officers") as a group for the twelve months ended December 31,
2008 was approximately $1,017. This sum includes amounts paid for salary and
social benefit. In addition, we have provided automobiles to our executive
officers at our expense.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;In
accordance with the requirements of Israeli law, we determine our directors&#8217;
compensation in the following manner. First, our audit committee reviews the
proposal for compensation; second, provided that the audit committee approves
the proposed compensation, the proposal is then submitted to our Board of
Directors for review, except that a director who is the beneficiary of the
proposed compensation does not participate in any discussion or voting with
respect to such proposal; and finally, if our Board of Directors approves the
proposal, it must then submit its recommendation to our shareholders, which is
done in the forum of our shareholders&#8217; general meeting. The approval of a
majority of our shareholders is required for any such compensation
proposal.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 34.2pt"></font>On January 26, 2003, at a special
general meeting, our shareholders approved the grant to each of our directors
who is not an external director, commencing on October 1, 2002, a monthly $1,000
fee and participation remuneration per meeting of the Board of Directors,
provided however, that each of the directors who is not an external director
shall be entitled to an aggregate sum of monthly remuneration and participation
remuneration of not more than $18,000 per year.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of
December 31, 2008, we had set aside approximately $29,000 to provide pension,
retirement or similar benefits for our Board of Directors and Named Executive
Officers.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Option/SAR
Grants during the Year Ended December 31, 2008</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
the twelve months ended December 31, 2008, we granted options to purchase 23,000
ordinary shares under our Option Plan (as defined in &#8220;Share Options Plans&#8221;
below) to two of our Named Executive Officers at an exercise price of $1.88. All
options will expire in 2018.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
September, 2008, the Board of Directors approved a re-pricing of options for
three executive officers for 149,600 options, which had exercise prices ranging
between $2.47 and $14.8235.&#160;&#160;The re-pricing changed the exercise price
of the options to $1.86. The incremental compensation cost at the date of the
modification was $66,000, of which $59,000 was recognized during
2008.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
January 9, 2009, according to the board resolution on October 27, 2008 and the
Special General Meeting dated December 21, 2008, the Company granted to (a) the
Chairman of our Board of Directors, (b) a member of the Company's Board of
Directors who is also one of the co-founders, (c) one of the co-founders of the
Company, and (d) another member of the Company's Board of Directors, options to
purchase up to 49,311, 34,702, 24,244 and 6,164 shares,
respectively.&#160;&#160;The options have an exercise price of 0.0582235 NIS,
vesting immediately and will expire after ten years. Those options were granted
as a compensation for three months in exchange for waiving their cash payments
for those months, according to their agreement with the Company. In addition (a)
all options held by the Participants on October 27, 2008 shall be re-priced so
that the exercise price thereof shall be $1.1 (the closing price of the Ordinary
Share on said date), and (b) all such options with an expiration date prior to
October 27, 2013 shall nonetheless be exercisable until October 27,
2013.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Please
refer to the Section captioned &#8220;Share Option Plan&#8221; under Item 6.E below for a
description of our Option Plans.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">64</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">C.&#160;&#160;&#160;&#160;Board
Practices</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our Board
of Directors and senior management consider good corporate governance to be
central to our effective and efficient operations. The following table lists our
directors, the positions they hold with us and the dates the directors were
first elected or appointed:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <div align="left">
          <div align="left">
            <div align="left">
              <div align="left">
                <table cellpadding="0" cellspacing="0" width="92%">
                    <tr>
                      <td align="left" valign="top" width="32%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Name</font></div>
                      </td>
                      <td valign="top" width="2%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td align="left" valign="top" width="32%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Position</font></div>
                      </td>
                      <td valign="top" width="2%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td align="left" valign="top" width="32%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Period
      Served in Office</font></div>
                      </td>
                    </tr>
                    <tr>
                      <td align="left" valign="top" width="32%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Eli
      Rozen</font></div>
                      </td>
                      <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td align="left" valign="top" width="32%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Director</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Chairman
      of the Board</font></div>
                      </td>
                      <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td align="left" valign="top" width="32%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1988-present</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">July
      25, 2000-present</font></div>
                      </td>
                    </tr>
                    <tr>
                      <td align="left" valign="top" width="32%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Avi
      Landman</font></div>
                      </td>
                      <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td align="left" valign="top" width="32%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Director</font></div>
                      </td>
                      <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td align="left" valign="top" width="32%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1988-present</font></div>
                      </td>
                    </tr>
                    <tr>
                      <td align="left" valign="top" width="32%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Ilan
      Horesh</font></div>
                      </td>
                      <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td align="left" valign="top" width="32%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">External
      Director</font></div>
                      </td>
                      <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td align="left" valign="top" width="32%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">September
      17, 2006-present</font></div>
                      </td>
                    </tr>
                    <tr>
                      <td align="left" valign="top" width="32%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Jaime
      Shulman</font></div>
                      </td>
                      <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td align="left" valign="top" width="32%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Director</font></div>
                      </td>
                      <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td align="left" valign="top" width="32%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">September
      17, 2006-present</font></div>
                      </td>
                    </tr>
                    <tr>
                      <td align="left" valign="top" width="32%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Michal
      Brikman</font></div>
                      </td>
                      <td align="left" valign="top" width="2%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font></div>
                      </td>
                      <td align="left" valign="top" width="32%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">External
      Director</font></div>
                      </td>
                      <td align="left" valign="top" width="2%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font></div>
                      </td>
                      <td align="left" valign="top" width="32%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">October
      28, 2004-present
(*)</font></div>
                      </td>
                    </tr>
                </table>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(*) The
reelection of Michal Brikman, who was elected as an external director on October
28, 2004 for a period of three years, was inadvertently left off the agenda
of&#160;our&#160;2007 annual general meeting of shareholders, and under Israeli
law, an external director cannot be deemed reelected or continue in office until
a successor is elected. Due to this oversight, since October 28, 2007, Ms.
Brikman has not qualified as our &#8220;external director,&#8221; but has continued to
function as such and as a member of certain committees of our Board of
Directors. At the annual general meeting of shareholders held on August 17,
2008, Ms. Brikman was reelected as an external director for an additional period
of three years commencing on October 28, 2007. Additionally, our Board of
Directors and such committees ratified all of the actions that had been taken by
them since the expiration of Ms. Brikman's initial term as our external
director.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
Articles of Association provide that the number of directors may be determined
from time to time by the Board of Directors, and unless otherwise determined,
the number of directors comprising the Board of Directors will be between four
and ten. The Board of Directors is presently comprised of five members, two of
whom were elected as external directors under the provisions of the Israeli
Companies Law (discussed below).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">All
directors hold office until their successors are elected at the next annual
general meeting of shareholders, except for our external directors, Michal
Brikman, who shall hold office until October, 2010, and Ilan Horesh, who shall
hold office until September, 2009.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Under the
Israeli Companies Law and the regulations promulgated pursuant thereto, Israeli
public companies, namely companies whose shares have been offered to the public
or are publicly traded, are required to appoint at least two natural persons as
&#8220;external directors.&#8221; A person may not be appointed as an external director if
the person, or a relative, partner or employer of the person, or any entity
under the person&#8217;s control, has or had, on or within the two years preceding the
date of the person&#8217;s appointment to serve as an external director, any
affiliation with the company to whose board the external director is proposed to
be appointed; with the controlling shareholder of such company or with any
entity controlling or controlled by such company or by the controlling
shareholder of such company. The term &#8220;affiliation&#8221; includes an employment
relationship, a business or professional relationship maintained on a regular
basis, control and service as an office holder (which term includes a
director).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
addition, no person may serve as an external director if the person&#8217;s position
or other business activities create, or may create, a conflict of interest with
the person&#8217;s responsibilities as an external director or interfere with the
person&#8217;s ability to serve as an external director or if the person is an
employee of the Israel Securities Authority or of an Israeli stock exchange. If,
at the time of election of an external director, all other directors are of the
same gender, the external director to be elected must be of the other
gender.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
to the Israeli Companies Law, at least one of the external directors, as well as
a number of the non-external directors to be determined by the Board of
Directors, are required to have &#8220;accounting and financial expertise&#8221; and the
other external directors are required to have "professional skills," as such
terms are defined in regulations recently promulgated under the Israeli
Companies Law.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Each
committee of a company&#8217;s Board of Directors that has the authority to exercise
powers of the Board of Directors is required to include at least one external
director and its audit committee must include all external
directors.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">External
directors are elected at the general meeting of shareholders by a simple
majority, provided that the majority includes at least one-third of the
shareholders who are not controlling shareholders, who are present and voting,
or that the non-controlling shareholders who vote against the election hold one
percent or less of the voting power of the company.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">65</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">At our
2003 Annual General Meeting held on June 30, 2003, Esther Koren and Avi Elkind
were each re-elected to serve as external directors for an additional term of
three years ending on June 30, 2006. However, Esther Koren resigned as a member
of our Board of Directors due to personal reasons effective July 14, 2004. Ms.
Michal Brikman was subsequently appointed to our Board of Directors as an
External Director, which appointment was approved by our shareholders at a
special general shareholder meeting on October 28, 2004. In addition, Ms.
Brikman has been appointed to the Audit Committee and several other committees.
Ms. Brikman's term as External Director, and consequently as a member of such
committees expired on October 27, 2007; however, at the annual general meeting
of shareholders held on August 17, 2008, Ms. Brikman was re-elected as an
external director for an additional period of three years commencing on October
28, 2007.&#160;&#160;Our Board of Directors and such committees have ratified
all of the actions that had been taken by them since the expiration of Ms.
Brikman's initial term as our external director.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;On
September 17, 2006, our general meeting appointed Mr. Ilan Horesh as an External
Director. In addition, Mr. Horesh has been appointed to the audit
committee.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Under
the Israeli Companies Law, an external director cannot be dismissed from office
unless: (i) the Board of Directors determines that the external director no
longer meets the statutory requirements for holding the office, or that the
external director has breached the external director's fiduciary duties, and the
shareholders vote, by the same majority required for the appointment, to remove
the external director after the external director has been given the opportunity
to present his or her position; (ii) a court determines, upon a request of a
director or a shareholder, that the external director no longer meets the
statutory requirements of an external director or that the external director has
breached his or her fiduciary duties to the company; or (iii) a court
determines, upon a request of the company or a director, shareholder or creditor
of the company, that the external director is unable to fulfill his or her duty
or has been convicted of specified crimes.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We
have the following committees:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Audit
Committee</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Israeli<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>Companies
Law requires public companies to appoint an audit committee comprised of at
least three directors, including all of the external directors, and further
stipulates that the chairman of the Board of Directors of a public company, any
director employed by or providing other services on a regular basis to the
company and the controlling shareholder or any relative of the controlling
shareholder of such company may not be members of the audit committee of the
company. Since the expiration of Ms. Brikman's term as an external director (on
October 27, 2007) and due to the oversight omission of her re-election for an
additional term of three years, we have not had an audit committee (the "Audit
Committee") which complies with the requirements of Israeli law. During that
period our &#8220;audit committee&#8221; continued to operate, however, no event or action,
which under the Israeli Companies Law requires approval by the Audit Committee,
occurred or was taken until Ms. Brikman was re-elected as an external director
at the annual general meeting of shareholders held on August 17, 2008, for an
additional period of three years commencing as of October 28, 2007. Our Board of
Directors and Audit Committee ratified all of the actions that have been taken
by them since the expiration of Ms. Brikman's initial term as external director.
In 2007 the Audit Committee adopted an audit committee charter which regulates
its operations. According to our Audit Committee charter, the objective of the
Audit Committee is to assist the Board of Directors&#8217; oversight of the Company&#8217;s
accounting practices; the integrity of the Company&#8217;s financial statements; the
Company&#8217;s accounting and financial reporting processes; the Company&#8217;s compliance
with legal and regulatory requirements; the independent auditors&#8217;
qualifications, independence, and performance; audits of the Company&#8217;s financial
statements and the internal audit function, and to locate deficiencies in the
business management of the Company, among other things, in consultation with the
Company&#8217;s independent auditors and internal auditors, and to suggest to the
Board of Directors the measures to be taken regarding such deficiencies. Mr.
Ilan Horesh Mr. Jaime Shulman and Ms. Brikman are the members of the Audit
Committee.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Compensation
(Remuneration) Committee</font><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have a
compensation committee (the "Compensation Committee"). In 2007, the Compensation
Committee adopted a Compensation Committee charter, which regulates its
operations. According to the Compensation Committee charter it is responsible
for determining the compensation (including salaries, bonuses and equity
incentive compensation awards) of executive officers, including the Chief
Executive Officer, other senior management and members of the Board of
Directors. Ms. Michal Brikman, Mr. Ilan Horesh and Mr. Jaime Shulman are at the
present time the members of the Compensation Committee.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">66</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Nominating
and Corporate Governance Committee Charter</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On May
15, 2007, our Board of Directors approved the establishment of a Nominating and
Corporate Governance Committee (the "Nominating and Corporate Governance
Committee"). The Nominating and Corporate Governance Committee is responsible
for identifying individuals qualified to become board members, consistent with
criteria approved by the Board of Directors, and recommending that the Board of
Directors select the director nominees for election at the general meeting of
shareholders. The Committee is also responsible for developing and recommending
to the Board of Directors a set of corporate governance guidelines applicable to
the Company, periodically reviewing such guidelines, recommending any changes
thereto, and overseeing the evaluation of the Board of Directors. The Nominating
and Corporate Governance Committee is currently comprised of Ms. Michal Brikman,
Mr. Ilan Horesh and Mr. Jaime Shulman.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Management
Employment Agreements</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
maintain written employment agreements with substantially all of our key
employees. These agreements provide, among other matters, for monthly salaries,
our contributions to Managers&#8217; Insurance, an Education Fund and severance
benefits. All of our agreements with our key employees are subject to
termination by either party upon the delivery of notice of termination as
provided therein.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;Internal
Auditor</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Under the Israeli Companies Law, the
Board of Directors must appoint an internal auditor, proposed by the audit
committee. The role of the internal auditor is to examine, among other matters,
whether the company&#8217;s activities comply with the law and orderly business
procedure. Under the Israeli Companies Law, the internal auditor may be an
employee of the company but may not be an interested party or office holder, or
a relative of any interested party or office holder, and may not be a member of
the company&#8217;s independent accounting firm, or its representative. We have
appointed the office of Chaikin Cohen Rubin &amp; Co. as our internal auditor in
accordance with the requirements of the Israeli Companies Law.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">D.&#160;&#160;&#160;&#160;Employees</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of
December 31, 2008 and 2007, we had 52 and 70 full-time employees, respectively.
The following table describes our employees and the employees of our
subsidiaries by department.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <div align="center">
          <div style="MARGIN-LEFT: 18pt" align="left">
            <table cellpadding="0" cellspacing="0" width="70%">
                <tr>
                  <td valign="bottom" width="64%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Dec.&#160;31,</font></font></div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2006</font></font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Dec.&#160;31,</font></font></div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2007</font></font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Dec.&#160;31,</font></font></div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2008</font></font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr>
                  <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="64%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Research,
      Development &amp; Manufacturing</font></div>
                  </td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">26</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">23</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">21</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="64%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Marketing
      and Sales</font></div>
                  </td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">34</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Administration</font></div>
                  </td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">10</font></font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">13</font></font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">11</font></font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="64%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div>
                  </td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">56</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">70</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">52</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
            </table>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Over the
past three years, the number of our employees by geographic area was as
follows:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <div align="center">
          <div style="MARGIN-LEFT: 18pt" align="left">
            <table cellpadding="0" cellspacing="0" width="70%">
                <tr>
                  <td valign="bottom" width="64%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Dec. 31,</font></font></div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2006</font></font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Dec. 31,</font></font></div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2007</font></font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Dec. 31,</font></font></div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2008</font></font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr>
                  <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="64%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Israel</font></div>
                  </td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">38</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">22</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">16</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="64%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">United
      states</font></div>
                  </td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">43</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">30</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Rest
      of the world</font></div>
                  </td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">13</font></font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">5</font></font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">6</font></font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="64%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div>
                  </td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">56</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">70</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">52</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
            </table>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">From time
to time, we have engaged temporary employees to fill open positions. These
temporary employees, however, historically have not comprised a material number
of our employees.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As a
result of the OTI Transaction we terminated the employment of approximately 19
employees that were employed by us in the E-ID Division (the above table
includes, as of December 31, 2006, the employees of the E-ID Division). Our
current total number of employees is 48.</font><br></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">67</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Vuance&#8217;s
Israeli employees are not part of a collective bargaining agreement. However, in
Israel we are subject to certain labor statutes, and to certain provisions of
collective bargaining agreements between the Histadrut, the General Federation
of Labor in Israel, and the Coordinating Bureau of Economic Organizations,
including the Industrialists' Association. These are applicable to our employees
by virtue of expansion orders of the Israeli Ministry of Labor and Welfare.
These statutes and provisions principally concern the length of the workday,
minimum daily wages for professional workers, procedures for dismissing
employees, determination of severance pay, annual and other vacations, sick pay
and other conditions for employment. In addition, by virtue of such expansion
order, all employees in Israel are entitled to automatic adjustment of wages
relative to increases in the Consumer Price Index in Israel. The amount and
frequency of these adjustments are modified from time to time. We provide our
employees with benefits and working conditions that comply with the required
minimum.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Generally,
all nonexempt adult male citizens and permanent residents of Israel, under the
age of 40, or older for reserves officers or citizens with certain occupations,
are obligated to perform annual military reserve duty and are subject to being
called for active duty at any time under emergency circumstances. Some of our
officers and employees are obligated to perform annual reserve duty. While we
have operated effectively under these requirements since we began operations, no
assessment can be made as to the full impact of such requirements on our
workforce or business if conditions should change, and no prediction can be made
as to the effect on us of any expansion of such obligations.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">All of
our employees have entered into confidentiality agreements. We have also granted
certain employees options to purchase shares of our ordinary shares under our
option plan. We consider our relationship with our employees to be good and we
have never experienced a strike or work stoppage.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">E.&#160;&#160;&#160;&#160;Share
Ownership</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
following table sets forth certain information regarding the beneficial
ownership of our ordinary shares by our directors and Named Executive Officers
as of May 31, 2009. As of that date, we had 5,460,874 ordinary shares
outstanding.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <div align="left">
          <div align="center">
            <div align="center">
              <div align="center">
                <div align="center">
                  <div align="center">
                    <div align="center">
                      <div align="center">
                        <div align="center">
                          <div align="center">
                            <div align="center">
                              <div align="center">
                                <div align="center">
                                  <div align="center">
                                    <table cellpadding="0" cellspacing="0" width="100%">
                                        <tr>
                                          <td valign="bottom" width="32%" style="BORDER-BOTTOM: black 2px solid">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Name</font></font></div>
                                          </td>
                                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Ordinary</font></font></div>
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Shares&#160;held</font></font></div>
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">directly&#160;and</font></font></div>
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">beneficially</font></font></div>
                                          </td>
                                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">%&#160;of</font></font></div>
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Outstanding</font></font></div>
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Ordinary</font></font></div>
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Shares&#160;as&#160;of</font></font></div>
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">May&#160;31,&#160;2009</font></font></div>
                                          </td>
                                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Number&#160;of</font></font></div>
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">options</font></font></div>
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">outstanding</font></font></div>
                                          </td>
                                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Exercise</font></font></div>
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">price</font></font></div>
                                          </td>
                                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td valign="bottom" width="20%" style="BORDER-BOTTOM: black 2px solid">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Expiration&#160;date</font></font></div>
                                          </td>
                                        </tr>
                                        <tr bgcolor="#ccffcc">
                                          <td align="left" valign="bottom" width="32%">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;Eli
      Rozen</font></div>
                                          </td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">741,439</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1)</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12.81</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">194,817</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.1</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="20%">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">October
      27, 2013</font></div>
                                          </td>
                                        </tr>
                                        <tr bgcolor="#ccffcc">
                                          <td valign="bottom" width="32%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">51,000</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.1</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="20%">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">January
      11, 2015</font></div>
                                          </td>
                                        </tr>
                                        <tr bgcolor="#ccffcc">
                                          <td valign="bottom" width="32%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">51,000</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.1</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="20%">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">January
      19, 2017</font></div>
                                          </td>
                                        </tr>
                                        <tr bgcolor="#ccffcc">
                                          <td valign="bottom" width="32%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">49,311</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.01486</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="20%">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">January
      1, 2019</font></div>
                                          </td>
                                        </tr>
                                        <tr bgcolor="white">
                                          <td align="left" valign="bottom" width="32%">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;Avi
      Landman</font></div>
                                          </td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">464,082</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2)</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.40</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8,500</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.1</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="20%">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">October
      27, 2013</font></div>
                                          </td>
                                        </tr>
                                        <tr bgcolor="white">
                                          <td valign="bottom" width="32%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8,500</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.1</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="20%">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">January
      11, 2015</font></div>
                                          </td>
                                        </tr>
                                        <tr bgcolor="white">
                                          <td valign="bottom" width="32%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20,400</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.1</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="20%">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">January
      19, 2017</font></div>
                                          </td>
                                        </tr>
                                        <tr bgcolor="white">
                                          <td valign="bottom" width="32%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">34,702</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.01486</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="20%">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">January
      1, 2019</font></div>
                                          </td>
                                        </tr>
                                        <tr bgcolor="#ccffcc">
                                          <td align="left" valign="bottom" width="32%">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;Eyal
      Tuchman</font></div>
                                          </td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">164,530</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3)</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.93</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,100</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.86</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="20%">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">June
      19, 2012</font></div>
                                          </td>
                                        </tr>
                                        <tr bgcolor="#ccffcc">
                                          <td valign="bottom" width="32%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12,750</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.86</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="20%">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">March
      28, 2014</font></div>
                                          </td>
                                        </tr>
                                        <tr bgcolor="#ccffcc">
                                          <td valign="bottom" width="32%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">25,500</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.86</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="20%">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">November
      7, 2014</font></div>
                                          </td>
                                        </tr>
                                        <tr bgcolor="#ccffcc">
                                          <td valign="bottom" width="32%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">21,250</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.86</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="20%">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">October
      4, 2014</font></div>
                                          </td>
                                        </tr>
                                        <tr bgcolor="#ccffcc">
                                          <td valign="bottom" width="32%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">51,000</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.86</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="20%">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">May
      29, 2016</font></div>
                                          </td>
                                        </tr>
                                        <tr bgcolor="#ccffcc">
                                          <td valign="bottom" width="32%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">43,980</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.01486</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="20%">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">March
      12, 2019</font></div>
                                          </td>
                                        </tr>
                                        <tr bgcolor="white">
                                          <td align="left" valign="bottom" width="32%">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">James
      Pertuka</font></div>
                                          </td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">133,819</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(4)</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.45</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8,000</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.64</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="20%">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      18, 2017</font></div>
                                          </td>
                                        </tr>
                                        <tr bgcolor="#ccffcc">
                                          <td align="left" valign="bottom" width="32%">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Joel
      Konicek</font></div>
                                          </td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">133,819</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(5)</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.45</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8,000</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.64</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="20%">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      18, 2017</font></div>
                                          </td>
                                        </tr>
                                        <tr bgcolor="white">
                                          <td align="left" valign="bottom" width="32%">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Directors
      and Named Executive Officers as a Group ([10] persons)(7)</font></div>
                                          </td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,743,025</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(6)</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">28.45</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">752,464</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.01486
      &#8211; 5.2353</font></td>
                                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                          <td align="left" valign="bottom" width="20%">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">April
      2012 &#8211; March
2019</font></div>
                                          </td>
                                        </tr>
                                    </table>
                                  </div>
                                </div>
                              </div>
                            </div>
                          </div>
                        </div>
                      </div>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;(1)
Includes (a) 412,311 shares held directly by Eli Rozen, and (b) options to
purchase 329,128 ordinary shares which are currently exercisable or exercisable
within 60 days of May 31, 2009, of which 152,317 ordinary shares are held by
Finel Architecture and Engineering Ltd., a company owned solely by Mr. Rozen
(&#8220;Finel&#8221;).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(2)
Includes (a) 398,780 ordinary shares held by Avi Landman, of which 85,000 shares
are held by Ashland Investments LLC, a limited liability company solely owned by
Mr. Landman (&#8220;Ashland&#8221;), and (b) options to purchase 65,302 ordinary shares
which are currently exercisable or exercisable within 60 days of May 31,
2009.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">68</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(3)
Includes (a) 4,950 shares held directly by Eyal Tuchman, and (b) options to
purchase 159,580 ordinary shares which are currently exercisable or exercisable
within 60 days of May 31, 2009.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(4)
Includes (a) 131,153 shares held directly by James Pertuka, and (b) options to
purchase 2,666 ordinary shares which are currently exercisable or exercisable
within 60 days of May 31, 2009.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(5)
Includes (a) 131,153 shares held directly by Joel Konicek, and (b) options to
purchase 2,666 ordinary shares which are currently exercisable or exercisable
within 60 days of May 31, 2009.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(6)
Includes options to purchase 664,678 ordinary shares which are currently
exercisable or exercisable within 60 days of May 31, 2009.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(7) See
notes 1, 2, 3, 4, 5 and 6. Each of the directors and executive officers not
separately identified in the above table beneficially owns less than 1% of our
outstanding ordinary shares (including options held by each such party, and
which are exercisable or exercisable within 60 days of May 31, 2009) and has
therefore not been separately disclosed.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">All of
our ordinary shares have identical voting rights.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Share
Option Plans</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
February 14, 1999, the Board of Directors adopted, and our shareholders
subsequently approved, the 1999 Employee Stock Option Plan, which was amended
and restated in March 2002 (the "1999 Option Plan"). We no longer use the 1999
Option Plan to issue stock options. In 2003, we adopted a new stock option plan
under which we now issue stock options (the &#8220;Option Plan&#8221;). In December 2004, we
filed a Registration Statement on Form S-8 with the SEC registering (i) 170,000
ordinary shares available for issuance upon exercise of stock options reserved
for grant under the Option Plan, (ii) 594,034 ordinary shares issued or issuable
upon exercise of options previously granted under the Option Plan, and (iii)
109,412 ordinary shares issued or issuable upon exercise of options previously
granted under the 1999 Option Plan. The Option Plan is intended to provide
incentives to our employees, officers, directors and/or consultants by providing
them with the opportunity to purchase our ordinary shares. The Option Plan is
subject to the provisions of the Israeli Companies Law, administered by the
Compensation Committee, and is designed: (i) to comply with Section 102 of the
Israeli Tax Ordinance or any provision which may amend or replace it and the
rules promulgated thereunder and to enable us and grantees thereunder to benefit
from Section 102 of the Israeli Tax Ordinance and the Commissioner&#8217;s Rules; and
(ii) to enable us to grant options and issue shares outside the context of
Section 102 of the Israeli Tax Ordinance. Options granted under the Option Plan
will become exercisable ratably over a period of three to five years or
immediately in certain circumstances, commencing with the date of grant. The
options generally expire no later than 10 years from the date of grant. Any
options, which are forfeited or canceled before expiration, become available for
future grants. As of December 31, 2008, 3,913,660 ordinary shares are available
for future grants of options, warrants, shares and other financial
instruments.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As a
result of an amendment to Section 102 of the Israeli Tax Ordinance as part of
the 2003 Israeli tax reform, and pursuant to an election made by us thereunder,
capital gains derived by optionees arising from the sale of shares issued
pursuant to the exercise of options granted to them under Section 102 after
January 1, 2003 will generally be subject to a flat capital gains tax rate of
25%. Previously, such gains were taxed as salary income at the employee&#8217;s
marginal tax rate (which could be up to 50%). However, as a result of this
election, we will no longer be allowed to claim as an expense for tax purposes
the amounts credited to such employees as a benefit when the related capital
gains tax is payable by them, as we had previously been entitled to do under
Section 102. For certain information as to the Israeli tax reform, see
&#8220;Taxation.&#8221; in Item 10.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On June
27, 2007,&#160;our Compensation Committee and&#160;Board of Directors approved a
new option plan under which the Company may grant stock options to the U.S.
employees of the Company&#160;and its subsidiaries. Under this new option plan,
the Company may grant both qualified (for preferential tax treatment) and
non-qualified stock options. On August 15, 2007 the new option plan was approved
by the shareholders of the Company at the general shareholders
meeting.&#160;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On May
30, 2006, the Board of Directors approved a grant of options to acquire up to
93,501 ordinary shares to certain employees and officers. The exercise price of
these options is $4.42 per share.</font><br></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">69</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
2007 the Board of Directors approved grants of options as follows:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <div align="left">
          <div align="left">
            <div style="MARGIN-LEFT: 36pt; TEXT-ALIGN: left" align="center">
              <table cellpadding="0" cellspacing="0" width="60%" style="TEXT-ALIGN: left">
                  <tr style="TEXT-ALIGN: left;">
                    <td valign="bottom" width="45%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number&#160;of&#160;options</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">granted</font></div>
                    </td>
                    <td valign="bottom" width="10%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="44%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercise&#160;price</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="right" valign="bottom" width="45%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;37,400</font></div>
                    </td>
                    <td align="right" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.412</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="right" valign="bottom" width="45%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;71,500</font></div>
                    </td>
                    <td align="right" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.100</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="right" valign="bottom" width="45%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;21,000</font></div>
                    </td>
                    <td align="right" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.900</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="right" valign="bottom" width="45%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;62,333</font></div>
                    </td>
                    <td align="right" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.014</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="right" valign="bottom" width="45%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;47,372</font></div>
                    </td>
                    <td align="right" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.058</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="right" valign="bottom" width="45%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;5,500</font></div>
                    </td>
                    <td align="right" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.850</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="right" valign="bottom" width="45%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">141,500</font></div>
                    </td>
                    <td align="right" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.640</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="right" valign="bottom" width="45%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">34,000</font></div>
                    </td>
                    <td align="right" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.120</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td valign="bottom" width="45%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
              </table>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">An
additional 217,600 options were granted during 2007 to related parties including
directors.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
2008, the Board of Directors approved grants of options as follows:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <div align="left">
          <div style="MARGIN-LEFT: 36pt; TEXT-ALIGN: left" align="center">
            <table cellpadding="0" cellspacing="0" width="60%" style="TEXT-ALIGN: left">
                <tr style="TEXT-ALIGN: left;">
                  <td valign="bottom" width="45%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number&#160;of&#160;options</font></div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">granted</font></div>
                  </td>
                  <td valign="bottom" width="10%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="44%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercise&#160;price</font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="right" valign="bottom" width="45%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;2,000</font></div>
                  </td>
                  <td align="right" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.38</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="right" valign="bottom" width="45%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;43,000</font></div>
                  </td>
                  <td align="right" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.88</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
            </table>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
September 2008, the Board of Directors approved a re-pricing of options for
three executive officers for a total of 149,600 options, which had exercise
prices ranging from $2.47 to $14.8235. The re-pricing changed the exercise price
of the options to $1.86. The incremental compensation cost at the date of the
modification was $66,000 of which $59,000 was recognized during
2008.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
December, 2008, according the Special General Meeting (see note 15f in the
financial reports), 20,400 options held by a director, with an exercise price of
$5, were re-priced to an exercise price of $1.1 and it was decided that all such
options with an expiration date prior to October 27, 2013&#160;shall nonetheless
be exercisable until October 27, 2013. The Special General Meeting approved also
the re-pricing and the extension (if applicable) of 334,217&#160;options held by
related parties. See notes 15a and 15b in the financial reports. The incremental
compensation cost at the date of the modification amounted to $44,000 and was
recognized as expense since all of the options were fully vested.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For
options grants after the balance sheet, see also note 19, in the financial
reports.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A summary
of our stock option activity and related information is as follows:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <div align="center">
          <div align="right">
            <div align="right">
              <table cellpadding="0" cellspacing="0" width="90%">
                  <tr>
                    <td valign="bottom" width="28%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="22" nowrap valign="bottom" width="70%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year&#160;ended&#160;December&#160;31</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr>
                    <td valign="bottom" width="28%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="6" nowrap valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2006</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="6" nowrap valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="6" nowrap valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr>
                    <td valign="bottom" width="28%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">of</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">options</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted&#160;</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">average</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercise</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">price</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">of</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">options</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Average</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">exercise</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">price</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">of</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">options</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Average</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">exercise</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">price</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Outstanding
      at beginning of year</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">595,971</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.77</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">553,902</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.12</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,076,756</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.43</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Granted</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">93,501</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.42</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">638,205</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.86</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">45,000</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.95</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercised</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(43,152</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.48</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(25,968</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.16</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(27,032</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.32</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="28%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Canceled
      and forfeited</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(92,418</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.95</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(89,383</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.06</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(113,262</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.17</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="28%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Outstanding
      at end of year</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">553,902</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.12</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,076,756</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.43</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">981,462</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.55</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(*)</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="28%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercisable
      at end of year</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">481,651</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.18</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">591,485</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.81</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">663,021</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.51</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(*)</font></td>
                  </tr>
              </table>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(*) The
weighted average exercise price, presented of December 31, 2008, is after the
re-pricing made during 2008, as mentioned above and in note 15, in the financial
reports.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">70</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
weighted average fair value of options granted during the reported period was
$1.89, $2.87 and $0.88, per option, for the years ended December 31, 2006, 2007
and 2008, respectively. The fair value of these options was estimated on the
date of grant using the Black &amp; Scholes option pricing model. The following
weighted average assumptions were used for the 2006, 2007 and 2008 grants: risk
free rate of 5%, 4.05% and 4.24%, respectively; dividend yield of 0%; expected
volatility factor of 57.17, 57.2% and 52.29% respectively; and expected term of
3.09, 3.64 and four years, respectively.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
expected volatility was based on the historical volatility of our stock. The
expected term was based on the historical experience and Management
estimate.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Compensation expenses recognized by us
related to our share-based employee compensation awards were $225,000,
$1,032,000 and $856,000 based on the provisions of SFAS 123R for the years ended
December&#160;31, 2006, 2007 and 2008, respectively.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
options outstanding and exercisable as of December 31, 2008, have been separated
into ranges of exercise prices as follows:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <div align="center">
          <div align="right">
            <div align="right">
              <table cellpadding="0" cellspacing="0" width="97%">
                  <tr>
                    <td valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Range&#160;of&#160;exercise</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">price</font></div>
                    </td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Options</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">outstanding</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">as&#160;of</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December&#160;31,</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">average</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">remaining</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">contractual</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">life&#160;(years)</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">average</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercise</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">price</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Aggregate</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">intrinsic</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">value</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Options</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">exercisable</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">as&#160;of&#160;</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December&#160;31,</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">average</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">exercise&#160;price</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Aggregate</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">intrinsic</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">value</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr>
                    <td valign="bottom" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td valign="bottom" width="16%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$
      0.01 - $ 0.06</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">86,019</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.56</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.015</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">50</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">28,673</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.015</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td valign="bottom" width="16%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.10
      - $ 1.88</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">547,217</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.86</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.37</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">424,598</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.33</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td valign="bottom" width="16%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$
      2.47 - $ 3.38</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">35,626</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.54</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.01</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">33,626</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.99</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td valign="bottom" width="16%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$
      4.18 - $ 4.90</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">192,400</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7.46</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.52</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">98,124</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.41</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td valign="bottom" width="16%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$
      5.00 - $ 5.24</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">103,200</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.85</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.06</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">61,000</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.08</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td valign="bottom" width="16%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$
      14.82</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17,000</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.25</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14.82</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17,000</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14.82</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td valign="bottom" width="16%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td valign="bottom" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td valign="bottom" width="16%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">981,462</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.55</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">663,021</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.51</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
              </table>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
aggregate intrinsic value of the above table represents the total intrinsic
value, based on the Company&#8217;s stock price of $0.60 as of December 31, 2008, less
the weighted average exercise price per range. This represents the potential
amount received by the option holders had all option holders exercised their
options as of that date.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A summary
of the status of the Entity&#8217;s non-vested options granted to employees as of
December 31, 2008 and changes during the year ended December 31, 2008 is
presented below:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <div align="center">
          <div style="MARGIN-LEFT: 90pt; TEXT-ALIGN: left" align="center">
            <table cellpadding="0" cellspacing="0" width="70%" style="TEXT-ALIGN: left">
                <tr style="TEXT-ALIGN: left;">
                  <td valign="bottom" width="69%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Options</font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted&#8211;</font></div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">average&#160;grant-</font></div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">date&#160;fair&#160;value</font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr>
                  <td valign="bottom" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td valign="bottom" width="69%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Non-vested
      at January 1, 2008</font></div>
                  </td>
                  <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">485,271</font></td>
                  <td align="left" nowrap valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.31</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td valign="bottom" width="69%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Granted</font></div>
                  </td>
                  <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">45,000</font></td>
                  <td align="left" nowrap valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.88</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td valign="bottom" width="69%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Vested
      (including cancelled and exercised)</font></div>
                  </td>
                  <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(158,330</font></td>
                  <td align="left" nowrap valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.18</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td valign="bottom" width="69%" style="PADDING-BOTTOM: 2px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Forfeited</font></div>
                  </td>
                  <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(53,500</font></td>
                  <td align="left" nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="12%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.06</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td valign="bottom" width="69%" style="PADDING-BOTTOM: 4px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Non-vested
      at December 31, 2008</font></div>
                  </td>
                  <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">318,441</font></td>
                  <td align="left" nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="12%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.21</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
            </table>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of
December 31, 2008, there was $353,000 total unrecognized compensation cost
related to non-vested share-based compensation arrangements granted under the
stock option plans, of which $261,000 is expected to be recognized during the
year 2009, $89,000 during the year 2010 and $3,000 during the year
2011.</font><br></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">71</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">ITEM
7.&#160;&#160;&#160;&#160;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Major
Shareholders and Related Party Transactions.</font>&#160;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">A.&#160;&#160;&#160;&#160;Major
shareholders</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
following table lists the beneficial ownership of our securities as of May 31,
2009 by each person known by us to be the beneficial owner of more than 5% of
the outstanding shares of any class of our securities.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Beneficial
ownership is determined in accordance with the rules of the SEC and generally
includes voting or investment power with respect to securities. The principal
address of our Beneficial Owners listed below (all but Jacob Hassan, Special
Situations Fund III, L.P., Special Situations Fund III, Q.P, Special Situations
Cayman Fund, L.P. and Homeland Security Capital Corporation) is c/o Vuance Ltd.,
Sagid House &#8220;Hasharon Industrial Park&#8221; P.O.B 5039, Qadima 60920 Israel. We
believe that all persons named in the table, except HMSC, have sole voting and
sole investment power with respect to all shares beneficially owned by them. All
figures include ordinary shares issuable upon the exercise of convertible bonds,
options and warrants exercisable within 60 days of May 31, 2009 and deemed to be
outstanding and beneficially owned by the person holding those bonds, options or
warrants for the purpose of computing the percentage ownership of that person,
but are not deemed to be outstanding for the purpose of computing the percentage
ownership of any other person. None of the following major shareholders have
different voting rights from the other holders of our ordinary
shares.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <div align="center">
          <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
            <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
              <div style="MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                <table cellpadding="0" cellspacing="0" width="80%">
                    <tr>
                      <td valign="bottom" width="76%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Name&#160;of&#160;Beneficial&#160;Owner</font></font></div>
                      </td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number&#160;of&#160;Shares</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Beneficially&#160;Owned</font></font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Percentage&#160;of&#160;Shares</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Outstanding</font></font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="76%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Jacob
      Hassan (1)</font></div>
                      </td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">423,125</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7.71</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="left" valign="bottom" width="76%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Avi
      Landman (2)</font></div>
                      </td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">464,082</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.40</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td valign="bottom" width="76%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Eli
      Rozen (3)</font></div>
                      </td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">741,439</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12.81</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td valign="bottom" width="76%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Special
      Situations Fund III, L.P. (&#8220;SSF&#8221;)(4)</font></div>
                      </td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">*</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">*</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td valign="bottom" width="76%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Special
      Situations Fund III, Q.P. (&#8220;SSFQP&#8221;)(5)</font></div>
                      </td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,471,643</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">25.12</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td valign="bottom" width="76%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Special
      Situations Cayman Fund, L.P. (&#8220;Cayman&#8221;)(6)</font></div>
                      </td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">**</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">**</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td valign="bottom" width="76%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Homeland
      Security Capital Corporation ("HMSC") (7)</font></div>
                      </td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">692,660</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12.68</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td valign="bottom" width="76%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Investor
      through convertible bond (8)</font></div>
                      </td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">939,583</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14.68</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></td>
                    </tr>
                </table>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(1)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr.
      Hassan&#8217;s address is 21 Shnat Hayovel, Hod Hasharon, Israel. Includes (a)
      398,881 shares held directly by Jacob Hassan, and (b) options to purchase
      24,244 ordinary shares which are currently exercisable or exercisable
      within 60 days of May 31, 2009.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(2)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Includes
      (a) 398,780 ordinary shares held by Avi Landman, of which 85,000 shares
      are held by Ashland, and (b) options to purchase 65,302 ordinary shares
      which are currently exercisable or exercisable within 60 days of May 31,
      2009.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(3)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Includes
      (a) 412,311 shares held directly by Eli Rozen, and (b) options to purchase
      329,128 ordinary shares which are currently exercisable or exercisable
      within 60 days of May 31, 2009, of which 152,317 ordinary shares are held
      by Finel.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(4)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">*
      Includes (a) 66,610 ordinary shares, (b) 790,247 shares held by its
      affiliate, SSFQP, (c) warrants held by SSFQP to purchase 197,292 ordinary
      shares which are currently exercisable or exercisable within 60 days of
      May 31, 2009, (d) convertible bond which can be convert into 115,294
      ordinary shares (e) 217,113 ordinary shares held by its affiliate, Cayman,
      (f) warrants held by Cayman to purchase 53,660 ordinary shares which are
      currently exercisable or exercisable within 60 days of May 31, 2009 and
      (g) convertible bond which can be converted into 31,427 ordinary
      shares.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(5)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Includes
      (a) 790,247 ordinary shares, (b) warrants to purchase 197,292 ordinary
      shares which are currently exercisable or exercisable within 60 days of
      May 31, 2009, (c) convertible bond which can be converted into 115,294
      ordinary shares, (d) 66,610 shares held by its affiliate,
      SSF,&#160;&#160;(e) 217,113 ordinary shares held by its affiliate, Cayman,
      and (f) warrants held by Cayman to purchase 53,660 ordinary shares which
      are currently exercisable or exercisable within 60 days of May 31, 2009
      and (g) convertible bond which can be convert into 31,427 ordinary
      shares<font style="DISPLAY: inline; FONT-WEIGHT: bold">.</font></font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(6)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">**Includes
      (a) 217,113 ordinary shares, (b) warrants to purchase 53,660 ordinary
      shares which are currently exercisable or exercisable within 60 days of
      May 31, 2009, (c) convertible bond which can be convert into 31,427
      ordinary shares, (d) 790,247 shares held by its affiliate, SSFQP, (e)
      warrants held by SSFQP to purchase 197,292 ordinary shares which are
      currently exercisable or exercisable within 60 days of May 31, 2009, (f)
      convertible bond which can be convert into 115,294 ordinary shares and (g)
      66,610 ordinary shares held by its affiliate,
  SSF.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">72</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(7)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">HMSC
      granted an irrevocable power of attorney to our Chairman of the Board of
      Directors to exercise all voting rights related to its Vuance Shares until
      the sale or transfer of such Vuance Shares by HMSC to an unaffiliated
      third party in an arm&#8217;s-length transaction. (The shares are subject to a
      lock-up and are not registered (see note 1a to the financial reports
      below).)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(8)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Includes
      (a) warrants to purchase 106,250 ordinary shares which are currently
      exercisable or exercisable within 60 days of May 31, 2009, (b) convertible
      bond which could be converted into 833,333 ordinary
  shares.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To the
best of our knowledge based on the information known to us, there has not been
any significant change in the percentage ownership of the our major shareholders
during the last three years other than changes resulting from our private
placements in 2005, the issuance of convertible bonds in November, 2006, the
shares issued according to the acquisition of SHC, the exercise of warrants
issued in those offerings, and the grant of options to Messrs. Rozen, Landman
and Jacob Hassan.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of
December 31, 2008 and June 19, 2009, to the best of our knowledge based on the
information available to us, we had approximately 29 registered holders of our
ordinary shares, and approximately 425 beneficial holders of our ordinary
shares, respectively.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To the
best of our knowledge based on the information currently available to us, there
are no existing arrangements that may at a future date result in a change of
control of Vuance.<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 12.2pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">B.</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Related Party Transactions
      </font></font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>It is our policy to enter into
transactions with related parties on terms that, on the whole, are no less
favorable than those that would be available from unaffiliated parties. Based on
our experience in the business segments in which we operate and the terms of our
transactions with unaffiliated third parties, we believe that all of the
transactions described below met our policy standards at the time they
occurred.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
October 1, 2001, we entered into a consulting agreement with a company owned by
the Chairman of our Board of Directors who was one of our co-founders. In
consideration of these consulting services, we have undertaken to
pay&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;$10,500 per month plus
motor vehicle expenses. In addition, we pay $1,500 per month as a director&#8217;s
fee. During 2008 we paid $121,000 pursuant to this agreement. (Regarding the
deduction in the amount paid during 2008, see note 15f, in the financial
reports.)</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
December, 2008, according the Special General Meeting (see note 15f in the
financial reports), 296,817 options with an exercise price in the range of
$2.4706 to $5 were re-priced to $1.1 and all such options with an expiration
date prior to October 27, 2013, shall nonetheless be exercisable until October
27, 2013.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
October 1, 2001, we entered into a consulting agreement with a company owned by
a member of our Board of Directors, who was also one of our co-founders and a
principal shareholder. On January 13 2005, the General Shareholders Meeting
approved the following amendments to the consulting agreement:</font></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 35.45pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As
      of the date of the approval of the General Shareholders Meeting, the
      consideration shall be to an amount of $7,000 per
  month.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 35.45pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Upon
      the termination of the car lease agreement, to increase the car lease, to
      a price of up to NIS 4,200 (approximately $ 1,100 as of December 31,
      2008), (excluding tax) per month.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 35.45pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To
      grant a one-time bonus of NIS 130,000 including VAT which was paid during
      the year 2005.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>In addition, the Company pays $1,500
per month as a director&#8217;s fee. In 2008, we paid $84,000 pursuant to this
agreement.&#160;&#160;(Regarding the deduction in the amount paid during 2008,
see note 15f, in the financial reports.)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
December, 2008, according the Special General Meeting (see note 15f in the
financial reports), 37,400 options with an exercise price in the range of
$2.4706 to $5 were re-priced to $1.1 and all such options with an expiration
date prior to October 27, 2013 shall nonetheless be exercisable until October
27, 2013.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
October 1, 2001, we entered into a consulting agreement with a company owned by
one of the co-founders of the Company. In consideration for these services, we
have undertaken to pay $4,600 per month plus motor vehicle expenses. During
2008, we paid $58,000, pursuant to this agreement. (Regarding the deduction in
the amount paid during 2008, see note 15f, in the financial
reports.)</font><br></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">73</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
January 13, 2005, the General Shareholders Meeting approved, among other things,
the Board of Directors&#8217; decision dated October 4, 2004 to grant options to
acquire up to 51,001 ordinary shares to the Chairman of the Board of Directors
and 8,500 ordinary shares to each of the two directors of the Company, who are
not &#8220;outside directors.&#8221; The exercise price of the options is $5 per share.
Those options were granted as compensation for their efforts in completing a
private placement during 2004.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
January 21, 2007, the General Shareholders Meeting approved the grant of options
to the Chairman of the Board of Directors and to a director who is one of the
co-founders to acquire up to 51,000 and 20,400 ordinary shares of the Company,
respectively, at an exercise price of $5.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On April
29, 2007, the General Shareholders Meeting approved the grant of options to the
Chairman of the Board of Directors and to two external directors to acquire up
to 85,000 and 40,800 ordinary shares of the Company, respectively, at an
exercise price of $4.118 and $5, respectively.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On August
15, 2007, the General Meeting of Shareholders approved the grant of options to a
director to acquire up to 20,400 ordinary shares of the Company, at an exercise
price of $5. In December 2008 according the Special General Meeting (see Note
15f below), the options were re-priced to $1.1 and all such options shall
nonetheless be exercisable until October 27, 2013.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 35.45pt"></font>On December 21, 2008, the Special
General Shareholders Meeting approved that as part of a cost cutting plan, all
of our non-external directors will join a temporary arrangement pursuant to
which the remuneration payable to them shall be paid in fully vested options to
purchase shares of the Company instead of in cash, effective October 1, 2008,
for a minimum period of three months, with an option to us to extend it from
time to time for additional consecutive periods of up to twelve (12) months in
the aggregate. In addition (a) all options held by the Participants on October
27, 2008 shall be re-priced so that the exercise price thereof shall be $1.10
(the closing price of our Ordinary Shares on October 27, 2008), and (b) all such
options with an expiration date prior to October 27, 2013 shall nonetheless be
exercisable until October 27, 2013.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
January 9, 2009, according to the board resolution on October 27, 2008 and the
Special General Meeting dated December 21, 2008, we granted to (a) our Chairman
of the Board of Directors, (b) a member of our Board of Directors who is also
one of our co-founders, (c) one of the co-founders, and (d) another member of
our Board of Directors options to purchase up to 49,311, 34,702, 24,244 and
6,164 shares, respectively. The options have an exercise price of 0.0582235 NIS
per share, vesting immediately, and will expire after ten years. The options
were granted as a compensation for three months of waiving their cash payment
according to their agreement with us.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">C.&#160;&#160;
Interests of Experts and Counsel</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
applicable.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">74</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
8.&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-STYLE: italic">Financial
Information.</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">A.&#160;
&#160;&#160;&#160;Consolidated Statements and Other Financial Information
(Audited)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Refer to
Item 18, which contains the following financial statements:</font></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8226;</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Consolidated
      Balance Sheets</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8226;</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Consolidated
      Statements of Operations</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8226;</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Statements
      of Changes in Shareholders&#8217; Equity</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8226;</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Consolidated
      Statements of Cash Flows</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8226;</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notes
      to Consolidated Financial
Statements</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Export
Sales</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Sales in
Israel during each of the years 2006, 2007 and 2008 was $194,000, $371,000 and
$294,000, respectively. Export sales during each of the years 2006, 2007 and
2008 was $8,747,000 (98% of the total sales volume), $12,943,000 (97% of the
total sales volume) and $20,359,000 (99% of the total sales volume),
respectively.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Legal
Proceedings</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We
are party to legal proceedings in the normal course of our business. Other than
as described below, there are no material pending legal proceedings to which we
are a party or of which our property is subject. Although the outcome of claims
and lawsuits against us cannot be accurately predicted, we do not believe that
any of the claims and lawsuits described in this paragraph, individually or in
the aggregate, will have a material adverse effect on our business, financial
condition, results of operations or cash flows for any quarterly or annual
period.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
January 20, 2008, the Manufacturers Association of Israel (the "Plaintiff")
filed a lawsuit with the labor court in Tel Aviv-Jaffa (the "Court") against us,
seeking an amount of NIS 82,789 + VAT (as of June 20, 2008 approximately $25,700
+ VAT) for service fees for the years 2001-2007, as well as legal expenses and
attorney<font style="DISPLAY: inline; FONT-SIZE: 10pt">'</font>s fees of the
Plaintiff. In addition, the Plaintiff has asked the Court to instruct us to
submit the necessary documentation, certified by the Company<font style="DISPLAY: inline; FONT-SIZE: 10pt">'</font>s accountant, needed to
calculate the service fees sought by the Plaintiff.&#160;&#160;During 2008, we
and the Plaintiff reached a settlement; accordingly, we will pay $8,000, as a
compromise that was included in the financial reports in 2008.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On May 1,
2006, Evilia Investments Ltd. ("Evilia") filed in the Magistrate's Court in
Tel-Aviv-Jaffa a claim for damages against InkSure and against us, jointly and
severally, for payment of NIS 2,366,868 (as of June 15, 2006, approximately
$530,000) plus interest, allegedly due as rent payments and related management
fees for a certain real estate property in Rehovot, leased to InkSure under a
lease agreement entered into by Evilia and InkSure on October 10, 2000, as
amended on May 25, 2001 (the "Agreement"), as to which we are a guarantor. A
motion for leave to defend the lawsuit was filed with the Magistrate&#8217;s Court by
both InkSure and us on June 15, 2006. On August 6, 2006, a settlement agreement
was submitted to the Magistrate&#8217;s Court, pursuant to which InkSure agreed to pay
Evilia the amount of $130,000 plus VAT. On August 13, 2006, the Magistrate&#8217;s
Court approved the settlement agreement. We agreed to pay (and paid) InkSure
half of the settlement amount.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In April
2004, the Department for Resources Supply of the Ministry of Ukraine (the
"Department") filed with the International Commercial Arbitration Court at the
Ukrainian Chamber of Commerce and Industry (the &#8220;Arbitration Court&#8221;) a claim to
declare Contract No. 10/82 (the &#8220;Contract&#8221;), dated April 9, 2002, between us and
the Ministry of Internal Affairs of Ukraine (the "Ministry") void due to defects
in the proceedings by which we were awarded the Contract. In July, 2004, the
Arbitration Court declared the Contract void. On April 27, 2005, we appealed the
decision in the High Commercial Court of Ukraine. In May, 2005, the Department
filed with the Arbitration Court a new statement of claim for restitution of
$1,047,740, paid to us by the Department under the Contract. On September 27,
2005, we received a negative award issued by the Arbitration Court in the second
claim (the "Award"). On December 12, 2005, we were informed that the Supreme
Court of Ukraine had dismissed our appeal regarding the July, 2004 decision. On
June 29, 2006, the Supreme Court of Ukraine held that the Arbitration Court
award was valid and legal under applicable law.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">75</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
September 28, 2008, the Department filed a petition (the "Petition") in the
Central District Court of Israel (the "Court"), under which the Department
requested the approval of the Award as a valid foreign arbitral award under the
laws of the State of Israel.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
November 2008, we filed with the Court an objection to the Petition and a
petition to declare the Award null and void. Our objection and petition rely on
what we believe to be well-based evidence that we have against the manner under
which the arbitration proceedings were conducted by the Arbitration Court and
against their validness and legality. We believe that the arbitration
proceedings were conducted partially and jeopardized our basic rights. Our
claims are also corroborated by a contrary legal opinion written in the
arbitration decision by one of the arbitrators ("Arbitrator").</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
February 16, 2009 the Department filed its response to our claims (the
"Response"). The Department raised in its Response procedural and other claims,
including a claim that we filed in Ukraine a monetary claim which is based on
the Award and the filing of such claim basically affirms our acknowledgment that
the Award is valid. On March 25, 2009, we filed a response to the Department's
response and a requisition to order the Arbitrator to testify in the scope of
the Petition proceedings (the Court's decision regarding the said request has
not been given yet).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On June
6, 2009, a preliminary court session was held regarding the Petition. During the
session, the Department's counsel claimed that one of the two machines that we
previously supplied pursuant to the Contract (which machine is priced higher
than the amount of the Department's claim), was not supplied to the Department
and was transferred by us to another Ukrainian governmental authority. It is
noted that we have documents that evidence that, contrary to the Department's
claim, we supplied both of the machines directly to the Department. The file was
scheduled for an additional session on September 23, 2009.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Based on
the opinion of our legal advisors, we believe that the above mentioned Ukraine
Arbitration Court decision is incorrect, as a matter of law, that the Ukrainian
government&#8217;s claim has no merit and that the Ukrainian Arbitration Proceedings
were legally defective. We further believe that there is a good chance that
Petition will be denied. Therefore no provision has been made in the financial
statements with respect to the claim for restitution of $1,047,740.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We did
not have any revenues from this project in 2006, 2007 or 2008.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
October 30, 2003, SuperCom Slovakia, a subsidiary (66%) of Vuance Ltd., received
an award from the International Arbitral Centre of the Austrian Federal Economic
Chamber ("IAC"), in a case against the Ministry of Interior of the Slovak
Republic relating to the agreement on delivery of Technology, Cooperation and
Services signed on March 17, 1998. Upon the Arbitral Award, the Ministry of
Interior of the Slovak Republic was ordered to pay SuperCom Slovakia the amount
of SKK 80,000,000 (approximately $3,758,000 as of December 31, 2008) plus
interest accruing from March, 1999. In addition, the Ministry of Interior of the
Slovak Republic was ordered to pay the costs of arbitration in the amount of EUR
42,716 (approximately $60,000 as of December 31, 2008) and SuperCom Slovakia's
legal fees in the amount of EUR 63,611 (approximately $89,000 as of December 31,
2008). We have begun an enforcement proceeding to collect the arbitral award.
The Ministry of Interior of the Slovak Republic filed a claim with the
Commercial Court in Vienna, Austria on February 10, 2004, whereby it challenged
and requested to set aside the arbitral award. During September, 2005, the
commercial court of Vienna dismissed the claim. On October 21, 2005, the
Ministry of the Interior of the Slovak Republic filed an appeal. On August 25,
2006, the Austrian Appellate Court rejected the appeal and ordered the Ministry
to reimburse Supercom Slovakia&#180;s costs of the appellate proceeding in the amount
of EUR 6,688 within 14 days. On October 3, 2006, we were informed that the
Ministry had decided not to file an extraordinary appeal to the Austrian Supreme
Court&#8217;s decision rejecting its appeal. To date, our efforts to enforce the
Commercial Court&#8217;s decision have been unsuccessful.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;On
December 16, 1999, Secu-Systems Ltd. ("Secu-systems") filed a lawsuit with the
District Court in Tel-Aviv-Jaffa jointly and severally against us and InkSure
Ltd. ("InkSure") (our former subsidiary, which became a subsidiary of InkSure
Technologies, Inc.) seeking a permanent injunction and damages arising from the
printing method applied to certain products developed by Inksure. In its
lawsuit, the plaintiff asserted claims of breach of a confidentiality agreement
between the plaintiff and us, unjust enrichment by us and InkSure, breach of
fiduciary duties owed to Secu-systems by us and InkSure, misappropriation of
trade secrets by us and InkSure, and damage to Secu-systems&#8217; property. On March
15, 2006, the Court denied the breach of contract claim, but upheld the claim
for misappropriation of trade secrets and ordered InkSure and us to cease all
activity involving the use of the confidential knowledge and/or confidential
information of the plaintiff. In addition, the court ordered us and Inksure to
provide a report certified by an accountant setting forth in full the income
and/or benefit received by InkSure and us as a result of the misappropriation
activity through the date of the judgment, and ordered us and Inksure, jointly
and severally, to pay to Secu-systems compensation in the sum of NIS 100,000
($26,000 as of December 31, 2008) and legal expenses as well as attorney&#8217;s fees
in the sum of NIS 30,000 ($8,000 as of December 31, 2008). Secu-systems has
filed an appeal, and we and InkSure filed a counter-appeal, on the ruling above.
On November 1, 2007, the Supreme Court accepted Secu-systems&#8217; appeal, and stated
that Inksure and us have breached the confidentiality agreement. Consequently,
the appeal that had been filed by Inksure and us was dismissed. The Supreme
Court instructed that the case will be returned to the District Court for
determining the remedies to which Secu-Systems is entitled.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">76</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
February 18, 2008, the Plaintiff filed a petition with the District Court asking
the court to allow Secu-systems to amend the amount for which it sued as stated
in the Statement of Claims to NIS 25,000,000 (approximately $6,575,000 as of
December 31, 2008). The petition is mainly based on the fact that in 2002,
Inksure was sold by us to a third party for a consideration of approximately
$6,000,000 and upon Secu-systems&#8217; assertion that such amount of consideration
constitutes a benefit and/or profit which seems to have been derived from the
breach of the confidentiality agreement and upon the assertion that Secu-systems
is entitled, in light of the Supreme Court's ruling with respect to the breach
of the confidentiality agreement, to receive such amount. Another argument made
by Secu-systems relates to the profit which Inksure, allegedly, generated from
the breach of the confidentiality agreement; this argument is based on a gross
profit of $6,400,000 according to the financial statements of Inksure for the
years 2002-2007.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On March
24, 2008, we provided our lawyers with an opinion of subject matter consultant,
according to which, the following conclusions can be drawn:</font></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 21.299pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 27pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a.</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
      light of the costs analysis, we had no economical profit from the sale of
      Inksure's shares.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 21.299pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 27pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b.</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      examination of the results of Inksure's business activity in 2002-2007, as
      reflected in its financial reports, show that Inksure has not made any
      profits, and even suffered losses in the said period. The financial
      reports also show that Inksure had a negative cash flow in these years,
      which was financed by bank loans and fund
  raising.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
December 8, 2008, a court session with respect to the petition was held and we
are waiting for the court decision.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In light
of the above, provided that the subject matter consultant's opinion is adopted
by the court, and further provided that Inksure's financial reports indeed
reflect its business results, our lawyers are of the opinion that no material
amounts will be awarded to Secu-systems in these proceedings.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Due to
the circumstances described above, we made an allowance of $100,000 that
reflects the expected legal expenses related to this litigation.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Dividend
Policy</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We
have not distributed a cash dividend since August 27, 1997 and we do not
anticipate any dividend distribution in the foreseeable future. Under the
Israeli Companies Law, dividends may only be paid out of profits legally
available for distribution (the &#8220;Profits Criteria&#8221;) and provided that there is
no reasonable concern that such payment will prevent us from satisfying our
existing and foreseeable obligations as they become due. In addition, a
competent court may approve, as per a motion to be filed by a company in
accordance with the Israeli Companies Law requirements, a payment which does not
meet the Profit Criteria, provided that the court was convinced that there is no
reasonable concern that such payment will prevent the company from satisfying
its existing and foreseeable obligations as they become due.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
accordance with our Articles of Association, our Board of Directors may from
time to time declare and cause the Company to pay to the shareholders such
interim or final dividends as the Board of Directors deems appropriate
considering the profits of the Company and in compliance with the provisions of
the Israeli Companies Law.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Subject
to the rights of the holders of shares as to dividends, and to the provisions of
our Articles of Association, dividends, whether in cash or in bonus shares,
shall be paid or distributed, as the case may be, to shareholders pro rata to
the amount paid up or credited as paid up on account of their shares, without
taking into consideration any premium paid thereon.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">B.&#160;&#160;&#160;&#160;Significant
Changes</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">There
have not been any significant changes since the date of the annual financial
statements included under Item 18 of this Annual Report.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">77</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
9.&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-STYLE: italic">The
Offer And Listing.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Offer and Listing
Details</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
tables included below set forth information regarding the price history of the
ordinary shares on the Euronext Brussels stock market and the OTC Bulletin
Board/NASDAQ for the periods indicated.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We were
traded on the NASDAQ Europe stock market since April 19, 1999. On October 23,
2003, following the closing of the NASDAQ Europe stock market, we transferred
the listing of our shares to Euronext Brussels stock market where we traded
under the symbol &#8220;VUNC.&#8221; We applied for delisting of our shares from the
Euronext Brussels stock market, and our application was approved on May 6, 2008,
effective August 4, 2008.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;Our
ordinary shares were quoted on the OTC Bulletin Board Market under the symbol
&#8220;VUNC.OB,&#8221; from November 5, 2004 until August 22, 2007.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
ordinary shares approved for listing on NASDAQ and began trading effective
August 23, 2007. The shares are traded on NASDQ under the symbol
&#8220;VUNC.&#8221;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
December 11, 2008, we received a letter from NASDAQ advising us that we did not
comply with the Listing Requirements. As a result, the NASDAQ Staff began
reviewing our eligibility for continued listing on NASDAQ. To facilitate their
review, the NASDAQ Staff requested that we provide our specific
Plan.&#160;&#160;After we submitted the Plan, on March 30, 2009 we received
further correspondence from NASDAQ that we did not comply with the Listing
Requirements, and therefore, trading of our ordinary shares would be suspended
at the opening of business on April 8, 2009, and a form 25-NSE would be filed
with the SEC removing our securities from listing and registration on NASDAQ,
unless we requested an appeal of the delisting decision by
NASDAQ.&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
appealed the NASDAQ determination to a NASDAQ Listings Qualifications Panel (the
&#8220;Panel&#8221;), which automatically stayed the delisting of our ordinary shares until
the Panel reached a decision.&#160; On June 17, 2009, the Panel granted our
request for an extension of time to achieve full compliance with the Listing
Requirements.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Panel&#8217;s decision, and our continued listing on NASDAQ, is subject to our
compliance with certain conditions, including demonstration that we have
regained compliance with the Listing Requirements by September 28, 2009. While
we are executing on its plan to regain compliance, there can be no assurance
that we will be able to do so.&#160;&#160;Should we be unable to meet the
exception requirement, the Panel will issue a final determination to delist our
shares and, unless the Nasdaq Listing and Hearings Review Council issues a stay,
will suspend trading of our shares on NASDAQ effective on the second business
day from the date of the final determination and our ordinary shares could be
eligible for quotation and trading on the OTC Bulletin Board in accordance with
applicable rules and regulations.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
following table shows, for the periods indicated, the high and low closing
prices of our ordinary shares in Euros as reported on the NASDAQ Europe stock
market or the Euronext Brussels stock market, as applicable until August 4, 2008
(conversion to U.S. dollars is based on the exchange rate published by the Bank
of Israel). The following table also shows, for the periods indicated since
November 5, 2004, the high and low closing prices of our ordinary shares on the
OTC Bulletin Board Market or NASDAQ, as applicable.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company has not issued any securities in connection with a pre-emptive
issue.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">78</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <div align="center">
          <div align="center">
            <div align="center">
              <div align="center">
                <div align="center">
                  <div align="left">
                    <div style="TEXT-ALIGN: left" align="center">
                      <div style="TEXT-ALIGN: left" align="center">
                        <table cellpadding="0" cellspacing="0" width="90%" style="TEXT-ALIGN: left">
                            <tr style="TEXT-ALIGN: left;">
                              <td valign="bottom" width="52%" style="BORDER-BOTTOM: black 2px solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Period</font></font></div>
                              </td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="6" nowrap valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">European market (1)</font></font></div>
                              </td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="6" nowrap valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">US market (2)</font></font></div>
                              </td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr>
                              <td valign="bottom" width="52%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="6" nowrap valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Per share ($)</font></font></div>
                              </td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="6" nowrap valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Per share ($)</font></font></div>
                              </td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr>
                              <td valign="bottom" width="52%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">High</font></font></div>
                              </td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Low</font></font></div>
                              </td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">High</font></font></div>
                              </td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Low</font></font></div>
                              </td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td valign="bottom" width="52%" style="PADDING-BOTTOM: 2px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline">Annual</font></font></div>
                              </td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="2" nowrap valign="bottom" width="10%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="2" nowrap valign="bottom" width="10%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="2" nowrap valign="bottom" width="10%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="2" nowrap valign="bottom" width="10%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td align="left" valign="bottom" width="52%">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2004</font></div>
                              </td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15.65</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.24</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15.59</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td align="left" valign="bottom" width="52%">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2005</font></div>
                              </td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">16.41</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.12</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15.06</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.29</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td align="left" valign="bottom" width="52%">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2006</font></div>
                              </td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.71</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.18</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.59</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.24</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td align="left" valign="bottom" width="52%">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                              </td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.28</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.58</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.18</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.82</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td align="left" valign="bottom" width="52%">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                              </td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.90</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1)</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.40</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1)</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.69</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.29</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td valign="bottom" width="52%" style="PADDING-BOTTOM: 2px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline">Financial quarters</font></font></div>
                              </td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 2px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline">2007</font></font></div>
                              </td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td align="left" valign="bottom" width="52%">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">First
      quarter</font></div>
                              </td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.24</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.58</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.41</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.82</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td align="left" valign="bottom" width="52%">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Second
      quarter</font></div>
                              </td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.28</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.58</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.18</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.10</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td align="left" valign="bottom" width="52%">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Third
      quarter</font></div>
                              </td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.97</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.21</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.22</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.42</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td align="left" valign="bottom" width="52%">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fourth
      quarter</font></div>
                              </td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.11</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.74</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.15</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.11</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 2px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline">2008</font></font></div>
                              </td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td align="left" valign="bottom" width="52%">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">First
      quarter</font></div>
                              </td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.15</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.81</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.69</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.94</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td align="left" valign="bottom" width="52%">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Second
      quarter</font></div>
                              </td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.91</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.40</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.60</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.75</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td align="left" valign="bottom" width="52%">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Third
      quarter</font></div>
                              </td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.57</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1)</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.41</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1)</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.97</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.76</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td align="left" valign="bottom" width="52%">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fourth
      quarter</font></div>
                              </td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">N/A</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">N/A</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.00</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.29</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 2px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline">2009</font></font></div>
                              </td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td align="left" valign="bottom" width="52%">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">First
      quarter</font></div>
                              </td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">N/A</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">N/A</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.68</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.24</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 2px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline">Most recent six months</font></font></div>
                              </td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td align="left" valign="bottom" width="52%">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      2008</font></div>
                              </td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">N/A</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">N/A</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.75</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.29</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td align="left" valign="bottom" width="52%">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">January
      2009</font></div>
                              </td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">N/A</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">N/A</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.68</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.35</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td align="left" valign="bottom" width="52%">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">February
      2009</font></div>
                              </td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">N/A</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">N/A</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.63</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.28</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td align="left" valign="bottom" width="52%">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">March
      2009</font></div>
                              </td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">N/A</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">N/A</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.39</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.24</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td align="left" valign="bottom" width="52%">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">April
      2009</font></div>
                              </td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">N/A</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">N/A</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.64</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.30</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td align="left" valign="bottom" width="52%">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">May
      2009</font></div>
                              </td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">N/A</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">N/A</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.49</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.38</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                        </table>
                      </div>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(1) Our
shares were quoted on the NASDAQ Europe stock market since April 19, 1999 and
since October 23, 2003, on the Euronext Brussels stock market. We applied for
delisting of our shares from the Euronext Brussels stock market, and our
application was approved on May 6, 2008, effective August 4, 2008.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic"><font style="FONT-STYLE: normal">(2)</font> </font>Our ordinary shares were quoted on
the OTC bulletin board from November 5, 2004 and since August 23, 2007, our
ordinary shares were approved for trading on NASDAQ under the symbol &#8220;VUNC&#8221; and
the trade on the OTC Bulletin Board ceased.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;(3)
Share prices are adjusted to give effect to our 1-for-5.88235 reverse share
split effective for trading purposes on May 14, 2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;On
June 17, 2009, the last reported sale price of our ordinary shares on NASDAQ was
$0.28 per share.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">79</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 27pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">B.</font></font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Plan of
      Distribution</font></font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
applicable.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 27pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">C.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Markets</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
ordinary shares were listed for trade on the Euronext Brussels stock market,
from October&#160;23, 2003 under the symbol &#8220;SUP,&#8221; which became &#8220;VUNC&#8221; after our
corporate name change on May 14, 2007. We applied for delisting of our shares
from the Euronext Brussels stock market, and our application was approved on May
6, 2008, effective August 4, 2008.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Since
November 5, 2004, our ordinary shares have also traded on the OTC Bulletin Board
under the symbol "SPCBF.OB," which, following our recent name change became
&#8220;VUNCF.OB.&#8221; Since August 23, 2007, our ordinary shares were approved for trading
on NASDAQ under the symbol &#8220;VUNC&#8221; and the trade on the OTC Bulletin Board
ceased.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 27pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">D.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Selling
      Shareholders</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
applicable.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 27pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">G.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Dilution</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
applicable.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 27pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">H.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Expenses
      of the Issue</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
applicable.</font><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
10.&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-STYLE: italic">Additional
Information.</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 18pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">A.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Share
      Capital</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
applicable.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">B.&#160;&#160;&#160;&#160;Memorandum
and Articles of Association</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
memorandum of association and articles of association are attached hereto as
noted in Item 19.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We are a
public company organized in the State of Israel under the Israeli Companies Law.
We are registered with the Registrar of Companies of the State of Israel and we
have been assigned company number 52-00-4407-4.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Set forth
below is a summary of certain provisions of our Memorandum of Association (the
"Memorandum"), the Articles of Association (the "Articles") and the Companies
Law. This description does not purport to be complete and is qualified in its
entirety by reference to the full text of the Memorandum and Articles and by
Israeli law. The Memorandum, which integrates into the text all amendments
thereto since our incorporation, and the Articles, which were adopted in August
2007, are incorporated by reference as exhibits to this Form 20-F.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">OBJECTS
OF THE COMPANY</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
to Section 2 of the Memorandum, the principal object for which we were
established is to engage in the development, manufacture, implementation and
marketing of computerized systems in general and computerized systems for
producing tags, computerized photograph databases for the purpose of
identification and for issuing various certificates in particular; consultation
in the above fields; development, manufacture, implementation and marketing of
any product based on the knowledge and expertise of the parties; and the
purchase, sale, import, export and implementation of any action required to
realize the above objectives.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">80</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">DIRECTORS</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
Articles provide that the number of directors may be determined from time to
time by the Board of Directors, and unless otherwise determined, the number of
directors comprising the Board of Directors will be between four and ten. With
the exception of our external directors, who are elected for three year terms
and may only be elected for two three year terms in accordance with the Israeli
Companies Law, our directors are elected for a one year term ending at the
following annual general meeting of shareholders, However, if no directors are
elected at an annual meeting, then the persons who served as directors
immediately prior to the annual meeting shall be deemed reelected at the same
meeting. The general meeting may resolve that a director be elected for a period
longer than by the next annual general meeting, but not longer than the third
next annual meeting. Directors may resign or in certain circumstances be removed
by our general meeting prior to the expiration of his term.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The board
may appoint additional directors (whether to fill a vacancy or create new
directorship) to serve until the next annual shareholders meeting. In case an
office of a director has been vacated, the remaining directors may continue to
act in every matter so long as the number of its members is not less than the
quorum required at the time for meetings of the board. If the number of members
of the board decreases below said quorum, the board will not be entitled to act
except in case of emergency or for appointing additional directors in order to
fill vacant positions on the board or to call a general meeting of the
shareholders. The Board of Directors elects one of its members to serve as the
Chairman.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Board
of Directors may meet and adjourn its meetings as it deems fit, provided,
however, that the board must meet at least once in every three months period. A
meeting of the board may be called at the request of each director. The quorum
required for a meeting of the board is not less than 30% of the number of
directors and in any event not less than two directors. Issues arising at any
Board of Directors&#8217; meeting are decided by a majority of votes cast at the
meeting. In lieu of a board meeting a resolution may be adopted in writing if
signed by all directors, and a meeting may also be held through telephone
conference or other communications means, provided however that all participants
may hear each other simultaneously.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Subject
to the Companies Law, the board may delegate any of its powers to committees
consisting of at least three directors, provided that each such committee shall
include at least one external director. The Board of Directors may from time to
time revoke such delegation or alter the composition of any such committee. Any
committee so formed must exercise its powers in accordance with any directions
given to it by the board. Under the Companies Law the Board of Directors must
appoint an audit committee, comprised of at least three directors and including
all of the external directors. The function of the audit committee is to review
irregularities in the management of our business and recommend remedial
measures. The committee is also required, under the Companies Law, to approve
certain related party transactions.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FIDUCIARY
DUTIES OF OFFICERS</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Companies Law codifies the fiduciary duties that "office holders," including
directors and executive officers, owe to a company. An office holder's fiduciary
duties consist of a duty of care and a duty of loyalty. The duty of loyalty
includes avoiding any conflict of interest between the office holder's position
in the company and his personal affairs, avoiding any competition with the
company, avoiding exploiting any business opportunity of the company in order to
receive personal advantage for himself or others, and revealing to the company
any information or documents relating to the company's affairs which the office
holder has received due to his position as an office holder.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">APPROVAL
OF CERTAIN TRANSACTIONS</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Under the
Companies Law, all arrangements as to compensation of office holders who are not
directors, or controlling parties, require approval of the Board of Directors.
Arrangements regarding the compensation of directors also require approval by
the audit committee and the shareholders.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Companies Law requires that an office holder of the company promptly disclose
any personal interest that he or she may have and all related material
information known to him or her, in connection with any existing or proposed
transaction by the company. In addition, if the transaction is an extraordinary
transaction as defined under Israeli law, the office holder must also disclose
any personal interest held by the office holder's spouse, siblings, parents,
grandparents, descendants, spouse's descendants and the spouses of any of the
foregoing. In addition, the office holder must also disclose any interest held
by any corporation in which the office holder is a 5% or greater shareholder,
director or general manager or in which he or she has the right to appoint at
least one director or the general manager. An extraordinary transaction is
defined as a transaction other than in the ordinary course of business,
otherwise than on market terms, or that is likely to have a material impact on
the company's profitability, assets or liabilities.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">81</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In the
case of a transaction which is not an extraordinary transaction, after the
office holder complies with the above disclosure requirement, only board
approval is required unless the articles of association of the company provide
otherwise. The transaction must not be adverse to the company's interest.
Furthermore, if the transaction is an extraordinary transaction, then, in
addition to any approval stipulated by the articles of association, it also must
be approved by the company's audit committee and then by the Board of Directors,
and, under certain circumstances, by a meeting of the shareholders of the
company. An office holder who has a personal interest in a matter that is
considered at a meeting of the Board of Directors or the audit committee may not
be present at the deliberations or vote on this matter. If a majority of the
directors has a personal interest in a transaction with us, such directors may
be present at the deliberations and vote in this matter, and shareholder
approval of the transaction is required.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Companies Law applies the same disclosure requirements to a controlling
shareholder of a public company, which includes a shareholder that holds 25% or
more of the voting rights if no other shareholder owns more than 50% of the
voting rights in the company. Extraordinary transactions with a controlling
shareholder or in which a controlling shareholder has a personal interest, and
the terms of compensation of a controlling shareholder who is an office holder,
require the approval of the audit committee, the Board of Directors and the
shareholders of the company by simple majority, provided that either such
majority vote must include at least one-third of the shareholders who have no
personal interest in the transaction and are present at the meeting (without
taking into account the votes of the abstaining shareholders), or that the total
shareholdings of those who have no personal interest in the transaction who vote
against the transaction represent no more than one percent of the voting rights
in the company.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
addition, a private placement of securities that will increase the relative
holdings of a shareholder that holds five percent or more of the company's
outstanding share capital (assuming the exercise or conversion of all securities
held by such person that are exercisable for or convertible into shares) or
voting rights or that will cause any person to become, as a result of the
issuance, a holder of more than five percent of the company's outstanding share
capital or voting rights, requires approval by the Board of Directors and the
shareholders of the company. However, if the receiving party is not a director
in the company, its CEO, or a controlling shareholder, and will not become a
controlling shareholder as a result of the private placement, shareholder
approval is not required if the allotted securities amount to less than twenty
percent of the company's outstanding voting rights before the allotment. Since
our shares are traded and were offered to the public only outside of Israel, and
as long as our shares are not offered to the public or registered for trade in
Israel, we are exempted from these limitations concerning private
placements.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Under the
Companies Law and as long as our Articles are not amended to determine
otherwise, certain resolutions, such as resolutions regarding mergers, and
windings up, require approval of the holders of 75% of the shares represented at
the meeting and voting thereon.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">DUTIES
OF SHAREHOLDERS</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Under the
Companies Law, a shareholder has a duty to act in good faith and in a customary
way towards the company and other shareholders and to refrain from abusing his
or her power in the company including, among other things, when voting in a
general meeting of shareholders on the following matters:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">any
      amendment to the articles of
association;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">an
      increase of the company's authorized share
  capital;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a
      merger; or</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">approval
      of interested party transactions which require shareholder
      approval.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
addition, any controlling shareholder, any shareholder who knows that it
possesses power to determine the outcome of a shareholder vote and any
shareholder who, pursuant to the provisions of a company's articles of
association, has the power to appoint or prevent the appointment of an office
holder in the company, is under a duty to act with fairness towards the company.
The Companies Law does not describe the substance of this duty but provides that
a breach of his or her duty is tantamount to a breach of fiduciary duty of an
officer of the company.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EXEMPTION,
INSURANCE AND INDEMNIFICATION OF DIRECTORS AND OFFICERS EXEMPTION OF OFFICE
HOLDERS</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Under the
Companies Law, an Israeli company may not exempt an office holder from liability
for breach of his duty of loyalty, but may exempt in advance an office holder
from liability to the company, in whole or in part, for a breach of his duty of
care, provided the articles of association of the company allow it to do so. Our
Articles allow us to exempt our office holders from liability towards us for
breach of duty of care to the maximum extent permitted by law.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">82</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">OFFICE
HOLDER INSURANCE</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
Articles provide that, subject to the provisions of the Companies Law, we may
enter into a contract for the insurance of the liability of any of our office
holders for any act done by him or her by virtue of being an office holder, in
respect of any of the following:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a
      breach of duty of care towards us or any other
  person,</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a
      breach of fiduciary obligations towards us, provided that the office
      holder acted in good faith and had reasonable grounds to assume that his
      or her act would not be to our
detriment,</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a
      financial liability imposed on him or her in favor of another person,
      or</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">any
      other event for which insurance of an office holder is or may be
      permitted.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">INDEMNIFICATION
OF OFFICE HOLDERS</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
Articles provide that we may indemnify an office holder for the following cases
of liability and expenses incurred by him or her as a result of an act done by
him or her by virtue of being an office holder:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">financial
      liability imposed upon said office holder in favor of another person by
      virtue of a decision by a court of law, including a decision by way of
      settlement or a decision in arbitration which has been confirmed by a
      court of law;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">reasonable
      expenses of the proceedings, including lawyers&#8217; fees, expended by the
      office holder or imposed on him by the court
  for:</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 63pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(1)</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">proceedings
      issued against him by or on behalf of the Company or by a third
      party;</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 63pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(2)</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">criminal
      proceedings in which the office holder was acquitted;
  or</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 63pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(3)</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">criminal
      proceedings in which he was convicted in an offense, which did not require
      proof of criminal intent; or</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">any
      other liability or expense for which the indemnification of an officer
      holder is not precluded by law.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have
obtained directors and officers liability insurance for the benefit of our
office holders.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">LIMITATIONS
ON EXEMPTION, INSURANCE AND INDEMNIFICATION</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Israeli Companies Law provides that a company may not exempt or indemnify an
office holder, or enter into an insurance contract, which would provide coverage
for any monetary liability incurred as a result of any of the
following:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a
      breach by the office holder of his or her duty of loyalty towards the
      company unless, with respect to insurance coverage, the office holder
      acted in good faith and had a reasonable basis to believe that the act
      would not prejudice the company;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a
      breach by the office holder of his or her duty of care if the breach was
      done intentionally or recklessly;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">any
      act or omission done with the intent to derive an illegal personal
      benefit; or</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">any
      fine levied against the office
holder.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">REQUIRED
APPROVALS</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
addition, under the Companies Law, any exemption of, indemnification of, or
procurement of insurance coverage for, our office holders must be approved by
our audit committee and our Board of Directors and, if the beneficiary is a
director, an additional approval by our shareholders is required.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">83</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">RIGHTS
OF ORDINARY SHARES</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
Ordinary Shares confer upon our shareholders the right to receive notices of,
and to attend, shareholder meetings, the right to one vote per Ordinary Share at
all shareholders' meetings for all purposes, and to share equally, on a per
share basis, in such dividends as may be declared by our Board of Directors; and
upon liquidation or dissolution, the right to participate in the distribution of
any surplus assets of the Company legally available for distribution to
shareholders after payment of all debts and other liabilities of the Company.
All Ordinary Shares rank pari passu in all respects with each other. Our Board
of Directors may, from time to time, make such calls as it may think fit upon a
shareholder in respect of sum unpaid in respect of shares held by such
shareholder which is not payable at a fixed time, and each shareholder shall pay
the amount of every call so made upon him (and of each installment thereof if
the same is payable in installments).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">MEETINGS
OF SHAREHOLDERS</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">An annual
general meeting of our shareholders will be held at least once in every calendar
year, not later than 15 months after the last annual general meeting at such
time and at such place either within or without the State of Israel as may be
determined by our Board of Directors.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our Board
of Directors may, whenever it deems fit, convene a special general meeting.
Special general meetings may also be convened upon requisition in accordance
with the Companies Law. Our Board is obligated to convene a special general
meeting if it receives a written request from any of (a) two Directors or 25% of
the total number of Directors; (b) one or more Shareholders, holding at least 5%
of our issued share capital and at least 1% of the shareholders&#8217; voting power;
or (c) one or more shareholders holding no less than 5% of the our issued voting
shares.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">MERGERS</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A merger
of the Company shall require resolution adopted by a simple vote cast at a
general meeting, not taking into account abstentions.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
            </td>
            <td align="right" style="WIDTH: 18pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">C.</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Material
      Contracts</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Except
for the material contracts described under the sections captioned &#8220;Employment
Agreements, Termination of Employment and Change-In-Control Arrangements&#8221; and
&#8220;Share Option Plans&#8221; under Sections B and E, respectively, under Item 6, we are
not a party to any other material contracts outside of the ordinary course of
business.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
            </td>
            <td align="right" style="WIDTH: 18pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">D.</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Exchange
      Controls</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Pursuant to a general permit issued in
1998 by the Israeli Controller of Foreign Exchange under the Currency Control
Law, 1978 (the "Currency Control Law"), there are virtually no restrictions on
foreign exchange in the State of Israel, except for certain reporting
obligations.&#160;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
            </td>
            <td align="right" style="WIDTH: 18pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">E.</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Taxation</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To the
extent that the following discussion is based on new or existing tax or other
legislation that has not been subject to judicial or administrative
interpretation, there can be no assurance that the views expressed herein will
be accepted by the tax or other authorities in question.&#160;&#160;This
discussion is not intended, nor should it be construed, as legal or professional
tax advice and it is not exhaustive of all possible tax
considerations.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Israeli
Taxation</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
following is a summary of the current material Israeli tax laws applicable to
companies in Israel with special reference to its effect on us. This section
also contains a discussion of certain Israeli government programs from which we
may benefit. This summary does not discuss all the acts of Israeli tax law that
may be relevant to a particular investor in light of his or her personal
investment circumstances or to some types of investors subject to special
treatment under Israeli law. Some parts of this discussion are based on new tax
legislation that has not been subject to judicial or administrative
interpretation. Accordingly, we cannot assure you that the views expressed in
the discussion will be accepted by the tax authorities in question. The
discussion is not intended and should not be construed as legal or professional
tax advice and does not cover all possible tax considerations.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">84</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Potential
investors are urged to consult their own tax advisors as to the Israeli or other
tax consequences of the purchase, ownership and disposition of our ordinary
shares, including, in particular, the effect of any foreign, state or local
taxes.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
following discussion describes the material Israeli tax consequences regarding
ownership and disposition of Vuance&#8217;s ordinary shares applicable to non-Israeli
shareholders, including U.S. shareholders.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">General
Corporate Tax Structure</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Israeli
companies are generally subject, in 2008, to corporate tax at the rate of 27% on
their taxable income. This rate was 31% in the 2006 tax year, 29% for the 2007
tax year&#160;and will be 26% for the 2009 tax year and 25%
thereafter.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Protection
against the effects of inflation or changes in the US dollar exchange
rate</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In the
past, in order to avoid erosion of corporate capital in times of high inflation,
Israeli companies implemented the Income Tax Law (Adjustment for Inflation) 1985
that adjusted taxable income for changes in the Israeli Consumer Price Index.
Since inflation in Israel in recent years has not been significant, the Income
Tax Law (Adjustment for Inflation) 1985 was canceled as from the 2008 tax year
subject to provisions that were set out.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Taxation
of Capital Gains Applicable to Israeli Shareholders and Non-Israeli
Shareholders</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">General</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Israeli
law generally imposes a capital gains tax on the sale of any capital assets by
residents of Israel, as defined for Israeli tax purposes, and on the sale of
assets located in Israel, including shares in Israeli companies, by both
residents and non-residents of Israel, unless a specific exemption is available
or unless a tax treaty between Israel and the shareholder&#8217;s country of residence
provides otherwise. The law distinguishes between real gain and inflationary
surplus. The inflationary surplus is a portion of the total capital gain which
is equivalent to the increase of the relevant asset&#8217;s purchase price which is
attributable to the increase in the Israeli consumer price index or, in certain
circumstances, a foreign currency exchange rate, between the date of purchase
and the date of sale. The real gain is the excess of the total capital gain over
the inflationary surplus.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Israeli
residents</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Individuals:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Commencing
in January 1, 2006, a real capital gain deriving to an individual will be taxed
at a rate of 20%, on condition that the income is not classified as business
income from the vantage point of the individual. This will apply to the entire
real capital gain accrued since the date of purchase, or since January 1, 2003
if the purchase preceded that date.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notwithstanding
the above, the real capital gain will be taxed at a rate of 25% in the following
instances:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
individual deducts interest expenses and linkage
differentials.</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;
The seller is a "significant shareholder" at the date of the sale of the
securities or at any time during the 12-month period preceding the sale. A
"significant shareholder" is defined in general as shareholder who holds, either
directly or indirectly, alone or together with another, at least 10% of any form
of a means of control in a company. The term "together with another" means
together with a relative, or together with someone who is not a relative with
which the individual, either directly or indirectly, has a regular cooperative
agreement regarding the affairs of the company.</font></div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Companies
not subject to the provisions of the Adjustment Law:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Companies
not subject to the provisions of the Adjustment Law in 2005, will be taxed at a
rate of 25% upon the capital gain on the sale of securities in the period 2006 &#8211;
2009. In 2010 and thereafter, capital gains will be taxed at a corporate rate,
which in 2010 is expected to be 25%.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">85</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Companies:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The real
capital gain on the sale of securities by a company will be taxed at the
corporate tax rate applicable during the year of sale, as follows: 2006 &#8211; 31%,
2007 &#8211; 29%, 2008 &#8211; 27%, 2009 &#8211; 26%, 2010 &#8211; 25%.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Companies
that prior to January 1, 2006 were not subject to the Income Tax Law
(Adjustments for Inflation) &#8211; 1985, will be taxed at a rate of 25% upon the
capital gain on the sale of securities in the period 2006-2009. In 2010 and
thereafter, a capital gain will be taxed at the corporate rate, which in 2010 is
expected to be 25%.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Non-Israeli
residents:</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Generally
speaking, Non-residents of Israel will be exempt from capital gain tax in
relation to the sale of ordinary shares traded in a stock exchange as long as
(a) the capital gains are not accrued or derived by the nonresident
shareholder&#8217;s permanent establishment in Israel, (b) the ordinary shares in
relation to which the capital gains are derived were acquired by the nonresident
after the initial listing of the ordinary shares and (c) neither the shareholder
nor the capital gain is subject to certain sections of the Israeli income tax
ordinance.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">However,
non-Israeli corporations will not be entitled to such exemption if an Israeli
resident (i) has a controlling interest of 25% or more in such non-Israeli
corporation, or (ii) is the beneficiary or is entitled to 25% or more of the
revenues or profits of such non-Israeli corporation, whether directly or
indirectly.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
addition, pursuant to the Income Tax Treaty between Israel and the U.S. (the
&#8220;Tax Treaty&#8221;), gains derived from the sale, exchange or disposition of our
ordinary shares by a person who qualifies as a resident of the U.S. within the
meaning of the Tax Treaty and who is entitled to claim the benefits afforded to
US residents under the Tax Treaty, referred to as a Treaty US Resident, would
not be subject to Israeli capital gains tax, unless such US Resident owned,
directly or indirectly, shares representing 10% or more of the voting power of
our company at any time during the 12-month period preceding such sale, exchange
or disposition.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In some
instances where our shareholders may be liable to Israeli tax on the sale of
their ordinary shares, the payment of the consideration may be subject to the
withholding of Israeli tax at the source. However, under the Tax Treaty, such
U.S. resident would be permitted to claim a credit for such taxes against the
U.S. federal income tax imposed with respect to such sale, exchange or
disposition, subject to the limitations in U.S. laws applicable to foreign tax
credits. The Tax Treaty does not relate to U.S. state or local
taxes.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
Federal Income Taxation</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">General</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The following is a summary of the
material U.S. federal income tax consequences of the ownership and disposition
of our ordinary shares and warrants. The following discussion is not exhaustive
of all possible tax considerations. This summary is based upon the Internal
Revenue Code of 1986, as amended (the &#8220;Code&#8221;), regulations promulgated under the
Code by the U.S. Treasury Department (including proposed and temporary
regulations), rulings, current administrative interpretations and official
pronouncements of the Internal Revenue Service (the &#8220;IRS&#8221;), and judicial
decisions, all as currently in effect and all of which are subject to differing
interpretations or to change, possibly with retroactive effect. Such change
could materially and adversely affect the tax consequences described below. No
assurance can be given that the IRS would not assert, or that a court would not
sustain, a position contrary to any of the tax consequences described
below.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>This discussion does not address state,
local, or foreign tax consequences of the ownership and disposition of ordinary
shares and warrants. (See &#8220;Israeli Taxation&#8221; above).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>This summary is for general information
only and does not address all aspects of the U.S. federal income taxation that
may be important to a particular holder in light of its investment or tax
circumstances or to holders subject to special tax rules, such
as:&#160;&#160;banks; financial institutions; insurance companies; dealers in
stocks, securities, or currencies; traders in securities that elect to use a
mark-to-market method of accounting for their securities holdings; tax-exempt
organizations; real estate investment trusts; regulated investment companies;
qualified retirement plans, individual retirement accounts, and other
tax-deferred accounts; expatriates of the U.S.; persons subject to the
alternative minimum tax; persons holding ordinary shares or warrants as part of
a straddle, hedge, conversion transaction, or other integrated transaction;
persons who acquired ordinary shares or warrants pursuant to the exercise of any
employee stock option or otherwise as compensation for services; persons
actually or constructively holding 10% or more of our voting stock; and U.S.
Holders (as defined below) whose functional currency is other than the U.S.
dollar.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">86</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>This discussion is not a comprehensive
description of all of the U.S. federal tax consequences that may be relevant
with respect to the ownership and disposition of our ordinary shares and
warrants. We urge you to consult your own tax advisor regarding your particular
circumstances and the U.S. federal income and estate tax consequences to you of
owning and disposing of our ordinary shares and warrants, as well as any tax
consequences arising under the laws of any state, local, or foreign or other tax
jurisdiction and the possible effects of changes in U.S. federal or other tax
laws.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>This summary only addresses ordinary
shares and warrants that are held as capital assets within the meaning of
Section 1221 of the Code, which generally means as property held for investment,
and were acquired upon original issuance at their initial public offering price.
For purposes of this discussion, the term &#8220;U.S. Holder&#8221; means a beneficial owner
of our ordinary shares and warrants that is any of the following:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 53.85pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a
      citizen or resident of the U.S. or someone treated as a U.S. citizen or
      resident for U.S. federal income tax
purposes;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 53.85pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a
      corporation (or other entity taxable as a corporation for U.S. federal
      income tax purposes) created or organized in or under the laws of the
      U.S., any state thereof, or the District of
  Columbia;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 53.85pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">an
      estate, the income of which is subject to U.S. federal income taxation
      regardless of its source;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 53.85pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a
      trust if a U.S. court can exercise primary supervision over the trust&#8217;s
      administration and one or more U.S. persons are authorized to control all
      substantial decisions of the trust;
or</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 53.85pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a
      trust in existence on August 20, 1996 that has a valid election in effect
      under applicable Treasury Regulations to be treated as a U.S.
      person.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The term &#8220;Non-U.S. Holder&#8221; means a
beneficial owner of our ordinary shares and warrants that is not a U.S. Holder.
As described in &#8220;Taxation of Non-U.S. Holders&#8221; below, the tax consequences to a
Non-U.S. Holder may differ substantially from the tax consequences to a U.S.
Holder.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>If a partnership (including for this
purpose any entity treated as a partnership for U.S. federal income tax
purposes) is a beneficial owner of our ordinary shares and warrants, the U.S.
federal income tax consequences to a partner in the partnership will generally
depend on the status of the partner and the activities of the partnership. A
holder of our ordinary shares and warrants that is a partnership and the
partners in such partnership should consult their own tax advisors regarding the
U.S. federal income tax consequences of the ownership and disposition of our
ordinary shares and warrants.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Taxation
of U.S. Holders</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The discussion in &#8220;Distributions on
Ordinary Shares&#8221; and &#8220;Dispositions of Ordinary Shares or Warrants&#8221; below assumes
that we will not be treated as a passive foreign investment company (&#8220;PFIC&#8221;) for
U.S. federal income tax purposes. For a discussion of the rules that apply if we
are treated as a PFIC, see the discussion in &#8220;Passive Foreign Investment
Company&#8221; below.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Distributions
on Ordinary Shares</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-STYLE: italic">General.</font> Subject to the
discussion in &#8220;Passive Foreign Investment Company&#8221; below, if you actually or
constructively receive a distribution on ordinary shares, you must include the
distribution in gross income as a taxable dividend on the date of your receipt
of the distribution, but only to the extent of our current or accumulated
earnings and profits, as calculated under U.S. federal income tax principles.
Such amount must be included without reduction for any Israeli tax withheld.
Dividends paid by us generally will not be eligible for the dividends received
deduction allowed to corporations with respect to dividends received from
certain domestic corporations. Dividends paid by us may or may not be eligible
for preferential rates applicable to qualified dividend income, as described
below.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>To the extent a distribution exceeds
our current and accumulated earnings and profits, it will be treated first as a
non-taxable return of capital to the extent of your adjusted tax basis in the
ordinary shares, and thereafter as capital gain. Preferential tax rates for
long-term capital gain may be applicable to non-corporate U.S.
Holders.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">87</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>We do not intend to calculate our
earnings and profits under U.S. federal income tax principles. Therefore, you
should expect that a distribution will generally be reported as a dividend even
if that distribution would otherwise be treated as a non-taxable return of
capital or as capital gain under the rules described above.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-STYLE: italic">Qualified Dividend
Income.</font>&#160;&#160;With respect to non-corporate U.S. Holders (i.e.,
individuals, trusts, and estates), for taxable years beginning before January 1,
2011, dividends that are treated as qualified dividend income (&#8220;QDI&#8221;) are
taxable at a maximum tax rate of 15%. Among other requirements, dividends
generally will be treated as QDI if either (i) our ordinary shares are readily
tradable on an established securities market in the U.S., or (ii) we are
eligible for the benefits of a comprehensive income tax treaty with the U.S.
which includes an information exchange program and which is determined to be
satisfactory by the U.S. Treasury. It is expected that our ordinary shares will
be &#8220;readily tradable&#8221; as a result of being listed on The NASDAQ&#160;Capital
Market.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>In addition, for dividends to be
treated as QDI, we must not be a PFIC (as discussed below) for either the
taxable year in which the dividend was paid or the preceding taxable year. We do
not believe that we will be a PFIC for our current taxable year.<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>However, please see the
discussion under &#8220;Passive Foreign Investment Company&#8221; below. Additionally, in
order to qualify for QDI treatment, you generally must have held the ordinary
shares for more than 60 days during the 121-day period beginning 60 days prior
to the ex-dividend date. However, your holding period will be reduced for any
period during which the risk of loss is diminished.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Moreover, a dividend will not be
treated as QDI to the extent you are under an obligation (whether pursuant to a
short sale or otherwise) to make related payments with respect to positions in
substantially similar or related property. Since the QDI rules are complex, you
should consult your own tax advisor regarding the availability of the
preferential tax rates for dividends paid on ordinary shares.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-STYLE: italic">Foreign Currency
Distributions.</font>&#160;&#160;We have the right to pay dividends in Israeli
currency. A dividend paid in Israeli currency must be included in your income as
a U.S. dollar amount based on the exchange rate in effect on the date such
dividend is received, regardless of whether the payment is in fact converted
into U.S. dollars. If the dividend is converted to U.S. dollars on the date of
receipt, you generally will not recognize a foreign currency gain or loss.
However, if you convert the foreign currency into U.S. dollars on a later date,
you must include in income any gain or loss resulting from any exchange rate
fluctuations. The gain or loss will be equal to the difference between (i) the
U.S. dollar value of the amount you included in income when the dividend was
received and (ii) the amount that you receive on the conversion of the foreign
currency into U.S. dollars. Such gain or loss will generally be ordinary income
or loss and U.S. source for U.S. foreign tax credit purposes.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-STYLE: italic">In-Kind
Distributions.</font>&#160;&#160;Distributions to you of new ordinary shares or
rights to subscribe for new ordinary shares that are received as part of a pro
rata distribution to all of our shareholders will not be subject to U.S. federal
income tax. The adjusted tax basis of the new ordinary shares or rights so
received will be determined by allocating your adjusted tax basis in the old
ordinary shares between the old ordinary shares and the new ordinary shares or
rights received, based on their relative fair market values on the date of
distribution. However, in the case of a distribution of rights to subscribe for
ordinary shares, the adjusted tax basis of the new rights will be zero if the
fair market value of the new rights is less than 15% of the fair market value of
the old ordinary shares on the date of distribution and you do not make an
election to determine the adjusted tax basis of the rights by allocation as
described above. Your holding period for the new ordinary shares or rights will
generally include the holding period for the old ordinary shares on which the
distribution was made.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-STYLE: italic">Foreign Tax
Credits.</font>&#160;&#160;Subject to certain conditions and limitations,
including potential limitations under the U.S.-Israel Tax Treaty, Israeli taxes
paid on or withheld from distributions from us and not refundable to you may be
credited against your U.S. federal income tax liability or, alternatively, may
be deducted from your taxable income. This election is made on a year-by-year
basis and applies to all foreign taxes paid by you or withheld from you that
year.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Distributions will constitute foreign
source income for foreign tax credit limitation purposes. The foreign tax credit
limitation is calculated separately with respect to specific classes of income.
For this purpose, distributions characterized as dividends distributed by us
will generally constitute &#8220;passive category income&#8221; or, in the case of certain
U.S. Holders, &#8220;general category income.&#8221;&#160;&#160;Special limitations may
apply if a dividend is treated as QDI (as defined above).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Special rules may apply to individuals
whose foreign source income during the taxable year consists entirely of
&#8220;qualified passive income&#8221; and whose creditable foreign taxes paid or accrued
during the taxable year do not exceed $300 ($600 in the case of a joint
return).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Since the rules governing foreign tax
credits are complex, you should consult your own tax advisor regarding the
availability of foreign tax credits in your particular
circumstances.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">88</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Exercise
or Lapse of Warrants</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Upon the exercise of our warrants, a
U.S. Holder will not recognize gain or loss and will have a tax basis in the
ordinary shares received equal to the U.S. Holder&#8217;s tax basis in the warrant
plus the exercise price of the warrant. The holding period for the shares
purchased pursuant to the exercise of a warrant will begin on the day following
the date of exercise and will not include the period during which the U.S.
Holder held the warrant. If a warrant lapses unexercised, a U.S. Holder will
recognize a capital loss in an amount equal to its tax basis in the warrant.
Such loss will be long-term if the warrant has been held for more than one year.
See &#8220;Disposition of Ordinary Shares or Warrants&#8221; below for a discussion of
capital gains tax rates and limitations on deductions for losses. The loss will
generally be from U.S. sources, but the loss may be from a non-U.S. source under
some circumstances under the U.S.-Israel Tax Treaty. U.S. Holders should consult
their own independent tax advisors regarding the sourcing of any losses due to
the lapse of our warrants before exercise.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Dispositions
of Ordinary Shares or Warrants</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Subject to the discussion in &#8220;Passive
Foreign Investment Company&#8221; below, you generally will recognize taxable gain or
loss realized on the sale or other taxable disposition of ordinary shares or
warrants equal to the difference between the U.S. dollar value of (i) the amount
realized on the disposition (i.e., the amount of cash plus the fair market value
of any property received), and (ii) your adjusted tax basis in the ordinary
shares or warrants. Such gain or loss will be capital gain or loss.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>If you have held the ordinary shares or
warrants for more than one year at the time of disposition, such capital gain or
loss will be long-term capital gain or loss. Preferential tax rates for
long-term capital gain (currently, with a maximum rate of 15% for taxable years
beginning before January 1, 2011) will apply to non-corporate U.S. Holders. If
you have held the ordinary shares or warrants for one year or less, such capital
gain or loss will be short-term capital gain or loss taxable as ordinary income
at your marginal income tax rate. The deductibility of capital losses is subject
to limitations.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Generally, any gain or loss recognized
will not give rise to foreign source income for U.S. foreign tax credit
purposes, unless a different result is achieved under the U.S.-Israel Tax
Treaty. You should consult your own tax advisor regarding the effect of such
treaty on the source of income.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>You should consult your own tax advisor
regarding the U.S. federal income tax consequences if you receive currency other
than U.S. dollars upon the disposition of ordinary shares or
warrants.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Passive
Foreign Investment Company</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>We generally will be a PFIC under
Section 1297 of the Code if, for a taxable year, either (a) 75% or more of our
gross income for such taxable year is passive income (the &#8220;income test&#8221;) or (b)
50% or more of the average quarterly percentage, generally determined by fair
market value, of our assets either produce passive income or are held for the
production of passive income (the &#8220;asset test&#8221;). &#8220;Passive income&#8221; includes, for
example, dividends, interest, certain rents and royalties, certain gains from
the sale of stock and securities, and certain gains from commodities
transactions.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Certain &#8220;look through&#8221; rules apply for
purposes of the income and asset tests described above. If we own, directly or
indirectly, 25% or more of the total value of the outstanding shares of another
foreign corporation, we will be treated as if we (a) held directly a
proportionate share of the other corporation&#8217;s assets, and (b) received directly
a proportionate share of the other corporation&#8217;s income. In addition, passive
income does not include any interest, dividends, rents, or royalties that are
received or accrued by us from a &#8220;related person&#8221; (as defined in Section
954(d)(3) of the Code), to the extent such items are properly allocable to
income of such related person that is not passive income.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Under the income and asset tests,
whether or not we are a PFIC will be determined annually based upon the
composition of our income and the composition and valuation of our assets, all
of which are subject to change. In determining that we are not a PFIC, we are
relying on our projected revenues and projected capital expenditures. If our
actual revenues and capital expenditures do not match our projections, we may
become a PFIC. For example, if we do not spend enough of the cash (a passive
asset) we raise from any financing transactions we may undertake, the relative
percentage of our passive assets will increase. In addition, our determination
is based on a current valuation of our assets, including goodwill. In
calculating goodwill, we have valued our total assets based on our market
capitalization, determined using the market price of our ordinary shares. Such
market price may fluctuate. If our market capitalization is less than
anticipated or subsequently declines, this will decrease the value of our
goodwill and we may become a PFIC. Furthermore, we have made a number of
assumptions regarding the amount of value allocable to goodwill. We believe our
valuation approach is reasonable. However, it is possible that the IRS will
challenge the valuation of our goodwill, which may result in our being a
PFIC.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">89</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>We do not believe that we are currently
a PFIC. However, because the PFIC determination is highly fact intensive and
made at the end of each taxable year, there can be no assurance that we will not
be a PFIC for the current or any future taxable year or that the IRS will not
challenge our determination concerning our PFIC status. If we determine that we
are a PFIC, we will take reasonable steps to notify you.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-STYLE: italic">Default PFIC Rules under Section
1291 of the Code.</font> If we are a PFIC, the U.S. federal income tax
consequences to a U.S. Holder of the ownership and disposition of ordinary
shares and warrants will depend on whether such U.S. Holder makes an election to
treat us as a qualified electing fund (&#8220;QEF&#8221;) under Section 1295 of the Code (a
&#8220;QEF Election&#8221;) or a mark-to-market election under Section 1296 of the Code (a
&#8220;Mark-to-Market Election&#8221;). A U.S. Holder owning ordinary shares and warrants
while we were or are a PFIC that has not made either a QEF Election or a
Mark-to-Market Election will be referred to in this summary as a &#8220;Non-Electing
U.S. Holder.&#8221;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>If you are a Non-Electing U.S. Holder,
you will be subject to the default tax rules of Section 1291 of the Code with
respect to:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 53.85pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">any
      &#8220;excess distribution&#8221; paid on ordinary shares and warrants, which means
      any distribution received by you which, together with all other
      distributions received in the current taxable year, exceeds 125% of the
      average distributions received by you during the three preceding taxable
      years (or during your holding period for the ordinary shares and warrants,
      if shorter); and</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">any
      gain recognized on the sale or other taxable disposition (including a
      pledge) of ordinary shares and
warrants.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Under
these default tax rules:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 53.85pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">any
      excess distribution or gain will be allocated ratably over your holding
      period for the ordinary shares and
warrants;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 53.85pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      amount allocated to the current taxable year and any period prior to the
      first day of the first taxable year in which we were a PFIC will be
      treated as ordinary income in the current
year;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 53.85pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      amount allocated to each of the other years will be treated as ordinary
      income and taxed at the highest applicable tax rate in effect for that
      year; and</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 53.85pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      resulting tax liability from any such prior years will be subject to the
      interest charge applicable to underpayments of
  tax.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
addition, notwithstanding any election you may make, dividends that you receive
from us will not be eligible for the preferential tax rates applicable to QDI
(as discussed above in &#8220;Distributions on Ordinary Shares&#8221;) if we are a PFIC
either in the taxable year of the distribution or the preceding taxable year,
but will instead be taxable at rates applicable to ordinary income.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Special rules for Non-Electing U.S.
Holders will apply to determine U.S. foreign tax credits with respect to
withholding taxes imposed on distributions on ordinary shares.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>If we are a PFIC for any taxable year
during which you hold ordinary shares or warrants, we will continue to be
treated as a PFIC with respect to you for all succeeding years during which you
hold ordinary shares or warrants, regardless of whether we actually continue to
be a PFIC. You may terminate this deemed PFIC status by electing to recognize
gain (which will be taxed under the default tax rules of Section 1291 of the
Code discussed above) as if your ordinary shares or warrants had been sold on
the last day of the last taxable year for which we were a PFIC.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>If we are a PFIC in any year with
respect to you, you will be required to file an annual return on IRS Form 8621
regarding distributions received on ordinary shares and any gain realized on the
disposition of ordinary shares or warrants.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-STYLE: italic">QEF Election.</font>&#160;&#160;If
you make a QEF Election, you generally will not be subject to the default rules
of Section 1291 of the Code discussed above. Instead, you will be subject to
current U.S. federal income tax on your pro rata share of our ordinary earnings
and net capital gain, regardless of whether such amounts are actually
distributed to you by us. However, you can make a QEF Election only if we agree
to furnish you annually with certain tax information, and we currently do not
intend to prepare or provide such information.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">90</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-STYLE: italic">Mark-to-Market
Election.</font>&#160;&#160;U.S. Holders may make a Mark-to-Market Election, but
only if the ordinary shares are marketable stock. The ordinary shares will be
&#8220;marketable stock&#8221; as long as they remain listed on NASDAQ, and are regularly
traded. Stock is &#8220;regularly traded&#8221; for any calendar year during which it is
traded (other than in de minimis quantities) on at least fifteen days during
each calendar quarter. There can be no assurances, however, that our ordinary
shares will be treated, or continue to be treated, as regularly
traded.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>If the ordinary shares are marketable
stock and you make a Mark-to-Market Election, you generally will not be subject
to the default rules of Section 1291 of the Code discussed above. Rather, you
generally will be required to recognize ordinary income for any increase in the
fair market value of the ordinary shares and warrants for each taxable year that
we are a PFIC. You will also be allowed to deduct as an ordinary loss any
decrease in the fair market value to the extent of net marked-to-market gain
previously included in prior years. Your adjusted tax basis in the ordinary
shares and warrants will be adjusted to reflect the amount included or
deducted.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The Mark-to-Market Election will be
effective for the taxable year for which the election is made and all subsequent
taxable years, unless the ordinary shares and warrants cease to be marketable
stock or the IRS consents to the revocation of the election. You should consult
your own tax advisor regarding the availability of, and procedure for making, a
Mark-to-Market Election.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Since the PFIC rules are complex, you
should consult your own tax advisor regarding them and how they may affect the
U.S. federal income tax consequences of the ownership and disposition of
ordinary shares and warrants.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Information
Reporting and Backup Withholding</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Generally, information reporting
requirements will apply to distributions on ordinary shares or proceeds on the
disposition of ordinary shares and warrants paid within the U.S. (and, in
certain cases, outside the U.S.) to U.S. Holders other than certain exempt
recipients, such as corporations. Furthermore, backup withholding (currently at
28%) may apply to such amounts if the U.S. Holder fails to (i) provide a correct
taxpayer identification number, (ii) report interest and dividends required to
be shown on its U.S. federal income tax return, or (iii) make other appropriate
certifications in the required manner. U.S. Holders who are required to
establish their exempt status generally must provide such certification on IRS
Form W-9.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Backup withholding is not an additional
tax.&#160;&#160;Amounts withheld as backup withholding from a payment to you may
be credited against your U.S. federal income tax liability and you may obtain a
refund of any excess amounts withheld by filing the appropriate claim for refund
with the IRS and furnishing any required information in a timely
manner.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Taxation
of Non-U.S. Holders</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Distributions
on Ordinary Shares</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Subject to the discussion in
&#8220;Information Reporting and Backup Withholding&#8221; below, as a Non-U.S. Holder, you
generally will not be subject to U.S. federal income tax, including withholding
tax, on distributions received on ordinary shares, unless the distributions are
effectively connected with a trade or business that you conduct in the U.S. and
(if an applicable income tax treaty so requires) attributable to a permanent
establishment that you maintain in the U.S.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>If distributions are effectively
connected with a U.S. trade or business and (if applicable) attributable to a
U.S. permanent establishment, you generally will be subject to tax on such
distributions in the same manner as a U.S. Holder, as described in &#8220;Taxation of
U.S. Holders &#8211; Distributions on Ordinary Shares&#8221; above. In addition, any such
distributions received by a corporate Non-U.S. Holder may also, under certain
circumstances, be subject to an additional &#8220;branch profits tax&#8221; at a 30% rate or
such lower rate as may be specified by an applicable income tax
treaty.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Dispositions
of Ordinary Shares and Warrants</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Subject to the discussion in
&#8220;Information Reporting and Backup Withholding&#8221; below, as a Non-U.S. Holder, you
generally will not be subject to U.S. federal income tax, including withholding
tax, on any gain recognized on a sale or other taxable disposition of ordinary
shares and warrants, unless (i) the gain is effectively connected with a trade
or business that you conduct in the U.S. and (if an applicable income tax treaty
so requires) attributable to a permanent establishment that you maintain in the
U.S., or (ii) you are an individual and are present in the U.S. for at least 183
days in the taxable year of the disposition, and certain other conditions are
present.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">91</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>If you meet the test in clause (i)
above, you generally will be subject to tax on any gain that is effectively
connected with your conduct of a trade or business in the U.S. in the same
manner as a U.S. Holder, as described in &#8220;Taxation of U.S. Holders &#8211;
Dispositions of Ordinary Shares and Warrants&#8221; above. Effectively connected gain
realized by a corporate Non-U.S. Holder may also, under certain circumstances,
be subject to an additional &#8220;branch profits tax&#8221; at a 30% rate or such lower
rate as may be specified by an applicable income tax treaty.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>If you meet the test in clause (ii)
above, you generally will be subject to tax at a 30% rate on the amount by which
your U.S. source capital gain exceeds your U.S. source capital
loss.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Information
Reporting and Backup Withholding</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Payments to Non-U.S. Holders of
distributions on, or proceeds from the disposition of, ordinary shares and
warrants are generally exempt from information reporting and backup withholding.
However, a Non-U.S. Holder may be required to establish that exemption by
providing certification of non-U.S. status on an appropriate IRS Form
W-8.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Backup withholding is not an additional
tax.&#160;&#160;Amounts withheld as backup withholding from a payment to you may
be credited against your U.S. federal income tax liability and you may obtain a
refund of any excess amounts withheld by filing the appropriate claim for refund
with the IRS and furnishing any required information in a timely
manner.</font><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
            </td>
            <td align="right" style="WIDTH: 18pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">F.</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Dividends
      and Paying Agent</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
applicable.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
            </td>
            <td align="right" style="WIDTH: 18pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">G.</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Statement
      by Experts</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
applicable.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
            </td>
            <td align="right" style="WIDTH: 18pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">H.</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Documents
      on Display</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We are
subject to the informational requirements of the Exchange Act, applicable to
foreign private issuers. We, as a &#8220;foreign private issuer,&#8221; are exempt from the
rules under the Exchange Act prescribing certain disclosure and procedural
requirements for proxy solicitations, and our officers, directors and principal
shareholders are exempt from the reporting and &#8220;short-swing&#8221; profit recovery
provisions contained in Section 16 of the Exchange Act, with respect to their
purchases and sales of shares. In addition, we are not required to file annual,
quarterly and current reports and financial statements with the SEC as
frequently or as promptly as U.S. companies whose securities are registered
under the Exchange Act. However, we will file with the SEC, within 180 days
after the end of each fiscal year, an annual report on Form 20-F containing
financial statements audited by an independent accounting firm. We will also
furnish quarterly reports on Form 6-K containing unaudited interim financial
information for the first three quarters of each fiscal year, within 60 days
after the end of such quarter.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;You
may read and copy any document we file or furnish with the SEC at reference
facilities at 450 Fifth Street, NW, Washington, DC 20549. You may also obtain
copies of the documents at prescribed rates by writing to the Public Reference
Section of the SEC at 450 Fifth Street, NW, Washington, DC 20549. Please call
the SEC at 1-800-SEC-0330 for further information on the operation of the public
reference facilities. You can review our SEC filings and the registration
statement by accessing the SEC&#8217;s internet site at
http://www.sec.gov.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
            </td>
            <td align="right" style="WIDTH: 18pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">I.</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Subsidiary
      Information</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
applicable.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
11.&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-STYLE: italic">Quantitative and Qualitative
Disclosures About Market Risk.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Quantitative
and Qualitative Information about Market Risk</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
primary objective of our investment activities is to preserve principal while at
the same time maximizing the income we receive from investments without
significantly increasing risk. Some of the securities in which we may invest may
be subject to market risk. This means that a change in prevailing interest rates
and foreign currency rates against the NIS may cause the value of the investment
to fluctuate. For example, if we purchase a security that was issued with a
fixed interest rate and the prevailing interest rate later rises, the value of
our investment will probably decline. To minimize this risk, we intend to
maintain our portfolio of cash equivalents and short-term investments in a
variety of securities, including U.S. dollars, NIS bank deposits, money market
funds and government and non-government debt securities. In general, money
market funds are not subject to market risk because the interest paid on such
funds fluctuates with the prevailing interest rate.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">92</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
financial market risk includes risks related to international operations and
related foreign currencies. We anticipate that sales outside of North America
will continue to account for a significant portion of our consolidated revenue
in 2009. To date, most of our sales have been valued in dollars. In future
periods, we expect our sales to continue to be principally valued in dollars,
narrowing foreign currency exchange risk.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We value
part of our expenses in some of our international operations, such as Israel and
Hong Kong, in each country's local currency, and therefore are subject to
foreign currency exchange risk. However, through December 31, 2008, we have not
experienced any significant negative impact on our operations as a result of
fluctuations in foreign currency exchange rates; we have incurred an income of
$62,000 in the year ended December 31, 2008 due to fluctuations in foreign
exchange rates. We do not use financial instruments to hedge operating expenses
in Israel or Hong Kong that are valued in local currency. We intend to continue
to assess the need to utilize financial instruments to hedge currency exposures
on an ongoing basis.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We do not
use derivative financial instruments for speculative trading purposes, nor do we
hedge our foreign currency exposure to offset the effects of changes in foreign
exchange rates.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
exposure to market risks for changes in interest rates relates primarily to our
credit facility. At December 31, 2008, our financial market risk related to this
debt was immaterial. Our general policy is to limit the risk of principal loss
and ensure the safety of invested funds by limiting market and credit
risk.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Foreign
currency risk</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Most of
our sales are denominated in U.S. dollars, and we incur most of our expenses in
U.S. dollars, Euros and Israeli Shekels. According to the salient economic
factors indicated in SFAS No. 52, &#8220;Foreign Currency Translation,&#8221; our cash flow,
sale price, sales market, expense, financing and inter-company transactions and
arrangement indicators are predominantly denominated in U.S. dollars. In
addition, the U.S. dollar is the primary currency of the economic environment in
which we operate, and thus the U.S. dollar is our functional and reporting
currency.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In our
balance sheet, we remeasure into U.S. dollars all monetary accounts (principally
cash and cash equivalents and liabilities) that are maintained in other
currencies. For this remeasurement we use the foreign exchange rate at the
balance sheet date. Any gain or loss that results from this remeasurement is
reflected in the statement of income as financial income or financial expense,
as appropriate.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
measure and record non-monetary accounts in our balance sheet (principally fixed
assets, prepaid expenses and share capital) in U.S. dollars. For this
measurement we use the U.S. dollar value in effect at the date that the asset or
liability was initially recorded in our balance sheet (the date of the
transaction). <font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">ITEM
12</font>.&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Description of
Securities Other than Equity Securities.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Not applicable.</font><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">PART
II</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">ITEM
13</font>.&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Defaults,
Dividend Arrearages and Delinquencies.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A.</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">None.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">B.</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">None.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">ITEM
14.&#160;&#160;&#160;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Material
Modifications to the Rights of Security Holders and Use of
Proceeds</font>.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A.</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">None.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">B.</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">None.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">C.</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
      applicable.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">93</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">D.</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">No
      changes.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">E.</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">None.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
15.&#160;&#160;&#160;Controls and Procedures.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Disclosure
controls and procedures</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
management, including our Chief Executive Officer and Chief Financial Officer,
has evaluated the effectiveness of our disclosure controls and procedures (as
such term is defined in Rules&#160;13a-15(e) and 15d-15(e) under the Exchange
Act) as of December 31, 2008. Our disclosure controls and procedures include
components of our internal control over financial reporting. Based on that
evaluation, our Chief Executive Officer and Chief Financial Officer have
concluded that our disclosure controls and procedures, as of December 31, 2008,
were effective, except as described below, to provide reasonable assurance that
(i) information required to be disclosed in filings and submissions under the
Exchange Act is recorded, processed, summarized and reported within the time
periods specified in the Securities and Exchange Commission&#8217;s rules and forms,
and (ii) information required to be disclosed in reports that we file or submit
under the Exchange Act is accumulated and communicated to our management,
including our Chief Executive Officer and Chief Financial Officer, as
appropriate to allow timely decisions regarding required
disclosure.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Based&#160;further
upon that evaluation, our Chief Executive Officer and Chief Financial Officer
have concluded that our disclosure controls and procedures were not effective as
of December&#160;31, 2008, due solely to the material weakness in our internal
control over financial reporting as described below in "Management's Report on
Internal Control over Financial Reporting." In light of this material weakness,
the Company performed additional analysis as deemed necessary to ensure that the
consolidated financial statements were prepared in accordance with U.S.
generally accepted accounting principles. Accordingly, management believes that
the consolidated financial statements included in this report present fairly, in
all material respects, our financial position, results of operations and cash
flows for the period presented.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Management report on internal control
over financial reporting</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
management, under the supervision of our Chief Executive Officer and Chief
Financial Officer, is responsible for establishing and maintaining adequate
internal control over our financial reporting (as defined in Rules 13a-15(f) and
15d-15(f) of the Securities Exchange Act) to provide reasonable assurance
regarding the reliability of our financial reporting and the preparation of
financial statements for external purposes in accordance with U.S. GAAP., and
includes policies and procedures that:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">pertain
      to the maintenance of records that in reasonable detail accurately and
      fairly reflect our transactions and asset
  dispositions;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">provide
      reasonable assurance that transactions are recorded as necessary to permit
      the preparation of our financial statements in accordance with generally
      accepted accounting principles;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">provide
      reasonable assurance that receipts and expenditures are made only in
      accordance with authorizations of our management and Board of Directors
      (as appropriate); and</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">provide
      reasonable assurance regarding the prevention or timely detection of
      unauthorized acquisition, use or disposition of assets that could have a
      material effect on our financial
statements.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
management assessed the effectiveness of internal control over financial
reporting as of December 31, 2008, the end of our fiscal year. In making this
assessment, management used the criteria set forth by the Committee of
Sponsoring Organizations of the Treadway Commission (COSO) in the report
entitled &#8220;Internal Control &#8211; Integrated Framework.&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Based on
our assessment, our management has concluded that we did not maintain effective
internal control over financial reporting as a result of the material weakness
that is discussed below.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We had
one significant deficiency that is inherent and continuing, and therefore
constitutes a material weakness in the financial statement closing process. The
control deficiency relates to the improper segregation of duties in our finance
department.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">94</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Management&#8217;s
report was not subject to attestation by our registered public accounting firm
pursuant to temporary rules of the Securities and Exchange Commission that
permit us to provide only management&#8217;s report in this annual report.
Accordingly, this Annual Report does not include an attestation report of our
registered public accounting firm regarding internal control over financial
reporting.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Inherent
limitations on effectiveness of controls.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Internal
control over financial reporting has inherent limitations. Internal control over
financial reporting is a process that involves human diligence and compliance
and is subject to lapses in judgment and breakdowns resulting from human
failures. Internal control over financial reporting also can be circumvented by
collusion or improper management override. Because of such limitations, there is
a risk that material misstatements will not be prevented or detected on a timely
basis by internal control over financial reporting. However, these inherent
limitations are known features of the financial reporting process. Therefore, it
is possible to design into the process safeguards to reduce, though not
eliminate, this risk.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Changes in internal controls over
financial reporting</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
the year ended December 31, 2008, due to headcount cuts, we have made
adjustments to internal control over financial reporting. Such adjustments are
not deemed by our management to materially affect, or to reasonably be likely to
materially affect, our internal controls over financial reporting. Therefore, we
do not believe our material weakness that discussed above will be remediated in
2009.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 63pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
      16.</font></font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Reserved</font></font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 63pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
      16A.</font></font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Audit Committee Financial
      Expert</font></font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Our Board of Directors has determined
that Ms. Michal Brikman, who chairs our audit committee, is an &#8220;audit committee
financial expert.&#8221; Mr. Jaime Shulman is an independent director under NASDAQ
Market Place Rule 4200(a)(15).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 63pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
      16B.</font></font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Code of
      Ethics</font></font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Our Board of Directors adopted a code
of ethics that applies to our chief executive officer, chief financial officer,
director of finance, controller, and other persons performing similar functions
a copy of which is previously filed and incorporated by reference to this Annual
Report. A copy of our code of ethics will be provided, without charge, upon
written request of any person delivered as follows: Sagid House &#8220;Ha&#8217;Sharon
Industrial Park&#8221; P.O.B 5039, Qadima 60920 Israel.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 63pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
      16C.</font></font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Principal Accountant Fees and
      Services</font></font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
following table presents the fees to our external auditors for professional
services rendered in the years ended December 31, 2008 and 2007:</font></div>
    <div>
      <div align="left">
        <div align="left">
          <div style="MARGIN-LEFT: 63pt" align="left">
            <table cellpadding="0" cellspacing="0" width="60%">
                <tr>
                  <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font></div>
                  </td>
                  <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="76%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Audit
      Fees</font></div>
                  </td>
                  <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">91,000</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">108,000</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="76%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Audit-Related
      Fees</font></div>
                  </td>
                  <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">23,000</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">29,000</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="76%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Tax
      Fees</font></div>
                  </td>
                  <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7,000</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,000</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="76%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div>
                  </td>
                  <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">121,000</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">142,000</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
            </table>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Pre-Approval
Policies for Non-Audit Services</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 45.8pt"></font>The Audit Committee has adopted
policies and procedures relating to the approval of all audit and non-audit
services that are to be performed by our independent auditors. These policies
generally provide that we will not engage our independent auditors to render
audit or non-audit services unless the service is specifically approved in
advance by the Audit Committee or the engagement is entered into pursuant to the
pre-approval procedure described below.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;From
time to time, the Audit Committee may pre-approve specified types of services
that are expected to be provided to us by our independent auditors during the
next 12 months. Any such pre-approval is detailed as to the particular service
or type of services to be provided and is also generally subject to a maximum
dollar amount.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">95</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
16D.&#160;&#160;<font style="DISPLAY: inline; FONT-STYLE: italic">Exemptions
from the Listing Standards for Audit Committees</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
applicable.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
16E.<font style="DISPLAY: inline; FONT-STYLE: italic">&#160;&#160;Purchases of
Equity Securities by the Issuer and Affiliated Purchasers</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">None.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">PART
III</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
17.&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-STYLE: italic">Financial
Statements.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
applicable.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
18.&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-STYLE: italic">Financial
Statements.</font></font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">96</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Report of
the Independent Registered Public Accounting Firm</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To
the Board of Directors of</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SuperCom
Asia Pacific Limited</font><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have
audited the accompanying balance sheets of SuperCom Asia Pacific Limited (the
&#8220;Company&#8221;) as of December 31, 2006 and 2005, and the related statements of
income, stockholders&#8217; deficit and cash flows for the years ended December 31,
2006 and 2005.&#160;&#160;These financial statements are the responsibility of
the Company&#8217;s management. Our responsibility is to express an opinion on these
financial statements based on our audits.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
conducted our audit in accordance with the standards of the Public Company
Accounting Oversight Board (United States).&#160;&#160;Those standards require
that we plan and perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement.&#160;&#160;The
Company is not required to have, nor were we engaged to perform, an audit of its
internal control over financial reporting.&#160;&#160;Our audits include
consideration of internal control over financial reporting as a basis for
designing audit procedures that are appropriate in the circumstances, but not
for the purpose of expressing an opinion on the effectiveness of the Company&#8217;s
internal control over financial reporting.&#160;&#160;Accordingly, we express no
such opinion.&#160;&#160;Our audit also includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements,
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our
opinion.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In our
opinion, the financial statements referred to above present fairly, in all
material respects, the financial position of the Company as of December 31, 2006
and 2005 and the results of its operations and cash flows for the years ended
December 31, 2006 and 2005 in conformity with accounting principles generally
accepted in the United States of America.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">BDO
McCabe Lo Limited</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Certified
Public Accountants</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Hong
Kong, 22 March 2007</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">97</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="TEXT-ALIGN: center">&#160;</div>
    <div style="TEXT-ALIGN: center"><img src="audit.jpg" alt=""><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">98</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CONSOLIDATED
FINANCIAL STATEMENTS</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">AS OF
DECEMBER 31, 2008</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">IN U.S.
DOLLARS</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">INDEX</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="center">
        <div align="left">
          <table cellpadding="0" cellspacing="0" width="100%">
              <tr>
                <td valign="bottom" width="90%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Page</font></div>
                </td>
              </tr>
              <tr>
                <td valign="bottom" width="90%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="90%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Report
      of Independent Registered Public Accounting Firm</font></div>
                </td>
                <td valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">100</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td valign="bottom" width="90%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="90%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Consolidated
      Balance Sheets</font></div>
                </td>
                <td valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">101-102</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td valign="bottom" width="90%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="90%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Consolidated
      Statements of Operations</font></div>
                </td>
                <td valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">103</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td valign="bottom" width="90%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="90%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Statements
      of Changes in Shareholders' Equity (Deficit)</font></div>
                </td>
                <td valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">104</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td valign="bottom" width="90%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="90%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Consolidated
      Statements of Cash Flows</font></div>
                </td>
                <td valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">105-106</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td valign="bottom" width="90%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="90%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Notes
      to Consolidated Financial Statements</font></div>
                </td>
                <td valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">107-147</font></div>
                </td>
              </tr>
          </table>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">- - - - -
- - - - - - - - - - - - - - - - -</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">99</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><img src="logo.jpg" alt=""></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <table cellpadding="0" cellspacing="0" width="100%">
            <tr>
              <td align="left" valign="top" width="75%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">REPORT
      OF INDEPENDENT</font></div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">REGISTERED
      PUBLIC ACCOUNTING FIRM</font></div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">TO
      THE SHAREHOLDERS OF</font></div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">VUANCE
      LTD.</font></div>
              </td>
              <td align="left" valign="bottom" width="25%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fahn
      Kanne &amp; Co.</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Head
      Office</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Levinstein
      Tower</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">23
      Menachem Begin Road</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Tel-Aviv
      66184, ISRAEL</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">P.O.B.
      36172, 61361</font></div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">T
      +972 3 7106666</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">F
      +972 3 7106660</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">www.gtfk.co.il</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have
audited the accompanying consolidated balance sheets of Vuance Ltd. (the
"Company") and subsidiaries as of December&#160;31, 2008 and 2007, and the
related consolidated statements of operations, changes in shareholders&#8217; equity
(deficit) and cash flows for each of the three years in the period ended
December 31, 2008.&#160;&#160;These consolidated financial statements are the
responsibility of the Board of Directors and management of the
Company.&#160;&#160;Our responsibility is to express an opinion on these
consolidated financial statements based on our audits.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We did
not audit the financial statements of Supercom Asia Pacific Limited (Supercom
Asia Pacific), a subsidiary, which statements reflect total assets of 0.5% and
0.4% as of December&#160;31, 2008 and 2007, respectively, of the related
consolidated totals, and total revenues of 1.6%, 10% and 20%, for each of the
three years in the period ended December&#160;31, 2008, of the related
consolidated totals. Those financial statements were audited by other auditors,
whose reports thereon have been furnished to us. Our opinion, insofar as it
relates to the amounts included for Supercom Asia Pacific, is based solely on
the reports of the other auditors.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
conducted our audits in accordance with the standards of the Public Company
Accounting Oversight Board (United States).&#160;&#160;Those standards require
that we plan and perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement.&#160;&#160;The
Company is not required to have, nor were we engaged to perform, an audit of its
internal control over financial reporting.&#160;&#160;Our audit included
consideration of internal control over financial reporting as a basis for
designing audit procedures that are appropriate in the circumstances, but not
for the purpose of expressing an opinion on the effectiveness of the Company&#8217;s
internal control over financial reporting.&#160;&#160;Accordingly, we express no
such opinion.&#160;&#160;An audit also includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements,
assessing the accounting principles used and significant estimates made by the
Board of Directors and management, as well as evaluating the overall financial
statement presentation.&#160;&#160;We believe that our audits and the report of
the other auditors provide a reasonable basis for our opinion.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In our
opinion, based on our audits and the report of the other auditors, the
consolidated financial statements referred to above present fairly, in all
material respects, the consolidated financial position of the Company and
subsidiaries as of December&#160;31, 2008 and 2007, and the consolidated results
of their operations, and their cash flows for each of the three years in the
period ended December&#160;31, 2008, in conformity with accounting principles
generally accepted in the United States of America.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
financial statements have been prepared assuming the Company will continue as a
going concern. As described in Note 1d, the Company has incurred substantial
losses and negative cash flows from operations since its inception and as of
December 31, 2008, the Company had an accumulated deficit of $42,294 thousands
and total shareholders' deficit of $1,867 thousands. These factors raise
substantial doubt about the Company's ability to continue as a going concern.
Management plans with respect to these matters are described in Note 1d. The
financial statements do not include any adjustments that might result from the
outcome of this uncertainty.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Fahn
Kanne &amp; Co.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Certified
Public Accountants (Isr.)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Tel-Aviv,
ISRAEL</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">June 30,
2009</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Certified
Public Accountants</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Fahn
Kanne &amp; Co. is the Israeli member firm of Grant Thornton International
Ltd</font></div>
    </div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">100</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CONSOLIDATED
BALANCE SHEETS</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <div>
        <hr style="COLOR: black" align="left" noshade size="1" width="100%">
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <div align="center">
          <div align="center">
            <div align="center">
              <div align="center">
                <div align="center">
                  <div align="center">
                    <div align="center">
                      <div align="center">
                        <div align="center">
                          <div align="center">
                            <div align="center">
                              <div align="center">
                                <div align="center">
                                  <table cellpadding="0" cellspacing="0" width="100%">
                                      <tr>
                                        <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td colspan="6" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December&#160;31,</font></div>
                                        </td>
                                        <td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr>
                                        <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td colspan="2" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                                        </td>
                                        <td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td colspan="2" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                                        </td>
                                        <td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="#ccffcc">
                                        <td align="left" valign="bottom" style="PADDING-LEFT: 0pt">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ASSETS</font></div>
                                        </td>
                                        <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="white">
                                        <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="#ccffcc">
                                        <td align="left" valign="bottom" style="PADDING-LEFT: 0pt">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CURRENT
      ASSETS:</font></div>
                                        </td>
                                        <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="white">
                                        <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cash
      and cash equivalents</font></div>
                                        </td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,114</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">812</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="#ccffcc">
                                        <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Restricted
      cash deposits</font></div>
                                        </td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,172</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,150</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="white">
                                        <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Marketable
      securities</font></div>
                                        </td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,054</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="#ccffcc">
                                        <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Trade
      receivables (net of allowance for doubtful accounts of $&#160;3,500 and
      $&#160;3,478 as of December 31, 2007 and 2008,
    respectively)</font></div>
                                        </td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,463</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">840</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="white">
                                        <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other
      accounts receivable and prepaid expenses</font></div>
                                        </td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,400</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,074</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="#ccffcc">
                                        <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Inventories,
      net</font></div>
                                        </td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">566</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,307</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="white">
                                        <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Assets
      attributed to discontinued operations</font></div>
                                        </td>
                                        <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">260</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="#ccffcc">
                                        <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="white">
                                        <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Total</font> current
      assets</font></div>
                                        </td>
                                        <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14,769</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6,443</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="#ccffcc">
                                        <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="white">
                                        <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">SEVERANCE
      PAY FUND</font></div>
                                        </td>
                                        <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">309</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">314</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="#ccffcc">
                                        <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="white">
                                        <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">PROPERTY
      AND EQUIPMENT, NET</font></div>
                                        </td>
                                        <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">218</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">218</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="#ccffcc">
                                        <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="white">
                                        <td align="left" valign="bottom" width="76%">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">OTHER
      ASSETS:</font></div>
                                        </td>
                                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="#ccffcc">
                                        <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Goodwill</font></div>
                                        </td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,644</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">685</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="white">
                                        <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Intangible
      assets and deferred charges, net</font></div>
                                        </td>
                                        <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,012</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,275</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="#ccffcc">
                                        <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="white">
                                        <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Total</font> other
      assets</font></div>
                                        </td>
                                        <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,656</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,960</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="#ccffcc">
                                        <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="white">
                                        <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Total</font>
      assets</font></div>
                                        </td>
                                        <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20,952</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8,935</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                  </table>
                                </div>
                              </div>
                            </div>
                          </div>
                        </div>
                      </div>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
accompanying notes are an integral part of the consolidated financial
statements.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">101</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="right">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CONSOLIDATED
BALANCE SHEETS</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands, except share data</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <div align="center">
          <div align="center">
            <div align="center">
              <div align="center">
                <div align="center">
                  <div align="center">
                    <table cellpadding="0" cellspacing="0" width="100%">
                        <tr>
                          <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="6" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December&#160;31,</font></div>
                          </td>
                          <td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr>
                          <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                          </td>
                          <td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                          </td>
                          <td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" style="PADDING-LEFT: 0pt">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">LIABILITIES
      AND SHAREHOLDERS' EQUITY</font></div>
                          </td>
                          <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CURRENT
      LIABILITIES:</font></div>
                          </td>
                          <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Short-term
      bank credit and current maturities of long-term loan</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">478</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">299</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Trade
      payables</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,498</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,714</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Employees
      and payroll accruals</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">299</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">247</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                            <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accrued
      expenses and other liabilities</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6,641</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,007</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                            <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Convertible
      bonds</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,157</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Total</font> current
      liabilities</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8,916</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10,424</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="76%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">LONG-TERM
      LIABILITIES:</font></div>
                          </td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Convertible
      bonds</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,441</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                            <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accrued
      severance pay</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">362</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">378</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Total</font> long-term
      liabilities</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,803</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">378</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="76%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">COMMITMENTS
      AND CONTINGENT LIABILITIES</font></div>
                          </td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="76%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">SHAREHOLDERS'
      EQUITY (DEFICIT):</font></div>
                          </td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Share
      capital:</font></div>
                            <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Ordinary
      shares of NIS 0.0588235 par value -</font></div>
                          </td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                            <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Authorized
      12,000,000 shares as of December&#160;31, 2007 and 2008;</font></div>
                          </td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                            <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Issued
      and outstanding: 5,124,779 and 5,259,874 shares as of December&#160;31,
      2007 and 2008, respectively</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">80</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">82</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Additional
      paid-in capital</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">39,089</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">40,345</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accumulated
      deficit</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(29,936</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(42,294</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Total</font>
      shareholders' equity (deficit)</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9,233</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1,867</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Total</font>
      liabilities and shareholders' equity (deficit)</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20,952</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8,935</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                    </table>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
accompanying notes are an integral part of the consolidated financial
statements.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">102</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="right">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CONSOLIDATED
STATEMENTS OF OPERATIONS</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <div>
        <hr style="COLOR: black" align="left" noshade size="1" width="100%">
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands, except share data</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <div align="left">
        <div align="center">
          <div align="center">
            <table cellpadding="0" cellspacing="0" width="100%">
                <tr>
                  <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="10" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year&#160;ended</font></div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December&#160;31,</font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr>
                  <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2006</font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr>
                  <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="64%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Revenues</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8,941</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(*)</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13,314</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(*)</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20,653</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cost
      of revenues</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,494</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,600</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8,452</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="64%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Gross
      profit</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,447</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7,714</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12,201</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="64%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating
      expenses:</font></div>
                  </td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt">
                    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Research
      and development</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,362</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,716</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,571</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt">
                    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Selling
      and marketing</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,619</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9,041</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11,924</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt">
                    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">General
      and administrative</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,737</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,192</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,299</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt">
                    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Impairment
      loss</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,235</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Litigation
      settlement expenses</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">108</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">34</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="64%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      operating expenses</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9,826</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13,983</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">21,037</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Capital
      gain from the sale of the e-ID Division</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10,536</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="64%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating
      income (loss)</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6,157</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(6,269</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(8,836</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="64%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Financial
      expenses, net</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(204</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(4,652</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3,113</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other
      expenses, net</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(367</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="64%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income
      (loss) before taxes on income</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,586</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(10,921</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(11,949</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Taxes
      on income</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(146</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)(*)</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(390</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)(*)</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(137</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="64%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      income (loss) from continuing operations</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,440</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(11,311</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(12,086</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Loss
      from discontinued operations</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">272</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 4px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      income (loss)</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,440</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(11,311</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(12,358</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                </tr>
                <tr bgcolor="white">
                  <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="64%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income
      (loss) per share</font></div>
                  </td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="64%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Basic:</font></div>
                  </td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income
      (loss) from continuing operations</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.37</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.57</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.34</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Loss
      from discontinuing operations</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.05</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 4px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      income (loss) per share</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.37</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.57</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.39</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 4px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted
      average number of ordinary shares used in computing basic earnings (loss)
      per share</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,969,212</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,391,860</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,171,406</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="64%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Diluted:</font></div>
                  </td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income
      (loss) from continuing operations</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.31</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.57</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.34</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Loss
      from discontinuing operations</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.05</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 4px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      income (loss) per share</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.31</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.57</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.39</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 4px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted
      average number of ordinary shares used in computing diluted income ( loss)
      per share</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,212,791</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,391,860</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,171,406</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
            </table>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(*)
Reclassified (See Note 2y)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
accompanying notes are an integral part of the consolidated financial
statements.</font><br></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">103</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">STATEMENTS
OF CHANGES IN SHAREHOLDERS' EQUITY (DEFICIT)</font>

        <hr style="COLOR: black" align="left" noshade size="1" width="100%">
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands, except share data</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <div align="center">
          <div align="center">
            <div align="center">
              <table cellpadding="0" cellspacing="0" width="100%">
                  <tr>
                    <td valign="bottom" width="28%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="6" nowrap valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Ordinary&#160;shares</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="7%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="7%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="7%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="7%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="7%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="7%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr>
                    <td valign="bottom" width="28%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="7%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Number&#160;of</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Shares</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="7%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Share</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">capital</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="7%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Additional</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">paid-in</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">capital</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="7%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Deferred</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">stock</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">compensation</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="7%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Accumulated</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Deficit</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="7%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Receipt&#160;on</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">account&#160;of</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">shares</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="7%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Total</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">comprehensive</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">income&#160;(loss)</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="7%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Total</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">shareholders'</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">equity&#160;(deficit)</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr>
                    <td valign="bottom" width="28%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Balance
      as of January 1, 2006</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">3,807,167</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">61</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">31,702</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">(15</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">(24,065</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">564</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">8,247</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Reclassification
      upon adoption of SFAS 123(R)</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">(15</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">15</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Issuance
      of shares in a private placement, net</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">150,807</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">2</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">455</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">(550</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">(93</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">)</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Exercise
      of options</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">43,152</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">1</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">105</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">(14</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">92</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Amounts
      attributed to warrants issued in connection with convertible
      bonds</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">282</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">282</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Beneficial
      conversion feature on convertible bonds</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">632</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">632</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Stock-
      based compensation</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">401</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">401</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="28%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Net
      income</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">5,440</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">5,440</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">5,440</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="28%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Total
      comprehensive income</font></div>
                    </td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">5,440</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Balance
      as of December 31, 2006</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">4,001,126</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">64</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">33,562</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">(18,625</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">15,001</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Issuance
      of shares in connection with acquisition of subsidiary (see note
      1a)</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">1,097,426</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">16</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">4,319</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">4,335</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Exercise
      of options</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">25,968</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">*</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">82</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">82</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Increase
      in the fair value of conversion feature of convertible bonds due to
      modification of conversion terms</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">84</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">84</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Stock-
      based compensation</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">1,072</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">1,072</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Expenses
      related to the issuance of shares in a private placement which occurred in
      previous years</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">(30</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">(30</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">)</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Issuance
      of shares due to reverse split</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">259</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="28%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Net
      loss</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">(11,311</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">(11,311</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">(11,311</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">)</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="28%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Total
      comprehensive loss</font></div>
                    </td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">(11,311</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">)</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Balance
      as of December 31, 2007</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">5,124,779</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">80</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">39,089</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">(29,936</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">9,233</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Issuance
      of shares see Note 14c</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">108,063</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">2</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">247</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">249</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Exercise
      of options</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">27,032</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">*</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">8</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">8</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Beneficial
      conversion feature on convertible bonds terms</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">94</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">94</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Stock-
      based compensation</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">907</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">907</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="28%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Net
      loss</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">(12,358</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">(12,358</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">(12,358</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">)</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="28%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Total
      comprehensive loss</font></div>
                    </td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">(12,358</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">)</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="28%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">Balance
      as of December 31, 2008</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">5,259,874</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">82</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">40,345</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">(42,294</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="6%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">(1,867</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 7pt; FONT-FAMILY: times new roman">)</font></td>
                  </tr>
              </table>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">*Less
than 1</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
accompanying notes are an integral part of the consolidated financial
statements.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">104</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CONSOLIDATED
STATEMENTS OF CASH FLOWS</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <div>
        <hr style="COLOR: black" align="left" noshade size="1" width="100%">
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <div align="left">
        <div align="center">
          <div align="center">
            <div align="center">
              <div align="center">
                <div align="center">
                  <div align="center">
                    <table cellpadding="0" cellspacing="0" width="100%">
                        <tr>
                          <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="10" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year&#160;ended&#160;December&#160;31,</font></div>
                          </td>
                          <td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr>
                          <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2006</font></div>
                          </td>
                          <td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                          </td>
                          <td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                          </td>
                          <td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom">
                            <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Cash flows from
      operating activities</font>:</font></div>
                          </td>
                          <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      Income (loss)</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,440</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(11,311</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(12,358</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;Less:
      Loss for the period from discontinued operations</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(272</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;Net
      income (loss) from continuing operations</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,440</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(11,311</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(12,086</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Adjustments
      to reconcile net income/loss from continuing operations to net cash used
      in operating activities from continuing operations:</font></div>
                          </td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Depreciation
      and amortization</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">355</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">225</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">651</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Impairment
      loss</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,235</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accrued
      severance pay</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">128</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(382</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">16</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Stock-
      based compensation</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">361</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,072</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">907</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Capital
      gain from the sale of the e-ID Division</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(10,536</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -27pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amortization
      of discount on convertible bonds</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">30</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">268</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">810</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -27pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amortization
      of deferred charges</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">90</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">159</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -27pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Write
      down of loan regarding an investment in an affiliated
    company</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">275</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Realized
      loss from sale of marketable securities</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,116</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">862</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Unrealized
      loss from marketable securities, net</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,699</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Loss
      on sale of property and equipment</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">58</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exchange
      differences on principal of long-term loan</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Decrease
      (increase) in trade receivables</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1,442</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">883</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,610</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Decrease
      (increase) in other accounts receivable and prepaid
    expenses</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">254</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1,943</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,373</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Decrease
      (increase) in inventories</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">212</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">32</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(741</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Increase
      in trade payables</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">53</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">95</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">216</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Increase
      (decrease) in employees and payroll accruals</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">211</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(234</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(86</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Increase
      (decrease) in accrued expenses and other liabilities</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,586</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,433</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1,663</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      cash used in operating activities from continuing
    operations</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3,047</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(4,890</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(4,732</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px">
                            <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      cash&#160;&#160;used in operating activities from discontinued
      operations</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(532</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px">
                            <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      cash used in operating activities</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3,047</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(4,890</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(5,264</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px">
                            <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Cash flows from
      investing activities</font>:</font></div>
                          </td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Purchase
      of property and equipment</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(93</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(116</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(73</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Acquisition
      of subsidiaries net of cash acquired. (Appendix A)</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(153</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Decrease
      (increase) in severance pay fund</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(95</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">278</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(5</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Capitalization
      of software and intangible assets</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(509</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Restricted
      cash deposits, net</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">229</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2,313</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,022</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Proceeds
      from sale of marketable securities</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">650</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7,639</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,192</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amounts
      carried to deferred charges</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(163</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(52</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cash
      paid in respect of sale of the e-ID Division (Appendix B)</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(52</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px">
                            <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      cash provided by investing activities</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">476</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,774</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,136</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px">
                            <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Cash flows from
      financing activities</font>:</font></div>
                          </td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Short-term
      bank credit, net</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(307</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(336</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">254</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Proceeds
      from issuance of convertible bonds and warrants, net</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,139</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Issuance
      of share capital, net of issuance costs</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(183</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(30</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Proceeds
      from exercise of options and warrants, net</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">92</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">82</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Long-term
      loan received</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">204</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,850</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px">
                            <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Principal
      repayment of long-term loan</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(224</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2,780</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(438</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px">
                            <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      cash provided by (used in) financing activities</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,721</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(214</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(174</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Increase
      (decrease) in cash and cash equivalents</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">150</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(330</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1,302</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px">
                            <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cash
      and cash equivalents at the beginning of the year</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,294</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,444</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,114</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 4px">
                            <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cash
      and cash equivalents at the end of the year</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,444</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,114</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">812</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                    </table>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
accompanying notes are an integral part of the consolidated financial
statements.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">105</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="right">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CONSOLIDATED
STATEMENTS OF CASH FLOWS (Cont.)</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="right">
          <div>
            <hr style="COLOR: black" align="left" noshade size="1" width="100%">
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <div align="left">
        <div align="center">
          <div align="center">
            <div align="center">
              <div align="center">
                <div align="center">
                  <div align="center">
                    <div align="center">
                      <div align="center">
                        <table cellpadding="0" cellspacing="0" width="100%">
                            <tr>
                              <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="10" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year&#160;ended</font></div>
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December&#160;31,</font></div>
                              </td>
                              <td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr>
                              <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="2" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2006</font></div>
                              </td>
                              <td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="2" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                              </td>
                              <td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="2" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                              </td>
                              <td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td align="left" valign="bottom" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline">Supplemental disclosure of cash flows
      information:</font></font></div>
                              </td>
                              <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="2" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="2" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="2" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td align="left" valign="bottom" style="PADDING-LEFT: 0pt">
                                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Appendix
      A:</font></div>
                              </td>
                              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td align="left" valign="bottom">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Acquisition
      of subsidiaries net of cash acquired:</font></div>
                              </td>
                              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td align="left" valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td align="left" valign="bottom">
                                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Assets
      and liabilities of the subsidiaries, as of date of
    purchase:</font></div>
                              </td>
                              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt">
                                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;Working
      capital (excluding cash and cash equivalents)</font></div>
                              </td>
                              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,157</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt">
                                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;Property
      and&#160;&#160;equipment, net</font></div>
                              </td>
                              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(38</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt">
                                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;Intangible
      assets</font></div>
                              </td>
                              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1,531</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt">
                                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;Goodwill
      recognized</font></div>
                              </td>
                              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3,644</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt">
                                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;Shares
      issued</font></div>
                              </td>
                              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,903</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td valign="bottom" width="64%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td valign="bottom" width="64%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(153</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                              <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt">
                                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Appendix
      B:</font></div>
                              </td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td align="left" valign="bottom" width="64%">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Cash paid in respect
      of sale of the e-ID Division</font></font></div>
                              </td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt">
                                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Assets
      and liabilities of the division, at the date of sale:</font></div>
                              </td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt">
                                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Working
      Capital, net</font></div>
                              </td>
                              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,073</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt">
                                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fixed
      assets, net</font></div>
                              </td>
                              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,800</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt">
                                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Intangible
      assets</font></div>
                              </td>
                              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">47</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt">
                                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fair
      value of marketable securities received as proceeds, net</font></div>
                              </td>
                              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(15,508</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Capital
      gain on the sale of the e-ID Division</font></div>
                              </td>
                              <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10,536</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td valign="bottom" width="64%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(52</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                              <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Cash paid during the
      year for</font>:</font></div>
                              </td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Interest</font></div>
                              </td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">76</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">415</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">171</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Taxes
      on income</font></div>
                              </td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">146</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">353</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">137</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline">Supplemental disclosure of non-cash investing and
      financing activities:</font></font></div>
                              </td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Share
      capital issuance against redemption of note payable to former shareholder
      of a subsidiary</font></div>
                              </td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">432</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="#ccffcc">
                              <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accrued
      issuance costs</font></div>
                              </td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">19</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Issuance
      of shares to service providers and officer</font></div>
                              </td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">40</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">247</font></td>
                              <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            </tr>
                        </table>
                      </div>
                    </div>
                  </div>
                  <div>&#160;</div>
                  <div>
                    <div>
                      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
                          <tr valign="top">
                            <td style="WIDTH: 18pt">
                              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
                            </td>
                            <td style="WIDTH: 18pt">
                              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.</font></div>
                            </td>
                            <td>
                              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
      the year 2008 additional goodwill in an amount of $276 was recorded with
      respect to the acquisition of SHC as a result of clarification of certain
      provisions of the acquired entity.</font></div>
                            </td>
                          </tr>
                      </table>
                    </div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
                          <tr valign="top">
                            <td style="WIDTH: 18pt">
                            </td>
                            <td align="right" style="WIDTH: 18pt">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.&#160;</font></div>
                            </td>
                            <td align="left">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
      2008, a modification of terms of convertible bonds in an amount of $2,500
      was determined to be a debt
extinguishment.</font></div>
                            </td>
                          </tr>
                      </table>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
accompanying notes are an integral part of the consolidated financial
statements.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">106</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      1:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">GENERAL</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Vuance
      Ltd. (formally Supercom Ltd.) (the &#8220;Company") was incorporated in 1988 in
      Israel. The Company&#8217;s ordinary shares have been listed for trade on the
      Euronext Brussels stock market since October&#160;23, 2003. The Company
      applied for delisting of its shares from the Euronext Brussels stock
      market, and its application was approved on May 6, 2008, effective August
      4, 2008. Since November 5, 2004, the Company&#8217;s ordinary shares have also
      traded on the OTC Bulletin Board. Since August 23, 2007, the ordinary
      shares of the Company were approved for trade on the NASDAQ Capital Market
      under the symbol &#8220;VUNC&#8221; and trading of the stock on the OTC Bulletin Board
      ceased.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
December 11, 2008, the Company received a letter from the NASDAQ Capital Market
advising the Company that it did not comply with the continued listing
requirements of Listing Rule 5550(b) (formerly Marketplace Rule 4310(c)(3)),
which requires companies to have a minimum of $2,500 in stockholders&#8217; equity, or
$35,000 in market value of listed securities, or $500 of net income from
continuing operations for the most recently completed fiscal year or two of the
three most recently completed fiscal years (the &#8220;Listing
Requirements&#8221;).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As a
result, the NASDAQ Capital Market Staff began reviewing the Company&#8217;s
eligibility for continued listing on the NASDAQ Capital Market. To facilitate
their review, the NASDAQ Capital Market Staff requested that the Company provide
on or before December 26, 2008, the Company&#8217;s specific plan to achieve and
sustain compliance with the NASDAQ Capital Market listing requirements,
including the time frame for completion of the plan (the
&#8220;Plan&#8221;).&#160;&#160;After the Company submitted the Plan, on March 30, 2009 the
Company received further correspondence from NASDAQ that it did not comply with
the Listing Requirements, and therefore, trading of the Company&#8217;s ordinary
shares would be suspended at the opening of business on April 8, 2009, and a
form 25-NSE would be filed with the SEC removing the Company&#8217;s securities from
listing and registration on The NASDAQ Capital Market, unless the Company
requested an appeal of the delisting decision by NASDAQ.&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company appealed the NASDAQ determination to a NASDAQ Listings Qualifications
Panel (the &#8220;Panel&#8221;), which automatically stayed the delisting of the Company&#8217;s
ordinary shares until the Panel reached a decision.&#160; On June 17, 2009, the
Panel granted the Company&#8217;s request for an extension of time to achieve full
compliance with the Listing Requirements.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Panel&#8217;s decision, and the Company&#8217;s continued listing on the NASDAQ Capital
Market, is subject to the Company&#8217;s compliance with certain conditions,
including demonstration by the Company that it has regained compliance with the
Listing Requirements by September 28, 2009. While the Company is executing on
its plan to regain compliance, there can be no assurance that the Company will
be able to do so.&#160;&#160;Should the Company be unable to meet the exception
requirement, the Panel will issue a final determination to delist the Company&#8217;s
shares and, unless the NASDAQ<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>Listing and Hearings
Review Council issues a stay, will suspend trading of the Company&#8217;s shares on
the NASDAQ Capital Market effective on the second business day from the date of
the final determination and the Company's ordinary shares could be eligible for
quotation and trading on the OTC Bulletin Board in accordance with applicable
rules and regulations.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">107</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      1:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">GENERAL
      (Cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(cont.)</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company develops and markets security solutions for viewing, tracking, locating,
credentialing, and managing essential assets and personnel. The Company's
solutions encompass electronic access control, urban security, and critical
situation management systems as well as long-range Active RFID for public
safety, commercial, and government sectors. The Company&#8217;s comprehensive product
line enables end-to-end solutions that can be employed to overcome security
challenges. Its Critical Situation Management System (CSMS) is a mobile
credentialing and access control system, designed to meet the needs of Homeland
Security and other public initiatives. Regarding the e-ID activity after the
closing of the sale of the e-ID Division to OTI, see below.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company is headquartered in Franklin, WI.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company sells its products through centralized marketing offices in U.S, Israel
and Hong-Kong. The Company has two wholly-owned marketing subsidiaries: Vuance
Inc. (formally Supercom Inc.) in the United States and SuperCom Asia Pacific
Limited in Hong Kong.</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
the fourth quarter of 2005, the Company set up a new subsidiary (80%), Vuance
RFID Inc., (formally: Pure RF Inc.,) (incorporated in Delaware) which began
operations during the first quarter of 2006. During the first quarter of 2006
Vuance RFID Inc., set up Vuance RFID Ltd (formally Pure RF Ltd.) (100%)
(incorporated and operating in Israel), and focuses on new technology and
solutions for active tracking of people and objects. During February 2007, the
Company purchased the remaining 20% from the minority of Vuance RFID Inc. for an
amount of $100.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Commencing
in 2008, Vuance RFID Inc engaged in the distribution of locks. This activity was
terminated in the fourth quarter of 2008 and it is presented as discontinued
operations.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
assets attributed to the discontinued operations consist of inventory of the
activity which includes a write down in an amount of $65.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
results of the discontinued operation for the year ended December 31, 2008, is
presented below:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div align="left">
        <div align="center">
          <div align="center">
            <div style="MARGIN-LEFT: 90pt" align="left">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="center">
                    <table cellpadding="0" cellspacing="0" width="60%" style="TEXT-ALIGN: left">
                        <tr style="TEXT-ALIGN: left;">
                          <td valign="bottom" width="77%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="2%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom" width="19%" style="BORDER-BOTTOM: black 2px solid">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year&#160;ended</font></div>
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">December</font>&#160;31,&#160;2008</font></div>
                          </td>
                          <td align="left" nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td valign="bottom" width="77%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Revenues</font></div>
                          </td>
                          <td align="right" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="17%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5</font></td>
                          <td align="left" nowrap valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td valign="bottom" width="77%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      loss</font></div>
                          </td>
                          <td align="right" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="17%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">272</font></td>
                          <td align="left" nowrap valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                    </table>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
the fourth quarter of 2006, the Company set up a new wholly-owned subsidiary,
S.B.C. Aviation Ltd., (incorporated in Israel) which began operations in 2007,
and focuses on executing perimeter security and border control project at a
European International Airport.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">108</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <div>
        <hr style="COLOR: black" align="left" noshade size="1" width="100%">
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      1:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">GENERAL
      (Cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(cont.)</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On July
3, 2007, through its wholly-owned subsidiary, Vuance Inc., the Company entered
into an agreement (the &#8220;Purchase Agreement&#8221;) to acquire all of the issued and
outstanding share capital of Security Holding Corp. (&#8220;SHC&#8221;) from Homeland
Security Capital Corporation (OTCBB: HOMS.OB) (&#8220;HMSC&#8221;) and other minority
shareholders (collectively, &#8220;Sellers&#8221;) for approximately $4,335 in Vuance
ordinary shares (and direct expenses of approximately $600 as describe below).
The closing date was August 28, 2007. SHC is a Delaware corporation engaged,
directly and through its subsidiaries in the business of manufacturing and
distributing RFID-enabled solutions, access control and security management
systems. As consideration for the acquisition of SHC, the Company issued to the
sellers 1,097,426 ordinary shares of the Company.&#160;&#160;Subject to certain
terms and conditions, in the event that the Company seeks to register any of its
ordinary shares under the Securities Act of 1933 for sale to the public, then at
HMSC&#8217;s request, the Company will use its reasonable best efforts to include the
Company's Shares owned by HMSC in such registration. The Sellers agreed to a
lock-up period during which, subject to certain exceptions, they will not sell
or otherwise dispose of the Company's Shares. The restrictions on making such
transactions will expire for HMSC - in eight equal installments, commencing on
the end of the first calendar quarter following the Closing and each of the
seven calendar quarters thereafter, and for the other Sellers - in twelve equal
installments, commencing on the end of the first calendar quarter following the
Closing and each of the eleven calendar quarters thereafter. HMSC also agreed
that during such restriction period, upon the occurrence of any sale by HMSC of
the Company's Shares due to HSMC&#8217;s bankruptcy, insolvency or otherwise by
operation of law, Vuance Inc and the Company will have a right of first refusal
to purchase all (but not less than all) of the Company's Shares held by HSMC on
certain terms and conditions. HMSC further agreed that at the Closing it will
grant an irrevocable power of attorney to the Chairman of the Board of Directors
of the Company, to exercise all voting rights related to its Vuance Shares until
the sale or transfer of such Vuance Shares by HMSC to an unaffiliated third
party in an arm&#8217;s-length transaction. As part of the Purchase Agreement, certain
Sellers will assume, subject to certain exceptions, certain non-competition and
employee non-solicitation undertakings for a period of two years commencing on
the date of Closing. According to the Purchase Agreement, the Company guaranteed
all of the obligations of Vuance Inc under such agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
the fourth quarter of 2007, the acquired companies (SHC and its subsidiaries)
were merged into Vuance Inc.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
acquisition was accounted for under the purchase method and the Company
allocated the purchase price according to the fair value of the tangible and
intangible assets acquired and liabilities assumed. The purchase price was
calculated in accordance with EITF No 99-12 &#8220;Determination of the Measurement
Date for the Market Price of Acquirer Securities Issued in a Purchase Business
Combination&#8221; (&#8220;EITF No. 99-12&#8221;) after consideration with the lock-up mechanism
of the shares issued to the sellers. The results of operation acquired were
included in the consolidated financial statements of the Company commencing
August 28, 2007. (See also Note 8)</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">109</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      1:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">GENERAL
      (Cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(cont.)</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
consideration for the acquisition was attributed to net assets on the basis of
fair value of assets acquired and liabilities assumed, as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div align="left">
        <div align="center">
          <div style="MARGIN-LEFT: 108pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="center">
            <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">
              <table cellpadding="0" cellspacing="0" width="78%" style="TEXT-ALIGN: left">
                  <tr style="TEXT-ALIGN: left;">
                    <td valign="bottom" width="80%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="18%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">August&#160;28,&#160;2007</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr>
                    <td valign="bottom" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="18%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="80%" style="PADDING-LEFT: 0pt">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Intellectual
      Property</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="17%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">525</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="80%" style="PADDING-LEFT: 0pt">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Brand
      name</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="17%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">500</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="80%" style="PADDING-LEFT: 0pt">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Customer
      Base</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="17%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">506</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="80%" style="PADDING-LEFT: 0pt">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Liabilities</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="17%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(240</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="80%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Goodwill</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="17%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,644</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(*)</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td valign="bottom" width="80%">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></div>
                    </td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="17%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="80%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="17%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,935</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
              </table>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(*)
Regarding impairment of goodwill recognized in the fourth quarter of 2008, see
Note 8 below.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Goodwill
includes but is not limited to the synergistic value, accesses to new growing
markets and potential competitive benefits that could be realized by the Company
from the acquisition.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Below are
certain pro forma combined statements of income data for the years ended
December&#160;31, 2006 and 2007, as if the acquisition of SHC had occurred on
January&#160;1, 2006 and 2007, respectively, after giving effect to: purchase
accounting adjustments and amortization of identifiable intangible assets. This
pro forma financial information is not necessarily indicative of the combined
results that would have been attained had the acquisition taken place at the
beginning of 2006 and 2007, respectively, nor is it necessarily indicative of
future results.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <div align="left">
        <div>
          <div align="center">
            <div align="left">
              <div align="center">
                <div style="MARGIN-LEFT: 90pt" align="left">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">
                    <table cellpadding="0" cellspacing="0" width="72%" style="TEXT-ALIGN: left">
                        <tr style="TEXT-ALIGN: left;">
                          <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="6" nowrap valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year&#160;ended&#160;December&#160;31,</font></div>
                          </td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr>
                          <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2006</font></div>
                          </td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                          </td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr>
                          <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="6" nowrap valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Unaudited</font></div>
                          </td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      sales</font></div>
                          </td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12,500</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15,300</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      income (loss)</font></div>
                          </td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,170</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(13,950</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Basic
      earnings (loss) per share</font></div>
                          </td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.429</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.728</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Diluted
      earnings (loss) per share</font></div>
                          </td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.423</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.728</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                        </tr>
                    </table>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
September 2007, the Company announced that it had entered into a definitive
agreement to acquire, through its US subsidiary, Vuance Inc., the Credentialing
Division of Disaster Management Solutions Inc., for approximately $100 in cash.
In addition the Company undertook an obligation to pay up to $650 in royalties
that will be paid upon sales of the advanced first responder credentialing
system (named &#8220;RAPTOR&#8221;) during the first twelve months following the acquisition
(the closing was in August 2007). During the year 2008 there weren&#8217;t any sales
of RAPTOR.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Regarding
acquisition, after the balance sheet date, of certain of the assets and certain
of the liabilities of Intelli-Site, Inc., see Note 19d.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">110</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <div>
        <hr style="COLOR: black" align="left" noshade size="1" width="100%">
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      1:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">GENERAL
      (Cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(cont.)</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
November 8, 2006, the Company announced that it had entered into an agreement
with On Track Innovations Ltd. ("OTI") (NASDAQ: OTIV), under which OTI agreed to
acquire the assets of the Company&#8217;s e-ID Division (including, inventory, fixed
assets and intangible assets) for consideration consisting of 2,827,200
restricted ordinary shares of OTI. The transaction was completed on December 31,
2006. At the closing, the parties entered into a service and supply agreement
pursuant to which the Company agreed to continue to provide services and receive
revenues under certain existing ID and e-ID contracts for governmental and
commercial projects in Europe, Asia and Africa. OTI agreed to serve as a
subcontractor for these projects. The 2,827,200 ordinary shares issued to the
Company were subject to a lock-up agreement, whereby one-seventh of the shares
(403,885 ordinary shares) were released from the lock-up restrictions every
three months beginning on the closing date, December 31, 2006, for an aggregate
period of eighteen months. On April 24, 2007, OTI filed a registration Form F-3,
for the registration of the above mentioned shares, which became effective on
May 2, 2007. The Company executed an irrevocable proxy appointing OTI's
chairman, on behalf of the Board of Directors, or a person the Board of
Directors will instruct, to vote the 2,827,200 ordinary shares issued to the
Company in connection with the transaction. As a result of the sale of the e-ID
Division, the Company recognized $10,536 as a capital gain on the sale of the
e-ID Division in fiscal year 2006.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
capital gain was calculated based on OTI&#8217;s share price on the closing date, less
a discount due to the lock up restrictions of the shares, the carrying value of
the assets that were transferred to OTI and direct expenses (in an amount of
$1,550) associated with the sale.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
direct expenses included, inter alia, the fair value of 212,040 shares out of
the shares received by the Company from OTI that will be transferred to
consultants, as a finder and legal fee, in connection with the transaction (the
investment of the Company in OTI&#8217;s shares includes the shares held by the
Company, net of the shares that will be transferred to the consultants). As of
December 31, 2008 and 2007, the Company holds 63,768 and 1,308,484 shares of OTI
of which 63,768 and 108,040 are held by the Company but relate to consultants,
respectively. See Note 3.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As a
result of the transaction, the Company terminated the employment of certain
employees that were employed by the Company in the e-ID Division.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
connection with the completion of the sale, during January 2007, a $2,500 loan
was extended to the Company by a financial institution. In order to secure this
loan, the Company deposited OTI shares in favor of the financial institution.
The loan was repaid during the year 2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
            </td>
            <td align="right" style="WIDTH: 36pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b.</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Concentration
      of risk that may have a significant impact on the
  Company:</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company derives most of its revenues from several major customers. See also Note
16c.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company purchases certain services and products used by it to generate revenues
in its projects and sales from several sole suppliers. Although there are only a
limited number of manufacturers of those particular services and products,
management believes that other suppliers could provide similar services and
products on comparable terms without affecting operating results.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">c.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      November 21, 2006 the Company announced that it had raised $3,156.5
      through the issuance of Units consisting of Convertible Bonds and
      Warrants. As of December 31, 2008, the Company is not in compliance with
      certain covenants under the Convertible Bond. See Note
  13.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">111</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      1:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">GENERAL
      (Cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">d.</font></div>
                </div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
                  </div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Company has incurred substantial losses and negative cash flows from
      operations since its inception. The Company had an operating cash flow
      deficit in each of 2006, 2007, and 2008. As of December&#160;31, 2008, the
      Company had an accumulated deficit of approximately $42,294 and the total
      shareholders' deficit amounted $1,867. The Company incurred net losses of
      approximately $11,311 and $12,358 in the years ended December 31, 2007 and
      December 31, 2008, respectively. For the year ended December 31, 2006, the
      Company would have incurred a net loss of $5,096, excluding the $10,536
      capital gain from the sale of the e-ID Division. The Company expects to
      have net operating losses and negative cash flows for the foreseeable
      future, and expects to spend significant amounts of capital to enhance its
      products and services, develop further sales and operations and fund
      expansion. As a result, the Company will need to generate significant
      revenue to achieve profitability. Even if the Company does achieve
      profitability, the Company may not be able to sustain or increase
      profitability on a quarterly or annual basis. Continuation of the
      Company's current operations after utilizing its current cash reserves is
      dependent upon the generation of additional financial resources either
      through fund raising or the sale of certain assets of the Company. These
      matters raise substantial doubt about the Company's ability to continue as
      a going concern. The Company is currently involves in negotiation with the
      convertible bonds holders to extend the payment schedule and is examining
      options to sale certain assets of the Company. The financial statements
      have been prepared assuming the Company will continue as a going concern.
      The financial statements do not include any adjustments that might result
      from the outcome of this
uncertainty.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      2:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNIFICANT
      ACCOUNTING POLICIES</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
consolidated financial statements have been prepared in accordance with
accounting principles generally accepted in the United
States.</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Use
      of estimates:</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect the amounts reported in the financial statements and accompanying notes.
Actual results could differ from those estimates.</font></div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Financial
      statements in U.S. dollars:</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Most of
the revenues of the Company and its subsidiaries are received in U.S. dollars.
In addition, a substantial portion of the costs of the Company and its
subsidiaries are incurred in U.S. dollars. Therefore, management believes that
the dollar is the currency of the primary economic environment in which the
Company and its subsidiaries operate. Thus, the functional and reporting
currency of the Company and its subsidiaries is the U.S.
dollar.</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="MARGIN-LEFT: 90pt; TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Monetary
accounts maintained in currencies other than the U.S. dollar are re-measured
into U.S. dollars in accordance with Statement No. 52 of the Financial
Accounting Standards Board ("FASB") "Foreign Currency Translation" (&#8220;SFAS No.
52&#8221;). All transaction gains and losses from the re-measurement of monetary
balance sheet items are reflected in the statements of operations as financial
income or financial expenses as appropriate.</font></div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">c.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Principles
      of consolidation:</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
consolidated financial statements include the accounts of the Company and its
subsidiaries (unless the minority shareholders have certain approval or veto
rights) in Israel, the United States and Hong-Kong. Material intercompany
transactions and balances were eliminated upon consolidation. Material profits
from intercompany sales, not yet realized outside the group, were also
eliminated.</font></div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">d.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Cash
      equivalents:</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company considers unrestricted short-term highly liquid investments originally
purchased with maturities of three months or less to be cash
equivalents.</font></div>
    </div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">112</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      2:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNIFICANT
      ACCOUNTING POLICIES (Cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">e.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Restricted
      cash deposits:</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Restricted
cash includes: investments in certificates of deposit, which mature within one
year, and which are used to secure agreements with customers or banks, and cash
which is pledged to the Company's major convertible bond holder.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">f.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Marketable
      securities:</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company accounts for investments in marketable securities in accordance with
Statement of Financial Accounting Standard No. 115, "Accounting for Certain
Investments in Debt and Equity Securities" ("SFAS No. 115"). Management
determines the appropriate classification of its investments in marketable
securities and commercial paper at the time of purchase and reevaluates such
determinations at each balance sheet date.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
entire balance of marketable securities as of December 31, 2007, consists of
marketable securities received in connection with the OTI transaction, (see Note
1a).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Such
securities were classified as available-for-sale and were stated at fair value,
with unrealized gains and losses reported in accumulated other comprehensive
income in a separate component of shareholders&#8217; equity, net of taxes. Realized
gains and losses on the sale of such securities, as determined on a specific
identified basis, are included in the consolidated statement of operations. SFAS
115, SAB 59, "Noncurrent Marketable Equity Securities" and other related
pronouncements require the company to perform periodic reviews of individual
securities to determine whether a decline in the value of a security is other
than temporary. Impairment of the value of an investment may be indicated by
conditions such as a prolonged period during which the quoted market value of
the investment is less than its original cost, severe losses by the investee in
the current year or current and prior years, continued losses by the investee
for a period of years, suspension of trading in the securities, liquidity or
going concern problems of the investee or a current fair value of the investment
that is less than its carrying value.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">When
persuasive evidence exists that causes the Company to determine that a decline
in market value of equity securities is other than temporary, the unrealized
losses that are considered to be other than temporary are charged to income as
an impairment charge.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Since all
OTI securities were received by the Company on December 31, 2006, (upon the
closing of the OTI transaction) no unrealized gains or losses were recognized
during fiscal 2006.&#160;&#160;During 2007, the Company recorded write down
expenses in an amount of $ 2,699 due to a decline in the fair value of OTI
securities that is considered other than temporary and recognized a loss in an
amount of $1,116. (See also Note 3)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
2008, the Company sold all its OTI's shares and recognized a loss in an amount
of $862<font style="DISPLAY: inline; FONT-WEIGHT: bold">.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">g.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Allowance
      for doubtful accounts:</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
allowance for doubtful accounts is determined with respect to specific amounts
the Company has determined to be doubtful of collection. In determining the
allowance for doubtful accounts, the Company considers, among other things, its
past experience with such customers and the information available regarding such
customers.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
            </td>
            <td align="right" style="WIDTH: 36pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">h.&#160;</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Inventories:</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Inventories
are stated at the lower of cost or market value. Inventory write-offs are mainly
provided to cover risks arising from slow-moving items or technological
obsolescence. Cost is determined as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Raw
materials, parts and supplies - using the &#8220;moving average cost"
method.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Finished
products - on the basis of direct manufacturing costs, with the addition of
allocable, indirect manufacturing costs or, using the &#8220;moving average cost"
method.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">113</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      2:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNIFICANT
      ACCOUNTING POLICIES (Cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
            </td>
            <td align="right" style="WIDTH: 36pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">i.</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Investment
      in a certain majority owned
subsidiary:</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
investment in a certain majority-owned company is presented using the equity
method of accounting in accordance with Accounting Principle Bulletin No. 18,
&#8220;The Equity Method of Accounting for Investments in Common Stock&#8221;, due to
substantive participation rights held by the minority, which impact the
Company&#8217;s ability to exert control over the subsidiary. See Note 6.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">j.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Property
      and equipment:</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Property
and equipment are stated at cost, net of accumulated depreciation.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Depreciation
is computed using the straight-line method, over the estimated useful lives, at
the following annual rates:</font></div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="center">
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="center">
          <div style="MARGIN-LEFT: 99pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">
            <table cellpadding="0" cellspacing="0" width="68%" style="TEXT-ALIGN: left">
                <tr style="TEXT-ALIGN: left;">
                  <td valign="top" width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="top" width="49%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></div>
                  </td>
                </tr>
                <tr>
                  <td valign="top" width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="top" width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                </tr>
                <tr>
                  <td align="left" valign="top" width="49%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Computers
      and peripheral equipment</font></div>
                  </td>
                  <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="top" width="49%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">33</font></div>
                  </td>
                </tr>
                <tr>
                  <td align="left" valign="top" width="49%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Office
      furniture and equipment</font></div>
                  </td>
                  <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="top" width="49%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6 -
      15</font></div>
                  </td>
                </tr>
                <tr>
                  <td align="left" valign="top" width="49%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Leasehold
      improvements</font></div>
                  </td>
                  <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="top" width="49%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Over
      the shorter of the term of the lease or the life of the
    asset</font></div>
                  </td>
                </tr>
            </table>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">k.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Impairment
      of long-lived assets and intangible
assets:</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company's long-lived assets and certain identifiable intangible assets are
reviewed for impairment in accordance with Statement of Financial Accounting
Standard No. 144, "Accounting for the Impairment or Disposal of Long-Lived
Assets" ("SFAS No. 144") whenever events or changes in circumstances indicate
that the carrying amount of an asset may not be recoverable. Recoverability of
assets to be held and used is measured by a comparison of the carrying amount of
an asset to the future undiscounted cash flows expected to be generated by the
asset. If such asset is considered to be impaired, the impairment to be
recognized is measured by the amount by which the carrying amount of the asset
exceeds the fair value of the asset. Assets to be disposed of by sale are
reported at the lower of the carrying amount or fair value, less costs to
sell.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">l.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Convertible
      Bonds<font style="DISPLAY: inline; FONT-WEIGHT: bold">:</font></font></div>
              </td>
            </tr>
        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Beneficial
      conversion feature:</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company has considered the provisions of EITF Issue No.00-19, &#8220;Accounting for
Derivative Financial Instruments Indexed to, and Potentially Settled in, a
Company&#8217;s Own Stock&#8221;, and determined that the embedded conversion feature should
not be separated from the host instrument because it qualifies for equity
classification in paragraphs 12-32 of EITF Issue No.00-19. Furthermore, the
Company applied Emerging Issues Task Force Issue No.&#160;00-27
(EITF&#160;00-27). &#8220;Application of EITF Issue No.&#160;98-5, Accounting for
Convertible Securities with Beneficial Conversion Features or Contingency
Adjustable Conversion Ratios, to Certain Convertible Instruments,&#8221; which is
effective for such instruments.&#160;&#160;This EITF Issue clarified the
accounting for instruments with beneficial conversion features or contingency
adjustable conversion ratios.</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
beneficial conversion feature has been calculated by allocating the proceeds
received in financing transactions to the convertible instrument and to any
detachable warrants included in the transaction, and by measuring the intrinsic
value of the convertible instrument based on the effective conversion price as a
result of the allocated proceeds.</font></div>
    </div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">114</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      2:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNIFICANT
      ACCOUNTING POLICIES (Cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">l.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Convertible
      Bonds (cont.):</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Beneficial
      conversion feature (cont.):</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
amount of the beneficial conversion feature with respect to convertible bonds
was recorded as a discount on the convertible bonds with a corresponding amount
credited directly to shareholders&#8217; equity as additional paid in capital. After
the initial recognition, the discount on the convertible bonds is amortized as
interest expenses over the term of the bonds.</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 90pt">
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As stated
in Note 13, during 2008 the entire discount was recognized as an expense due to
a breach of the terms of the convertible bonds.</font></div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Issuance
      costs of convertible bonds &#8211; deferred
charges:</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Costs
incurred in respect of obtaining financing through issuance of convertible bonds
are deferred and expensed as financing expenses over the contractual term of the
bonds.</font></div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Modification
      (or exchange) of a convertible
bonds</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company applied the provisions of EITF Issue 06-06 "Debtor's Accounting for a
Modification (or Exchange) of Convertible Debt Instruments" ("EITF No. 06-6")
and the provisions of EITF No. 96-19, "Debtor's Accounting or a Modification or
Exchange of Debt Instruments", with respect to the modification of terms of
convertible debt instruments. According to these pronouncements, the Company
concluded that the modification of convertible bonds that occurred during
November 2007 did not result in a debt extinguishment and the modification that
occurred in June 2008 was determined to be a debt extinguishment. See Note
13.</font></div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">m.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Accrued
      severance pay and severance pay
fund:</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
liabilities of the Company for severance pay of its Israeli employees are
calculated pursuant to Israel's Severance Pay Law. Employees are entitled to one
month's salary for each year of employment, or portion thereof. The Company's
liability for all its employees is presented under accrued severance pay. The
Company deposits on a monthly basis to severance pay funds and insurance
policies. The value of these policies is presented as an asset on the Company's
balance sheet.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
deposited funds include accrued income up to the balance sheet date. The
deposited funds may be withdrawn only upon the fulfillment of the Company&#8217;s
obligation pursuant to Israel's Severance Pay Law or labor
agreements.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Severance
expenses for the years ended December 31, 2006, 2007 and 2008 amounted to $159,
$57 and $108, respectively.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">n.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Goodwill
      and Intangible assets:</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Intangible
assets are amortized over their useful lives using the straight line method of
amortization that reflects the pattern in which the economic benefits of the
intangible assets are consumed or otherwise used up, in accordance with SFAS No.
142, &#8220;Goodwill and Other Intangible Assets". (SFAS No. 142)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Goodwill
represents the excess of the aggregate purchase price over the fair value of the
net assets acquired in a purchase business combination. Goodwill is not
amortized, but rather is tested for impairment at least annually or between
annual tests, if certain events or indications of impairment occur in accordance
with SFAS No. 142. Goodwill is tested for impairment at the reporting unit level
by comparing the fair value of the reporting unit with its carrying
value.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
2008, the Company recorded an impairment of goodwill in an amount of $3,235. See
Note&#160;8.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">115</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      2:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNIFICANT
      ACCOUNTING POLICIES (Cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
            </td>
            <td align="right" style="WIDTH: 36pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">o.</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Revenue
      recognition:</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company and its subsidiaries generate their revenues from the sale of products,
maintenance, royalties and long term contracts (including training and
installation).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The sale
of products involves the sale of active and passive RFID products, CSMS and raw
materials. The Company sells its products in the USA through distributors and
directly, in Asia Pacific through a local subsidiary and directly in the rest of
the world.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Product
sales are recognized in accordance with Staff Accounting Bulletin No.&#160;104,
&#8220;Revenue Recognition&#8221; (&#8220;SAB No.&#160;104&#8221;), when persuasive evidence of an
agreement exists, delivery of the product has occurred, the fee is fixed or
determinable, collectability is probable, and inconsequential or perfunctory
performance obligations remain. If the product requires specific customer
acceptance, revenue is deferred until customer acceptance occurs or the
acceptance provision lapses.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company recognized certain long-term contract revenues in accordance with
Statement of Position (&#8220;SOP&#8221;) 81-1, &#8220;Accounting for Performance of
Construction-Type and Certain Production Type Contracts.&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
to SOP 81-1, revenues from these contracts are recognized under the percentage
of completion method.&#160;&#160;The Company measure the percentage of
completion based on output or input criteria, such as contract milestones,
percentage of engineering completion or number of units shipped, as applicable
to in each contract.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Provisions
for estimated losses on uncompleted contracts are made during the period in
which such losses are first identified, in the amount of the estimated loss on
the entire contract. As of December 31, 2008, no such estimated losses were
identified.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company believes that the use of the percentage of completion method is
appropriate, since the Company has the ability, using also independent
subcontractor's evaluation, to make reasonably dependable estimates of the
extent of progress made towards completion, contract revenues and contract
costs.&#160;&#160;In addition, contracts executed include provisions that
clearly specify the enforceable rights of the parties to the contract, the
consideration to be exchanged and the manner and terms of
settlement.&#160;&#160;In all cases, the Company expects to perform our
contractual obligations and the parties are expected to satisfy their
obligations under the contract.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
contracts that do not meet all the conditions mentioned above, the Company
utilized zero estimates of profits; equal amounts of revenue and cost are
recognized until results can be estimated with sufficient accuracy.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Revenues
and costs recognized pursuant to SOP 81-1 on contracts in progress are subject
to management estimates.&#160;&#160;Actual results could differ from these
estimates.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company is not obligated to accept returned products or issue credit for
returned products, unless a product return has been approved by us in advance
and according to specific terms and conditions. As of December 31, 2008 the
Company had an allowance for customer's returns in the amount of
$88.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company applied the provisions of EITF Issue No. 00-21 &#8220;Revenue Arrangements
with Multiple Deliverables&#8221; for multiple element arrangements. EITF Issue No.
00-21 provides guidance on how to account for arrangements that involve the
delivery or performance of multiple products, services and/or rights to use
assets. For such arrangements, each element of the contract is accounted for as
a separate unit when it provides the customer value on a stand-alone basis and
there is objective evidence of the fair value of the related unit.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">116</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      2:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNIFICANT
      ACCOUNTING POLICIES (Cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
            </td>
            <td align="right" style="WIDTH: 36pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">o.</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Revenue
      recognition (cont.):</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Maintenance
and support revenues included in multiple-element arrangements are deferred and
recognized on a straight-line basis over the term of the maintenance and support
agreement. For these multiple element arrangements, the Company accounts for
each unit of the contract (maintenance, support and services) as a separate
unit, when each unit provides value to the customer on a stand-alone basis and
there is objective evidence of the fair value of the stand-alone
unit.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Deferred
revenues and customer advances include amounts received from customers for which
revenues have not been recognized.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company is entitled to royalties upon the issuance of certificates. Such
royalties are recognized when the sales are reported to the Company (usually on
a monthly basis).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company derives our revenues mainly from sale of hardware products and long term
contracts that include embedded software that management considers to be
incidental. Such revenues are recognized in accordance with SAB No. 104 and SOP
81-1, as mentioned above. However, in limited circumstances, the Company
provides software upgrades in respect of the embedded software of hardware
products sold to our customers in the past. Such revenues are recognized when
all criteria outlined in Statement of Position No. 97-2 &#8220;Software Revenue
Recognition&#8221; (&#8220;SOP No. 97-2&#8221;) (as amended) are met: when persuasive evidence of
an agreement exists, delivery of the product has occurred (i.e. the services
have been provided), no significant obligations under the agreement remain, the
fee is fixed or determinable and collectability is probable.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
            </td>
            <td align="right" style="WIDTH: 36pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">p.</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Shipping
      and handling costs:</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Shipping
and handling fees billed to customers are reflected as revenues while the
related shipping and handling costs are included in cost of revenues. To date,
shipping and handling costs have not been material.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
            </td>
            <td align="right" style="WIDTH: 36pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">q.</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Research
      and development costs:</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Research
and development costs (other than software) are expensed as
incurred.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Research
and development costs incurred in the process of software production before
establishment of technological feasibility, are expensed as incurred. Costs of
the production of a product master incurred subsequent to the establishment of
technological feasibility are capitalized according to the principles set forth
in SFAS No. 86, "Accounting for the Costs of Computer Software to be Sold,
Leased or Otherwise Marketed". Based on the Company's product development
process, technological feasibility is established upon completion of a detailed
program design or a working model.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Capitalized
software development costs are amortized on a product-by-product basis
commencing with general product release by the greater of the amount computed
using: (i) the ratio that current gross revenues from sales of the software
product bear to the total of current and anticipated future gross revenues from
sales of that software, or (ii) the straight-line method over the estimated
useful life of the software product (three years).</font><br></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">117</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      2:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNIFICANT
      ACCOUNTING POLICIES (Cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
            </td>
            <td align="right" style="WIDTH: 36pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">r.</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Income
      taxes:</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company and its subsidiaries account for income taxes in accordance with
Statement of Financial Accounting Standard (SFAS) 109, "Accounting for Income
Taxes". This Statement prescribes the use of the liability method whereby
deferred tax asset and liability account balances are determined based on
differences between the financial reporting and tax bases of assets and
liabilities and are measured using the enacted tax rates and laws that will be
in effect when the differences are expected to reverse. The Company and its
subsidiaries provide a valuation allowance, if necessary, to reduce deferred tax
assets to their estimated realizable value.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Effective
January 1, 2007, the Company adopted FASB Interpretation No. 48 (FIN 48),
&#8220;Accounting for Uncertainty in Income Taxes&#8221; ("FIN 48 "). FIN 48 prescribes
detailed guidance for the financial statement recognition, measurement and
disclosure of uncertain tax positions recognized in an enterprise&#8217;s financial
statements in accordance with SFAS No. 109. According to FIN 48, tax positions
must meet a more-likely-than-not recognition threshold. The Company&#8217;s accounting
policy, pursuant to the adoption of FIN 48 is to classify interest and penalties
relating to uncertain tax positions under income taxes, however the Company did
not recognize such items in its fiscal 2007 and 2008 financial
statements.&#160;&#160;&#160;The adoption of FIN 48 did not have a material
effect on the financial position and results of operations of the
Company.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
            </td>
            <td align="right" style="WIDTH: 36pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">s.</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Concentrations
      of credit risk:</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Financial
instruments that potentially subject the Company to concentrations of credit
risk consist principally of cash and cash equivalents, restricted cash deposits,
marketable securities (on December 31, 2007) and trade receivables. The
Company's trade receivables are derived from sales to customers located
primarily in Europe (including Eastern Europe), the United States, Asia Pacific,
Africa, and Israel. The Company performs ongoing credit evaluations of its
customers' financial conditions. The allowance for doubtful accounts is
determined with respect to specific debts that the Company has determined to be
doubtful of collection. See Note 2g.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Cash and
cash equivalents, restricted cash deposits and marketable securities are
deposited with major banks in the United States, Israel and Hong-Kong.
Management believes that such financial institutions are financially sound and,
accordingly, minimal credit risk exists with respect to these financial
instruments.</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 36pt; TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company has no significant off-balance-sheet concentration of credit risk, such
as foreign exchange contracts, option contracts or other foreign hedging
arrangements.</font></div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
            </td>
            <td align="right" style="WIDTH: 36pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">t.</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Basic
      and diluted earnings (loss) per
share:</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Basic
earnings (loss) per share are computed based on the weighted average number of
ordinary shares outstanding during each year. Diluted earnings (loss) per share
are computed based on the weighted average number of ordinary shares outstanding
during each year, plus the dilutive potential of stock options and warrants
outstanding during the year using the treasury stock method and the dilutive
potential of convertible bonds using the &#8220;if-converted method&#8221;, in accordance
with SFAS No. 128, "Earnings per Share".</font></div>
    </div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">118</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      2:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNIFICANT
      ACCOUNTING POLICIES (Cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
            </td>
            <td align="right" style="WIDTH: 36pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">t.</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Basic
      and diluted earnings (loss) per share
(cont.):</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The net
income (loss) and the weighted average number of shares used in computing basic
and diluted earning (loss) per share for the reported periods are as
follows:</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div align="left">
        <div align="center">
          <div style="MARGIN-LEFT: 81pt" align="left">
            <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">
              <table cellpadding="0" cellspacing="0" width="82%" style="TEXT-ALIGN: left">
                  <tr style="TEXT-ALIGN: left;">
                    <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="10" nowrap valign="bottom" width="34%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year&#160;ended&#160;December&#160;31,</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr>
                    <td valign="bottom" width="64%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2006</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      income (loss) used for the computation of basic earnings (loss) per
      share</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,440</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(11,311</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(12,358</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Interest
      expenses on convertible bonds</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">75</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      income (loss) used for the computation diluted earnings (loss) per
      share</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,515</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(11,311</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(12,358</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                  </tr>
              </table>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <div align="center">
          <div style="MARGIN-LEFT: 81pt" align="left">
            <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">
              <table cellpadding="0" cellspacing="0" width="82%" style="TEXT-ALIGN: left">
                  <tr style="TEXT-ALIGN: left;">
                    <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="10" nowrap valign="bottom" width="34%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year&#160;ended&#160;December&#160;31,</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr>
                    <td valign="bottom" width="64%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2006</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="64%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted
      average number of shares used in the computation of basic earnings (loss)
      per share</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,969,212</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,391,860</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,171,406</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="64%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Add:</font></div>
                    </td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="64%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Additional
      shares from the assumed exercise of employee stock options and warrants,
      net</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">164,016</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted
      average number of additional shares issued upon the assumed conversion of
      convertible bonds</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">79,563</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted
      average number of shares used in the computation of diluted earnings
      (loss) per share</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,212,791</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,391,860</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,171,406</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
              </table>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">All
outstanding stock options, warrants and convertible bonds have been excluded
from the calculation of the diluted net loss per share for the years ended
December 2007 and 2008 since the effect of the shares issuable with respect of
these instruments was anti-dilutive.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
number of potential shares from the conversion of convertible bonds, options and
warrants that have been excluded from the calculation were 795,279, 2,513,927
and 2,826,466 for the years ended December 31, 2006, 2007 and 2008
respectively.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
            </td>
            <td align="right" style="WIDTH: 36pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">u.</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Fair
      value of financial instruments:</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
following methods and assumptions were used by the Company and its subsidiaries
in determining their fair value disclosures for financial
instruments:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">At
December 31, 2008 and 2007, the carrying amounts of cash and cash equivalents,
restricted cash deposits, marketable securities, current trade receivables,
other accounts receivable, trade payables, short-term bank credit and other
accounts payable approximate their fair value due to the short-term maturity of
such instruments. Regarding the fair value of marketable securities received
from the OTI transaction, see Notes 2f and Note 3.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of
December 31, 2008, the carrying amount of the convertible bonds approximates
their fair value due to the fact that the bonds are presented at the principal
amount and the investors are entitled to demand immediate
repayment.</font><br></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">119</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      2:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNIFICANT
      ACCOUNTING POLICIES (Cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
            </td>
            <td align="right" style="WIDTH: 36pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">v.&#160;</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Accounting
      for stock-based compensation:</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company accounts for stock based compensation in accordance with FASB Statement
No. 123 (revised 2004), &#8220;Share-Based Payment&#8221; (&#8220;SFAS No. 123R&#8221;), which was
adopted effectively commencing January 2006.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SFAS 123R
requires an entity to estimate the fair value of equity-based payment awards on
the date of grant using an option-pricing model. The value of the portion of the
award that is ultimately expected to vest is recognized as an expense over the
requisite service periods in the Company&#8217;s consolidated statement of
operations.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company estimates the fair value of employee stock options using a Black-Scholes
valuation model. The Company amortizes compensation costs using the graded
vesting attribution method over the vesting period, net of estimated
forfeitures.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
            </td>
            <td align="right" style="WIDTH: 36pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">w.</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Advertising
      costs:</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company expenses advertising costs as incurred. Advertising expenses for the
years ended December 31, 2006, 2007 and 2008, were approximately $18, $139 and
$58, respectively.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
            </td>
            <td align="right" style="WIDTH: 36pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">x.</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Comprehensive
      Income:</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company has no comprehensive income components other than net income (loss) in
the reporting periods.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
            </td>
            <td align="right" style="WIDTH: 36pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">y.</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Reclassifications:</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Certain
comparative figures have been reclassified to conform to the current period
presentation. The changes were not material and did not affect net income, cash
flow or stockholders equity.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
            </td>
            <td align="right" style="WIDTH: 36pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">z.&#160;</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Fair
      value measurements:</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
September 2006, the FASB issued SFAS No.157, &#8220;<font style="DISPLAY: inline; FONT-STYLE: italic">Fair Value Measurements</font>&#8221;
(&#8220;SFAS 157&#8221;). This Statement clarifies the definition of fair value, establishes
a framework for measuring fair value, and expands the disclosures on fair value
measurements. However, FAS 157 does not require any new fair value measurement.
The Company chose to apply the provisions of SFAS No.&#160;157 early, beginning
January 1, 2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">According
to SFAS 157, fair value is an exit price, representing the amount that would be
received to sell an asset or the amount that would be paid to transfer a
liability in an orderly transaction between market participants. As such, fair
value is a market-based measurement that is required to be determined based on
the assumptions that market participants would use to determine the price of an
asset or a liability.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As a
basis for considering such assumptions, SFAS 157 establishes the following fair
value hierarchy, which prioritizes the inputs used in the valuation
methodologies in measuring fair value:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Level 1 -
Quoted prices (unadjusted) in active markets that are accessible at the
measurement date for assets or liabilities. The fair value hierarchy gives the
highest priority to Level 1 inputs.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Level 2 -
Observable prices that are based on inputs not quoted on active markets, but
corroborated by market data.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Level 3 -
Unobservable inputs are used when little or no market data is available. Level 3
inputs are considered as the lowest priority under the fair value
hierarchy.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">120</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      2:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNIFICANT
      ACCOUNTING POLICIES (Cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
            </td>
            <td align="right" style="WIDTH: 36pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">z.</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Fair
      value measurements (cont.):</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
determining fair value, companies are required to utilize valuation techniques
that maximize the use of observable inputs and minimize the use of unobservable
inputs to the extent possible as well as to consider counterparty credit risk in
the assessment of fair value.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of
December 31, 2007, the Company measured the investments in marketable securities
at fair value in accordance with the provisions of SFAS 157. Such financial
instruments are classified within Level 1 due to the fact that these assets are
valued using quoted market prices. See Note 3.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Effective
October&#160;10, 2008, the Company adopted FSP SFAS 157-3, <font style="DISPLAY: inline; FONT-STYLE: italic">&#8220;Determining the Fair Value of a
Financial Asset When the Market for That Asset Is Not Active&#8221;</font> (&#8220;FSP SFAS
157-3&#8221;), which clarifies the application of SFAS 157, in an inactive market and
illustrates how an entity would determine fair value in an inactive market. FSP
SFAS 157 was issued in October 2008 and is effective immediately and applies to
prior periods for which financial statements have not been issued. The adoption
of FSP SFAS 157-3 did not have an impact on the Company&#8217;s consolidated results
of operations and financial position.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;In
February 2007, the FASB issued SFAS No. 159, &#8220;<font style="DISPLAY: inline; FONT-STYLE: italic">The Fair Value Option for Financial
Assets and Financial Liabilities - Including an amendment of FASB Statement
115</font>&#8221; (&#8220;SFAS 159&#8221;). This pronouncement permits all entities to choose to
elect, at specified election dates, to measure eligible financial instruments at
fair value. Effective January&#160;1, 2008, the Company adopted SFAS&#160;159.
The adoption did not impact the financial position and results of operations of
the Company.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
            </td>
            <td align="right" style="WIDTH: 36pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">aa.</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Recently
      issued accounting pronouncements:</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SFAS No.
141(R), &#8220;Business Combinations&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
December 2007, the FASB issued SFAS No.&#160;141(R), &#8220;Business Combinations&#8221;.
This Statement will replace SFAS No.&#160;141, &#8220;Business Combinations&#8221; (&#8220;SFAS
141(R)&#8221;). SFAS 141(R) retains the fundamental requirements of SFAS 141 with
respect to the implementation of the acquisition method of accounting ("the
purchase method") for all business combinations and for the identification of
the acquirer for each business combination. This Statement also establishes
principles and requirements for how the acquirer recognizes and measures in its
financial statements the identifiable assets acquired, the liabilities assumed,
and any noncontrolling interest in the acquiree, how the acquirer recognizes and
measures the goodwill acquired in a business combination and the disclosure
requirements to enable users of the financial statements to evaluate the nature
and financial effects of the business combination.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SFAS
141(R) will apply prospectively to business combinations for which the
acquisition date is on or after December 15, 2008 (January 1, 2009 for the
Company). Early adoption of SFAS 141(R) is prohibited. The Company believes that
the initial adoption of SFAS 141R will not have a material impact on its
financial position and results of operations. However, due to the changes
described above, consummation of business combinations after the adoption of
SFAS 141R, could significantly impact the consolidated financial statements as
compared to prior acquisitions which were accounted for under existing GAAP
requirements.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">121</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      2:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNIFICANT
      ACCOUNTING POLICIES (Cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
            </td>
            <td align="right" style="WIDTH: 36pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">aa.</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Recently
      issued accounting pronouncements
(cont.):</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SFAS
No.&#160;160, &#8220;Noncontrolling Interests in Consolidated Financial
Statements&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
December 2007, the SFASB issued SFAS No.&#160;160, &#8220;Noncontrolling Interests in
Consolidated Financial Statements&#8221; (&#8220;SFAS 160&#8221;). This Statement amends ARB 51
and establishes accounting and reporting standards for the noncontrolling
(minority) interest in a subsidiary and for the deconsolidation of a subsidiary.
SFAS 160 clarifies that a noncontrolling interest in a subsidiary is an
ownership interest in the consolidated entity that should be reported as equity
in the consolidated financial statements. SFAS No.&#160;160 is effective for
fiscal years beginning on or after December 15, 2008 (January 1, 2009 for the
Company). Early adoption of SFAS 160 is prohibited. The Company believes that
the adoption of SFAS 160 will not have a material impact on its financial
position and results of operations.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FSP
SFAS&#160;142-3, &#8220;Determination of the Useful Life of Intangible
Assets&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In April
2008, the FASB issued FSP SFAS&#160;No. 142-3, <font style="DISPLAY: inline; FONT-STYLE: italic">&#8220;Determination of the Useful Life of
Intangible Assets&#8221;</font> (&#8220;FSP FAS 142-3&#8221;). FSP SFAS 142-3 amends the factors
that should be considered in developing renewal or extension assumptions used to
determine the useful life of a recognized intangible asset under FASB Statement
No. 142<font style="DISPLAY: inline; FONT-STYLE: italic">, &#8220;Goodwill and Other
Intangible Assets&#8221;.</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
pronouncement requires enhanced disclosures concerning a company&#8217;s treatment of
costs incurred to renew or extend the term of a recognized intangible asset. FSP
SFAS No. 142-3 is effective for financial statements issued for fiscal years
beginning after December&#160;15, 2008 (January 1, 2009 for the Company). Early
adoption is prohibited. The Company believes that the adoption of SFAS&#160;No.
142-3 will not have an impact on its financial position and results of
operations.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FSP
SFAS&#160;115-2 and SFAS&#160;124-2, Recognition and Presentation of
Other-Than-Temporary Impairments (&#8220;FSP&#160;SFAS 115-2
and&#160;124-2&#8221;)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
April&#160;9, 2009, the FASB issued FSP SFAS&#160;115-2 and 124-2 which is
intended to make the guidance more operational and improve the presentation and
disclosure of other-than-temporary impairments (&#8220;OTTI&#8221;) on debt and equity
securities in the financial statements. FSP SFAS 115-2 and 124-2 applies to debt
securities and requires that the total OTTI be presented in the statement of
income with an offset for the amount of impairment that is recognized in other
comprehensive income, which amount represents the noncredit component. Noncredit
component losses are to be recorded in other comprehensive income if an investor
can assess that (a)&#160;it does not have the intent to sell or (b)&#160;it is
not more likely than not that it will have to sell the security prior to its
anticipated recovery. FSP SFAS 115-2 and 124-2 is effective for interim and
annual periods ending after June&#160;15, 2009, with early adoption permitted
for periods ending after March&#160;15, 2009. FSP SFAS 115-2 and 124-2 will be
applied prospectively with a cumulative effect transition adjustment as of the
beginning of the period in which it is adopted. An entity early adopting FSP
SFAS 115-2 and 124-2 must also early adopt FSP SFAS 157-4 (as described below).
The Company is currently evaluating the impact of FSP SFAS 115-2 and 124-2 on
the consolidated financial statements.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FSP
SFAS&#160;157-4, Determining Fair Value When the Volume and Level of Activity
for the Asset or Liability Have Significantly Decreased and Identifying
Transactions that are not Orderly (&#8220;FSP SFAS 157-4&#8221;).</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">122</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      2:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNIFICANT
      ACCOUNTING POLICIES (Cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
            </td>
            <td align="right" style="WIDTH: 36pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">aa.&#160;</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Recently
      issued accounting pronouncements
(cont.):</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On April
9, 2009, the FASB issued FSP SFAS&#160;157-4 which provides additional guidance
on determining whether a market for a financial asset is not active and a
transaction is not distressed for fair value measurements under SFAS&#160;157,
Fair Value Measurements. FSP SFAS 157-4 will be applied prospectively and
retrospective application will not be permitted. FSP SFAS 157-4 will be
effective for interim and annual periods ending after June&#160;15, 2009, with
early adoption permitted for periods ending after March&#160;15, 2009. An entity
early adopting FSP SFAS 157-4 must also early adopt FSP SFAS&#160;115-2
and&#160;124-2.&#160;&#160;The Company is currently evaluating the impact of FSP
SFAS 157-4 on the consolidated financial statements.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 54pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      3:-</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">MARKETABLE
      SECURITIES</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
entire balance of marketable securities as of December 31, 2007 consists of
marketable securities received in connection with the OTI
transaction.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As stated
in Note 1a, 2,827,200 ordinary shares were issued to the Company in connection
with the OTI transaction (hereinafter &#8211; "OTI shares") (of which 212,040 shares
were received by the Company but relate to its consultants).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Securities
which were not considered restricted according to the provisions of SFAS No. 115
(securities that were subject to a lockup of less than one year), were
classified as available-for-sale and were stated at fair value (after
consideration with the relevant restriction period of each portion). There were
no securities that are considered to be restricted under the provisions of SFAS
No. 115, as of December 31, 2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
2007, the Company sold 1,414,716 shares of the OTI shares for a total amount of
$7,639 and recorded net realized losses in an amount of $1,116. As of December
31, 2007, the Company recorded write-down expenses in an amount of $2,699, due
to the decline in the fair market value of OTI securities that was considered
other than temporary. As of that date, the Company held 1,308,484 OTI shares (of
which 108,040 were held by the Company but relate to its consultants in the OTI
transaction) of which 373,594 and 373,594 (excluding the shares related to the
consultant as mentioned above) were subject to the abovementioned lock-up
agreement and were restricted for three month and six month periods,
respectively.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
2008, the Company sold the remaining, 1,200,444 OTI shares, for a total amount
of $3,192 and recorded net realized losses in an amount of $862. As of December
31, 2008, the Company holds 63,768 shares of OTI of which 63,768 are held by the
Company but relate to consultant.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As
required under SFAS No. 115 for available for sale securities, OTI securities
were stated at fair value. The fair value of OTI shares was measured on a
recurring basis at each balance sheet date based on the market value of OTI
securities, using quoted prices in active market (Level 1 inputs as defined in
SFAS 157), and after consideration of the discount due to the
lockup.</font><br></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">123</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 54pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      4:-</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">OTHER
      ACCOUNTS RECEIVABLE AND PREPAID
EXPENSES</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <div align="left">
        <div align="center">
          <div style="MARGIN-LEFT: 54pt" align="left">
            <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">
                <div style="MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">
                  <table cellpadding="0" cellspacing="0" width="85%" style="TEXT-ALIGN: left">
                      <tr style="TEXT-ALIGN: left;">
                        <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td colspan="6" nowrap valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31,</font></div>
                        </td>
                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      </tr>
                      <tr>
                        <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                        </td>
                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                        </td>
                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      </tr>
                      <tr>
                        <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      </tr>
                      <tr bgcolor="#ccffcc">
                        <td align="left" valign="bottom" width="76%">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Prepaid
      expenses</font></div>
                        </td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">689</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">496</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      </tr>
                      <tr bgcolor="white">
                        <td align="left" valign="bottom" width="76%">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Government
      authorities</font></div>
                        </td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">204</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">413</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      </tr>
                      <tr bgcolor="#ccffcc">
                        <td align="left" valign="bottom" width="76%">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Advance
      payment to suppliers</font></div>
                        </td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,455</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">63</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      </tr>
                      <tr bgcolor="white">
                        <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Others</font></div>
                        </td>
                        <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">52</font></td>
                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">102</font></td>
                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      </tr>
                      <tr bgcolor="#ccffcc">
                        <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      </tr>
                      <tr bgcolor="white">
                        <td valign="bottom" width="76%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                        <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,400</font></td>
                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,074</font></td>
                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      </tr>
                  </table>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 54pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      5:-</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">INVENTORIES</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <div align="left">
        <div align="center">
          <div style="MARGIN-LEFT: 54pt" align="left">
            <div style="MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">
              <table cellpadding="0" cellspacing="0" width="85%" style="TEXT-ALIGN: left">
                  <tr style="TEXT-ALIGN: left;">
                    <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="6" nowrap valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31,</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr>
                    <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr>
                    <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="76%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Raw
      materials, parts and supplies</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">94</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">170</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Finished
      products</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">472</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,137</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td valign="bottom" width="76%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">566</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,307</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
              </table>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of
December 31, 2007 and 2008 the inventory is presented net of allowance for slow
inventory in the amount of approximately $100, and $109,
respectively.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      6:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">INVESTMENT
      IN A CERTAIN MAJORITY OWNED
SUBSIDIARY</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
December 1997, the Company set up SuperCom Slovakia, owned equally with another
third-party investor, in order to execute a transaction with the Ministry of
Interior of the Slovak Republic.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In March
2000, the Company purchased an additional 16% of SuperCom<font style="DISPLAY: inline">&#160;</font>Slovakia, at a nominal value of $1, and
granted such third-party investor a loan in an amount of $275, bearing interest
of 0.7% per month, for any amounts outstanding. Interest is compounded on the
outstanding principal balance of the loan and is to be repaid under the same
conditions as the outstanding principal balance.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
third-party investor has an option to buy back 16% of the shares, for $1, upon
repayment of the loan to the Company.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company currently owns 66% of SuperCom Slovakia's outstanding shares and
accounts for the investment using the equity method of accounting, due to the
substantive participation rights held by the minority, which impact the
Company&#8217;s ability to exert control over the subsidiary.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
the fourth quarter of 2006, the Company wrote down the entire loan balance in
that company due to litigation developments regarding this issue and due to low
probability of collection. See Note 11c2. During the reported periods, the
subsidiary had no operating activity.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">124</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      7:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">PROPERTY
      AND EQUIPMENT</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <div align="center">
          <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
            <div style="MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
              <table cellpadding="0" cellspacing="0" width="85%">
                  <tr>
                    <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="6" nowrap valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31,</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr>
                    <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="76%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cost:</font></div>
                    </td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Computers
      and peripheral equipment</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">287</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">354</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Office
      furniture and equipment</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">193</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">193</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Leasehold
      improvements</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">33</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">39</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">513</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">586</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="76%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accumulated
      depreciation:</font></div>
                    </td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Computers
      and peripheral equipment</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">183</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">243</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Office
      furniture and equipment</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">92</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">103</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Leasehold
      improvements</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">22</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">295</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">368</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Depreciated
      cost</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">218</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">218</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
              </table>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Depreciation
expenses for the years ended December 31, 2006, 2007 and 2008, were $335, $38
and $73, respectively.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      8:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">OTHER
      ASSETS</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Goodwill</font></font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
changes in the carrying amount of goodwill for the years ended December 31, 2007
and 2008 are as follows:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <div align="center">
          <div align="center">
            <div align="center">
              <div align="center">
                <div align="center">
                  <div align="center">
                    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="center">
                        <div style="MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="center">
                          <table cellpadding="0" cellspacing="0" width="88%" style="TEXT-ALIGN: left">
                              <tr style="TEXT-ALIGN: left;">
                                <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td colspan="6" nowrap valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31,</font></div>
                                </td>
                                <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              </tr>
                              <tr>
                                <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                                </td>
                                <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                                </td>
                                <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              </tr>
                              <tr bgcolor="#ccffcc">
                                <td align="left" valign="bottom" width="76%">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance
      as of January 1</font></div>
                                </td>
                                <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,644</font></td>
                                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              </tr>
                              <tr bgcolor="white">
                                <td align="left" valign="bottom" width="76%">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Goodwill
      resulting from acquisition of SHC (see Note 1a)</font></div>
                                </td>
                                <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,644</font></td>
                                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              </tr>
                              <tr bgcolor="#ccffcc">
                                <td align="left" valign="bottom" width="76%">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Adjustment
      (*)</font></div>
                                </td>
                                <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">276</font></td>
                                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              </tr>
                              <tr bgcolor="white">
                                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Impairment
      loss (**)</font></div>
                                </td>
                                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                                <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3,235</font></td>
                                <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                              </tr>
                              <tr bgcolor="#ccffcc">
                                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance
      as of December 31</font></div>
                                </td>
                                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                                <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,644</font></td>
                                <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                                <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px; BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">685</font></td>
                                <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              </tr>
                          </table>
                        </div>
                      </div>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(*)</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
      2008, the Company adjusted the amount of goodwill resulted from the
      acquisition of SHC due to:</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Allowance
      for sales prior to the acquisition in the amount of
  $202</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Liabilities
      to employees prior to the transaction date, in the amount of $
      34</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Direct
      expenses related to the acquisition in the amount of
  $40</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(**)</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As
      part of the annual review for impairment in accordance with SFAS No. 142
      and 144, in November 2008, the Company&#160;examined the fair value of the
      intangible assets and the goodwill and in doing so, considered in part, a
      third party expert services. The&#160;valuation referred to the U.S.
      subsidiary as a single reporting
unit.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
valuation was conducted on a going concern basis. Since the U.S. subsidiary is
closely-held, and thus without a public market for its ownership interests, the
appraisal was conducted according to common appraisal practices, and was based
on the Free Discounted Cash-Flows ("DCF") method.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
addition, the Company received market indication with respect to the fair value
of the U.S. subsidiary in the first quarter of 2009. Based on the above the
Company was required to recognize an impairment loss in the amount of
$3,235.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">125</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      8:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">OTHER
      ASSETS (Cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Intangible assets and
      deferred charges</font></font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div align="left">
        <div align="center">
          <div align="center">
            <div align="center">
              <div align="center">
                <div align="center">
                  <div align="center">
                    <div align="center">
                      <div align="center">
                        <div align="center">
                          <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                            <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="center">
                              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="center">
                                <div style="MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="center">
                                  <table cellpadding="0" cellspacing="0" width="88%" style="TEXT-ALIGN: left">
                                      <tr style="TEXT-ALIGN: left;">
                                        <td valign="bottom" width="51%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="24%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td colspan="6" nowrap valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December&#160;31,</font></div>
                                        </td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr>
                                        <td valign="bottom" width="51%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="24%" style="BORDER-BOTTOM: black 2px solid">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: normal">Amortization</font></font></div>
                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: normal">period</font></font></div>
                                        </td>
                                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">2007</font></font></div>
                                        </td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">2008</font></font></div>
                                        </td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="#ccffcc">
                                        <td align="left" valign="bottom" width="51%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline">Cost</font></font></div>
                                        </td>
                                        <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">&#160;</td>
                                        <td valign="bottom" width="24%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td colspan="2" nowrap valign="bottom" width="10%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td colspan="2" nowrap valign="bottom" width="10%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="white">
                                        <td align="left" valign="bottom" width="51%" style="PADDING-LEFT: 0pt">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred
      charges (a)</font></div>
                                        </td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="24%" style="PADDING-LEFT: 0pt">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Over
      the contractual life of the bonds</font></div>
                                        </td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">255</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">255</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="#ccffcc">
                                        <td align="left" valign="bottom" width="51%" style="PADDING-LEFT: 0pt">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Capitalized
      research and development costs (b)</font></div>
                                        </td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="24%" style="PADDING-LEFT: 0pt">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3
      Years</font></div>
                                        </td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">280</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">280</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="white">
                                        <td align="left" valign="bottom" width="51%" style="PADDING-LEFT: 0pt">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Patents
      (c)</font></div>
                                        </td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="24%" style="PADDING-LEFT: 0pt">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3
      Years</font></div>
                                        </td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">104</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">104</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="#ccffcc">
                                        <td align="left" valign="bottom" width="51%" style="PADDING-LEFT: 0pt">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Intellectual
      Property (d), (e)</font></div>
                                        </td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="24%" style="PADDING-LEFT: 0pt">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3
      Years (*)</font></div>
                                        </td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">650</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">650</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="white">
                                        <td align="left" valign="bottom" width="51%" style="PADDING-LEFT: 0pt">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Brand
      name (e)</font></div>
                                        </td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="24%" style="PADDING-LEFT: 0pt">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5
      Years (*)</font></div>
                                        </td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">500</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">500</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="#ccffcc">
                                        <td align="left" valign="bottom" width="51%" style="PADDING-LEFT: 0pt">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Customer
      Base (e)</font></div>
                                        </td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="24%" style="PADDING-LEFT: 0pt">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5
      Years (*)</font></div>
                                        </td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">506</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">506</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="white">
                                        <td valign="bottom" width="51%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="24%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="#ccffcc">
                                        <td valign="bottom" width="51%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="white">
                                        <td valign="bottom" width="51%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="24%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,295</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,295</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="#ccffcc">
                                        <td valign="bottom" width="51%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="white">
                                        <td align="left" valign="bottom" width="51%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline">Accumulated amortization</font></font></div>
                                        </td>
                                        <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">&#160;</font></td>
                                        <td valign="bottom" width="24%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="#ccffcc">
                                        <td align="left" valign="bottom" width="51%" style="PADDING-LEFT: 0pt">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred
      charges</font></div>
                                        </td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">96</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">255</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="white">
                                        <td align="left" valign="bottom" width="51%" style="PADDING-LEFT: 0pt">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Capitalized
      research and development costs</font></div>
                                        </td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">43</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">136</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="#ccffcc">
                                        <td align="left" valign="bottom" width="51%" style="PADDING-LEFT: 0pt">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Patent</font></div>
                                        </td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">16</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">55</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="white">
                                        <td align="left" valign="bottom" width="51%" style="PADDING-LEFT: 0pt">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Intellectual
      Property</font></div>
                                        </td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">61</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">306</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="#ccffcc">
                                        <td align="left" valign="bottom" width="51%" style="PADDING-LEFT: 0pt">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Brand</font></div>
                                        </td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">33</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">133</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="white">
                                        <td align="left" valign="bottom" width="51%" style="PADDING-LEFT: 0pt">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Customer
      Base</font></div>
                                        </td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">34</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">135</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="#ccffcc">
                                        <td valign="bottom" width="51%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="24%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="white">
                                        <td valign="bottom" width="51%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="#ccffcc">
                                        <td valign="bottom" width="51%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="24%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">283</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,020</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="white">
                                        <td valign="bottom" width="51%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                      <tr bgcolor="#ccffcc">
                                        <td align="left" valign="bottom" width="51%" style="PADDING-BOTTOM: 4px">
                                          <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amortized
      cost</font></div>
                                        </td>
                                        <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td valign="bottom" width="24%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                        <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,012</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,275</font></td>
                                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      </tr>
                                  </table>
                                </div>
                              </div>
                            </div>
                          </div>
                        </div>
                      </div>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
            </td>
            <td align="right" style="WIDTH: 18pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(*)</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Commencing
      on the closing date of the acquisition of SHC on August 28, 2007. See also
      Note 1a.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      deferred charges were incurred in respect of the issuance of convertible
      bonds during November, 2006 (an additional amount of $52 was recognized
      during 2007 with respect to those convertible bonds). Due to a breach of
      certain convertible bonds covenants in 2008, among other things, the
      Company had to accelerate deferred expenses in the amount of $138. See
      Note 13</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
      2007, the Company capitalized an amount of $280, related to the
      development of its CSMS
product.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">c.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
      February 2007, the Company purchased the remaining 20% of Vuance RFID from
      the minority for an amount of $100, which was attributed to
      patents.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">d.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
      the third quarter of 2007, the Company acquired the Credentialing Division
      of Disaster Management Solutions Inc. for an amount of $125. As a result
      of this transaction the Company allocated costs to Intellectual
      Property.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">e.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
      the third quarter of 2007, the Company acquired all of the issued and
      outstanding stock capital of SHC. As described in Note 1a, the Company
      allocated cost to:</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 81pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Intellectual
Property, Brand name, Customer Base and Goodwill.</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Amortization
of intangible assets and deferred charges amounted to $20, $277 and $737 for the
years ended December 2006, 2007 and 2008, respectively.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Estimated
amortization expenses for the next years are $548, $388, $203, and $136 in the
years 2009, 2010, 2011 and 2012, respectively.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">126</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      9:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">BANK
      CREDIT</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As
      of December 31, 2008, Vuance Inc had an account receivable line of credit
      from Bridge Bank in an aggregate amount of up to $&#160;1,000, and as of
      that date the amount of the loan was $296. The credit line bears interest
      at the WSJ Prime Rate plus an additional 2.5% annualized on the average
      daily gross financed amount outstanding. The Floor on Prime Rate is 6%. In
      addition Vuance Inc is required to pay minimum monthly interest of $1.5,
      plus a Facility fee of $7.5 annually. Bridge Bank has a perfect first
      position security interest in all of Vuance Inc's current and future
      assets, including intellectual property and general
      intangibles.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
weighted average interest rate on the credit line as of December 31, 2008 was
approximately 8.5%.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Other
than the loan from Bridge Bank, the Company has no other line from a
bank.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Long-term
      loans:</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><br></div>
    <div>
      <div align="left">
        <div align="center">
          <div>
            <div align="left">
              <div align="center">
                <div align="center">
                  <div align="center">
                    <div align="center">
                      <div style="MARGIN-LEFT: 81pt" align="left">
                        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">
                          <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">
                            <table cellpadding="0" cellspacing="0" width="70%" style="TEXT-ALIGN: left">
                                <tr style="TEXT-ALIGN: left;">
                                  <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                  <td colspan="6" nowrap valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
                                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December&#160;31,</font></div>
                                  </td>
                                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                </tr>
                                <tr>
                                  <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                  <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                                  </td>
                                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                  <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                                  </td>
                                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                </tr>
                                <tr>
                                  <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                  <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                  <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                </tr>
                                <tr bgcolor="#ccffcc">
                                  <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                                    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Banks</font></div>
                                  </td>
                                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">438</font></td>
                                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                </tr>
                                <tr bgcolor="white">
                                  <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                                    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Less
      - current maturities of long-term loans<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</font></div>
                                  </td>
                                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">438</font></td>
                                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                </tr>
                                <tr bgcolor="#ccffcc">
                                  <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                  <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                </tr>
                                <tr bgcolor="white">
                                  <td valign="bottom" width="76%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                                  <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                </tr>
                            </table>
                          </div>
                        </div>
                      </div>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 85.05pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">c.</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Regarding
      guarantees and liens - see Note
11b.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      10:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ACCRUED
      EXPENSES AND OTHER LIABILITIES</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <div align="center">
          <div style="MARGIN-LEFT: 54pt" align="left">
            <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
              <table cellpadding="0" cellspacing="0" width="84%">
                  <tr>
                    <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="6" nowrap valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31,</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr>
                    <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr>
                    <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                      <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Customer
      advances (*)</font></div>
                    </td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,334</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,521</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                      <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred
      revenues</font></div>
                    </td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">258</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">234</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                      <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accrued
      expenses (**)</font></div>
                    </td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,024</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,161</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other</font></div>
                    </td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">25</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">91</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td valign="bottom" width="76%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6,641</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,007</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
              </table>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(*)</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As
      of December 31, 2007 and 2008, an amount of $4,318 and $1,330,
      respectively, relates to advances from customers with respect to long term
      contract.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(**)</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As
      of December 31, 2007 and 2008, includes $141 and $1,260, respectively, of
      interest and financing charges related to convertible bonds, $1,099 and
      $192, respectively, related to marketing expenses and $26 and $876,
      respectively, related to subcontractors of long term
    contract.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">127</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      11:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">COMMITMENTS
      AND CONTINGENT LIABILITIES</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
            </td>
            <td align="right" style="WIDTH: 36pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a.</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Lease
      commitments:</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company's facilities and those of certain subsidiaries are rented under several
operating lease agreements for periods ending in 2009 - 2011.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On April
18, 2005, the Company signed a lease for new offices in Qadima, (Israel). The
lease is for a period of five years commencing on November 1, 2005. The Company
has an option to extend the lease period for an additional five years on similar
terms. According to the lease, the monthly fee is $16. The Company subleases a
portion of these leased facilities.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company's subsidiary in the USA has several leased facilities in Franklin WI,
Peachtree City, GA and Gardner, MA. The monthly fee of the facility in Franklin,
WI is $6 and the total monthly fee of all such other leased facilities is
$4.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Vuance,
Inc. also leases a facility in Rockville, Maryland for a monthly fee of $4.8
which is subleased for a monthly fee of $4.1.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SuperCom
Asia Pacific leases a facility in Hong Kong for a monthly fee of
$4.3.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Future
minimum lease commitments under non-cancelable operating leases (including the
portion leased to subsidiary lessees as describe above) for the years ended
December 31, are as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div align="left">
        <div align="left">
          <div align="left">
            <div style="MARGIN-LEFT: 90pt" align="left">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                    <table cellpadding="0" cellspacing="0" width="45%">
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="77%" style="PADDING-LEFT: 0pt">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div>
                          </td>
                          <td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="17%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">464</font></td>
                          <td align="left" nowrap valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="77%" style="PADDING-LEFT: 0pt">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div>
                          </td>
                          <td align="left" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="17%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">267</font></td>
                          <td align="left" nowrap valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="77%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2011</font></div>
                          </td>
                          <td align="left" valign="bottom" width="2%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="17%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">39</font></td>
                          <td align="left" nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td valign="bottom" width="77%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="17%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td valign="bottom" width="77%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td align="left" valign="bottom" width="2%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="17%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">770</font></td>
                          <td align="left" nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                    </table>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Rent
expenses for the years ended December 31, 2006, 2007 and 2008, were
approximately $355, $376 and $440, respectively.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Guarantees,
      indemnity and liens:</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Company issued bank guarantees in the amount of $48 to secure a certain
      lease of the Company. As a condition of these guarantees, the Company
      deposited $49, which is included as part of the restricted cash
      deposits.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Company issued a bank guarantee in the amount of $1,487 to a supplier,
      related to a certain project of the Company with a European country. As a
      condition of this guarantee, the Company deposited $1,492, which is
      included as part of the restricted cash
  deposits.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Under
      the sale agreement of the e-ID Division to OTI, the Company agreed to
      indemnify OTI for any breaches of the Company&#8217;s representations,
      warranties, covenants and obligations for twelve months from the closing
      date (December 31, 2006).&#160;&#160;The indemnification also covers any
      claim based on the Company&#8217;s alleged infringement on the intellectual
      property of any third party. As of the date of the approval of these
      financial statements there was no claim for breach from the
      OTI.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
      order to secure the line of credit from Bridge Bank, the Bank received a
      first position security interest in all of Vuance Inc's current and future
      assets, including intellectual property and general intangibles. See also
      Note 9a above.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Company pledged $534 to the Company's major convertible bond holder, which
      amount is presented in restricted cash. As of December 31, 2008, the
      principal amount of this convertible bond is
  $2,500.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
      order to secure an agreement with a customer, the Company provided bank
      guarantees in the amount $75. As a condition of this guarantee, the
      Company deposited $75 in the bank, which is included as part of restricted
      cash.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">128</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      11:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">COMMITMENTS
      AND CONTINGENT LIABILITIES (Cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">c.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Litigation:</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
      April 2004, the Department for Resources Supply of the Ministry of Ukraine
      (the "Department") filed a claim with the International Commercial
      Arbitration Court at the Ukrainian Chamber of Commerce and Industry (the
      &#8220;Arbitration Court&#8221;) to declare Contract No. 10/82 (the &#8220;Contract&#8221;), dated
      April 9, 2002, between the Company and the Ministry of Internal Affairs of
      the Ukraine (the "Ministry"), as void due to defects in the proceedings by
      which the Company was awarded the Contract.&#160;&#160;In July, 2004, the
      Arbitration Court declared the Contract as void.&#160;&#160;On April 27,
      2005, the Company appealed the decision to the High Commercial Court of
      the Ukraine.&#160;&#160;In May 2005, the Department filed a new statement
      of claim with the Arbitration Court for restitution of $1,048 paid to the
      Company by the Department under the Contract.&#160;&#160;On September 27,
      2005, the Company received a negative award issued by the Arbitration
      Court in the second claim (the "Award").&#160;&#160;On December 12, 2005,
      the Company was informed that the Ukrainian Supreme Court had dismissed
      its appeal regarding the July 2004 decision. On June 29, 2006, the
      Ukrainian Supreme Court held that the Arbitration Court award was valid
      and legal under applicable
law.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
September 28, 2008 the Department filed a petition (the "Petition") in the
Central District Court of Israel (the "Court"), under which the Department
requested the approval of the Award as a valid foreign arbitral award under the
laws of the State of Israel.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
November 2008, the Company filed with the Court an objection to the Petition and
a petition to declare the Award null and void. The Company's objection and
petition rely on what the Company believes to be well-based evidence which the
Company has against the manner under which the arbitration proceedings were
conducted by the Arbitration Court and against their validness and legality. The
Company believes that the arbitration proceedings were conducted partially and
jeopardized its basic rights. The Company's claims are also corroborated by a
contrary legal opinion written in the scope arbitration decision by one of the
arbitrators ("Arbitrator").</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
February 16, 2009, the Department filed its response to the Company's claims
(the "Response"). The Department raised in its Response procedural and other
claims, including a claim that the Company filed in the Ukraine a monetary claim
which is based on the Award and the filing of such claim basically affirms the
Company&#8217;s acknowledgment that the Award is valid. On March 25, 2009 the Company
filed a response to the Department's response and a requisition to order the
Arbitrator, to testify in the scope of the Petition proceedings (the Court's
decision regarding the said request has not been given yet).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On June
6, 2009 a preliminary court session was held regarding the Petition. During the
session, the Department's counsel claimed that one of the two machines that the
Company previously supplied pursuant to the Contract (which machine is priced
higher than the amount of the Department's claim), was not supplied to the
Department and was transferred by the Company to another Ukrainian governmental
authority. It is noted that the Company has documents that evidence that,
contrary to the Department's claim, the Company supplied both of the machines
directly to the Department. The file was scheduled for an additional session on
September 23, 2009.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">129</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      11:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">COMMITMENTS
      AND CONTINGENT LIABILITIES (Cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">c.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Litigation
      (cont.):</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(cont.)</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Based on
the opinion of its legal advisors, the Company believes that the above mentioned
Ukrainian Arbitration Court decision is incorrect, as a matter of law, that the
Ukrainian government&#8217;s claim has no merit and that the Ukrainian Arbitration
Proceedings were legally defective.&#160;&#160;The Company, based on its legal
counsels, further believes that there is a good chance that the Petition will be
denied. Therefore no provision has been made in the financial statements in
respect of the claim for restitution of $1,048.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company did not have any revenues from this project in 2006, 2007 and
2008.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      October 30, 2003, SuperCom Slovakia, a subsidiary (66%) of Vuance Ltd.,
      received an award from the International Arbitral Center of the Austrian
      Federal Economic Chamber, in a case against the Ministry of Interior of
      the Slovak Republic (&#8220;the Ministry&#8221;) relating to the Agreement on Delivery
      of Technology, Cooperation and Services signed on March 17,
      1998.&#160;&#160;Upon the Arbitral Award, the Ministry of Interior of the
      Slovak Republic was ordered to pay SuperCom Slovakia the amount of SKK
      80,000,000 (approximately $3,758 as of December 31, 2008) plus interest
      accruing from March 1999. In addition, the Ministry of Interior of the
      Slovak Republic was ordered to pay the costs of arbitration in the amount
      of EUR 42,716 (approximately $60 as of December 31, 2008) and SuperCom
      Slovakia&#8217;s legal fees in the amount of EUR 63,611 (approximately $89 as of
      December 31, 2008).&#160;&#160;The Company has begun an enforcement
      proceeding to collect the arbitral awards.&#160;&#160;The Ministry of
      Interior of the Slovak Republic filed a claim with the Commercial Court in
      Vienna, Austria on February 10, 2004, whereby it challenged and requested
      to set aside the arbitral award.&#160;&#160;During September 2005, the
      Commercial Court of Vienna dismissed the claim.&#160;&#160;On October 21,
      2005, the Ministry of the Interior of the Slovak Republic filed an
      appeal.&#160;&#160;On August 25, 2006, the Austrian Appellate Court
      rejected the appeal and ordered the Ministry to reimburse Supercom
      Slovakia&#180;s costs of the appellate proceeding in the amount of EUR 6,688
      within 14 days.&#160;&#160;On October 3, 2006, the Company was informed
      that the Ministry had decided not to file an extraordinary appeal to the
      Austrian Supreme Court&#8217;s decision rejecting its appeal. To date, the
      Company&#8217;s efforts to enforce the Commercial Court&#8217;s decision have been
      unsuccessful.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">130</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      11:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">COMMITMENTS
      AND CONTINGENT LIABILITIES (Cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">c.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Litigation
      (cont.):</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      December 16, 1999, Secu-Systems Ltd. filed a lawsuit with the District
      Court in Tel-Aviv-Jaffa jointly and severally against the Company and its
      former subsidiary, InkSure Ltd. (&#8220;InkSure&#8221;), seeking a permanent
      injunction and damages arising from the printing method applied to certain
      products developed by InkSure. In its lawsuit, Secu-Systems asserted
      claims of breach of a confidentiality agreement between Secu-Systems and
      the Company, unjust enrichment of the Company and InkSure, breach of
      fiduciary duties owed to Secu-Systems by the Company and InkSure and
      misappropriation of trade secrets and damage to Secu-Systems&#8217;
      property.&#160;&#160;On March 15, 2006, the Court denied the breach of
      contract claim, but upheld the claim for misappropriation of trade secrets
      and ordered InkSure and the Company to cease all activity involving the
      use of the confidential knowledge and/or confidential information of
      Secu-Systems. In addition, the court ordered the Company and Inksure to
      provide a report certified by an accountant setting forth in full the
      income and/or benefit received by InkSure and the Company as a result of
      the infringing activity through the date of the judgment, and ordered the
      Company and Inksure, jointly and severally, to pay to Secu-Systems
      compensation in the sum of NIS 100,000 ($26 as of December 31, 2008) and
      legal expenses as well as attorney&#8217;s fees in the sum of NIS 30,000 ($8 as
      of December 31, 2008) (which was paid during 2006). Secu-Systems has filed
      an appeal, and the Company and InkSure filed a counter-appeal, on the
      above ruling.&#160;&#160;&#160;On November 1, 2007, the Supreme Court
      accepted Secu-Systems' appeal and stated that Inksure and the Company have
      breached the confidentiality agreement. Consequently, the appeal that had
      been filed by Inksure and the Company was dismissed. The Supreme Court
      instructed that the case be returned to the District Court for determining
      the remedies to which Secu-Systems is
entitled.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
February 18, 2008, Secu-System filed a petition with the District Court asking
that the court allow Secu-System to amend the amount for which it sued as stated
in the Statement of Claims to NIS 25,000,000 (approximately $6,575 as of
December 31, 2008). The petition is mainly based on the fact that in 2002,
Inksure was sold by the Company to a third party for a consideration of
approximately $6,000 and upon Secu-System's assertion that such amount of
consideration constitutes a benefit and/or profit which seems to have been
derived from the breach of the confidentiality agreement and upon the assertion
that Secu-System is entitled, in light of the Supreme Court's ruling with
respect to the breach of the confidentiality agreement, to receive such amount.
Another argument made by Secu-System relates to the profit which Inksure
allegedly generated from the breach of the confidentiality agreement; this
argument is based on an aggregate gross profit of $6,400 according to the
financial statements of Inksure for the years 2002-2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On March
24, 2008, the Company provided its lawyers with an opinion of a consultant on
the subject matter, whereby the following conclusions can be drawn:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
      light of the cost analysis, the Company had no economic profit from the
      sale of Inksure's shares.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      examination of the results of Inksure's business activity in 2002-2007, as
      reflected in its financial reports, shows that Inksure has not made any
      profits, and even suffered losses in the said period. The financial
      reports also show that Inksure had a negative cash flow in these years,
      which was financed by bank loans and fund
  raising.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
December 8, 2008, a court session with respect to the petition was held and the
Company is waiting for the court decision.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">131</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      11:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">COMMITMENTS
      AND CONTINGENT LIABILITIES (Cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">c.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Litigation
      (cont.):</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(cont.)</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In light
of the above, provided that the consultant's opinion on the subject matter is
adopted by the court, and provided further that Inksure's financial reports
indeed reflect its business results, the Company's lawyers are of the opinion
that no material amounts will be awarded to Secu-System in these
proceedings.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Due to
the circumstances described above, the Company made an allowance of $100, in
2007 that reflects the expected legal expenses related to this
litigation.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      May 1, 2006, Evilia Investments Ltd. (&#8220;Evilia&#8221;) filed a claim in the Tel
      Aviv- Jaffa Magistrate&#8217;s Court for damages against InkSure Ltd. and
      against the Company, jointly and severally, for payment of NIS 2,366,868
      (as of June 15, 2006, approximately $530) plus interest allegedly due as
      rent payments and related management fees for a certain real estate
      property in Rehovot, leased to InkSure under a lease agreement entered
      into between Evilia and InkSure on October 10, 2000, as amended on May 25,
      2001 (the &#8220;Agreement&#8221;), in respect of which the Company was a
      guarantor.&#160;&#160;A motion for leave to defend the lawsuit was filed
      with the Court by both InkSure and the Company on June 15, 2006. On August
      6, 2006, a settlement agreement was submitted to the Court, pursuant to
      which InkSure agreed to pay Evilia the amount of $130 plus
      VAT.&#160;&#160;On August 13, 2006, the Court approved the settlement
      agreement.&#160;&#160;The Company agreed to pay (and paid) InkSure half of
      the settlement amount.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      January 20, 2008, the Manufacturers Association of Israel (the
      "Plaintiff") filed a lawsuit with the labor court in Tel Aviv-Jaffa (the
      "Court") against Vuance Ltd. ("the Company"), seeking an amount of NIS
      82,789 + VAT (as of June 20, 2008 approximately $26 + VAT) for service
      fees for the years 2001-2007 as well as legal expenses and attorney<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">'</font>s fees of
      the Plaintiff. In addition, the Plaintiff has asked the Court to instruct
      the Company to submit the necessary documentation, certified by the
      Company<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">'</font>s
      accountant, needed to calculate the service fees sought by the Plaintiff.
      During 2008, the Company and the Plaintiff reached a settlement whereby
      the Company will pay $8, as compromise which amount was included in the
      2008 financial statements.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Regarding
      a breach of certain convertible bonds covenants, see Note
    13.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">d.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
      a certain transaction, the Company is obligated to pay a certain
      percentage of the revenues to third
parties.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">e.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Company&#160;is obligated, under certain contracts with one of our
      manufacturers, to purchase certain frame orders from such manufacturer,
      with no specific time
requirements.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      12:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">TAXES
      ON INCOME</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Measurement
      of results of operations for tax purposes under the Israeli Income Tax Law
      (Inflationary Adjustments),
1985.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Until
December 31, 2007, the results of operations for tax purposes were measured in
terms of earnings in NIS after adjustments for changes in Israel's Consumer
Price Index ("CPI"). Commencing January 1, 2008, this law is void and in its
place there are transition provisions, whereby the results of operations for tax
purposes are to be measured on a nominal basis. As explained in Note 2b, the
financial statements are measured in U.S. dollars. The difference between the
annual change in Israel's CPI and in the NIS/dollar exchange rate causes a
further difference between taxable income and income before taxes shown in the
financial statements. In accordance with paragraph 9(f) of SFAS No. 109, the
Company has not provided for deferred income taxes on the above difference
between the functional currency and the tax bases of assets and
liabilities.</font></div>
    </div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">132</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      12:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">TAXES
      ON INCOME (cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Reduction
      in corporate tax rates:</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On July
25, 2005, the Israeli Parliament passed an amendment to the Income Tax Ordinance
(No. 147) - 2005, gradually reducing the tax rate applicable to the
Company&#160;&#160;as follows: in 2006 - 31%, in 2007 - 29%, in 2008 - 27%, in
2009 - 26% and in 2010 and thereafter - 25%.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">c.</font></font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Non-Israeli
      subsidiaries:</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Non-Israeli
subsidiaries are taxed according to the tax laws of the countries in which they
are located.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
            </td>
            <td align="right" style="WIDTH: 36pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">d.&#160;</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Deferred
      income taxes:</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Deferred
income taxes reflect the net tax effects of temporary differences between the
carrying amounts of assets and liabilities for financial reporting purposes and
the amounts used for income tax purposes. Significant components of the deferred
tax assets of the Company and its subsidiaries are as
follows:</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div align="left">
        <div align="center">
          <div style="MARGIN-LEFT: 90pt" align="left">
            <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">
              <div style="MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">
                <table cellpadding="0" cellspacing="0" width="77%" style="TEXT-ALIGN: left">
                    <tr style="TEXT-ALIGN: left;">
                      <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="6" nowrap valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31,</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Tax
      Benefits:</font></div>
                      </td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating
      loss carryforward</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7,951</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10,106</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Reserves
      and allowances</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,125</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(*)</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">921</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      deferred tax asset before valuation allowance</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10,076</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11,027</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Valuation
      allowance</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(10,076</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(11,027</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 4px">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      deferred tax asset</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred
      income taxes consist of the following:</font></div>
                      </td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                        <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Domestic</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7,040</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6,760</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                        <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Valuation
      allowance</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(7,040</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(6,760</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt">
                        <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Foreign</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,036</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,267</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                        <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Valuation
      allowance</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3,036</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(4,267</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td valign="bottom" width="76%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                </table>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(*)</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Includes
      an amount of $1,197 related to fair value adjustment of marketable
      securities (which were sold during 2008.) See also "e"
    below.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of
December 31, 2008, the Company and its subsidiaries have provided valuation
allowances of $11,027 in respect of deferred tax assets resulting from tax loss
carryforwards and other temporary differences. Management currently believes
that since the Company and its subsidiaries have a history of losses, the
deferred tax assets are not considered more likely than not to be realized in
the foreseeable future.</font></div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">e.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Net
      operating loss carryforwards and loss on marketable
      securities:</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Vuance
Ltd. has accumulated losses for tax purposes as of December 31, 2008, in an
amount of approximately $23,466, which may be carried forward and offset against
taxable income in the future for an indefinite period. Vuance<font style="DISPLAY: inline">&#160;</font>Ltd. also has a loss on marketable
securities in an amount of $11,261 which may be carried forward and offset
against gains on marketable securities and capital gains for an indefinite
period. Vuance<font style="DISPLAY: inline">&#160;</font>Ltd. also has a capital
loss in an amount of $888 which may be carried forward and offset against
capital gains for an indefinite period.</font></div>
    </div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">133</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      12:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">TAXES
      ON INCOME (cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">e.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Net
      operating loss carryforwards and loss on marketable securities
      (cont.):</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of
December 31, 2008, Vuance's subsidiaries in the United States and Hong Kong have
estimated total available carryforward tax losses of $12,011 and $&#160;893,
respectively. In Hong-Kong tax losses are available to offset against taxable
income, if any, for an indefinite period. In the U.S., tax losses can be carried
forward for 20 years. However, utilization of U.S. net operating losses may be
subject to a substantial annual limitation due to the "change in ownership"
provisions of the Internal Revenue Code of 1986 and similar state provisions.
These annual limitations may result in the expiration of net operating losses
before utilization. An amount of $3,413 of the carryforward tax losses of the
Company's subsidiary in the U.S, is subject to such limitation, due to the SHC
acquisition.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">f.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Vuance
      Ltd has received final assessments until the tax year ended December 31,
      2002.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Vuance&#8217;s
subsidiaries in the United States and Israel have not received final assessments
since their incorporation.</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Vuance&#8217;s
subsidiary in Hong-Kong has an assessment that is considered to be final until
the tax year ended December 31, 2000.</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">g.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Net
      income (loss) before taxes on income consists of the
      following:</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div align="center">
        <div align="center">
          <div align="center">
            <div align="center">
              <div align="left">
                <div align="center">
                  <div align="center">
                    <div style="MARGIN-LEFT: 90pt" align="left">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">
                        <div style="MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">
                          <table cellpadding="0" cellspacing="0" width="78%" style="TEXT-ALIGN: left">
                              <tr style="TEXT-ALIGN: left;">
                                <td valign="bottom" width="64%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td colspan="10" nowrap valign="bottom" width="34%" style="BORDER-BOTTOM: black 2px solid">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year&#160;ended&#160;December&#160;31,</font></div>
                                </td>
                                <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              </tr>
                              <tr>
                                <td valign="bottom" width="64%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2006</font></div>
                                </td>
                                <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                                </td>
                                <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                                </td>
                                <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              </tr>
                              <tr>
                                <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              </tr>
                              <tr bgcolor="#ccffcc">
                                <td align="left" valign="bottom" width="64%">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Domestic</font></div>
                                </td>
                                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6,396</font></td>
                                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(8,173</font></td>
                                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(4,854</font></td>
                                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                              </tr>
                              <tr bgcolor="white">
                                <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Foreign</font></div>
                                </td>
                                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(810</font></td>
                                <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2,748</font></td>
                                <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(7,095</font></td>
                                <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                              </tr>
                              <tr bgcolor="#ccffcc">
                                <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                              </tr>
                              <tr bgcolor="white">
                                <td valign="bottom" width="64%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                                <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,586</font></td>
                                <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                                <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(10,921</font></td>
                                <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                                <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(11,949</font></td>
                                <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                              </tr>
                          </table>
                        </div>
                      </div>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">h.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Reconciliation
      of the theoretical tax expense (benefit) to the actual tax expense
      (benefit):</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A
reconciliation of theoretical tax expense, assuming all income is taxed at the
statutory rate applicable to the income of companies in Israel, and the actual
tax expense, is as follows:</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div align="center">
        <div align="center">
          <div align="left">
            <div align="center">
              <div style="MARGIN-LEFT: 90pt" align="left">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">
                  <table cellpadding="0" cellspacing="0" width="82%" style="TEXT-ALIGN: left">
                      <tr style="TEXT-ALIGN: left;">
                        <td valign="bottom" width="64%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td colspan="10" nowrap valign="bottom" width="34%" style="BORDER-BOTTOM: black 2px solid">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year&#160;ended&#160;December&#160;31,</font></div>
                        </td>
                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      </tr>
                      <tr>
                        <td valign="bottom" width="64%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2006</font></div>
                        </td>
                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                        </td>
                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                        </td>
                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      </tr>
                      <tr bgcolor="#ccffcc">
                        <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 4px">
                          <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      income (loss) before taxes on income, as reported in the consolidated
      statements of operations</font></div>
                        </td>
                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,586</font></td>
                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(10,921</font></td>
                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(
      11,949</font></td>
                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      </tr>
                      <tr bgcolor="white">
                        <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      </tr>
                      <tr bgcolor="#ccffcc">
                        <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 4px">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Statutory
      tax rate in Israel</font></div>
                        </td>
                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">31</font></td>
                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></td>
                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">29</font></td>
                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></td>
                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">27</font></td>
                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></td>
                      </tr>
                      <tr bgcolor="white">
                        <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      </tr>
                      <tr bgcolor="#ccffcc">
                        <td align="left" valign="bottom" width="64%">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Theoretical
      tax expenses (benefit)</font></div>
                        </td>
                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,732</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3,167</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(
      3,226</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      </tr>
                      <tr bgcolor="white">
                        <td align="left" valign="bottom" width="64%">
                          <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Carryforward
      losses and other deferred taxes for which a full valuation allowance was
      recorded</font></div>
                        </td>
                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">384</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,170</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,676</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      </tr>
                      <tr bgcolor="#ccffcc">
                        <td align="left" valign="bottom" width="64%">
                          <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Decrease
      in taxes resulting from utilization of carryforward tax losses for which
      deferred taxes were not created in the past</font></div>
                        </td>
                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2,402</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      </tr>
                      <tr bgcolor="white">
                        <td align="left" valign="bottom" width="64%">
                          <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Tax
      expenses related to withholding tax at source</font></div>
                        </td>
                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">146</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">353</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">137</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      </tr>
                      <tr bgcolor="#ccffcc">
                        <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px">
                          <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Differences
      in taxes resulting from rate applicable to foreign subsidiary and
      others</font></div>
                        </td>
                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">286</font></td>
                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">34</font></td>
                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(450</font></td>
                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      </tr>
                      <tr bgcolor="white">
                        <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 4px">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Actual
      income tax (*)</font></div>
                        </td>
                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">146</font></td>
                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">390</font></td>
                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                        <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">137</font></td>
                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      </tr>
                  </table>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(*)&#160;&#160;&#160;&#160;&#160;&#160;&#160;Reclassified
(See Note 2y).</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">134</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 54pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      13:-</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CONVERTIBLE
      BONDS</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
November 2006, the Company raised $3,156.5 through the issuance of Units
consisting of Convertible Bonds and Warrants. Units valued at $2,500 were issued
to a single investor, and Units valued at $656.5 were issued to Special
Situation Funds (SSF), based on the participation rights provided in a private
placement during 2005, which were existing shareholders of the Company.
According to their original terms the Convertible Bonds mature three years from
the date of issuance and bear interest at an annual rate of 8% (which was
updated as described below). Any withholding and other taxes payable with
respect to the interest will be grossed up and paid by the Company
(approximately 3% of the principal of the bonds), payment of interest will be
net of any tax. Subject to certain redemption provisions, as described below,
the Convertible Bonds may be converted at any time, at the option of the
investors, into the Company's ordinary shares at a conversion price of $5 per
share (see amendment below). The investors were also granted Warrants entitling
them to acquire a total of 134,154 ordinary shares at an exercise price of $5
per share during the next five years. In respect of this transaction, the
Company paid approximately $215 cash as issuance expenses and granted an option
to acquire up to 25,000 shares of the Company to a third party, exercisable at
$5 per share. The fair market value of this grant was $ 40.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 446pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If the
Company fails to fulfill certain conditions, the investors may accelerate
repayment of the principal amount of $3,156.5 of the Convertible Bonds, in which
case all interest payable until Maturity Date will immediately become due and
payable.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 446pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company has considered the provisions of EITF Issue No.00-19, &#8220;The Accounting
for Derivative Financial Instruments Indexed to, and Potentially Settled in, a
Company&#8217;s Own Stock&#8221;, and determined that the embedded conversion feature should
not be separated from the host instrument because it is qualified for equity
classification in paragraphs 12-32 of EITF Issue No.00-19. Therefore the
transaction was accounted for in accordance with EITF 00-27, "Application of
Issue No. 98-5 to Certain Convertible Instruments" and APB 14, "Accounting for
Convertible Debt and Debt Issued with Stock Purchase Warrants". The fair market
value of the Warrants was&#160;determined based on the fair value of the
instruments issued using the Black-Scholes pricing model, assuming a risk free
rate of 5%, a volatility factor of 78.21%, dividend yields of 0% and an expected
life of 2 years. The&#160;expiration date of the Warrants is November
2011.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 446pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As a
result, the Company recorded in 2006 an amount of $282 in respect of the
Warrants and an amount of $632 as beneficial conversion feature in respect of
the Convertible Bonds, as a credit to shareholders' equity (additional paid in
capital). The discount of the bonds as a result of the value assigned to the
warrants and the beneficial conversion feature is amortized during the
contractual term of the bonds.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 446pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
November 2007, due to a breach of certain conditions of the convertible bonds,
the investors had the right to accelerate the repayment of the principal amount
of the bonds with all the interest payable until the maturity date of the bonds.
However, the Company signed an amendment to the agreement with the investors
under which the Company was required to pay to one of the investors the
abovementioned interest amount ($276) (with any withholding and other taxes
payable with respect to the interest (approximately 3% of the principal of the
bonds)) and in respect of the other investors the Company changed the conversion
ratio of the bonds to $4.25. In a consideration the investors waived their right
to accelerate the repayment of the bonds. The Company accounted for the
amendment as a modification of the bonds (based on the provisions of EITF 06-06
(The Company accounted for the amendment as a modification of the
Bonds.)</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">135</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 54pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      13:-&#160;</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CONVERTIBLE
      BONDS (Cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In June
2008, following a breach of the amended terms of the convertible bonds, the
Company reached an agreement with one of the investors (with a principal amount
of $2,500), under which, among other things, the investor waived the Company's
compliance with certain covenants under its Convertible Bonds, in exchange
for:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a.</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Increasing
      the interest rate to 10% starting March 31, 2008. Any withholding and
      other taxes payable with respect to the interest will be grossed up and
      paid by the Company (approximately 3% of the principal of the
      bonds).</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b.</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Reducing
      the exercise price of the bond and the warrants to $3 and $2.8,
      respectively.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">c.</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Company undertakes to place a fixed charge on all income and/or rights in
      connection with a certain European Airport Project. This charge shall be
      senior to any indebtedness and/or other pledge and encumbrance, but shall,
      however, be subject to certain rights of the Company to use part of the
      income.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">d.</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Certain
      anti-dilution rights with respect to the warrants held by the single
      investor.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
addition, under certain circumstances the investor might have the right to
demand an early payment of partial or full amount of the Convertible Bonds (up
to the $2,500 as mentioned above). The Company accounted for the amendment as an
extinguishment of the Bonds.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 446pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Due to
the breach of certain convertible bonds covenants, the Company had to recognize,
in 2008, financial expenses in the amount of $553, to accelerate deferred
expenses in the amount of $138 and to accelerate the remaining discount amounts
(attributed to warrants and beneficial feature) in the amount of $724. In
addition the Convertible Bond was classified as a current liability</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 446pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">There
were no amendments signed with SSF since November 2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 446pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of
December 31, 2008, the Company is not in compliance with certain covenants under
the Convertible Bonds Agreements, therefore the convertible bonds holders, could
seek to accelerate of unpaid principal, penalties and interest.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 446pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company is currently negotiating with the major holder about optional remedies
to the violation.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 54pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      14:-</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SHARE
      CAPITAL</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Company&#8217;s ordinary shares have been listed for trade on the Euronext
      Brussels stock market, under the symbol &#8220;SUP&#8221;, (since October 23, 2003)
      which became &#8220;VUNC&#8221; after the Company's name change on May 14, 2007. The
      Company applied for delisting of its shares from the Euronext Brussels
      stock market, and its application was approved on May 6, 2008, effective
      August 4, 2008. Since November 5, 2004, the Company&#8217;s ordinary shares have
      also traded on the OTC&#160;Bulletin Board under the symbol "SPCBF.OB"
      which, following the recent name change of the Company became &#8220;VUNCF.OB&#8221;.
      Since August 23, 2007, the ordinary shares of the Company were approved
      for trade on the NASDAQ Capital Market under the symbol &#8220;VUNC&#8221; and trading
      on the OTC Bulletin Board
ceased.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
December 11, 2008, the Company received a letter from the NASDAQ Capital Market
advising the Company that it did not comply with the Listing
Requirements.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">136</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 54pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      14:-</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SHARE
      CAPITAL</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(cont.)</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As a
result, the NASDAQ Capital Market Staff began reviewing the Company&#8217;s
eligibility for continued listing on the NASDAQ Capital Market. To facilitate
their review, the NASDAQ Capital Market Staff requested that the Company provide
on or before December 26, 2008, the Plan.&#160;&#160;After the Company submitted
the Plan, on March 30, 2009 the Company received further correspondence from
Nasdaq that it did not comply with the Listing Requirements, and therefore,
trading of the Company&#8217;s ordinary shares would be suspended at the opening of
business on April 8, 2009, and a form 25-NSE would be filed with the SEC
removing the Company&#8217;s securities from listing and registration on The Nasdaq
Capital Market, unless the Company requested an appeal of the delisting decision
by Nasdaq.&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company appealed the Nasdaq determination to the Panel, which automatically
stayed the delisting of the Company&#8217;s ordinary shares until the Panel reached a
decision.&#160; On June 17, 2009, the Panel granted the Company&#8217;s request for an
extension of time to achieve full compliance with the Listing
Requirements.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Panel&#8217;s decision, and the Company&#8217;s continued listing on the NASDAQ Capital
Market, is subject to the Company&#8217;s compliance with certain conditions,
including demonstration by the Company that it has regained compliance with the
Listing Requirements by September 28, 2009. While the Company is executing on
its plan to regain compliance, there can be no assurance that the Company will
be able to do so.&#160;&#160;Should the Company be unable to meet the exception
requirement, the Panel will issue a final determination to delist the Company&#8217;s
shares and, unless the Nasdaq Listing and Hearings Review Council issues a stay,
will suspend trading of the Company&#8217;s shares on the NASDAQ Capital Market
effective on the second business day from the date of the final determination
and our ordinary shares could be eligible for quotation and trading on the OTC
Bulletin Board in accordance with applicable rules and regulations.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On May,
14 2007 a 1 for 5.88235 reverse split of the Company&#8217;s ordinary shares became
effective for trading purpose. Pursuant to this reverse share split, each
5.88235 ordinary shares of NIS 0.01 par value became 1 ordinary share of NIS
0.0588235 par value. Unless otherwise noted, all share and per share amounts for
all periods presented (including numbers of options, warrants and convertible
bonds) have been retroactively restated to give effect to this reverse
split.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
      2007, the Company increased its authorized share capital to 12,000,000
      ordinary shares.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">c.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
      2008, 104,513 ordinary shares were issued as a consideration to settle
      liabilities to an officer and other payables in an aggregate amount of
      $247 and 3,550 ordinary shares were issued due to the 2007 reverse
      split.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
            </td>
            <td align="right" style="WIDTH: 36pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">d.</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Shareholders'
      rights:</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
ordinary shares confer upon the holders the right to receive notice to
participate and vote in the general meetings of the Company, and the right to
receive dividends, if declared.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">137</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 54pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      14:-</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SHARE
      CAPITAL (Cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">e.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Stock
      options:</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      February 14, 1999, the Board of Directors adopted, and the Company&#8217;s
      shareholders subsequently approved, the 1999 Employee Stock Option Plan,
      which was amended and restated in March 2002 (the &#8220;1999 Option
      Plan&#8221;).&#160;&#160;The Company no longer uses the 1999 Option Plan. In
      2003, the Company adopted a new stock option plan under which the Company
      issues stock options (the &#8220;Option Plan&#8221;). The Option Plan is intended to
      provide incentives to the Company&#8217;s employees, officers, directors and/or
      consultants by providing them with the opportunity to purchase ordinary
      shares of the Company. The Option Plan is, subject to the provisions of
      the Israeli Companies Law, administered by the Compensation Committee, and
      is designed: (i) to comply with Section 102 of the Israeli Tax Ordinance
      or any provision which may amend or replace it and the rules promulgated
      thereunder and to enable the Company and grantees thereunder to benefit
      from Section 102 of the Israeli Tax Ordinance and the Commissioner&#8217;s
      Rules; and (ii) to enable the Company to grant options and issue shares
      outside the context of Section 102 of the Israeli Tax Ordinance. Options
      granted under the Option Plan will become exercisable ratably over a
      period of three to five years or immediately in certain circumstances,
      commencing with the date of grant. The options generally expire no later
      than 10 years from the date of grant. Any options which are forfeited or
      canceled before expiration become available for future
    grants.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As a
result of an amendment to Section 102 of the Israeli Tax Ordinance as part of
the 2003 Israeli tax reform, and pursuant to an election made by the Company
thereunder, capital gains derived by optionees arising from the sale of shares
issued pursuant to the exercise of options granted to them under Section 102
after January 1, 2003, will generally be subject to a flat capital gains tax
rate of 25%.&#160;&#160;Previously, such gains were taxed as salary income at
the employee&#8217;s marginal tax rate (which could be up to 50%).&#160;&#160;However,
as a result of this election, the Company will no longer be allowed to claim as
an expense for tax purposes the amounts credited to such employees as a benefit
when the related capital gains tax is payable by them, as the Company had
previously been entitled to do under Section 102.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On June
27, 2007,&#160;the Compensation Committee and&#160;board of directors of the
Company approved a new option plan under which the Company may grant stock
options to the U.S. employees of the Company&#160;and its subsidiaries. Under
this new option plan, the Company may grant both qualified (for preferential tax
treatment) and non-qualified stock options. On August 15, 2007 the new option
plan was approved by the shareholders of the Company at the general shareholders
meeting.&#160;As of December 31, 2008, 3,913,660 ordinary shares are available
for future grants of options, warrants, shares and other financial
instruments.</font></div>
    </div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">138</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 54pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      14:-</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SHARE
      CAPITAL (Cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">e.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Stock
      options (cont.):</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      May 30, 2006, the Board of Directors approved a grant of options to
      acquire up to 93,501 ordinary shares to certain employees and officers.
      The exercise price of these options is $ 4.42 per
  share.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
2007, the Board of Directors approved grants of options as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="MARGIN-LEFT: 153pt" align="left">
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="center">
          <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="center">
            <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="center">
              <table cellpadding="0" cellspacing="0" width="35%" style="TEXT-ALIGN: left">
                  <tr style="TEXT-ALIGN: left;">
                    <td valign="bottom" width="48%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number&#160;of</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">options</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">granted</font></div>
                    </td>
                    <td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="48%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercise</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">price</font></div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" width="48%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="48%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="right" valign="bottom" width="48%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">37,400</font></div>
                    </td>
                    <td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="48%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.412</font></div>
                    </td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="right" valign="bottom" width="48%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">71,500</font></div>
                    </td>
                    <td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="48%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.100</font></div>
                    </td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="right" valign="bottom" width="48%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">21,000</font></div>
                    </td>
                    <td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="48%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.900</font></div>
                    </td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="right" valign="bottom" width="48%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">62,333</font></div>
                    </td>
                    <td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="48%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.014</font></div>
                    </td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="right" valign="bottom" width="48%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">47,372</font></div>
                    </td>
                    <td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="48%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.058</font></div>
                    </td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="right" valign="bottom" width="48%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,500</font></div>
                    </td>
                    <td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="48%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.850</font></div>
                    </td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="right" valign="bottom" width="48%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">141,500</font></div>
                    </td>
                    <td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="48%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.640</font></div>
                    </td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="right" valign="bottom" width="48%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">34,000</font></div>
                    </td>
                    <td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="48%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.120</font></div>
                    </td>
                  </tr>
              </table>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">An
additional 217,600 options were granted during 2007 to related parties including
directors. See Note 15e.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
2008, the Board of Directors approved grants of options as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="MARGIN-LEFT: 153pt" align="left">
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="center">
          <table cellpadding="0" cellspacing="0" width="35%" style="TEXT-ALIGN: left">
              <tr style="TEXT-ALIGN: left;">
                <td valign="bottom" width="48%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number&#160;of</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">options</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">granted</font></div>
                </td>
                <td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="bottom" width="48%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercise</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">price</font></div>
                </td>
              </tr>
              <tr>
                <td valign="bottom" width="48%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="bottom" width="48%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="right" valign="bottom" width="48%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,000</font></div>
                </td>
                <td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="bottom" width="48%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.38</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td align="right" valign="bottom" width="48%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">43,000</font></div>
                </td>
                <td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="bottom" width="48%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.88</font></div>
                </td>
              </tr>
          </table>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
September 2008, the Board of Directors approved a re-pricing of options for 3
executive officers for a total of 149,600 options, which had exercise prices
ranging between $2.47 and $14.8235.&#160;&#160;The re-pricing changed the
exercise price of the options to $1.86. The incremental compensation cost at the
date of the modification was $66 of which $59 was recognized during
2008.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
December 2008 the Special General Meeting approved the re-pricing and the
extension (if applicable) of 354,617 options held by related parties. See Notes
15a, 15b and 15e. The incremental compensation cost at the date of the
modification amounted to $44 and was recognized as expense since all the options
were fully vested.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For
option grants after the balance sheet, see also Note 19.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">139</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 54pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      14:-</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SHARE
      CAPITAL (Cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">e.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Stock
      options (cont.):</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A
      summary of the Company's stock option activity and related information is
      as follows:</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div align="left">
        <div align="center">
          <div style="MARGIN-LEFT: 54pt" align="left">
            <table cellpadding="0" cellspacing="0" width="88%">
                <tr>
                  <td valign="bottom" width="34%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="22" nowrap valign="bottom" width="64%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Year&#160;ended&#160;December&#160;31</font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr>
                  <td valign="bottom" width="34%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="6" nowrap valign="bottom" width="20%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">2006</font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="6" nowrap valign="bottom" width="20%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">2007</font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="6" nowrap valign="bottom" width="20%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">2008</font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr>
                  <td valign="bottom" width="34%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Number&#160;of</font></div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">options</font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Weighted</font></div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">average</font></div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">exercise</font></div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">price</font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Number&#160;of</font></div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">options</font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Weighted</font></div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">average</font></div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">exercise</font></div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">price</font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Number&#160;of</font></div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">options</font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" nowrap valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Weighted</font></div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">average</font></div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">exercise&#160;price</font></div>
                  </td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="34%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font size="+0"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Outstanding
      at beginning </font><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">of
      year</font></font></div>
                  </td>
                  <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">595,971</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">5.77</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">553,902</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">5.12</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">1,076,756</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">4.43</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="34%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Granted</font></div>
                  </td>
                  <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">93,501</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">4.42</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">638,205</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">3.86</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">45,000</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">1.95</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="34%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Exercised</font></div>
                  </td>
                  <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">(43,152</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">)</font></td>
                  <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">2.48</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">(25,968</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">)</font></td>
                  <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">3.16</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">(27,032</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">)</font></td>
                  <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">0.32</font></td>
                  <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="34%" style="PADDING-BOTTOM: 2px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Canceled
      and forfeited</font></div>
                  </td>
                  <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">(92,418</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">)</font></td>
                  <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="8%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">9.95</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">(89,383</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">)</font></td>
                  <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="8%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">5.06</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">(113,262</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">)</font></td>
                  <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="8%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">6.17</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr bgcolor="#ccffcc">
                  <td align="left" valign="bottom" width="34%" style="PADDING-BOTTOM: 4px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Outstanding
      at end of year</font></div>
                  </td>
                  <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">553,902</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">5.12</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">1,076,756</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">4.43</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">981,462</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">2.55</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">(*)</font></td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="bottom" width="34%" style="PADDING-BOTTOM: 4px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Exercisable
      at end of year</font></div>
                  </td>
                  <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">481,651</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">5.18</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">591,485</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">4.81</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">663,021</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                  <td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">2.51</font></td>
                  <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">(*)</font></td>
                </tr>
            </table>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(*)</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      weighted average exercise price, presented as of December 31, 2008, is
      after the re-pricing made during 2008, as mentioned above and in Note
      15.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
weighted average fair value of options granted during the reported periods was
$1.89, $2.87 and $0.88, per option, for the years ended December 31, 2006, 2007
and 2008, respectively.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The fair
value of these options was estimated on the date of grant using the Black &amp;
Scholes option pricing model. The following weighted average assumptions were
used for the 2006, 2007 and 2008 grants: risk-free rate of 5%, 4.05% and 4.24%,
respectively, dividend yield of 0%, expected volatility factor of 57.17%, 57.20%
and 52.29%, respectively and expected term of 3.09, 3.64 and 4 years,
respectively.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
expected volatility was based on the historical volatility of the Company&#8217;s
stock. The expected term was based on the historical experience and based on
Management estimate.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Compensation
expenses recognized by the Company related to its share-based employee
compensation awards were $ 225 $1,032 and $856 based on the provisions of SFAS
123R for the years ended December&#160;31, 2006, 2007 and 2008,
respectively.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
following table summarizes the allocation of the stock-based compensation
charge</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div align="left">
        <div align="center">
          <div style="MARGIN-LEFT: 117pt" align="left">
            <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                    <table cellpadding="0" cellspacing="0" width="74%">
                        <tr>
                          <td valign="bottom" width="64%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="10" nowrap valign="bottom" width="34%" style="BORDER-BOTTOM: black 2px solid">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year&#160;ended&#160;December&#160;31,</font></div>
                          </td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr>
                          <td valign="bottom" width="64%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2006</font></div>
                          </td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                          </td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                          </td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr>
                          <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cost
      of revenues</font></div>
                          </td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">16</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Research
      and development expenses</font></div>
                          </td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">32</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">336</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">353</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Selling
      and marketing expenses</font></div>
                          </td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">90</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">158</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">151</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">General
      and administrative expenses</font></div>
                          </td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">103</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">533</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">336</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td valign="bottom" width="64%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">225</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,032</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">856</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                    </table>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">140</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 54pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      14:-&#160;</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SHARE
      CAPITAL (Cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A
      summary of the Company's stock option activity and related information is
      as follows (cont.):</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
options outstanding and exercisable as of December 31, 2008, have been separated
into ranges of exercise prices as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div align="left">
        <div align="center">
          <div align="center">
            <div align="right">
              <div align="right">
                <table cellpadding="0" cellspacing="0" width="94%">
                    <tr>
                      <td nowrap valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Range&#160;of</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">exercise&#160;price</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Options</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">outstanding</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">as&#160;of</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">December&#160;31,</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">2008</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Weighted</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">average</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">remaining</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">contractual&#160;life</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">(years)</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Weighted</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">average</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">exercise&#160;price</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Aggregate</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">intrinsic</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">value</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Options</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">exercisable</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">as&#160;of</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">December&#160;31,</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">2008</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Weighted</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">average</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">exercise&#160;price</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Aggregate</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">intrinsic</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">value</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr>
                      <td nowrap valign="bottom" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="right" valign="bottom" width="15%">
                        <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$
      0.01 - $ 0.06</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%">
                        <div>&#160;</div>
                      </td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">86,019</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">8.56</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">0.015</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">50</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">28,673</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">0.015</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">17</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="right" valign="bottom" width="15%">
                        <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$
      1.10 - $ 1.88</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">547,217</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">5.86</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">1.37</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">424,598</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">1.33</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="right" valign="bottom" width="15%">
                        <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$
      2.47 - $ 3.38</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">35,626</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">4.54</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">3.01</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">33,626</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">2.99</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="right" valign="bottom" width="15%">
                        <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$
      4.18 - $ 4.90</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">192,400</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">7.46</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">4.52</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">98,124</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">4.41</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="right" valign="bottom" width="15%">
                        <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$
      5.00 - $ 5.24</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">103,200</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">4.85</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">5.06</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">61,000</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">5.08</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="right" valign="bottom" width="15%">
                        <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$
      14.82</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">17,000</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">3.25</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">14.82</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">17,000</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">14.82</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="right" valign="bottom" width="15%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="right" valign="bottom" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="right" valign="bottom" width="15%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">981,462</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">2.55</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">663,021</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">2.51</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                </table>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
aggregate intrinsic value of the above table represents the total intrinsic
value, based on the Company&#8217;s stock price of $0.6 as of December 31, 2008, less
the weighted average exercise price per range. This represents the potential
amount received by the option holders had all option holders exercised their
options as of that date.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The total
intrinsic value of options exercised during the years ended December 31, 2006,
2007 and 2008 was $109, $62 and $53 respectively, based on the Company&#8217;s average
stock price of $5.38, $5.57 and $2.26 during the years ended
respectively.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A summary
of the status of the Entity&#8217;s non-vested options granted to employees as of
December&#160;31, 2008 and changes during the year ended December 31, 2008 is
presented below:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div align="left">
        <div align="center">
          <div style="MARGIN-LEFT: 117pt" align="left">
            <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                    <table cellpadding="0" cellspacing="0" width="74%">
                        <tr>
                          <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Options</font></div>
                          </td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted&#8211;</font></div>
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">average&#160;grant-</font></div>
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">date&#160;fair&#160;value</font></div>
                          </td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr>
                          <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td valign="bottom" width="76%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Non-vested
      at January 1, 2008</font></div>
                          </td>
                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">485,271</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.31</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td valign="bottom" width="76%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Granted</font></div>
                          </td>
                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">45,000</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.88</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td valign="bottom" width="76%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Vested
      (including cancelled and exercised)</font></div>
                          </td>
                          <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(158,330</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.18</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Forfeited</font></div>
                          </td>
                          <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(53,500</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.06</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Non-vested
      at December 31, 2008</font></div>
                          </td>
                          <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">318,441</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.21</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                    </table>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of
December 31, 2008, there was $353 total unrecognized compensation cost related
to non-vested share-based compensation arrangements granted under the stock
option plans, of which, $261 is expected to be recognized during the year 2009,
$89 during the year 2010 and $3 during the year 2011.</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">141</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 54pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      14:-</font></font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SHARE
      CAPITAL (Cont.)</font></font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">f.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Private
      placements and warrants:</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
      November and December of 2005, the Company received aggregate gross
      proceeds of $3,050 from a private placement of 836,292 ordinary shares
      (out of which 150,807 shares were issued after December 31, 2005) and
      five-year warrants to purchase up to 292,701 ordinary shares at an
      exercise price of $3.53 per share. The private placement was made to
      accredited investors pursuant to Rule 506 of Regulation D, promulgated
      under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;) and to
      foreign private investors in offshore transactions in reliance on
      Regulation S promulgated under the Securities Act. In connection with the
      private placement, the Company&#8217;s placement agent received a cash fee of
      $150 and the Company&#8217;s placement advisors received five-year warrants to
      purchase up to 8,446 ordinary shares at an exercise price of $3.53 per
      share.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
warrants granted to the placement advisors as described above were fully vested
on the date of grant. The fair value of the warrants was $15 as computed using
the Black &amp; Scholes pricing model with the following weighted average
assumption: risk<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">-</font>free interest of
4%, dividend yield of 0, volatility factor of the excepted market price of the
Company&#8217;s ordinary shares of 74%, and expected term of 2 years of the warrants.
The Company recorded the issuance costs directly to additional paid in
capital.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of
December 31, 2008 none of the above mentioned warrants were
exercised.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
      2005, 4,251 warrants were issued to a consultant. The fair value of the
      warrants was $13 as computed using the Black &amp; Scholes pricing model
      with the following assumption: risk-free interest of 3.5%, dividend yield
      of 0, volatility factor of the excepted market price of the Company&#8217;s
      ordinary shares of 117.03%, and expected term of the warrants of 2 years.
      During the years 2005 and 2006, the Company recognized $8 and $5,
      respectively, as compensation
expenses.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
      2006, 2007 and 2008, the Board of Directors approved a grant of warrants
      to acquire up to 75,651, 44,000 and 100,000 shares respectively, to
      certain consultants. The exercise prices under the terms of the options
      range between $0.65 to $5.47 per share. The fair market value of the
      warrants is $162, $55 and $64, respectively, as computed using the Black
      &amp; Scholes pricing model with the following weighted average
      assumption: risk-free interest of 3.00% - 4.25%, dividend yield of 0,
      volatility factor of the excepted market price of the Company&#8217;s ordinary
      shares of 73.46%, 36% and 101.44%, respectively, and expected term of the
      warrants of 2.47, 2.38 and 2.90 average years respectively. During 2006,
      2007 and 2008, the Company recognized $131, $38 and $51, as compensation
      expenses, respectively.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">142</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 54pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      14:-</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SHARE
      CAPITAL (Cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">f.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Private
      placements and warrants
(cont.):</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A
      summary of the Company's warrants activity to consultants, investors
      (including warrants issued in connection with convertible bonds), and
      related information is as
follows:</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div align="left">
        <div align="center">
          <div align="right">
            <div align="right">
              <table cellpadding="0" cellspacing="0" width="94%">
                  <tr>
                    <td valign="bottom" width="28%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="22" nowrap valign="bottom" width="70%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Year&#160;ended&#160;December&#160;31</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr>
                    <td valign="bottom" width="28%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="6" nowrap valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">2006</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="6" nowrap valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">2007</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="6" nowrap valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">2008</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr>
                    <td valign="bottom" width="28%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Number&#160;of</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">options</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Weighted</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">average</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">exercise</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">price</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Number&#160;of</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">options</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Weighted</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">average</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">exercise</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">price</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Number&#160;of</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">options</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Weighted</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">average</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">exercise</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">price</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font size="+0"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Outstanding
      at beginning </font><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">of
      year</font></font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">525,111</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">4.53</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">759,916</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">4.65</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">782,685</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">4.64</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Granted</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">234,805</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">4.95</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">44,000</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">4.72</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">100,000</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">1.20</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Exercised</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="28%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Canceled
      and forfeited</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">(21,231</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">)</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">5.00</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">(25,500</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">)</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">5.04</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="28%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Outstanding
      at end of year</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">759,916</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">4.65</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">782,685</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">4.64</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">857,185</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">3.92</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="28%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Exercisable
      at end of year</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">737,250</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">4.65</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">747,185</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">4.63</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">763,852</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">4.27</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
              </table>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
warrants to consultants, investors (including warrants issued in connection with
convertible bonds), outstanding and exercisable as of December 31, 2008, have
been separated into ranges of exercise prices as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div align="left">
        <div align="center">
          <div align="center">
            <div align="center">
              <div align="right">
                <table cellpadding="0" cellspacing="0" width="94%">
                    <tr>
                      <td nowrap valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Range&#160;of</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">exercise&#160;price</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Options</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">outstanding&#160;as&#160;of</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">December&#160;31,</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">2008</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Weighted</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">average</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">remaining</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">contractual</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">life&#160;(years)</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Weighted</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">average</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">exercise</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">price</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Aggregate</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">intrinsic</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">value</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Options</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">exercisable&#160;as&#160;of</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">December&#160;31,</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">2008</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Weighted</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">average</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">exercise</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">price</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Aggregate</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">intrinsic</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">value</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr>
                      <td nowrap valign="bottom" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="right" valign="bottom" width="15%">
                        <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$
      0.65</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">80,000</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">4.87</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">0.65</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="right" valign="bottom" width="15%">
                        <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$
      2.50 - $ 3.53</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">432,502</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">2.30</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">3.27</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">419,169</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">3.26</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="right" valign="bottom" width="15%">
                        <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$
      4.42 - $ 4.85</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">71,200</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">5.34</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">4.67</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">71,200</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">4.67</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="right" valign="bottom" width="15%">
                        <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$ 5
      - $ 5.48</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">150,605</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">2.42</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">5.07</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">150,605</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">5.07</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="right" valign="bottom" width="15%" style="PADDING-BOTTOM: 2px">
                        <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$
      6.47</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">122,878</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">0.62</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">6.47</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">122,878</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">6.47</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="right" valign="bottom" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="right" valign="bottom" width="15%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">857,185</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">3.92</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">763,852</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">4.27</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                </table>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      fair value of all the warrants granted as described above was measured
      based on the fair value of the instruments issued on the date of grant,
      since, based on the opinion of Company Management, such measurement is
      more reliable than the fair value of
services.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of
December 31, 2008, there was $18 total unrecognized compensation cost related to
non-vested share-based compensation arrangements granted under the warrants, of
which, $12 is expected to be recognized during the year 2009, $5 during the year
2010 and $1 during the year 2011.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">g.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Dividends:</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In the
event that cash dividends are declared in the future, such dividends will be
paid in NIS. The Company does not intend to distribute cash dividends in the
foreseeable future.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">h.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Convertible
      bonds and warrants &#8211; see Note
13.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">143</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      15:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">RELATED
      PARTY TRANSACTIONS</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      October 1, 2001, the Company entered into a consulting agreement with a
      company owned by the Chairman of the Board of Directors, who was one of
      the co-founders of the
Company.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
consideration of these consulting services, the Company has undertaken to pay
$10.5 per month plus motor vehicle expenses. In addition the Company pays $1.5
per month as a director&#8217;s fee. During 2006, 2007 and 2008, the Company paid
$144, $144 and $121, respectively, pursuant to this agreement. (Regarding the
reduction in the amount paid during 2008, see below Note
15f.)</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 90pt; TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
December 2008 according the Special General Meeting (see Note 15f below),
296,817 options with an exercise price in the range of $2.4706 to $5 were
re-priced to $1.1 and all such options with an expiration date prior to October
27, 2013, shall nonetheless be exercisable until October 27,
2013.</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      October 1, 2001, the Company entered into a consulting agreement with a
      company owned by a member of the Company's Board of Directors, who was one
      of the Company's co-founders and a principal shareholder. On January 13
      2005, the General Shareholders Meeting approved the following amendments
      to the consulting agreement:</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As
      of the date of the approval of the General Shareholders Meeting, the
      consideration shall be an amount of $7 per
  month.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Upon
      the termination of the car lease agreement in March 2005, to increase the
      car lease, to a price of up to NIS 4,200 (approximately $1.1 as of
      December 31, 2008), (excluding tax) per
month.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 18pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To
      grant a one-time bonus of NIS 130,000 including VAT, which was paid during
      2005.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
addition, the Company pays $1.5 per month as a director&#8217;s fee.&#160;&#160;During
2006, 2007 and 2008, the Company paid $102, $102 and $84, pursuant to this
agreement. (Regarding the reduction in the amount paid during 2008, see below
Note 15f.)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
December 2008 according the Special General Meeting (see Note 15f below), 37,400
options with an exercise price in the range of $2.4706 to $5 were re-priced to
$1.1 and all such options with an expiration date prior to October 27, 2013,
shall nonetheless be exercisable until October 27, 2013.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">c.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      October 1, 2001, the Company entered into a consulting agreement with a
      company owned by one of the co-founders of the
  Company.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
consideration for these services, the Company has undertaken to pay $4.6 per
month plus motor vehicle expenses. During 2006, 2007 and 2008, the Company paid
$72, $71 and $58 respectively, pursuant to this agreement. (Regarding the
reduction in the amount paid during 2008, see below Note
15f.)</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">d.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      January 13, 2005, the General Shareholders Meeting approved, among other
      things, the Board of Directors&#8217; decision dated October 4, 2004, to grant
      options to acquire up to 51,001 ordinary shares of the Company to the
      Chairman of the Board of Directors and 8,500 ordinary shares of the
      Company to each of the two directors of the Company, who are not &#8220;external
      directors&#8221;.&#160;&#160;The exercise price of the options is $5 per share.
      Those options were granted as compensation for their efforts in completing
      a private placement during
2004.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">144</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      15:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">RELATED
      PARTY TRANSACTIONS (Cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">e.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      January 21, 2007, the General Shareholders Meeting approved the grant of
      options to the Chairman of the Board of Directors and to a director who is
      one of the co-founders of the Company to acquire up to 51,000 and 20,400,
      respectively ordinary shares of the Company, at an exercise price of
      $5.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On April
29, 2007, the General Shareholders Meeting approved the grant of options to the
Chairman of the Board of Directors and to two external directors to acquire up
to 85,000 and 40,800, respectively ordinary shares of the Company, at an
exercise price of $4.118 and $5 respectively.</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On August
15, 2007, the General Shareholders Meeting approved the grant of options to a
director to acquire up to 20,400, respectively ordinary shares of the Company,
at an exercise price of $5. In December 2008 according the Special General
Meeting (see Note 15f below), the options were re-priced to $1.1 and all such
options shall nonetheless be exercisable until October 27, 2013.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">f.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      December 21, 2008, the Special General Meeting of Shareholders approved
      that as part of a cost cutting plan, all of the Company's non-external
      directors, will join a temporary arrangement pursuant to which the
      remuneration payable to them shall be paid in fully vested options to
      purchase shares of the Company instead of in cash, effective October 1,
      2008 for a minimum period of three months, with an option to the Company
      to extend it from time to time for additional consecutive periods of up to
      twelve (12) months in the aggregate. In addition (a) all options held by
      the Participants on October 27, 2008, shall be re-priced so that the
      exercise price thereof shall be $1.1 (the closing price of the Ordinary
      Share on said date), and (b) all such options with an expiration date
      prior to October 27, 2013, shall nonetheless be exercisable until October
      27, 2013.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">g.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Regarding
      subsequent events see Note
19.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 54pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      16:-</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SEGMENTS,
      MAJOR CUSTOMERS AND GEOGRAPHIC
INFORMATION</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Summary
      information about geographic areas:</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company manages its business on the basis of one reportable segment (see Note 1
for a brief description of the Company's business) and follows the requirements
of SFAS 131, "Disclosures about Segments of an Enterprise and Related
Information".</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
following is a summary of operations within geographic areas, based on the
location of customers and data regarding long-lived assets:</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div align="left">
        <div align="center">
          <div style="MARGIN-LEFT: 90pt" align="left">
            <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">
              <table cellpadding="0" cellspacing="0" width="82%" style="TEXT-ALIGN: left">
                  <tr style="TEXT-ALIGN: left;">
                    <td valign="bottom" width="28%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="22" nowrap valign="bottom" width="70%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year&#160;ended&#160;December&#160;31,</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr>
                    <td valign="bottom" width="28%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="6" nowrap valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2006</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="6" nowrap valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="6" nowrap valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr>
                    <td valign="bottom" width="28%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Long-lived</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Long-lived</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Long-lived</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr>
                    <td valign="bottom" width="28%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">revenues</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">assets</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">revenues</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Assets&#160;(*)</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">revenues</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Assets(*)</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr>
                    <td valign="bottom" width="28%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Europe</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6,023</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(**)</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9,003</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(**)</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15,193</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Asia
      Pacific</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,730</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">18</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,330</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">310</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Africa</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">621</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">823</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">350</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">United
      States</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">373</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">54</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,787</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,248</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,506</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,842</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="28%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Israel</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">194</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">88</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">371</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">613</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">294</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">329</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td valign="bottom" width="28%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td valign="bottom" width="28%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font size="+0">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font size="+0">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font size="+0">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font size="+0">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%">&#160;</td>
                    <td align="right" valign="bottom" width="9%">&#160;</td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td valign="bottom" width="28%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8,941</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(**)</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">160</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13,314</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(**)</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,874</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20,653</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,178</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
              </table>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(*)</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Long
      lived asset data includes allocation of intangible assets and goodwill
      amounts.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(**)</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Reclassified
      (See Note 2y).</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">145</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 54pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      16:-</font></div>
            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SEGMENTS,
      MAJOR CUSTOMERS AND GEOGRAPHIC INFORMATION
  (cont.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Summary
      of operations based on products and
services:</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <div align="left">
        <div align="center">
          <div style="MARGIN-LEFT: 90pt" align="left">
            <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
              <table cellpadding="0" cellspacing="0" width="82%">
                  <tr>
                    <td valign="bottom" width="64%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="10" nowrap valign="bottom" width="34%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year&#160;ended&#160;December&#160;31,</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr>
                    <td valign="bottom" width="64%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2006</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr>
                    <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td align="left" valign="bottom" width="64%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Raw
      materials and equipment</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6,529</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9,315</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17,589</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Maintenance,
      royalties and project management</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,412</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(*)</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,999</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(*)</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,064</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="#ccffcc">
                    <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr bgcolor="white">
                    <td valign="bottom" width="64%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8,941</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(*)</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13,314</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(*)</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20,653</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
              </table>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(*)</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Reclassified
      (See Note 2y).</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">c.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Major
      customer data as a percentage of total
sales:</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <div align="left">
        <div align="center">
          <div align="center">
            <div style="MARGIN-LEFT: 90pt" align="left">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                <table cellpadding="0" cellspacing="0" width="82%">
                    <tr>
                      <td valign="bottom" width="64%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="10" nowrap valign="bottom" width="34%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year&#160;ended&#160;December&#160;31,</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr>
                      <td valign="bottom" width="64%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2006</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr>
                      <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 4px">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Customer
      A</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">59</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">50</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">26</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 4px">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Customer
      B</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">47</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 4px">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Customer
      C</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">*</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                </table>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 90pt">
              </td>
              <td align="right" style="WIDTH: 27pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(*)</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Less
      than 10%.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      17:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FINANCIAL
      EXPENSES, NET</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>&#160;</div>
    <div>
      <div>
        <div align="left">
          <div align="center">
            <div style="MARGIN-LEFT: 63pt" align="left">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                <table cellpadding="0" cellspacing="0" width="85%">
                    <tr>
                      <td valign="bottom" width="64%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="10" nowrap valign="bottom" width="34%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year&#160;ended&#160;December&#160;31,</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr>
                      <td valign="bottom" width="64%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2006</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="64%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Financial
      expenses:</font></div>
                      </td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td colspan="2" nowrap valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt">
                        <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Interest,
      amortization of discount, bank charges and fees (*)</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(178</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(962</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2,301</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt">
                        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exchange
      differences</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(109</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(109</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt">
                        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Unrealized
      loss on&#160;&#160;marketable securities, net</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2,699</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt">
                        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Realized
      loss on sale of marketable securities</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1,116</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(862</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Others</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(118</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      financial expenses</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(287</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(4,886</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3,281</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Financial
      income:</font></div>
                      </td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt">
                        <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exchange
      differences</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">62</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Interest</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">83</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">234</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">106</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                        <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      financial income</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">83</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">234</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">168</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="white">
                      <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr>
                    <tr bgcolor="#ccffcc">
                      <td align="left" valign="bottom" width="64%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 4px">
                        <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      total</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(204</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(4,652</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3,113</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    </tr>
                </table>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">*</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
      2006, 2007 and 2008, includes $75, $745 and $2,214 expenses related to
      convertible bonds, respectively. (See Note 13
  above).</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">146</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VUANCE
LTD. AND SUBSIDIARIES</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (Cont.)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">U.S.
dollars in thousands (except per share data)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      18:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">OTHER
      EXPENSES, NET</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>&#160;</div>
    <div>
      <div>
        <div align="left">
          <div align="center">
            <div>
              <div align="left">
                <div align="center">
                  <div style="MARGIN-LEFT: 63pt" align="left">
                    <table cellpadding="0" cellspacing="0" width="88%">
                        <tr>
                          <td valign="bottom" width="64%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2006</font></div>
                          </td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                          </td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="2" nowrap valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                          </td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr>
                          <td valign="bottom" width="64%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td colspan="10" nowrap valign="bottom" width="34%" style="BORDER-BOTTOM: black 2px solid">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year
      ended December 31,</font></div>
                          </td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Write-down
      of loan regarding an investment in an affiliated company and other trade
      receivables</font></div>
                          </td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(321</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td align="left" valign="bottom" width="64%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Loss
      on sale of property and equipment, net</font></div>
                          </td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(8</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other</font></div>
                          </td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(38</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="white">
                          <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                        <tr bgcolor="#ccffcc">
                          <td valign="bottom" width="64%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(367</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr>
                    </table>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      19:-</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SUBSEQUENT
      EVENTS</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Regarding
      the Company's non-compliance with NASDAQ requirements for continued
      listing on the Nasdaq Capital Market set forth in Marketplace Rule
      4310(c)(3), see Note 1a.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      January 9, 2009, according to the board resolution on October 27, 2008 and
      the Special General Meeting dated December 21, 2008, the Company granted
      to: a) Chairman of the Board of Directors; b) a member of the Company's
      Board of Directors who is also one of the co-founders; c) one of the
      co-founders of the Company and d) another member of the Company's Board of
      Directors options to purchase up to: 49,311, 34,702, 24,244 and 6,164
      shares of the Company, respectively. The options have an exercise price of
      NIS 0.0582235 per share, vested immediate and will expire after ten years.
      The options were granted as compensation for waiver of three months&#8217; cash
      payments according to their agreement with the
  Company.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">c.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      March 12, 2009, the Company granted options to purchase up to 125,142
      shares to several employees as compensation for waiving part of their
      payroll. The options have an exercise price of NIS 0.0582235, vested
      immediate and will expire after ten
years.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td style="WIDTH: 54pt">
              </td>
              <td align="right" style="WIDTH: 36pt">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">d.</font></div>
              </td>
              <td align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      March 25, 2009 the Company, through its subsidiary Vuance Inc., completed
      the acquisition of certain assets and liabilities of Intelli-Site, Inc.
      (&#8220;Intelli-Site&#8221;), pursuant to an asset purchase agreement dated March 6,
      2009 with Intelli-Site and Integrated Security Systems, Inc.
      (&#8220;ISSI&#8221;).&#160;&#160;On the date of closing, Vuance Inc. agreed to pay
      Intelli-Site $262, payable in twenty-five (25) consecutive
      installments.&#160;&#160;The first twelve (12) monthly installments shall
      be equal to $11 each, and thereafter, the remaining thirteen (13) monthly
      installments shall be equal to $10 each (the &#8220;Cash
      Consideration&#8221;).&#160;&#160;In addition, the Company issued to ISSI
      200,000 of its ordinary shares (the &#8220;Consideration Shares&#8221;).&#160;&#160;In
      addition to the payment of the Cash Consideration and the issuance of the
      Consideration Shares, Vuance Inc. agreed to pay Intelli-Site and ISSI, as
      applicable, in royalty payments, an amount of up to $600 in the aggregate,
      based upon certain conditions, which shall be paid on a quarterly basis,
      within thirty (30) days of the close of each quarter, and will be made 50%
      in cash and 50% in the Company's ordinary shares (the &#8220;Royalty
      Shares&#8221;).&#160;&#160;The number of Royalty Shares to be issued to ISSI
      shall be calculated on the basis of the weighted average closing price of
      the Company ordinary shares for the fifteen (15) trading days preceding
      the quarterly payment, subject to a minimum of
  $1.25.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ISSI, or
its permitted transferee, agreed to lock-up the Consideration Shares and Royalty
Shares, if any, as applicable, pursuant to which ISSI or its transferee will not
offer, sell, transfer or otherwise dispose of the Consideration Shares or the
Royalty Shares. The restrictions on the transfer of the Consideration Shares and
the Royalty Shares will expire in eight equal installments, commencing with the
end of the first calendar quarter following the date of closing and each of the
seven following calendar quarters thereafter.&#160;&#160;If any Consideration
Shares or Royalty Shares are issued after the last day of the eighth calendar
quarter following the date of closing, such shares shall not be subject to any
transfer restrictions.</font></div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-
- - - - - - - - - - - -</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">147</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
19.&#160;&#160;&#160;&#160;Exhibits.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <div align="left">
          <table cellpadding="0" cellspacing="0" width="100%">
              <tr>
                <td align="left" valign="top" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.1*</font></div>
                </td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="89%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Memorandum
      of Association of the Company.</font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="89%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr>
                <td align="left" valign="top" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.2**</font></div>
                </td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="89%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Articles
      of Association of the Company.</font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="89%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr>
                <td align="left" valign="top" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.1*</font></div>
                </td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="89%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Forms
      of Stock Certificates Representing Ordinary Shares.</font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="89%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr>
                <td align="left" valign="top" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.1*</font></div>
                </td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="89%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
      Vuance Ltd. 1999 Employee Stock Option Plan (as Amended and Restated in
      2002).</font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="89%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr>
                <td align="left" valign="top" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.1(a)***</font></div>
                </td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="89%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
      Vuance Ltd. 2003 Israeli Share Option Plan</font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="89%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr>
                <td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="89%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr>
                <td align="left" valign="top" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.2*</font></div>
                </td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="89%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Stock
      Purchase Agreement between Vuance and Elad Ink, dated as of March 4,
      2002.</font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="89%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr>
                <td align="left" valign="top" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.3*</font></div>
                </td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="89%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Stock
      Purchase Agreement between Vuance and ICTS BV, dated as of April 29,
      2002.</font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="89%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr>
                <td align="left" valign="top" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.4*</font></div>
                </td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="89%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Stock
      Purchase Agreement between Vuance and ICTS-USA, Inc., dated as of
      September 27, 2002.</font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="89%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr>
                <td align="left" valign="top" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.5</font></div>
                </td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="89%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Asset
      Purchase Agreement by and among Intelli-Site, Inc., Integrated Security
      Systems, Inc., Vuance, Inc. and Vuance Ltd. dated as of March 6,
      2009.</font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="89%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr>
                <td align="left" valign="top" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8****</font></div>
                </td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="89%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">List
      of Subsidiaries of Vuance Ltd.</font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="89%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr>
                <td align="left" valign="top" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11.1****</font></div>
                </td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="89%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Code
      of Ethics</font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="89%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr>
                <td align="left" valign="top" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12.1</font></div>
                </td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="89%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Certification
      pursuant to Section 302 of the Sarbanes-Oxley Act.</font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="89%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr>
                <td align="left" valign="top" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12.2</font></div>
                </td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="89%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Certification
      pursuant to Section 302 of the Sarbanes-Oxley Act.</font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="89%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr>
                <td align="left" valign="top" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13.1</font></div>
                </td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="89%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Certification
      pursuant to Section 906 of the Sarbanes-Oxley Act.</font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="89%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr>
                <td align="left" valign="top" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15.1</font></div>
                </td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="89%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Consent
      of Fahn, Kanne &amp; Co., a member of Grant Thornton, dated June 30,
      2008.</font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="89%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr>
                <td align="left" valign="top" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15.2</font></div>
                </td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="89%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Consent
      of BDO McCabe Lo &amp; Company, independent public accountants, dated June
      29, 2008.</font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="89%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr>
                <td align="left" valign="top" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15.3</font></div>
                </td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="89%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Consent
      of PKF, independent public accountants, dated June 26,
    2008.</font></div>
                </td>
              </tr>
          </table>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <div>
        <hr style="COLOR: black" align="left" noshade size="1" width="30%">
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">*
Previously filed as exhibits to, and incorporated herein by reference from, the
Company&#8217;s Registration Statement on Form 20-F filed on September 14, 2004 (File
No.: 0-50790).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">**
Previously submitted to the Securities and Exchange Commission on, and
incorporated herein by reference to, Exhibit A to Exhibit 1 to the Company&#8217;s
report on Form 6-K submitted on July 5, 2007 (File No.: 000-50790).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">***
Previously filed as Exhibit 99.2 to, and incorporated herein by reference from,
the Company&#8217;s Registration Statement on Form S-8 (File No. 333-121231 filed on
December 14, 2004).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">****
Previously filed as exhibits to, and incorporated herein by reference from, the
Company&#8217;s Annual Report on Form 20-F filed on June 30, 2008 (File No.:
001-33668).</font></div>
    <div><br></div>
    <div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">148</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNATURE</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Vuance
Ltd. hereby certifies that it meets all of the requirements for filing on Form
20-F and that it has duly caused and authorized the undersigned to sign this
Annual Report on its behalf.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <div align="right">
        <div align="right">
          <table cellpadding="0" cellspacing="0" width="45%">
              <tr>
                <td align="left" colspan="3" valign="top" width="100%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">VUANCE
      LTD.</font></div>
                </td>
              </tr>
              <tr>
                <td valign="middle" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="middle" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="middle" width="92%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr>
                <td align="left" valign="middle" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="92%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;/s/
      Eyal Tuchman</font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="6%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">By:</font></div>
                </td>
                <td align="left" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="bottom" width="92%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Eyal
      Tuchman</font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="6%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Its:</font></div>
                </td>
                <td align="left" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="bottom" width="92%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Chief
      Executive Officer</font></div>
                </td>
              </tr>
          </table>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:&#160;June
30, 2009</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">149</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>audit.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 audit.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@$9P,P`P$1``(1`0,1`?_$`-D``0``!P$!`0``````
M```````"`P0%!@<(`0D*`0$``P$!`0```````````````0,$`@4&$```!@(!
M`P("!`@*!@<%`!,!`@,$!08`!Q$A$@@Q$R(405%Q%6&1P3)R(Q8)@;'14I*R
M,U,T%Z%"TK,D=.%BHN(U11CP@D-C<[235"4V\<+3=2;C1+6#HY1F=AD1``(!
M`@,$!P<"!`0&`0,#!0`!`A$#(3$$05$2!6%QD:'1$Q3P@;'A(E(5P3+Q0B,&
M8G(S4X*2TD,D%J*R8S3B1%0EPG.3@__:``P#`0`"$0,1`#\`_?,S'W!!4OY@
M`(<CT'D0'Z,`N6`,`8`P!@#`&`,`MKF,:/EB*/6C5P5!1)9L8Y!%5-5(2G*<
M1]!$JA0$/JXP"Y8`P!@#`&`,`8`P!@#`&`,`8`P!@$EPF*J0I@5(X&$`,58H
MF(8G(=P"`=>1#TP"2R8,XY,Z3)LDU(JJ9=4B)>TIUCE(4Z@_68Q4P#^#`*S`
M&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8
M`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8!1/&+
M=[[8.&R#@$^[M]\HCV=W;SV\!_K=H<_9@%0BD1!)-%,A$TTR@4B:8<$(4/0I
M0^@`P";@#`&`2E_[(_V?E#`)37\PWZ7Y`P"JP!@#`*`_^/3_`/H%_KJ8!+B_
M\./VA^7`+G@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,
M`8`P!@#`&`,`8!2*N#D.8H`7@./4!YZ@`_0(?7@$:"IE!,!@*'`!Z`/T_:(X
M!48`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P
M!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`H'3I5`%A32]X4TS'(D3@%%3`3N!,@F
M,!`.<>@<\!R/7`*5&0<G4[#M5$RBW37%504!(10YN#-!!%PJ;WD@ZB(\!QZ8
M!=DS"<A3#QR(?1Z>O\.`1X`P!@#`&`,`8!*7_LC_`&?E#`)37\PWZ7Y`P"JP
M!@#`*`_^/3_^@7^NI@$+,?='W2_FAR'7H/4/JP"XX`P"@53>B\]Q+Y7Y<&JA
M`]PAA6]\QP$H<AP'M"`=0P"OP!@#`&`0'4*F`";GJ/'0.<`I59!J@9(JR@)"
MOR"/?T!0X&[?;(//53\'U8!-^93_`.M^+_IP"<4P'*!@YX'TYP"+`&`,`8`P
M!@#`&`,`8`P!@#`&`2!<$*/!BJ%'ZC%#J'UAP(],`GX`P!@#`&`,`8!2*(J&
M4$Y.WZ!+W<\<@``'<`=1#D,`LT1"*130R`.G;DRSERZ6,^?.'QB*KJB?L:J+
MF$4FA0$>U,`#MYP"K=Q+=\0B;QHU<%1'W&YCE_6HN#]R:JI3<"`&!(WPCQZA
M@%Q:MDVB)$$^>PG0.?7`*C`&`2O>)[P(]>\2B;TZ<!^'Z\`FX`P!@#`&`,`8
M`P"4JL1(2`?G]8;M+P'/7\/U!@$W`&`,`8`P!@#`&`,`8`P!@#`&`>"8`X`1
M`!'TY$`Y^SZ\`D*.4DP`3>X("J"(B1,ZA2&$>.Y4Q`,5),.>IC<`'TX!&=8B
M8@!N>H<AP'(<?CP"2J]123.H8#B4@<B!2\F$.>.@<]1ZX!4D."A"G+SVG`#!
MR'`\#]8?0.`18`P!@#`&`,`8`P!@#`&`,`8`P"$YP(0QQY$"@(CP'(\!]0?2
M.`8C-6IK',$'PF%!%>29Q@BY)V"*KU?Y=,0`1$.P!*(B;GH`<X!=V;P@BH<R
M2Z2?<8B9U/8,5P4GQ&6;B@NL*B':'/=P'3Z,`J6<JPD$2.6+@CINH=1,BR7Q
M)F.BJ=!4H"/`\IK)F*/3H(#@%>``'H`!S]0<8`$0*`F'T`!$?L`.<`D?,I_]
M;\7_`$X!(^\F8+@V%=$KD0[P0,N@584_3W?:%4#^V'V<X!*2FHUP5X=L[;N"
MQZBR#\47#93Y)R@!#*MG7"WZE<I3@/:.`3'$K'M&Z3IT[;H-EQ(5)PLNBF@<
MRGYA05.H5/XOKYXP"H^92X*/(_$4#@`=IOA-^:/<4PD$#`'3@1P">`@8`,'H
M(`(?8(<X![@$I?\`LC_9^4,`H2)'4`1+QP`\=1XP">D@<BA3#V\!SSP/UE$/
MJ_#@%9@#`*#_`,Q4_P"03_WZV`0,@]H02+^:/(]>H]`^OI@%RP"4L<R9.XO'
M/(!U_AP"S.9D[93V_D7SCX"G]QLA[B?Q<_"!N?SPXZA@$<'+'F697@LWC`#+
MN4A;22'RSL`1.!2F]GN-P4>?7`+W@#`/!Z`(_@P"TKKJ&%(H]O`J<&X#J`=H
MCUZ],`Q*[QOS"$0\)&3LJM#S31ZT:03MDV/W'!-,[B1^?.D16/;@83'(F(G$
MH#QR/3`,H<E<G02^4$B3Q8A#^TJ`'*GU`5#&`1*(AV]`^H<`KA542530#M[?
M:,8P\#SW`'/0>?3G`(?F5/\`J_B_Z<`?,J^X4OP]HHF4'I_K`(\!SSZ=,`?,
MJ?\`5_%_TX!6IF$Q"F'U$`$<`MX2*:JRR"/Y[<2@KW%'_7[NWCT_F#@$*\B1
MJBHX=+H-FZ0`*BZP@1),#&`A1.<1`"@)S`'\.`5C51PHEW.4TDE.X>"HJ^Z4
M2<_`;N[2\=P=?IP"IP!@%.Z%8J!Q;]ONAV=O>7N+QWE[N0`0Y^#G`(TE`4(`
M\\B'`'X`0`#<!SQS]'.`3<`8!"8!$I@`>T1*(`8/]41#U_@P#'&+1PS*N1U(
MJ21E7*BQ%5``#()'*F4K8.!$.U,2"(?I8!4PK]V[:H`_^4&1)[C>13CE/?:M
M7B/4Y!5$0,`F(8O`<=!YP"XO7J+%'WEN>SD`^$.1Y'[,`J\`8`P!@#`&`,`8
M`P!@#`)7LD]X%^O>!>WU^'C[./7`)N`626D'S%D^<,8Y:7=MD3J-HQJJU;.'
MRI>.UNDX?*HLT3'_`)RABE``P"D@I>8DHEJ^F(0M>?KBK[L7]YLYCV"D/VIC
M\^QX;*F.7U`OYH],`NS1RL8H_.%(B<[I9)L`>JR11$4C`'(]3)AS@%PP!@#`
M&`4#P.XR7/\`J#WA]O/'7\&`5P=0`?P8![@#`&`,`8`P!@#`(3#P4P\\<`(A
MU`.H`(_ZP@'T?3@%A:R;Y9W((KLSLR-5$2-_=4;J_-)G3[S."^PH8Q2B;IP(
M8!>R'$R/>/'/:8?P=!'C^+`($%3J=W=QP``("`<?7@%1@%(X9I.5&ZJAE2F;
M&,<@)G[2F$X%`04#@>X/AZ8!;Y>`C9L&X/P<B9JN5RV.W>NFADUB"`D,)6RJ
M2:X%$/S52G*/T@.`7,&R8$3((G,"90(43&Y,(!Z=P\=1P!\LE_UA_`(]/XL`
MFD3!/D"B;@?H$>0+Q]!0^@,`CP!@#`&`,`IEE3)F*`<<"'(].1]?HZA@%/'J
MOCH%%^#7WC*J@`LCG51]L!,*?>90I1*IV@'(!TYP">[6.@D)R``B`^@AST#U
M^K`*>/&1!%LG('077!J7YM=N3V4A><\F*1(QSF(3L'TY'`+E@$)N>@@/'`\C
MZ=0X'H//H'V=<`MT6I)*HKFD_D/<^<7!M]W@Z!/Y(!+\O[P.RD4^:XY[^T.S
MGTP"M7.9,@&+QR)@#KUZ<"/Y,`LS=S)EDWPNQ0^ZCI-0C`32$%P7!+_C/>4[
MS`8HJ?F_"'`?7@%X7.)"AQQR)O0>O(<#ST^KG`+#)1[.42!-ZU0<E343<))+
M)@=$'"`*^R<R?H<`%4>0^G`+-!Q\LQ7?!*R\0^;"LD6M)1D>G'+1C$B'8Y;+
M&!54'2WO>AN`X+T[<`R]JU132)V%[?B.?@H$(`F,H8YC"4A2E[C&$1$0`.1'
MG`*_`(%1*5-0QQX(4AQ,/IP4"B)AY^S`+,F[9.@$6:Z:X$$0.9)5-8H#Z=HF
M3$P`8!#J'K@%4G',U%".SH(F==O:"XHH"J"8#_9>X*0G]L?JYYP"G^X(PB;Q
M-N@FS)(G76D`:HMDOGW#D"`JY=_J!]YP()A\0]>,`D+5F#=F;'<M$G1&B9$V
MZ"Q4U6A#I\=JWRHD%N9</K$O'X,`O/RR7!0X'X2@0!#M+\)?S0[2E`@`4!Z<
M`&`3P`"@!0]```#[`#C`/<`E+_V1_L_*&`4)%3I@(%XX$>>H<X!/27.=0I1[
M>!YYX#ZBB/U_@P"LP!@%!_YBI_R"?^_6P"7%_P"''[0_+@%SP#PP]H"8>1``
M$>G4>@<]`^O`+6TET'BYT$T'9#$YY.JD4B8\>O!@4,/^C`)J<JP677;(N4U5
MVQ@*NDF8#'3$?H,'X,`KB'`Y>XO/'X?P8!%@'@@!@$!]!`0'@1#H/0>H<"&`
M62,@6,6^E9)NFH5W,J(*/C&<N5R'%JE[*'81=0Y2""?KP`=<`N1T#F5[P$O'
M)1ZB//0``?HX^C`);Y4R)"'(43*`8>S@`$`'M_UN1Z!^/`#1T=1%+Y@O:N;D
M#E(')0$3B!>!'@?S>,`KL`8`P!@$A=(RO;VB4.WNYYY^GCZ@'ZL`MC^-,[9N
M6QDF3CW4Q`$'J8KM%#D$%$BN$1*'N)@J0!_`(<_1@%;'I+I-4OFB-TW1R$.Z
M*U[OE@7[0!3V0.`&`G(?3U'`*W`*-4'HND!1%'Y0"F]\#&$%1/W!V]@`00$O
M;^$,`K,`8`P!@#`&`4R2)B*"81+P(#Z"//4?P@&`5.`,`8`P!@#`&`,`A.'<
M4Q0]1*(!S^$!#`,:G8R:=1CM&">,&$N9LM]VR#Y!9XU9O>TORZKADDHW%XUY
MY!1,3E`P<=<`KF+)^FR:$D%VSA^1LB5\X;IJ(-UW@)E^96;H',J=!!1;N$A!
M,;L*(!R/&`7%!(R8F$PE'D`]!'Z/M`,`J,`8`P!@%I?,W*S=T5L=$BZJ:@-S
MK%.=-)8W/LJJ)E%,5"(J<&$@&#O`.WD.<`M%:BK(QAVS:TS,;/3:9EA<RL;$
M#!-7!#*&%N0D8#N0*B9!+@HF!0>\>O`8!D23<Y#E,(EX#GT$>>H"'T@'UX!5
MX`P!@#`&`,`8`P"C>MEG20)HNU69N[D5$0*)A#Z2CW?0.`0?*J?63\9O]G`/
M0:J`(#R3U^LW^S@%0LF*A0*40`0,`]>?J$/H`?KP"Q!"&))KR9'+LZB[9!N=
ML=XH,>0J)^X!;-.WM;.S^IEPY,(?#QQUP#(\`D*JA\:0&$J@E$I3"4#%*8Q?
MA,)1$.X`$?3Z<`MRS0Z;L70N5Q*=L1M\IW?\(0Z9Q4%RFEQ^K64`W:/7C@,`
M]2#WCG3+T$GKW=`]`'IQR/TX!4?*J?63\9O]G`+?'PWW8YD7@NWCP\B].],5
MZX,NC')B4A?DXQ'M`K=OP7D`^L1P"[_,I_\`6_%_TX!`J^;(]@**`45.B91$
MO>H8?1-)+GW55!^HH&'`)R2R:W/8;D2\=Y!`2G)W<\`<A@`Q!'CZ0P";@#`&
M`4ZR)E#%$!+P`<"`B/U\_0`X!)9ME&R1$U3@X,"JZGNF'XDRJ"<2E)R'(]H&
M[?HZ8!78`P!@%*H];I!W*G["]P%[C!P7N$>`#G\.`5!#D4*!B&`Y1]!*("'^
MC`+4YBTWA").14]LBR:P`W<N&I^]/GM[E$#)*"G\0\EYX'Z<`N:1#)D`ANWX
M>A>!./P_1R90QS&-]8B.`3,`\$`$!`?00$!^P<`MZL>D=RF[*``NDV,T(81'
MCY<QR*B`\!^<*B88!%\JI]9/QF_V<`DJ1B:RK999!FLLS5%=HLN@"ZC18R9D
MCK-1,!116,D<2B8H@(E$0],`N1"`0O`%`OQ&,(!UY$QA,8WVF$>?X<`CP"WN
MF?S)5TU"IJI+IG342.(@51-0@D.F;@H_"<HB`_@'`,;J]%KE*8N(VIP,%6HY
MT]7D5X^"CTHYJL_<CW.'RY$0X6=KC^><>H\8!DORJGUD_&;_`&<`A.T5$"@`
MDY]PO=U,'ZH0.50`^'UX-TP"BAX!I"1I(UH4"I%.=;J(]5CG$XF_-Z`(C@%?
M\JI]9/QF_P!G`*T@=I2E'U`H`/'X``,`BP"4O_9'^S\H8!;,`F1O]F<_T'65
M*'U\E.?GGZ..F`73`):I!4()0X`1$/7TZ#^`!P"W(IBF_5*80$19$'IS_?*A
M](!]6`11?^''[0_+@%SP!@$/:`<]H%`?KX#U_@P#`F%<4BK)*R:+DBC.7;HF
M7;BERJ$HB/#E<BH\F214*(?JP^$!P#.&_P#9!]H_QX!/P#P?0?L'`*=!10YC
M`?T`.0Z<=><`A.JH57M`!$O)>@%ZB`@`B`#]8\X!;X8[M0'@.Y)&2X='%$46
MI6X-$A_-:J=HC[JJ?TF^G`+L*)!/W\?%R`^O3D...GI]&`0KG.0"]GTB//3G
M`)B8B8A1-ZB'7IQ].`1X`P!@#`&`,`8!`H)P(82=O?\`ZO>!A+SR'J!?B'^#
M`+8D>2(*OS9VQ^Y3E`&R*I`*EV@`@K[QCF,IW\]0X#C`/5E'RB8D:G(FL)B=
MIE$P,4"@8!4`0'CJ)`$`P"Y)]_87W!`3@`=X@'`=W'7@`Y#`(\`8`P!@#`&`
M,`8`YXZCT#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`I$55#GX-Z<"/
MYO'7`*KD/K#\>`.0^L/QA@'N`,`8!(7.<A2B3U$>!Z<].,`MC=)R+AVHNZ45
M(LLBHU(9HBBBQ23(D0[<JQ0*=V98Y3&[C\B43=OH`8!=SIE4X`P<\>G40P"6
MFW22.8Y`'N/Z\B(_0`=`^P,`GX!X8`,`E'T$.!P"3\NE]0_TAP"RS=5@;&U3
M9S<>20016!=(%5%B*)*%-W%]M9!1)8A0$/0#!@%Y;MT&B2:#<A4DDTR))IAZ
M%(F'!0Y-R8P@'TB(C@%1@#`&`,`8`P!@#`*8S1`X<'(!PY`W:;J41`>0$0'I
MTP"H*4I0X*4"@'H!0``#^`.F`>X`P!@#`&`,`8!YR'UA^/`/>>/7`(>XO/'<
M7GGCCD.>0^CCZ\`][@^L.G0>H=,``(#SP(#P/`\"`\#]0\>@X![@#`&`,`8!
M*7_LC_9^4,`ID$B*%,)@$1`>/40^C`*A%!-`@$3`0*!SGZB(CW'$PFZC]')L
M`G8`P"@_\Q4_Y!/_`'ZV`2XO_#C]H?EP"YX`P!@#`/!$0`1`!$0`1``XY$?J
M#D0#D<`DHN$UP#L[N1`W("4>"F((%4()@Y)WD./`AS]G3`)^`,`A.82$.8"F
M.)2F,!"\=QQ`!$"EY$`[C<<!U#`+>@D@Q!0&Z"@F<*BJ=,HD$XJF*!SB(F.4
MH<%'KR/X\`KBJ@=/W0`P!P81*/'<':(@8!X$0Y`0^O`)7S2?U'_$7_:P">4P
M'*!@YX'Z_7\N`18`P!@#`&`,`8`P!@$)S@0HF'G@./3UZB`?3Q]>`6T\RP3>
MH1QETP?.455T6IE4"KG22Y[E"I&5!4Q!,40`0`0Y`<`J@=IB`#VG#D.>!`OY
M#"&`3TU`4`3%`0`!XZ\?4`_0(_7@$>`,`8`P!@#`)#E(RR)TRB`&,'03<@'\
M/`".`3$RB1,A1XY*4`'CTZ!]'I@$>`,`EJ*E3X$P"///IQ]'VB&`2#O44R&.
M?O*0A1,8W;W<%*'(CVE$QAZ!Z``C@$0.DQ*4W:H'<`#P)>!#D`$`'NXZ\#@#
MYI/ZC_B+_M8`^:3^H_XB_P"U@#YH@J)I`143JE4.7M)R4I4Q#^T.`]A!/S\(
M"/7`(A7*4"]Y#E,;D>SX1,``/'7@PAUP#"+QLFMZ\@5['9!D$XU)ZA'D%BQ5
M?N'#MP`]B22#<3'*`'#M$ZG80#?3U#`,J82S>09,GZ2;A-)^Q:/TDUTRIKII
M/$@62(NEWB*2Q2C\0=>!P"M(X(<P%`#<CSZ@''0!'Z!'ZL`]67(@05%.03*'
M)C_#VE#GCJ'<!O\`1@$PABG*4Y1Y*<H&*(?24P`(#_"`X!%@#`&`,`8!(<E7
M,BH#84P7`B@H^[S[7N^V?VO=$I3*`G[@AW=O!N/3`,4JK&V)PR1;DI`*3PKN
M3.#5U274B_8,I_PH)'F3*/S*@D`=_/!.[\T`#`,C^54^LGXS?[.`5:1!3(!1
MX$0$?3TZC^$`P"9@#`&`,`8`P!@#`&`>&,!2B8>>`#D>/7`,;DY5RE(0[)M!
M2TBA(*KI.9-F,<#&&["E,123!R_0>>TOU`HH)+=0X'CD.0+RFZ3]LGPJ?F@'
M4H!Z!QZ"("'I@%0FJ53D2@(<<>O'T_8(X!,P!@#`&`,`8`P!@#`&`4WS2?U'
M_$7_`&L`?-)_S3_B+_M8!9(VU1LI/3=<;I29)&`39*/U'$6^0CCE?I^Z@#&5
M41+'R!RE_M"HJ',F/0P`.`9)@$I5/W2]O<(!_K`''!PX_-,/`CV\_5@&/NGX
M13=-U-J)(F,Y!'_@TW+E/XE>QO\`FH]Y.4A+W"8"E`W/7CK@%Z/_`,21,4NI
M#%!0J@C\)@,'0`XY-SP/U<8!A=W:6ES791K37T3'V/M1/&O)M!5S'I*$.`N.
M?EDS.&YSH<@50"J=IO\`5XP#(HM&2/'-!DUFJS\44OFSMDS)H&7!(A53)B)0
M.<IE`$0$P`/'T8!22,=-JH@1D^8-Q^\2JJ+JM5E548DPD^90:%3603"2,0H^
MVLH!RE$0Y*/&`6V&6_92#.-@>$*!7YR@Z6D57G>#I7AN!G+U-LH!S?W8`)2>
M@".`9C\TG]1AY`!Y#M$!`0Y`0$#<"`@/K@#YI/ZC_B+_`+6`5!1[@`P>@@`A
MS^$.<`]P"4O_`&1_L_*&`2FOYAOTOR!@%5@#`&`6XQP+(+B//P,6Y1^U5PN!
M>/L$O7`(8O\`PX_:'Y<`N>`,`HUECD4`A1#D2]P%X`3"`>H@'J(!@%9@'@]0
M'GGT'T]?X..O.`8LVA?DIV1G4)"8,:4:MFR\4Y<&5BT#-.`2=-&O5)JX,3DJ
MAB<"IW<FY$`P#)DC&,0!/^=R/T<?3]6`3,`\$>`$1]``1'^#`,1=P8OTY5)N
MZ=))R!T5_<*Z7*HDY3,0#&25`_>@4R0=O840*/U8!E""()-DD.H@FD5(1$1$
M1[2@4PB81$1,(AU'Z1P!\NE]0_TAP"G.JJF84TB]W;T(3DI1,(^A>\P"!>1'
MU'TP#'XBX0D\ZD64-,QLB[ASII2K-NY(J_CEE#JD*1\V!-,R!#F1,"9N.#B4
MW`],`RM,X&*7DP=P@'(<ASS]F`3,`8`P!@#`&`,`A,4#E$IO0>.?X!Y_)@&,
M.*35'5E97%S!1Z]IC8\T4PGE4`/)-(XRRS@6:"X]2(^^Y4/Q_...`9%\NE]0
M_P!(<`F$(5,."]`$>?7GKT#\F`1X`P!@#`)*QCE*`D]>X`].>G`_1]N`1)&,
M8@"?\[D?HX^GZL`F8`P!@#`(#IE4X[@$>/3KQZX!*%LB("`E$0$.!#N'J`^H
M=!YP"Q0E2A:^K+K1I'P*3DB>4?\`S<I)2)?FE"@0P-2/W3DC)N!0Z)(@1,/J
MP"_?+I?4/](<`?+I?4/](<`U_>*>ZMZ4*R+8[#5TXB>:3:;FMNVC4TFHR[Q2
MC)1%TW<'=LC@;]80!*4X@`CZ!P!F0EZ$*'NF4(DFFI[H<J#V`(%.<2_`)E`Z
MCQ].`/8(X$$W"":R)P`JB:J)%$U"E$#D]PARF*?L,0!`1]!#`#MHH+A!=)RL
MBD`@1=J@V;*`YZAV"=55,54@3+R`=I@#@<`KRHID$#@'`A](F^OI]?'TX!0N
M7#=1?Y0%T%%O;[CM/=3,KV<_GG;]PJ=GX1#C`*-S-M6;V,C#BN#N4!<K1)-J
M<[=+Y-`[A45W!$Q30`4DA`H&,'(\`'7C`+T@<RA!$W40,(>G'3@!_+@$[`&`
M,`8`P!@#`/!YX'CJ/`\?;]&`8DQE+,M.S3)]!(LH-F5L,--DD45UI@ZA0%V1
M2)!+YAB#13X0.8X@?ZOIP#("JKB8`$!X$0`?@^CG[,`KL`8`P!@%,NJ)`+V&
M+R(CSZ#@$I-=0QRE$0X$P`/0,`KL`\,`&`2CZ"'`X!**@F4>X`$#<"`#W&Z<
M^O'7CG``H)B(B(#R(B(]1]1ZX!&1,J?/:`ASZ]>?3`(\`8`P!@#`&`,`8`P!
M@$CY=+ZA_I#@#Y=+ZA_I#@'A&J*:OO%*/N=JA"B(B()D5,0ZI4P$>"%4.F`C
MQZB&`5&`,`@,F0Y5"&*`E5`2J`/^L`E[!`?M+TP`1,I.T"<E*4@$*0!'L*4O
MIP7G@!X^G`(#MTE.[N`1[@$!ZB'J''\6`4[Q)R#%PC'*%;NS(*E:+'*"I$EQ
M(/M'.0X&*8I3=>!Z#Q@%0B53Y=(C@X*+>R0BYR@!0.J!`*J8I0X`H&/R(`'I
M@$APQ9N$_9<)D42$Q#]BG!BB9,>XAN#<AR0W4,`E^WRMQP82";CGKU#Z^<`J
MOETOJ'^D.`3@````#T```/L#I@'N`2E_[(_V?E#`)37\PWZ7Y`P"JP!@#`+>
M)0&06`0Z&8H"/KU%-PN)/Q".`01?^''[0_+@%SP!@%O6;NSOD7";A--N1LLD
M9$40.<RJ@E$B@*#U`I>WJ'TX!<,`8`P!@#`&`4S9`R`*`82CWJ&.';ST`?3G
MD`ZX!4X`P"D4;G,<QRF`!$>0ZB4?X#=INT?P\#@%*2(9(KK/&S)DV>NRD*]=
MHMD4W+P$A,*(.G":2:KCVA.82]_/`F'CU'`*DC8Q3E,)B\`(#].`5F`,`8`P
M!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8!1KD>&<-S(*I$;E`_S
M!#]PG.(B3L[."B7H`#SR(8!68`P#PQ0,'`ASU`>OIR40,'XA#`+82*9HO5Y1
M%HV"2<D*DL\.0/=]HO'ZHJ@%$X)\ASV\\<X!/^64X$/<#@?4.1X'[0]!P"H1
M3%,HE$0'DPCT^P`_)@$W`&`,`8`P!@#`&`,`8`P!@#`(3!W%,7^<40_&'&`6
MY1$4N!$0'GGTY^C`)J*)N2*<AQR`\=>>@X!78`P!@#`&`,`8`P!@#`&`,`8`
MP!@#`&`,`8`P!@#`&`,`8!(62%7MX$`[>?7GZ>/Y,`FD+VD*4?4``,`BP!@#
M`)2_]D?[/RA@$IK^8;]+\@8!&5<IC^V`#SR(<]..G(_DP"?@#`*#_P`Q4_Y!
M/_?K8!+B_P##C]H?EP"YX`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`
M&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@$/>7^<7
MZ_4/Y<`I5UCE/P0W`<!]!1ZC]H#]&`>HG5,?@_/;P/J4`Z]/IX#`*O`&`,`8
M`P!@#`&`,`I70"($X`1ZCZ!S]6`3D0$$B`("`\>@]/I'`)F`,`8`P!@#`&`,
M`8`P!@#`&`,`8`P!@#`&`,`8`P"$QR$`1,<I0*`B83&````#D1$1$.``,`]*
M8I@`Q1`Q1Z@8H@("'U@(=!P#W`&`,`8`P!@$EPHFD@LJL(%223.HH8P]I2D(
M`F,8QN0`I2@'(CZ`&`8]"6"*GXU"4@)2.E8]<RQ"OHI\TDV*JJ"@I*E2>,U7
M#<YTCE$IP*8>TP<#P.`7$#F*;O`>#<B//`?3SSTXX^G`*]N<QRF$P\B!N`Z`
M'T?@`,`GX!0?^8J?\@G_`+];`)<7_AQ^T/RX!<\`8`P"`YRIE[C"`%#\XPF*
M4"A]8B80#C`/2&`Y>XH@)1]!`2F`0^L!*(@(#@$6`,`8`P!@#`&`,`8`P!@#
M`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`M$K+_=C)R\+
M'R$F9M[?#&+0*Y?N.]=-`0;(&42!0R8*=Y@$P<$*(_1@$T7Y_=;E^36!!5$%
M5ESF(06AC``E1<(\BH500'Z.0#C`*LC@AS@4H"///!NG`@`"//U]0#`)^`,`
M8`P!@%L<,5%D5DR*^T=1-0J:A>?U:ABF`B@EX^,$CB!NT>@B``/3`,:I=;L=
M?@&\79[>K>)A%9R=:R.X=A!NWJ*JHG;IN6,7_P`$*K1+A/W"@43E*'(<]1`S
MC`&`,`8`P!@#`&`,`8!*45!+@1`1YY]/P8!`5R4Q@*!3<B/'T8!48`P!@#`&
M`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`*)9H"XJ%4[3)*@)%"#R'<0Q>TY1$
M/3N*(A@$QLV2:D]I!,J21?S2E,<P!Z_S^>,`J<`8`P!@#`&`4SM)-=LLBL0B
MJ*I!3624(15-9$_!5D5$U"G(=-5,1*("`@(#@&-UJJ0-8C`B*Q#Q5?B4W+ER
MG%Q#)NP8(K.U166.DW:HHI@=4X\F'CD1P"__`"I_YQ?]/\F`5"*8IE$!$!Y'
MGI]F`3L`H/\`S%3_`)!/_?K8!+B_\./VA^7`+G@#`&`2'#9N[1.W=(IKH*!P
M=)4H'(8/P@/(8!$@@BV2(@W2(BBF4"IIIE`A"%#T`I0X`,`FX`P!@#`&`,`8
M`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@'@F*7\XP%Y^L
M0#^/`(?<3_O"?TB_RX!1A*Q9GJ\:628&D6J!'3F/!XW%ZV;*<^VX7:@I[Z*!
M^!X.8H%'Z!P"OP!@$HR")^>],I@-^<`]0'GKU`>GK@!-%-$O:F7M*/\`J@(B
M'\`"(@&`1`F0#=P%`#<B//7Z?7^/`(\`8`P!@#`&`,`8`P!@#`&`,`8`P!@#
M`*5R4Q@)VE$W`CZ`(_5]6`2$B'!0@B0X`!@Y$2B`?Q8!<<`8`P!@#`&`,`8`
MP!@#`&`,`8`P!@#`)*XG`@>WW<]P<]H<CQP/X!^G`*43N0`1X4'CKQV\<\?1
MR)1`.<`Q5.W./VS&GFJUQ(`Q/WJ-J7BD!IYA]])O]V-IA!TH)I</<[Q1.B0/
M:*8P&Z<"!G!1[@YX$.I@ZAP/PF$O/T>O'.`18`P!@#`&`,`8`P!@$I?^R/\`
M9^4,`E-?S#?I?D#`/5G"8$.!5D^\OJ`'()@[1Y/R'/(=I0'GZL`\:+`NE[I5
M"JD,/P*$,4Q#!_U3%Y*8.<`JL`H/_,5/^03_`-^M@$N+_P`./VA^7`+G@#`&
M`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`
MP!@#`)*R0J@4`'C@1^CGUP"G%H(AP)@'\'Q%_P"T40,'\&`8LGKVJ-[8^O;6
M"AVUSE(]")D[0E'I!,O8ML8PH,5'(CP"*8&$`Z"/7`,T2*8J9"GX$Q2@`]HF
M$.0Z=!.(F'^$<`CP!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`2!7`%
M/;[1Y[@#GGZ_X,`GX`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`
M8`P!@#`&`,`E+_V1_L_*&`2FOYAOTOR!@'HM$!$QO;+W&[NX?K`_('_&`C@$
MQ!!)NF5%$A4TB?F$*'`%YZC_`*<`FX!0?^8J?\@G_OUL`EQ?^''[0_+@%SP!
M@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`
M,`8`P!@#`&`,`8!"4Y3AW$,4P<B')1`0Y#U#I](8!%@#`&`,`8`P!@#`&`,`
M8`P!@#`&`,`8`P!@#`&`2NU'OY^'OY#_`%OBY^CIS@$W`&`,`8`P!@#`&`,`
M8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@$I?^R/]GY0P"0V,4I3=QBE
M^+Z1`/H#Z\`D,Y`KE19$0X,DX60YY`?B2^(2#QZ&`A@'[!#`+G@#`*#_`,Q4
M_P"03_WZV`2XO_#C]H?EP"YX`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!
M@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`>"'("'U@(?C#`)+='V$_;[
MN[XC&YXX_.'GCCD?3`)^`,`8`P!@#`&`,`8`P!@`>@"/U8!(27]TPE[>W@O/
M/=S](!]0?7@$_`&`,`8`P!@#`&`2!0Y5]SN_U@'M[?J_#S@$_`&`,`8`P!@#
M`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@$I?\`LC_9^4,`HTD?
M=`1[NW@>/3GZ/M#`*"-;"F[?*=W/=*NE>.4?19J@3CX%CF#M]CGJ`&'GTZ#@
M&08`P"@_\Q4_Y!/_`'ZV`2XO_#C]H?EP"YX`P!@#`&`,`8!"!BFY[3`/'KP/
M.`18`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`
MP!@#`&`,`8`P!@#`&`2_=3_GE_'@#W4_YY?QX!$4Y#AW$,4Y?YQ3`8/Q@(A@
M$6`,`\'T'[!P"D;D.4XB8H@'8(<B'T\EP"LP!@#`&`,`8`P!@#`&`,`8`P!@
M#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P"B/[_>;M]SM[AXXYXX
M_!@'@`N4JJHBH8Q$C@1+K\9N.0'CZ3=.`^W`*1J[<NV0+*M'#0X*&071=E[%
M.$1$GOI``\"FJ8.0^LHX!7M?S#?I?D#`*-@*9EW_`&`7I('`1[.WJ"`=>1*'
M</(CUP"[8`P"@_\`,5/^03_WZV`2XO\`PX_:'Y<`N>`,`8`P!@#`/#<"`@(<
MAP/(#](<=0_AP"V1_P`W[C@7:S=<!.(M?8:BV%NW$0X0.(KK^\("'YWP?9@%
MTP!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#
M`&`,`8`P!@#`&`,`I!:\B(^YZC_-_P"]@'GRG_S/^Q_WL`@C8UK%M_EF:*2"
M7>8XE1*<A!,8>3&X.HJ/(C^'`*_`&`,`8`P!@#`&`,`8`P!@$@5^%?;[?]8`
M[N[Z_P`'&`3\`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P"4JH*?8(%`P
M&.4IS";M*F4?]<>@\]>G\.`2VCE-X@5PDHBJF<RI2J('%1(?:6.D;M.)2"(E
M,00-TZ&`0Z^N`5.`,`8`P!@#`&`2E_[(_P!GY0P"C26]H!#M[N1Y]>/H^P<`
MI&:H%,\,+D7/:_'@JJXJBCW(<^RE^I3!/MY'@/BZ<]<`NZ2ON@(]O;P/'KS]
M'V!@$W`*#_S%3_D$_P#?K8!+B_\`#C]H?EP"YX`P!@#`&`,`8!"!2E_-*4OV
M``?Q8!%@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`
MP!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P"$XB!#B'00(80'\
M(`.`6WW5/YYOQX!ZF(F5((CR(F#D<`N>`,`8`P!@#`&`,`8`P!@#`&`,`8`P
M!@#`&`,`8`P"$A")E[4RE(7DP]I0`I>3&$QAX#@.3&,(C]8C@$6`,`8`P!@#
M`&`2E_[(_P!GY0P"0V*4Q3=Q2F^+Z0`?H#Z\`G%]CN,0I4^XQN3`!0^(P!QR
M/3@1`"^N`30*4OYH`7[``/XL`]P"@_\`,5/^03_WZV`2XO\`PX_:'Y<`N>`,
M`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!
M@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`\,'<4Q?3N
M`0_&'&`6]9$$@*(&$>1'Z./3`($O[0GZ08!=,`8`P!@#`&`,`8`P!@#`&`,`
M8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`2E_[(_P!GY0P"B26%(!`"@/(\^O&`
M43-X*SV33]L"A'J(E*/<(BK\PGWB)@X^#L[N.G/.`7I%3W0$1#C@>/7GZ,`F
MX!0?^8J?\@G_`+];`)<7_AQ^T/RX!<\`8`P!@#`&`,`8`P!@#`&`,`8`P!@#
M`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`
M8`P!@#`&`,`8`P!@#`&`,`8!X(@`"(]``.1^P,`HG"A#@7M-SP(\^OX,`F(B
MCVD`>SW/T?BYYZ=>/7`*K`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8
M`P!@#`&`,`8`P!@$M4!,F8`#D1#H'\(8!1MSH\'*?M$Q3<"!B\B'3\(8!:(O
MM"1G#&X[1?I`(B'02_+"*8"'T@'T!]&`9(04Q`?;[>.>O:''7\08!'@%!_YB
MI_R"?^_6P"7%_P"''[0_+@%SP!@#`&`,`8`P!@#`&`,`8`P!@%-[YO=]OM#C
MN[>>O/VX!4X`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`\,/`"/U`(_B#`)"*Q
ME!$!``X#GIS]?&`5&`,`8`P"F]XWN^WVAQW=O/7G^3`*G`&`,`@4,)"&,`<B
M`<\8!2?-'_F%_P!/\N`/FC_S"_Z<$T9[\R?^8'^G`HR--<YS@42@`#SR/7ZA
M$/Q\8(*K`*(71P$0["^OX<"C//FC_P`PO^G^7`/?FC_S`_TX!Y\T?^87_3_+
M@%4J<2%[@#D>0#CK]/V8&82.)R]PAP/(AQU^C[<#(\6.*90,4.1[@#KS](#]
M7V8`3.)T^\0`!Z]`].F`4_S*G\P/].*HFCW%20XF3[Q#@>##QU^@1_A^C!%&
M4WS*@#P)``?JX-SD50HQ\R<!'N(``7J?H;DI0]1'ZN,D$0NR&X!'XQ'KQP//
M`]`$/K`1P"%1VD5(_>(@<$S\E`H^H%'H&*@M[=RV7$X"<Q>WC_5^D>>GT]>F
M`5)1*4X*`(BD40,)^/0OTB/U!@%2+H#!W(A[@!SW#VFX#ZNOI@'A7)Q,`"!2
M\CU$>>`_"/7Z,`FBN0H@!CE,(^@)@)NH=1`>!-UXQ5`>^7CO]Q,2>O`=3\>G
MISSR'T],`\*X34`3$4(!2_G"?H`<]?41`/3`(RJ`/:/N)"!NA>T?SN@C\(]P
M@/IBH)N`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`(%#"0AC!U$
M/K^T,`M`%`#'-U^,>1#ZL`MT?_BIO_GV_P#]BC@&0M?S#?I?D#`*K`*#_P`Q
M4_Y!/_?K8!+B_P##C]H?EP"YX`P!@#`&`,`8`P!@%,Y$0*7@1#XOH'CZ!P"B
M[S_SC?TA_EP#G/RB\B&?C)K-+93^E6'8(.+76*:QK=9D8J.F7LM<)1&%B462
MTZY9Q:BSA^X(F!%%2&'NY#T'@#147YTF(\OU8V9H;;>HKG3-53>VHZJV5S47
MKK8%8@2+&E&]1D(*>?-1D8G@GOD6]HY>X1`IB@(Y=#4Z>VJ3:<UOV>/5@9+F
MCU%V3G;<E![JY?IWE-K_`,V-@[&A8JW#XG;DJ=`E-=3.P$KO8;'0T:\I%,ZZ
M\L;`@"RE'<B9[(LV9?;("13)F5X4*`AQFK36M'K.)2N*/#3?C5TV/9OV%?H=
M4\.*5:8XLP[5'[Q=IL1WI(MKT%M;459\@G#AAKB_6^2JK^N2LTWB#3Z<:X&"
ME#R#(9>+1.JBHJ#8."B7DI_AR^]RW36K4KEN]"4HINF-7NVOX'=O1ZFW-2DY
M45&ZMO#;LVDJ/_>1,96*?;88:-VDMXSH7A]KL^_`E*R[B%W3.P$K2EECJ,U>
M)VUS5SSI1;_.]Y02`O>!3%,)@\@V&873S>N]?V7N#6E'\9MB[;-IB-JLS:[!
M5KA38Q!S$VR'DIIJZC6MI?QRQ@;,8I4>TRAE#@7D!$1+S*=,*8&*>BU4IN49
M-0DVUB\N@P6U_O'):!UA1=UU_P`:]K7345_94\L/;8>RTV/6:6*X2Z]?1K<E
M%R<JQD2*Q,XF#99;VO;'O`X&%/XL/N+;%B[835UMMY5K^IW!`;0LR6JYO8NW
MZ!):@_9AM*S<M#/[#!VA\C!PK5216?A(5N479`=PV;F*5`%#G$Y@)QUR#0<3
M0_[Q:;-%439UP\<]@:^\=-EV>-K-9VU*V>J.7`C:WZL=5)J?U^Q=K66MQ$L]
M*`"\,Y.5J0P&6(F`@.`75/S0WE.;4V5K?6_C@QO4=J793#75FLZ^\:?7E782
M<5#RC::C(.5;D?R:*",H8IB$,90YR`'Q'$`'4M5HDN%_NHMVS/M,,M#JW)R4
MI<+;>;R>1T#Y.[EW3I&C-+UKS2*6X(^%C9:<V(B?9$12%*I!QD4+]RY:D?L7
M*MC72,4P>PF1(Y^.0$,JG<MW)<5I+A]LSE:'5.E)/M>)R0T_>*;%::JU'MR]
M^.O[%U3=%VUA4:"LOMZO23R3;["(JK]Z.VL<S$K1-@"'=[9EBJ$+T/Z"`UUP
MR'X[6M9R[9&U-X^<KW5ETWA5(:J1%H#4'CHIO9J]8V<5R3*Z<RYC`@7ORJ"B
M+1O[#8Z@G[P/S_!S+>.6!/H-;7!RHNEEZ\?_`"<WGMNVUYK:=8:FKM*L=>3L
M)92H>05>OMGB$#QR;MJ1W3F,$PD3$>+J`FJ)E0,UZB(&X'(K4C\?K7G*5/>8
MMY-><D]X][&W'4T:,VLD5K#QI;;Y,]"6=M9&0<*7Y&GC")(@W6:)HE:+F<>X
M)@,)@X'T#E5IL?C]9CPRDT\L68K6OWBZ6P&7A\]H%-36/Y%7'8%+N<18Y=Q&
MR6N)S75&D[!)Q(-T$W7S$@5TS`ARJ&'VP$!,'(Y+>&XOM:3469>9<<N&F.=.
MC,U)KW]X[Y!R&HJAY/;)T+2HSQRFKP>ESUCJ6R92=OE5:N;>I0D9M]57D+%1
M9HQA,-2FD%OF#F236]PGP%.<.327&U?O!]VM=K[QI%<8^*$)$:CV6QU['N]P
M;VEZ'*60LG68>Q,)1G$JQS@7152RZ9?A'@.\`$0X'-GK-#PTPKO^FOPP,'H-
M97]TJ=<B=>O/3R(@+KY!P-?I.APK/C5%TBP6N4N>T)JK!<X^TTK]KW+*@2IF
MZC*1`6Y%#,UERE!8"`3GN,`8];H7CA5K_#VY?+H"T&LK^Z7;(QZ6_>4[.LFP
M-3PE)::!UM6MF>--?WFUF/(Z[3E'+%RDK-.H!]76*T?PG)'150$Q._H?VS"4
MP\!D+5Z%+K?1[=E"'R_6/.4O_D9C=_WB5MTO8O%%ML]EK^TZ^WFRMW[67[3L
MK9;!$0"<>Y(VA+4RE)$J;<*BW,)$Y)4X^\W<&]`3$!&7K=$VVDN)Y8*B]Q/H
M-92G%+MD2=H^>.[((FZ6-'KNN',E4/*C5>@-=2-@=6;]F)F#V9&Q$HG,SZT4
M`OB.2$ET@(9$!(`&'@>@\8ZLA\NUWW2I[S(K5YL;^U7#[]IVVJ)K5+<FL--.
M-TTMS2Y>Q2^N;A58Z8&-ER.FSA1&Q,7<,N`E.(&$#]AAZ%])3VT)_'ZW.LNU
MF):;\Y=R7MA9)*4VQX86MPQTM:]F-JAJ&=O3Z_IN(>"+(-3.V$RX=QQ&<8_.
M1K)%+P9(#"<HB`9;:O6;4N*^JQ>77TD?C];ME+O,>U3^\OO>X-(Z8MM?@ZU6
MMO3N]J7JG;="MAY=-E`1=W0D%8&TQ)4"IO3P<XW8)+LE!,`."J"!##G5W7Z.
M-N<HI-J-4L*U2?Q++7+=5*<;<I247))NKR;,X:;A_>/?^IIGH21D?%OW`U__
M`)MB_9P^P3).:HC;2P;B`$ZDBFJVGSLA,(+=IT.XO\.>*N>2_:M/FCUY<ALJ
M/F/42HG3-[Z9?JS;/G?Y([4\?G>@(375JU13E=KWN:J]CMF[7#T*9#,V%;>3
MWS":[24CI`KQ-9L!2)E,;E/CD/7/9T_,=-.U&Y>C%7'LHE39C\3Q[G+M0IM6
M9S=O>VV<QCY];X::4\F;(ZF],6*V:->:[5K^U*)^U;W1UD:7IQ&LW*21G*QW
M4@I!.'9RNO864*D<.T1`0XSNYS/2VU_3LQN)JCPJUE1USZ#7H>2W=2Y*_=E!
M*E/J:SK4NNO?.S8,36]X;,N^]?&?>%?U5K.5MC6DZ$@MAQMM)/GD@91Z%C=3
M[ARU+%$DB@BNHW**I$Q,8"]O7,]_G$(V9-:?&E<F\E3;T>)LER..GB[_`)LF
MX5=.+!TQRKC7<S8]&WIYAP&R]2--S;(\3'\+M4*^:TZPA;*ZUY?]<M+?&I/(
MD]4?STK**;&<M'ZQ$$DTVR(.N5.PQP#DGE?GVJ):?)[5XF:KZ#5>P/-SR2B]
M6A-M96D48I_*C;VG+;N!>A6&V5#4]$UTNF2(E;!3F+MW(J3LT=P3ET98S8H`
M)C$*0.GH6KOGVXWFJ.:K3=780;/KFX?+[:7CS,;$UMN'QLG9K7DG='[G8%9;
M25QINUZI5Z^\E8MNI6VLE'N]?VUXNW`'1%%.U(IBF!,0]9ES:SRSZ;MI7'--
MUQPIFL-]2F[R=\U<9*].UP-*D6TGQ-*KH]CIGO-'2?DYYGUWPHJ?E78MLZK(
M&RU](.HN/::QF74=KYO;K.C$6Q21*WG2RMN9%(N3V?;226/R`^V7XBXM_P!S
MZ2Y-*&ECQ2363>:?Z9;MF)W9_M"=N^XSU5UJ#JZSE3)=.6/=U%.[\SMOQ'CA
MY-[*KWE!1=L6+6D#4G,#*1NB[;KZ)I3F?N:4.XEI<;B<I[$T:L%S=S-(GNF[
M`-W`'&:I<YMM\3TL>KAP?N-W_K<$TO42Q_QO#;O,DTYY?[VL6U)G7\?N/5OD
ME2/\I-B6FS;)UC0+)1%-.7RKQ39U6(*Q+R,G*UMZVL9W(F]KO!T*A3"4A2%,
M);_R.CDDW""ENHL-ZZS`_P"R+\G*2U5U1DZ_ZC>#RIC@L2P^)GEKNG;\OK`;
M/Y5TNPR-AKS^>GM7Q/C=<X*9^<;P\G)LXS_,1TN%<0323324%8Q`1<`/!3&'
MX<KGS:Q;=+=E333K18+L^.9IL?VB]+%QNZF<I.556;KNWE!5/*?S1K.BX3S&
ML=_UOL75#:\NH#8&GT]?.:[9J[5E[R-5D9F+M[.?=?/2,(V]IR8GL'][@Q2D
M+W#VOR]F]A<L*W%M?4E2E$Z=&VG3M.=3R+T\)2M79RFDFOJ;3K*C6=:[>K)G
M9O[PO?M]TII36EJH&P6>LOVXVYK:HRUXFX9E86M;K%L577>.W<>X$0559)E2
M*(I&$3@;H`]<FWK='&7'-1;_`%ZLL>X\QZ#52PC*5.MG`\SYQ>3/^2'F!,5'
M;50VHTT?(:[#7WD32Z&-8@;#*V.P1D?8:0M7G#B2:RC^-,Z]OWVX]A^X>P1$
M!`,;=6VLB/QVMK^^7:SM/<6[]SU[R3T]KZ(L:C.L67Q@W!>Y]@1FS%@_NE18
MQ:\1)_>0F!P#M%\L82)-Q%`H&[5N`YR'S^QRM^1<L0N3?U<32;IE3JP?:3^/
MUOW2[6?-KQH\W_)*7N'C,E(>2[O:-JVO-13:]:PV)I5UJW75>J;XJYYN1AMP
M.DVT?-S,>4O+-LU^94>'``)\`@(WV?[JT.N;TUS36[<9*O$HI--94?Z9/:%R
M_7)U<I.G2SZP>"NSMD;)9^2:>Q++)VLM`\G=FT2JO7Z"#9XTJU;1CTF$.L+1
M-NV,#-8ZG88WQ&[P`PB<!`,.OLSUTN/3MQBWE%T^'63'0:J+7'*377+$X$@/
M*WR,O\LXT15=GOH&T;5\X-W:GK>S)2!9O'VM-3Z\B2VU6+AHQX)6TQ/JM>]F
MW4<\B@)P$>``,]J/,=&VEPQKEE'P*%H/["X>%\PUSE3+SKV>U+'*OO/J#XTT
MSR5I#^[U;=.YH7=5.;+,7NO+@I#-*ULDB3I/YAXQMD3#C]S`C'E4(DD?HJMV
MF,(=<KN:[2-UBH\=.BC733+KS.[6ATGEK\/>O3T&^<YSDI_S+BDZM94Z-B9\
MVO++S+W!0_,YNYHNQ6;;Q[\<6&I8SR)UN>4BH^2O$QMV?FX)-E7_`)TYWQI&
MHQBC>0<^RH(?+E[A$.`R(:_1Q@XTBY8T;2?Z';Y=JV_W2IUR-V[!M>^_)3S"
MVQH#7>_+3XZZT\?J%KZR/K!KR-@I"TWNU[*0*\CF\ZO/$DV#.IQD<)#?\,)'
M*HCZ!W8CK]-&-(0A*]LJDU79FLJ[/=4/E^H_[DYJUMHY)TV[<Z5-:7.]>8(V
M+Q"\.K+OZ*AM@[<<;:GMB^1VLXML=_/5#61S2,9#4=NZ*YC8>X':BB2464;K
M(IG[DP*(FZ46[_\`><+LM1Z#1IK"2E&'#&O^"6"JLL.E;SB6B_L/@:CS#6O#
M#^K=J]O[N)^.>>14[PO?EMXL:<F]>NO(N+V18]B[^U9IS5.X'D9&.MDZM@]I
MK+FE9G8D,+AE7I69@&K</N;M1*1T=816+V^WD>=_>>HN*_'E^D;:PI"*BTO\
M*I%[LO@1#2?V)%</K]:EFWYMUNNRCKEGNZL72[3;O>GB=OG5.M9[R9O&ZM<^
M1]*V53D&=_<12MWIFT*35'5A-=ZG)Q4>Q+'5AX5LK[C=Q[Q4%Q*0IQX`,T+F
M7.+LO,YWIM+:L*G#*W"$&Y4K27"E5<.-'T&OEO+>12<ER74:F]J*?5&=RY-*
M%<UQ-JO%@VO@:\EO('=3+]V[X1['+LFW*;&NV[=(Q%OMSM^#*S3L#8-CS<)(
MQ[XY8TZ$A&R3%,K<_<D4XI@7GN,`&&8Z_2*X[E(T:P5%3K/47+;KK%5JL\>Y
MFF)SRUWWK:7_`'A]?M^RI=+7SBW;SH?CW<GTPG]Y:VVS1:2B_A:F^E_E6K5H
MRGEWA?N\"&."KD.T`[@SI\RTE4^&'$L,E[=07*[S2:XJ/K,I\@*_Y"Q%+\+M
MJ5WRQ\EV:'DM<](5#8=<B+E`H52O-+51F[B:?0IU*\>8:/W<J@<P)B4>Q90>
M\``!R?R>D?\`)#L7@9IVY69.U*O%'>7[R+L.Z=!W??.M:[Y`[7F(ZL>!,C::
MM8+/.*KV:%N;78:D>C?YJ11CF;`LL2*=_"<J0E.DF!1X.';C\EI/M@GU([M:
M6>JJH5PW%MHWF'N<]Q\4]6;$MDS%[7H%CL26W(2.F%)")W!4WVG5[KK_`&$D
MB[9LI.4@IIRBF10Q">P5R8R8]I^`&'S'123K&&*IDE[>XT+E5]?<:M6VML%S
MXIUWS`V9Y9>6M5V%MVRVR5K#33\&O8]2ZFAJQ*OF[:NV:H1;`K-W6U3,"I*/
M)!3WNXYP*(!R(S^3TE?VPX:;EX'/XJ]7;VL^E/G-LS8<5^[HG=I4"YV.&MBE
M-UM8W5KIZ1(.=D(UX[B7<NI"(N578PDA+HJ&`"`*AB"H!1Y#GBM:W3*?&U%P
MQI@MO=L=-QY%J,[>OG:GQ83:QRP;[.HXCO;3;]2\4O(?9;"P^=5*FX^MZN5K
MCW>NPZNHFX:2%GCY.Q.]?HU"0]]5XQ;J*HK"Y.D=9LH0I.[TRY\RTB_EA3_*
MCZ+4Z1:E05FG%&M>&G1G0UGN;>,W7-B>4BMMO'FPT)6I/63'5D]I:RECM/T2
M<MVLXK[L&_24XH1I%Q[FU.$E')GX*MBD$XF,)C`88_)Z/9&'_*C+^*O?XN\K
M]Q;'\J=:[>\5[%M;>4C#2.F]`T/9OD%`P-D2/0=BQ[W=+*FV64>D:($B9$Q8
MVQ,U`=$,#=4@&!$5"D-V\OF.CHUPPJ^A;2(\KNRRKWFROW>6Y]L[&\]]HV*U
M;2G+3J[<--VU<=2T9X^F%H>HPE,V>VI[56+;_.+P@(OXQ@19!4A"B*:QNT>3
M&S5J^=<MU>FAI;$+<;L4E512;:6-6E7':9G%VY.#S6'8?H-[S_SS?TA_ESPH
MPE!MNM&ZG)="?FE_1#^(,[!%@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`
M&`,`E+_V1_L_*&`26Q0$IN0`?B^D`'Z`P"T1:1RR$R)B_`:0((=2B`A\L/'3
MD?3D,`R$``/0`#[`XP#W`*#_`,Q4_P"03_WZV`2XO_#C]H?EP"YX`P!@#`&`
M,`8`P!@%*Z_,+^E^0<`H<`X._>/:XO.T?&5]6M=5B3M]I1V/JJ:;P<,M\G*+
M,(B]0SV6<L9(%D5(I=E'I**%<)""Z8E`2"4><`Y30\:-CZ&V-Y"URLZ\O>ZJ
MIO?1EHAZ1NV>GCW/9>OYEO`R"*^FK9.V*90D"5"4>J$/&BB)$DG)Q,8P@/3#
M<T$+MR5QRDG+JP[C9;UL[<(P48M1Z\3#?'G3EEK%5KT4KX1;RUYLB*T-8J(]
MNMBV;%V"EA,FUQ)0?N!6E;K(,#*2;WL32[42F2]P>1#IF:]RA74N"_>MM5_;
MPX]>&S8=OF%U_P`L<UOV>_M-L^$W[O*IU/2FE[)N)GLK_.2#HLZ@I6;OL*4M
M5=UQ8;1`.:]/O:U7'+MU`Q4@DP<`+<Z'<#3T2$O7.-/R:5B]&\]3J)\,DZ2X
M:/H=%7O.;FNG<@[;C%)JF%?$TLAI3RR@_%60_=R-]%F=Q4C]XZ_B/)-I;(F-
MUC%:M=6HUB9V-Y")^_/-[>T;.`[&@)][ARH)A,4A0#/:,1F5_P#W=%QVOLOR
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M5M'IF6*Y5[D3&-QQR'`&V=0^"E4D_(;R9VQO#5$9)KRNZH:U:3MCJ9=J2"=>
MBJM!LD54F48];%9&2E8TPC[Y#`(%[0Z9Y\N7PE-SXYXMO9M]QOCK[D8J"C'!
M4VG>.\JA.WK2^TZ7612"<M-"M5?A4G"I$F[B5EX=TT9H*+'_`,.5190`$YA[
M2]W/T9KL6E8@X1;:;KB5QU<HSX^&+E[SYV[(\0]L;(\+_$'1D_`Q$[:M:7C1
MCC:<"XE6*<:TKM,,HSL)4G*7MI.D0CS![A$!*HL4>.>HY=7"A8M?-3<U"%6L
M<_$Q?:/[O>9B[7Y*K>/=.HM+U_M/Q%6U+5XYC)JQJ,A?W<\]=JD<LW*CM5BT
M-'.`'W^\"B<@!]`\Q4E<QNI4<8OI>?=@9?XC>/\`M#4-[JKB9\'O&[3!"54*
M[8=LZ]V,VL=U=`UCDT2G+#HUB,.(3SH@_,F*X`J95!$W>`<#-3EZ^ZWBDXUK
M3V[3SS)\0MS[OV?OZ:H`P:<+L[P[0TE`NY6729&)>B;-;V55-RD9!4P,0@BB
M<IP$.3E$/P9XW,>8ZO3ZCR[%N$XN*=77.K5,^@ZMZ^Y""@HQ:7689->`FU(?
MRI\;]X:]EX=.CU]NG-;WH*TN"4:?:,?J.8UFVO561.V3*FYFXYX@D_,E_BUB
M"X5(=3XLPKG',6\+-OO\2Z%^WK'Y&H:A;I6L:MU62IC@S6]*\*_-/_TSP'A-
M<4="5O34C;74MLF_P%PMUBODE3I>^.;K,U2)@7U;@(!&3D4U?D3*BX4*5`YC
M$X4`#8_+\RK3R;?:_$U_CN5</'&]=>+I@L?_`(U2Z6C8#KPKW]5-S>1MVJFC
M?$;:T!M_:;.\5.2W2YD96<KL5$T2OUMDU,U)59,Z!G+R$`>$I`.#=>WC@0]7
M\;;^^?=X'G/F-QJG#&OO-HU#]WQ"6CR5W/N+R!UOIJ[U[8U1TZUJL"HW?2KF
MJ3=+@SP=A:LV#Y%DT8Q?RBAO8$A3<@4`$..0Q^-M_?+N(?,+C5%&*]NFI0;V
M\/MOS/EG$[LU5K_QHNE)B]"PFH6E*W6C)&BH)XTNSNS+/8&(B8.62:E3(<B(
M<E`O8L;@0'H+\;;K53GW!<PN\/"XQ;W[>XRM[X@;(VK8O&N;V[!ZAK$#K:D[
MRINPJ/K,L@>HGC]G0;:%8-ZNVE(^.Y330:D,<%&X%0<D]PG)@`PQ+00BN-3G
M6*KLV>XZAS"YQ?LCBUO.5HG]VCO^DZIN%(JNQ*/:[.[\J-7;SI5@V&^GG*Q:
MGK(C1O&P-FD(UB9VZ6+'QB"0`4I.X1$1-R!<\Q<WYE_LVNU^)[_'R[/BN42Q
M^G;NZ7U8=)O*P>&GD)MXN^-B;LOFN"[7V5X_3.BJ%"T-G-LZ70(R8D%9.2=J
MRDB0)EX^>/.#F,("!"J&`"&$`$9_+\QHV[5NO_%XG%=!&:A!SX*XNBRI@]K:
MK3$F:X\;?*UO57-!ML3X:P]>=ZDM&N'4WK6H6>+O1W4I51K\3(N)Y:/%8K1R
M[`JDD!>/>+R/0<Y6KUVN7EW+<8*..'9O9FYA<TVFC&>F;G-RHZUI2GNQJ8O-
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MFFU,M/;\M)2=,WGW=9RE=_`'9<!2M_Z3T?L.JUW3FU9JL7K7%3L$>\?GU7<H
MZS1,]:HN*;M#((+5&U.&`N5$>2J)J<D(8"=I2U>LN\BFKNFM0U#N535SBHJ;
MN"F+KMW&ZS#0<RK'F=Z]IU#]KM*-95K7BXT\%14IM9LYOXM;\V%";'H'D':]
M#S&NKY29*HBGIS5CZA6N/?.D54VLF::D9N56>"R<'*X`H#VF5+Z<"(9#_N?F
M$HRMV]%I7.55G>EB]E'/+JRV$_C_`.WTE.&LUTIII\,_)2:KC5QBZ85]^9I1
M_P#N_?('8UUTS-[QV]J&P0>D+;5+)#V^E:42KN[K(QH2@FJ\-+WEP\=F8HHD
M`J;A)H@5!P0QQ[0,`#F-<Y_N)NKY?HN'_P#Z_#C-ES3?VTHM6[NJ=[8I.TE[
MVJX=_0;00\*-PUJKN3:^WJT@+>7>VU-M-8R0KCF2UC9*YM1V@9]2-CUA)RW-
M9DXUDB!4W('1-W"(>@YFGKO[IE)SCI--&KP2\RBZ/W&9Z3ECNORYWW8V-\%>
MS)^Y^ZALCQW\3K)J[77D#%6BZUJ<V/OJ2L,E.RE8IR5&U['+/JX]JT1]P4]@
M/;'(L8QZ!7'!S*.CHD,)A$!$?0Y;<YAJ5/\`+V+4)1:X>'BQ6-?W-F76V;>E
ME#TLYTE&KKPU3K_APPP>9CT[X4W*1\(=5>*\+L:#C;/K7_+)PVV$,*^=Q#U_
MKRTM[$F0L&F_:R`D>C'IIJ`9<H"0YPZ9Z-R;T4'JM%8M7-5#&,9\7"WECPM.
ME&\C-;EYTU;U=Z['3RPDX</'3HXE2M:9["U6WQ/\HMIZDVEJK<?D)0)EE>6<
M0E#R-+U`:HKPJD?8&<J;[P^5FW"DLW!LV%!(@B!N3B<_=F*/]Q_W)%\2Y=H*
M]=]_&9K_`!W(9-<.KYA2N-7IULV?3\:==<#84WX=BRVLMM/5=OC-=-+GKV8U
MONFC-:^*U4V(S6@UXV`G"-2/F2$9::Y(G[TW7:8ZJ*BI%!,(E,'SUS5<PG<E
M.<(JY)MR2K2K>*70GEN%+:?"KU[RD_I;<6Z9)NBSIG3X,PG27B?Y*Z@B:%3#
M^3=7G-<4&&4KK:LAI2&C9V6@@C58MFPF;<2U+N5SLT%?<(JF@01.``/)>F>E
MR[F_.]):G;TNCTU^W*2;=SS*IK8N&25-N/P$M/RR^^+6:K5QFL(\#MI-=/%%
MNM3757_=P[%1KE;U#=/):;M?CM"6R5M+W4S2B5N`/92O)QU9FL3-6MHZ6DUH
M]*54(*H%(`J)E,!>P3<AZ/Y;G?,I>DUVBTEC33SN6_,XUP_4DN*3CBTD\,G@
M/3\ITB]1I-3J[NIBL(W';X'7!UX8QE@FVL<Z5.M?)SQG2\@JGK:HI65"G--;
M[.I>Q&_S$4WFF4H2IN%#)UE1JX?(=S86P@`BH4X"';UYYR7RZVU3CE3W>!5#
M77(2<N&+JJ//MPVLRW>7CW2=TZ6O6F)!4U4@KO&_*#(UQLRC%8B7(Y1>1TXQ
M09E9MBO&C]N10`$1`W'`\YP]7JU]/EJBPV[-IU'77(T^F.'7ENS.9M;>#%LB
M+HXV9N/?TUN:_0VHIG3=!DG5.B:G#5"L3IDSOI0D3$/5R34Z\(C[:SDYR^\4
M`Y)R'(^9J]5SB5Q>GTEB[#ASEQUK5X822HNW$U6]:I13N12=?;;WY&J:5^[`
MG6$%J2@;`\IK[L;46FK5#W"IZJ/2J/"P/SU9]P:X@ZFXML6SG0A_<#L(#@/<
M[0[^>N>=J9?W%?M>7Z/3VW5.L>.N&S&36)W<UMI1X[:7%EC[?J;3J?@MLN@7
M/8%DHOEYLJG0.P]M3&VY>B1U/UZ\@SRT]+I3$HR4=2L:M,?+/U2"DJ`+<@E^
M:(&Y'/3Y?S;^Z=##A6BTUS_,KCV4V31G6N;Q<8570_%4*=W^[AHSJ%M#)?9E
M_BKH[WU:_(VD;)KZ,;#3^M]A7)@2.ET:XJD4&3^%6:]Q1;/2J^[S\0CVACR;
M],4ZUSHQZGD_F<7XO1<*5.'^I1O?7CJG[Z=!N[QF\3HSQZ7NUGD]HW[=.SMC
M/62UQV+L200<O7K*)3%*+A6<-'"G"1+1DF<P&%ND513GXA'@,VZ;1<=M3N2D
MIURP*KVLLOZ-)I[6GL?9;XJ5WU;;K[Z5-5G_`'9GCQ-P&[4]B,/\S]A;TFK=
M/6#:=IA(5_=*\I9T"LFD74GZ+!`D/#5ABDD@Q1`.0!(ISB8W(Y;^-A]\^[P'
MY"[5-1BDMF_]2DF/W<T&Y&BVNN>0F[M>[MJ>OHS5EEW;2)>&A+=LZAQ)$DHR
M'O4>O#R%:?O8Q!!,C=XFT3=H`0`*<,G\<OY;DU*F:I5=P]>W],K=MPK6CK3I
MV[2\N/W<^FTM3:TUI4[7LRF6'3\Q/VC7VWH:T&#:#&VVQTY>VR=E9]RV<EFU
M+*Y=&4=MUTC-E!(7X``O&5O1\W<.!\TUM=K_`*>/7]%&(W^51ON[^-T;M/\`
MD:G1=34N+IQ;SZBBC/W;&D$-2[8UC:;1L^_S.ZK,SO.P=LV:S_,;.>WB(;H(
M0%CA9ANU0;0+FM`U(#!%J@FB@4H$[1``R8Z3G$8</Y76UV?Z>'1^RG<3/4<I
ME>C<CRW1*VLXTFU+I;<N)>YHNVF?`ZOZYV"IM#96V]L^0MU85YQ4Z3*;;DH^
M0:T:KO681T@Q@X^/9,F;>6E&8]CIT)175`1$1Y$<6]!K*_\`EZW4:BWFHS4*
M)[9+ABL:8%_Y+264_0:'3::XZ)RM\=6DZT?%)JE4853_`-UUJNIV"G.2;:WA
M9-7Z[OSW9-"\?[+;VCW45;LJ\@>39K(P1(DK]\E!OU%%8\B[DX-E3B<OQ`&=
M_C;>V<Z;L/`N?/\`48M6K2N-4XJ.OQV;$\#*K-^[@T=<M7^06IK>ZL\O6?(C
M9DGMJ?<.31!I:J7.1%L<DA3W:L<J#-6/.V`R*JI5%0[A`PB'3'XV%&N.='U>
M`_/:CB4G;MX)K;C6F-*]!M&X^(%(O-+T!1)J=M[F#\=[92[C4UQ>LAD9^5HK
M)5E#A9W!629'"2A5.511(D8PD#@>.>3Y;!_SS[O`\G4WY:F_*_)*,I.M%D6K
M=?A'K/?%JNUON#VV,I.^Z<<:0FTX.20;-C5%S,$FE%0*Y:.3+/?F4P*`*<I`
M7D>WD><?C8??/N\"_0Z^YH)2E;C&7$EG797Q)TYX2:8GMG:0W$^2GV>QM"5U
MM4:I88I\A'NI:K-HM*-)`6OV&H$F8WA$JH$,!>P_(%X*(ADOE\&TW.=:='@;
M8\\O1C*$;5JDFWMS;J]N_$U!;OW8.@[8\GF*-SWC3]86^2D):YZ(H^RY*MZ9
ML[J6>ED)4'=0:HB1BWDG)>5DVJJ)#B(CP`F'(_&VZ_OG3W>!U^?U"7^E:XTJ
M5=:_'WG6NQ?''76T-&R?C[,H/H[7$K6HJK%CX59)HZC8F'4:G8)QSI5%P**J
M)&:9.XP''@/K'G)?+XM</'.GN\#PKE;FKGJWA*<N)K95NN&WO+CM;05&W%J2
M?TK;SS(TFRP+*N2B4=(BRDE(Q@HU5;%1D")BJ@X(HS(/N%`#^H<\"./Q\.'A
MXYT]W@>GI^9W-//C4(2?37;U,P6%\.M,PRV[#@RG)9OY`1$-![%C9^5"8BWC
M&"JX5&.^08/&RB#)PC%!T5`#'!4`.`@(!A<OMI-<4\5T>!=/G>IN.+<;:<77
M"JKT/'+8UM--I?NS/'/[F-!/G>QII@?1L[XZJDG+>,J9?5LS/*6-O"KG=QZA
ME7$#*"F=BN/QH@B0![N!YA<MM_?/N\"W_P!@U'^W:SKD_$V1IGP7T#H6U4*W
M:YAYN,DM9ZE=Z8J"+F>>/6;&GREB6M,R+ENL/:_E9684*HHNKSV`0"I@0.F9
M=+R.UI=1+40NWFY2;HVJ*O\`PUH>)=N.[<E=:2E)MX98NIUU\J3^<;_1_)GN
MRDY4KL1P5(!P`!]0`'XLY![@#`&`,`8`P!@#`&`,`8!"<W:0Q@]0`1P"6W5%
M9$BA@`!,)N0#GCX3F+]/(_1@$[`&`,`8`P!@#`&`,`E+_P!D?[/RA@%$FL*8
M"```\CSUYP"@CG!C2LLAVE`H.&Q^[KW<J,^X0]>.`[>F`9#@#`*#_P`Q4_Y!
M/_?K8!+B_P##C]H?EP"YX`P!@#`&`,`8`P!@'@@`^H`/VAS@'G83^:7^B'\F
M`.PGKV%Y#_JA]OU?@P#P4TQYY(0>>.>2@//:;N+STZ\&'D/PX!Z!"E[@*4H`
M81,;@`#N,;\XQN`ZB/TC@`2$'U*4>@AU*`]#?G!U#T-]/UX!X5-,@G$B9""H
M?W%!*4I14/V@7O.(``F/VE`.1Z\!@'I2$)^80I>>`'M*!>@>@=`#TYP`8A#<
M=Q"F[1$2]Q0'M$0$!$.0Z"(#@`"$#C@I0X]."@''V<!TP#WM`!$W`=P]!'@.
M1X].1]1P"$$DP$1!,@"(`41`A0$2@(F`!'CD0`P\_;@'O:7@0[2\#ZAP'`\=
M0Y#TZ8!X"28=03(`\B;H0H?$(@(CT#U$0YP![:?`E["=HE[1#M+P)>OPB'''
M;U'I^'`(NTH`````!0X`.`X`...`^H.,`@%,@B'ZLH\#W!T+T-P(=P=.AN!X
MY^K*Y6K<W62Q)0["\`'8'`````<<``>@`'3@`SGT]G<')QQCF2Q02'CE!,>#
M^X')"#PI_>!TZ'_#ZY/I[.XCS;W3V_,G=A.1-VE[A``$W:'(@`\@`CQR(`/I
MEH/>T/J#Z1]`^GH/XPP!VE$.!*'`"`@'`<`("`@/'U@(=,`A["<<=A>@\@':
M'KSSSZ>O(\XSP!#V!_,#_1_+E7I[1'F7=QY[9!Y`4R\"/(AP7@3>O</UCS].
M/3V=Q/FW5E7M`IAP(>V4>0$H@(%$!*/00$!Z"`AZYW"U;@ZHF,I2_?D`)P`%
M["`0`[>T"E[0+QP)0`.G''3C+*1V9G3X:$T2E'CD`'@0$.0`>!#T$/J$,Y.#
MSL(/42%YX,'/:'H;\X/3T-QU^O`)2J?=P($`1]!$!`H\?1R/TAC@A/\`><RM
M0N?O;5"0+<![>4"CV#R7D2#VC]9?YH_9G+MVH+CMI.:RP.7I;'W,C%(P\"*?
M(@/(")@'@>..0Z]!X'.//U/^VNU$>DL?<SWV>O/M=1``$>XO(_@$>>H<Y'J-
M7]B[5XE\9SA%0C^U9$PB10Y[DPZB4>O:8>2\]H\]?S>>F=PN79_ZL>&F6)#G
M*?[B,Y>2F``Y$>O'IR/VYU*4HKB@JRW'+BIKAEA%E/[9NGZOT]/B#I]'3KTZ
M97Y^I_VUVHK])8^Y]YX*1Q[1["?`/).>P1((@(<E'CX1X$0Z9WY-B7U37UO/
MKVE#6KBW&'[$\,LMA"#?@XJ>RG[@^J@`0#C]I@`##G+<K'TZ>-8//&F)9;LR
MNJNI;4EEU>XG$(8#`(EX#KU[@'Z/JYQ&[?DZ3@E'?5%L=/:MOBBVY$_M#GG@
M.?KX#GKQSU_@RP[)7:/7X"\#R'H7J`_0/X!#.OI._H)!T3"(=J"0@`=/A3Z=
M1].0Z97*Y<@Z6XUCUT,UY7N+^B_IIWD2::@#P*12E]>"]@!S]`\%XZYQ*]J*
M80QZUXD6?4*=;K^FA-!,`YX(`<CR/'`<B/J(\>HC]><>?J_]OO7B:JK>>@!@
M$1`I0$?40`H"/VC].:J0'T$0$#U,0O(B(C\(=?P_;D.FS(Y=*X9$7`=.@=/3
M\'V9!!X!2@'`%*`"/(@```"(CR(\>G(C@'H%*'H`!]@`&`.THCR)0$?KX#G`
M/.PG7X2]1Y'X0ZB/TCT]<`=I?YI?Q!@'H@`^H`/VAS@$)^B9^.G!#<<=..@^
MF`6SO/\`SC?TA_EP")/JH3GKR8.>>O/V\X!<NPG\TO\`1#^3`(N..@=`P!@#
M`&`,`8`P!@#`&`,`8`P!@#`&`,`8`XYZ#U#`/```#@```^H`X#\08![@#`&`
M,`8`P!@#`&`2E_[(_P!GY0P"2V*`E-R`#\7T@`_0&`6)F'-@E^W\T#Q11XZ!
MRFQ>^YTZ?2H3[?X,`RC`&`4'_F*G_()_[];`)<7_`(<?M#\N`7/`&`,`8`P!
M@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`
M,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`>&#N`2CZ"`@/'X0X
MP"@72*F!1*)AY$?40^C[`#`):7]H3](,`NF`,`8`P!@#`&`,`8`P!@#`&`,`
M8`P!@#`&`,`8`P!@#`&`,`8`P!@#`)2_]D?[/RA@%"FL9,!`H%'D>>H#^00P
M"T1QA&6GUNG<FLQ[0_U1[FW8/(>OH;Z\`R1%0RA1$P`'`\=.?J_"(X!.P"@_
M\Q4_Y!/_`'ZV`2XO_#C]H?EP"YX`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8
M`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#
M`&`,`8`P!@#`&`,`8`P!@%([]"?:/\08!3)?VA/T@P"Z8`P!@#`&`,`8`P!@
M#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`E+_V1_L_*&`6S`+2R`32D
MZ8/0BK'N_P#[4"_P]1P#)&OYAOTOR!@%5@%!_P"8J?\`()_[];`)<7_AQ^T/
MRX!<\`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,
M`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P"
MD=^A/M'^(,`IDO[0GZ08!=,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P
M!@#`&`,`8`P!@#`&`2E_[(_V?E#`+9@%J:#[<Q,I%_-629N#\^H'*4A``HAP
M`%X'[><`R-K^8;]+\@8!58!0?^8J?\@G_OUL`EQ?^''[0_+@%SP!@#`&`,`8
M`P!@#`&`,`EJ*%3X$W/7TX#G`(BF`Q0,'H/I@$6`2O>)W]G7NYX].G.`3<`D
M&<)E$2CW<@/`]/\`IP"--0JG(EYZ>O(<8!,P!@$@7"8"(?%T$0]/J_AP#SYE
M/_K?B_Z<`F`LF/`<B`CU`#`)?](AQ@$I5V@B8"G,81$.[X"&.''(AZE`0`>F
M`3!5`"]PE.!>G7@/I]/IP"(ARJ!W%YX`>.O3KP`_EP"29TF7U`X]>.`+R/\`
M'DI5.X0=R7"J5(/G4OYBW]#_`*<GAZ47>EN;X]IZ<Y5R]A.>[GN^+H'`?C^O
M.3,3D2"0@%-QSR/I^$<`B.<J8=QN>!'CIUZ\"/Y,`E?,I_\`6_%_TX!X+I$/
MSA$H?6)1X_A$.>/X>F`1BN0#=@\\\@'H`AU]!Y`1Z"`X!!\TD($$.\2G*8Q3
M]@@7X#@02B(\<&Y'H'U!@'HND@`1$3``=1$0Z``>HCQUZ8`!TD*H(@)A-[8+
M=P%'VP2-T*?W/S1`Q@XZ"(\^O3K@$0K%`3`(&^'\[CM$0#CDHF*!A,4#?1R`
M8!"+I$I3',(E*7CD1#Z1'@I0`.1,8?H``P"2:1:E-V&.8IN`,`"F<.XG3E0O
MP]2$Y^(?H^G`)XN"!Z]P#R("40#N#CC\X.>0Y`0$/P#@'GS*?_6_%_TX`^93
M_P"M^+_IP"#YQ'@I@!02&,!`."8]O>*BB0EY'@>2'3'GZ..!^G`)Z:A5.1+S
MT]>0XP"9@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P"0NF90"@7CH(\\CQ]6`4
MA"B58I1]0,'.`7+`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`
M&`,`8`P!@$I?^R/]GY0P"E05(F40-SR(\]`Y^C`+(T.`6&5YY^!A#'']$YI(
M`X_#U#`,G(H50!$O/0>.H<8!'@%!_P"8J?\`()_[];`)45_@T#_2H!A-_`(@
M''U8!=,`8`P!@#`&`,`8`P"0NH9,H"7CD1XZAS]&`4WS*G_5_%_TX!K?9LCM
M!M#,3:K94>0L)I(I7#6^.YF.AU(TK=99P"3V%;NEF[OA+X3'()/X<`XOT[YC
M;!D:16MF[T9:VK-1OKJ>A-?US5,;LF_['GK%7)J3:234L&A$.4SQS>/AEE5%
MP*F``8HCVAQR!T3(>3]$6T5:?(.H2A+C1ZU6;!8C*0;*1>.G"]=;N3/:^>+3
M8??;2:0>HD3<HJ(=R"8J'X-[8X!RWK[]XI5)V>BWMQ92-?HL]H776WVDJE1K
MV64@I"S2\E$V(MB;N($I&50:+()&92!^T%DP$X]!Z`=/V/RQU54[>%0EY::$
MR*L*UE+2TI]CDZ)!25I225K$1-W-A'A`L'\LV>-G":?N',"2WQ]@\<@81Y<;
MXO6F6FIR4:5U7`K[$V$2J2ULVT>6+3H.+/!3,J>114B7;#YAR16.(`)J.40$
M#<=W.*H&"ZF\TG1JILR1VV%2GQU_LB'UE"7/0))*^5O:UCGT".&41281JX?R
MAK'%IK$"09BJ?V!,`]P]<4>P99FU3^:&J/V6C[/&,]CV=W*620JH4:L:WLTW
ML6&L$0U1>S$58*:Q8C)P1(QFJFJHX=BFB(+@`&$0`!FC(JBA0\V=72#^@Q<&
MPV#8)"__`'X9K'16OY0\C7TJW,QD5/.[8DY<-$J^PA5GIDW!U1$0,'(=`X&"
M3`D/-)M;MW:5US0:S9#UV_2VP6T[9K+3)2+@IR+J$.BZ+)Z^LXOCL),$903)
MJ<D,55$W<40X`1`VMMKREI^GK*E4I6J[*N$NE`(6V>5U_3%K+'5"K+*N$QG;
M6[3?M0BXY(6YNXW!C"4O<`?1@&J:%Y*W/:_E/,T*M-YTFE:UK>L69&;2U^=6
M/M<C<V"TE%2:-S7L+4T5%IH(@FS1"-<#(&]TW>04N1`Q@^P/,'8.PO(^/U==
M=1UF$TM<VM7JU-L^N[!*R5P-^R4;:A1D[9^V$`6+4E@>*-DUDVJA$13[NX>I
M0`MM4\^XEW6H[8]EBK*$0ZU/1+6]UG5:^%DM+*U6?9,SK]T@VDCOFI7S%5U'
MD*@F(%$G/?W&YXP#.)K]X!3ZD=-"RZPV]"EAHJ.F]I.'-8A6Z6G6DFV!VV/>
M$W]H:.54@9"FNX*R(LJV26(8>0-T`R":\UZJTM0PU<UEMR^U)K-(5>7VW2JP
MUE];QMH70`R42+Q"16F5@4>+(('5*W%%$ZP=QP#)6>\XN:2]K%Y%ATN5KV&A
M-1?O!K=9=7T)]:]%[-L&Y[M)[,*CK&C5B/83!*OKZSR4,_N9&\U9UFX0#15N
MG&$5.J4SR7$J0$(!PXZ5=L>XS?@.:I-RGBL\:=ONZMYN%GY]T"4GJ]"U"C;(
MN@R.M7&UK1)0T*R28:VJ,,[GX2T!>5'SYH#.QP-KK#N/<1J`J+E4*`D`P`.<
M&PV=XZ^4Z7D0U?2,;KVU5*&)'L;%7;-)+5^<JMPK<D0WR3F.FX&8<HQ\F)N/
M>8N0*Z:C\*A0$>,`U[M'S>2U;?Y"GV+3U\/68>XU>DR>R!D*2PB#R]I!DFV>
MUZK2%I:6ZQ0;!Q*MTW"[=`RA0.)@3$`$0`I(#S>925]FZQ-ZGNU;IL%N:6T2
MYVNN_KKVJ*WV+046(FDP27)+HUYZBF*@/5BE]LWP"`\<X!9HKRSO]XV[HJOP
M>L+?2M8[!OUQCF=^EE:Q+1^P:_6J[/E(FC'L'RLM64G4RQ*Y;N%"&(NV2'J!
MC%#`,P\B/,EEH?8-:UNSHXW6S3U96N(LQN=:JCU[&E?GCS,*>TLKEF2V6-L?
M]=]VH*%652`"$'N,&!1FGTO-7:M=V%NV'L^D+=*,T[WKBH:*@&\G6&<O9IZZ
MULL@2JRS;[S=N(%X42*.5W3@I$4$$C!U-@&;G\U[,X*O2H?0]I7\@4[2TJA-
M1O9^O-&*(KUX;22X.;^*ZE<)2EXA,QR+B8'!E!%,J8F+U`UU8/-:>I.S:<C;
MZ1<:1+W'7*L?2?'6:>QB-FG]E_MD[A@['1`,R<QAD.%CNRJ"4C0Q%.WXN,`N
M\AY.[NUWN3=+.S:VD;G0:FIIM6>59VZLM_\`+=K?(=@J]2A(A%BC)6XL/-N5
MCNN]R0Y4$_A-P(8!G_\`ZS)U:=DYIEI:<4T9`[(<:FE]I.K!"-9=M;FL^C5'
M,\VI"IC/34-I,.P)]X@NJ8YN0`@`'(@<[U'ROV[_`)*6*"IU<E-Q;%K]2W;>
MKS.O+7%5AQ6:[&VN\UFN(0H2#`4WDZX4A$CM$%#E`>WD1X-T`K(+]X&IKB@T
M*-GX./NCVM:0UA<]A3$S>6L+?9=_9H-A)*QE>IBD,XDK/8F<:8YU.5&Z:H\&
M()@'@`.OM:[_`+IM';5IJE=U[%?Y7U-K6/G]B/;*HVFG,K;:HQMT7'1]0^[5
M!6,C'O@([$7(?+J<AR;C`,$V=Y9777TSLR9C]6QMMTYHY]7X[:=WC[<W"R`M
M)LHAY8E*O4FK-XH["C-YE)=^1=1(3)CP3D>>`'C*]W%<=W>0%PV'-NG%+B[V
M_H^NHN/M_P`W!(Q:$/&32)U:D$&V^0>#%O43`X,Y$3&,;X1YP#OM-,J?(%YZ
M^O(\X!,P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P"@'_$_^^'\08!7X`P!@
M#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`E+_P!D?[/R
MA@%*@D10HB;GD!XZ#Q]&`6-FV<?M/-*J"7Y):,A$VX`'"GN)&D?<[C\_$'3Z
ML`R@B94P$"\]1YZCS@$>`4'_`)BI_P`@G_OUL`EQ0<,T"?2D!@-]7)A$0X^O
M`+G@#`&`,`8`P!@#`&`,`8!0/TS*I@F0.3B('`/K!)1-0P!_UA`O3\.`?+^I
M>.6^]::]\>+/2(6ES^S]&H[-@9:A6:>EHRO6R#V/9'<H[>0MD91BRL).QY_E
MU$W:K,X&;@JU$.U3OP#H#3.A+C1M#[$HMG>13C8&V)+:=TGTXEPJ%7K$]L_[
MS%S#5M4S%`Z49&'>@"8BF7W%#*'$`YZ@<ST+Q7\A92N;(<7MI3:Q8[CX;5#Q
MO81L//O):+96&FA8VB4@LJ:,:J#&3#*1;BJH0#&*83`"8@4.0,2L/@9LV2L;
M^+-!4JWTZ]2FOIRQ2]PV#M!D]JSVK5VCPDZP4J%:E(FIW:)5-44QC4E2-B$[
M1%8I^X`*!UUY3Z4V'LV"U*KKB,UY-6+5NQ6-S&!V29TG5YADQK<[!%CP^[HN
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ML54E(:+K.XJM\C`M9Q%8\?LN]-[2S%)S/.Y%\=1BR%9)0QUA$3B'0W(B&LSE
M+K[Q=\@8?8N@R6R]:S'3_CA(6X*?$UB*LK2VV>*L4&M"QR-@5=+C%-E85FJ"
M:A"@HFZ43]X.P3`4H&QMM:'WPXVC=+]HF\:PB&.VJ;%5#8,5M&OV&:"&4@4W
MK2)L533K[Y@1ZY2CI-=,[1X;Y917VSB`]G`@9=H3QL6T98IY\RLA)R$=:\U?
M185-^5TM.H!KUA)M%G;Z47,H50K\\D<Q0`G).X>..`P#3;GQQ\J(79^]I77>
MU-/U[7^\[0VLSJ1FJU;[!LBF+(U=E6%!KR9Y%K6'CXK9L8[=5X51-NH/<"9O
M3`+.MX".H-I&0]"OK>-AX'7>IJ2P-.1*<A*2KF@[9>[&G9:;<D*!%'4\F[$A
M#%#A)0P@````.`4&]?`:4V?NFS;&@I#32D;L$U?=6N2V9K$;Y>*Z_KS$D40:
M,HYDD*VXC'\<8Y!83#5XS0.`F*0PJFX\O6JMU?Y?U9Z&DN*-NCK^[]#.H'Q6
MW31;<\A]:[O@ZCH>P[&:;)L]6;TOV-AED%SM75P@JU98]ZVA(6OW.2:`X5(1
ME[K7O,5(W`Y1:U%_22\[3KBN8JG0\QJIJ4-JEAU>WN,(J7A9O/7[FHV>F;KI
M3+8%$=;/JT/-2]#>2\'-ZAV1>7>PT(*Q1!I=%RK:JA8UDE&;PJXI'^7*(D+W
M&`=4^><XN)QG!N+Z^KX8&#WFQ],^%HZ>F7$TQV7*R<A)ZCLE`G9-:(8IR#ZX
M7+8MEV?9]CLT157B&;Q[8+*9!-D=NHB1JW*7D>\V8L"2'QN\,WVDM@2&R+#>
MX2=GWM5/4GC>B4..UQ7K6D665ET+/=ZZP>/8B6N)7!P`'2*"`$`!X]<]72?Z
M*ZV<LU;LW]WG-WW86P;6TVC78B+V!?8/8[B0=ZS@YO:T+*03^#=MJO";(D5U
MW4=3"A!?`@FB50A7BI`'CUXUJK:7^;]&:M)+ANMO+A\#<JWANQ>PLI$2%S<N
M"SGE`KY)2921Z9$%%W4PV?.*FD0ZIQ2BRM43%('H!AXXXSSHQK)=9M=U4=$_
MVTS]NTI]=^'=MIUWU1).MXR\WK?2$C8'NO=:C5XF-`B%CC'+-5O9+(U6,\FP
MA5Y%Q\B!DP!-/M#[/=>9Y!D7DEXEO_(*5:K+;"2@8,U9<5&6KTI1ZK=$"-W#
MDZ_[75![/LU7E.O2:"@HE?-C"H0@%,42F*`YY.JA6\WU?!&_3WU;M\,D]IA\
M_P"#2\U-2$HPW%9*T#)YJ^PT-U&P\>ZL%5M^L8!:OLI9_,/EU?VB8R;98?F6
MBR92*]P\CF?@IB<ZBZKL4E7!E8W\)I!)Z>\_YVW4F\W=E;6"2V\G%5D57P-Z
MX-/"$-1%HY:GA5C0!Q_X(Z)S`OW*`H!CCQ9;7]2._B7Q,E,">X\"JC,&D9&V
M;"O%MMLG29*L+7696:+SD=-R5H+;`N-:.L#@M;>L)%,A4FC;M:@D4"@`<9[1
MR9Z7Q38K-MHEEKI.3DIMUAKQC:9Q^WBQ>%-K]!BS3>HI_*&35<3C5%4'(&^'
MD_T\\@!C+GPHA!FGB#+9-Y::LD-B)[9>ZB(>%=PY[RE/-9X#,[%*QCZP1U4=
M/&P*+1":GRHJ=2=O7`,8DO`.!+!OX:E[9V5KI2P0=TJUOE*X\B%WEGK%[M5C
ML\O&.3R,:LJQ=,%K"<D<Z0.11D!0$@".`9`'A"PCVC2,J&\-QT*(+1:50)AI
M69"M%>S\?0H]&)AYQY-R%>>RC*TNX]'VW3UH=`ZY#=IP-VE$`.@J!IR(U].[
M"FHYV[=*;(F(J9F@='0,=-S"U>#JK$Q%RMB+J*&91`F.<3<B<X^O/.`:GV'X
MBUZ_V2V2+B[W6*I^Q9:$F-FZRBW,22I7M6`3;)D929W4:YEH]C.I,TR2!&BZ
M0.2E#OY$H"`&[=>:SC=>/+XZBU%S!>[LM='R*[D[A%H[7A(6%%JP(<H"V:HM
MX<@)D`1`I0`.<`VA@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@$A=(R@%`H@
M'`CZ\_3]@#@%(0HD6*4>.0,'IZ?DP"Y8`P!@#`&`,`8`P!@#`&`,`8`P!@#`
M&`,`8`P!@#`&`,`8`P"$Y1,0Q0]1`0#GTP"4@D9+N[A*/=V\<<_1S]8!]>`3
M\`8!*7_LC_9^4,`E-?S#?I?D#`+"R_\`PAD_^3B/XY/`,HP"$YP(43&YX#CT
M_#@%O(<JD@J8O/`,4PZ].OO*C^7`/(K_``_/T"/0?QX!<\`8`P!@#`&`,`8`
MP"0N<R92B4>!$>/3GZ,`I?F%?K#^B&`85L/8U8UA4)F]7F8)!U6O-OFY:2]E
MPX6(F=1-LV;M&3-NX>/G;QXX33322+[ASB`!SSQ@&M];^1NN=HS<I3X>4F(F
MY148QL#ZH7:JS5)M`U9\LFW;6!I`V!%%X\K[UR/M"[*()I&$`$`'`-[^X`E!
M(3)F(;D`3,8I@'DP````F$P_'T+^'H&`0%<H$3]TBB`HE`QO=25(<G:F/:?]
M84YB&[##P/(CP(\#APN7%P6G2X\%MQZB5F4;J?B4/;!U*,6PJ(J.$"O'*:0.
MD4P+[AVP=X>^4O<'4O=ZYPN7<XE^R47C3"%:/IW$M='><?SGG;HZN2LL,FE?
M24ZOV-Q4;!M5G1)Y_J:`LC21"(>14Q<4&I6D>HRD3@DJN81:D/T[^N5RT2A-
MQO\`^LG]6ZNT[\V:7"LCL!K+QBQ6YR.D%#/D4G+,S=XF))%JLD55N\8I=XJ+
M-UTS\E,4!*/T".6V81L5X%GOQ,]^'J.'S'+Z:THZ9[Z9D99R`!0Y/OU@59%,
MRZR(OFPJH)%_/56)W]R:*?TG,`%#Z1RUSDU3"A5#2VH24TY<2WMLJ49*,>M3
MOVL@WD6::?<5PT7270.(\\>TN@8R2@&X^@1#.#0:,U=Y'Z\V]:=BU"H/':[_
M`%M+%AYC[PC5V2+U0G>1S(PKKD4W\(Q>H':G7`!Y<%[?00'`+];-Q5:NUR0L
ML/W7U.*E8R(D(FENXJ1D$'$F\(S]Q0[F5:-D4(X#^ZX$X@()A\/)NF`9DPN-
M7?RIJ\VL,"XLA6Q7J\$WG(U>5:M3E[R*C'I+?-G(8H]1[1`OUX!HK>GDQ'Z7
MM5#HC+6>S]J7+8<;9IB&A-9Q$%*N&D95"L_O%Y(_?UCK+4B)COR`7M<<]/H#
M`&MO*O6-^K=LG)9\MJUYKVQIU38,#MD&5(EZE/+-2/F[%Z1_(&8KE?-#@HW4
M1<*$5+U*8P!SDJAYCN:^KHEGN-J2FUM=0]=:W&7OE,A:B^3X8625LL"QAI`Z
MH#[*S*6<RY6*J:8D,)R@)C``=>`#*;MBU=EQ-.M-YZ&EO:A6VKF$J[NHY[W-
MYAUG3T3=9)[6'LNI5W-#95]NVL=-9I[">;&*D:OIUYT_L;1%-J":O>=4X]2%
MY*`@.+5F%F?';_=2F.)?*[.2HZ4,^K?D53G-("\[*?P.F(P9N1KY2VZ[4I^F
ML^B_EBKG0F(:Q/H=3W55S%!`#"X3]ODY0`Q<U>=/H[#GBZBY[KWS7-,Z5L.[
MEDCW&LP3*-D$4ZJ*;U[+LI&980OSC,@F]@46JT@"B@E$>$R&$/3,'H[&Y]IS
M4ONP-F*4.(JTD1E'SG[57&N5A,R\_&5QK'L;6_7:1\PDO)%4!^=MP0!0#XU#
M`/'KE\(1MQX8Y`QA[Y5^.$<22%_O#5R`0\>O)2@*W2OI+Q[*/D5860<NTOO(
MW1.33`@IDY5*8_';QUQ.W"XN&=:%5VY?M1XM/^^NZN'M0UCMWS/USJ:'->GL
ME`3.KR:\_P`P$;?"VFMO%9-`]O@*NW:1$3]Y_-3+97[U.HJLW_P_:)3!W%$,
MJ6EL)U2?:9UJ^9MXI</5V]QMU/R=T0E.5*L+;:I+&V;`AH^=JM5>34>G-2$=
M)$+\F=FBJLV3.5TH</:%4Q3*#T*`_1H-IK/:OFOJG7=RJ6N(^RUBY;&L6RZ5
M09&CPECC36>!;VY^1@26=1Q3.$5!8"4QUT`6]XA!YX#H&4RL6YRXI5J=*36"
M.QP.<$2F$0$_>8@F`.@\?2`?AXSGTMK<^T.38(J<3D`1#@3%`>@?2(86FM)I
MJM415EQS00,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8!(7
M.<@%[/I$>>G.`4A!$RQ1-ZB8.>G&`7+`&`,`8`P!@#`&`,`8!YR`>HA@#D/K
M#\>`>`<@B``8HB("(`!@Y$`]1`.>1`,`]Y`?00P#W`&`,`8`P!@#`&`,`8`P
M!@#`&`,`8!*7_LC_`&?E#`*$BBA`$">@CR/3GK@%E:F,$Y)F#\[Y&''T^D32
M7T8!DZ!SG*(G]0-P'3CZ`P#QP'*0\?6'\>`6YL'#U;G_`.XR?[U3`)D3_@6G
MZ)_ZPX!=,`8`P!@#`&`,`8`P"E=?F%_2_(.`4.`<V>6\4QF="W)A*:XEMJ0X
MJ0CB:JE=EE8>RIQ+699*N;-6G"#-\X<SU04!.2:MB)B9=5L!0Z],`^<$M+;,
MV-4?(F-UY/[&WIKIOXVW"%C-DW?5ZM,V[6KVUEFQ&FOX.70A*E;-@MIMHF>3
M4(8`(1TW#M.)Q`,`Q3>MZ_S+<[/MY*]NEUJ5]&^$=(5,O'7RB25Q=H[0L0V6
M,I;=3[O<%D3C(I)O101(Z-[!@.(D%(3`6_85`GW4-/KZYJMOK/B#_GS0G<K4
M)^@['FW23".UO:8"V6(^L&LO%7J0UX[V02$%VW25007<-UE_:%+A0\.5V"X[
M#2O+&+Z=@,JU1H1Q:+IXIQ5K@KA?=1L;IY"WF)<6NJ6BAUZK0X5:MJT9H6$7
ML$C*PU80FFIABT'[DBIE`."K?CC.5K^>Y\=OME_T@W+0MCSND](63QI<:/OU
MVW+%S]]AH&JJ4-[(4*\1UJO$O*1-TF+8T8C5V=6582!5WPJN"KD*0P$2.;M$
M>U*Y-<=YIWGC*F_:#4^S]>3DE9]GLY#4>TWOEE.[&J,QI#8M,">5I58IRJL6
M$8UK]W3<A4ZS3J@5!Y\^U741<&24*/M&/\``5!?%N!G[!KRT2VF[`^F9SR^V
MLXV)-J*V%<T[0"L[0Y8JS!!E/DWM`FWSU!P1`R8(F.3M(3@`P#I'74=?=">-
M?D,QJ.M+0I(5+;&XD=,T5D5P[<*0TH\C6=2D:^S=>RD$$V5E%G:+83@1-%(W
M8(B'&`:49>-_D/X^FUN_<O0W-!V_75BTML.!U10XJA6B"_:5J]LZ5R+/J/91
M1](A;5%$U7BJ!!2][WO:`>2@!RQ3="[:C==;@K]1TS9Y%:>UI2FT5<[1K$=.
M;&>S-7V%'/EJK9&<5,N*CL-6)8"JJI.)QS9T]`0Y.`AP`TV-+._%RBXI)TQ,
MQ)K#;,CY#ZKN1-!7.IS=:\D5Y"UC5=.L(I!CKYZ4C1&>EMY.IV0L=V<2K=/E
M9JP`L>BW5%%5N7@RP2TUF=7=).U;=QR@XK<WX'?WDMI?8VR?*#QDLE,>W.KU
MNNP6X(.X[!HZM:1>54)N.B"0Y5R6&&F03:N3L#D*"8?VH\]O439!D.<?)+Q3
M4H<+KV/HFO+5M1C9=J7&^[4VG8:PS\B-A-+A*UT8*.F9/7EL?P%-FD9!,11*
M[6;J-8)`.QHT*!A5"<*8'I1U.E7[H/+<O$T3HW0^UZ9'5^7W?XQW[:='BTM^
MUR(UG+P-`F)RMR%_N$59*Y9WE3CIPE0:,;%`"O'IG9`?[J]Q4@E`.HY+^KC8
MEPRC)X;%\SF=JWJGQV7&$:4I+!U6;PKAB9JR\4MDO$K)\[XZPM;@GMB\+Y>N
M:]<OFE_CZ(2@R2_^8#9.=LBZ[Z01@*DYX<$*7VA4#L2$X%R+.KA>GY:C-/I2
M\3/=TSM0X^*$ET/Y&8HZ*O=&O\?L:5\;9';NOX3:7E<>-UQ'!5I!Y#QU]DJE
M.:SN\51955O7EVLFPK#AB4XJD=L47("FF?O$"ZS.=%7W2]ZFOW=L_J2NZIC]
M?7A_K5LSA=05.5&=2KKHEC+,MZO&3,VLB#Z11:F,"JIU2(IJF'M.).N`07AW
MN#>-6UE7"^/&P=:CK?<.AKFO,[(D*$Y07;52?.O8I!M'UVY2SI8L(Q_7KF[P
M*)#<)]PAQ@&$:[\0Y"(>^/!Y?5M511J6^M_WZ^B^B*\_#Y&X!=EZM.+K/6ZC
MAR>6<S#84TS>\+,1[.P>ABD6V90@WYBJFN^JZ5\33TGXL;R+KNYPZ>M0.N;7
M^Z(FM1:/[-JIJ+S_`)'%V/5()HQ>E7CFCAW6$.\O";=J14Q2"8G7B)248N3V
M)LWO4Z)JB@TWADO$MER\==RRUKVFO):8NCJO;2L%"M;:QM-IT:HU"EUZ'95U
M5[$7YJ9NYN+=YKUQ$NUV:$(Z58>^L(]P<<AXBY_I6N+R[U.I>)1Z&:?"[EOB
MZWX%DK=(N5IL])TYKK7M1V"EKKRPB=[V+R#A-A4:1=FUW8K`ZED94'#$#3TC
M9FY2FCG[=4QU1(0/C.7@0T6^;6+L%.,;E'T+Q,MRV[4W"6:/O")@]OLXX$%#
M&Z!\/`^@!Z#_`*,U6-5#42<8J2HJXT\3@\3_`+1/],O]8,U`NN`,`8`P!@#`
M&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P"F%$WO>YR7M[@'CD>>G\
M'&`5.`,`8`P!@#`&`,`8`P"@=?V@?H!_6-@$@HB`]P"0.T!,/N"`$,4H"(E,
M81`"=WIW#R`?4.`:=IUPVW8+E+QUEU$RIM.C5)`L9:7-^B)E[/&1*D,>:*@H
M5@LJDR>"8XK_`#"R1R<!P0V`;N10.F8#&$OYO'PB/J/'UE#`*K`&`,`8`P!@
M#`&`,`8`P!@#`&`,`8!*7_LC_9^4,`E-?S#?I?D#`+"R_P#PAD_^3B/XY/`,
MHP!@%!_YBI_R"?\`OUL`E1/^!:?HG_K#@%TP!@#`&`,`8`P!@#`(#D*H``8.
M0`>?7C`)?RZ7U#_2'`'RR/)3"7D2#W%Y'GM,'0#@`_ZQ>>@_1@$!F3<W/<0>
MO<`\',7D#'`Y@X*(!U$/7UX$0^D<`PR]:^J=_CXN*M<3][L8FRP=OCD!<NT`
M:6.LR19:%DB';*I']QH_^/M$>TX!P8!`.,`S$C1$QDUS$,"P&*H)NXX&,H"8
M)`93K\8@E\/!N0X'`)QFZ1NWN`QNWGU.8>[N[0'OZ_'SVAZX!"+9,0*`BJ(%
M`_'ZY4.1.<#B8X`8`.8#!T$>>/HP"6=@V.;N,0W<*8IB)552`8IA*8W<5,Y2
M&,)B`/(ASR&`3A;IF`2F`PE,4""03G[.T!$>.T#`7KSU^L.F`0_*H=Y3^W\1
M.WL'N/\`!V@)0[?BX*/:;CIZX`!JB5,4B@8A1$HF$IS`<XE.!Q[S\]Q^\0X-
MS^<`B`]!P"69)-(3`4@F]SN$PB8YA#NY#@HB(]A2E'@`#@``.F=Q55G0HNZB
M=EI13=22FV1,!$S$.8H%$OQF.(\<#U$W0W=QTYYY')E&BK4BWJ[MV7!).CZR
MM!%(```*`%`O9V!^88O7@IB^A@#D?7Z\K-!`=JB<1$2F`1[`'L443Y`@\@`@
MF8H"'T"'TAT'I@%,+1HDE\J1JF+<2\"B).](2B81,42&`Q1`P^OU_3CR;=SZ
MII-E%S4W+,N&">5<*@&K90P`*`$X(!0[0X#L)SV$X$.W@I3"4/J*(AZ"./)M
MV_JBE4BWJKEZ7!-.F>TG?(M^"`!``4S"9,Q>`.F8>`Y(8`Y*($*!`$.O8`%]
M,&@F&;(G'DY`.````4X`<A0X$!`I3`(`!^?B^O@.?3`)`QS4>/@'H4Q`^(>.
MPYP.H3C^:KV@4W\XO0>F`3A:-Q$@F2(84SF4)W!SVJ&ZF.'/^L8>HC]?7`/`
M:-RE.`)@(G(<IC&$3',"AN\_)S<F'N/U^W(:XE1Y,ANBJ49VR"I#$51]XAB*
M)B54/<**:J8I*D$I@$IBJD'X@$!`?IS)^*TYE]?=V1?>6Z!J];K30&5>@8R"
M:"H=4S:(8MHU$ZI^>Y4Z;-)$ISF[AY$0'J(C].7PT=FU!6XI41KMSG>AYDOW
M/?V%]*@D/^J8/M,.6*W"&,4DSIJA&""8"`@`\@("'4?4.N2<D[`&`,`8`P!@
M#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,
M`EG2(H/)@$1`./40Z=1_+@$H[-NH':HF"A>0'M/R8HB'IR`]!P#SY1+@2\J=
MH_FE`XE*GQZ>T!>WV_X.,`JL`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`)2_P#9
M'^S\H8!0IG4*`@0!XYY'X>>N`65J8P6&7`O42QD(H4..1Y$\B4X\?2`"/\&`
M9.B8YBB)PZ@/3IQTX#`)V`4'_F*G_()_[];`)43_`(%I^B?^L.`73`&`,`8`
MP!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`
M&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8
M`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P"4O_9'^S\H8!*:
M_F&_2_(&`8ZP_P#PJD?_`-`Q?_V;(X!EF`,`H/\`S%3_`)!/_?K8!*B?\"T_
M1/\`UAP"Z8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`
M&`,`8`P!@%(<ZH*]I>>SDO\`J@(<"`<]>,`J\`8`P!@#`&`,`8`P!@#`&`,`
M8`P!@#`&`,`8`P!@#`&`,`8`P!@#`*=PH<@%[1XY$>>@#]7U@.`1I'[B%$Q@
M[A]>H`///3I@$W`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&
M`,`8`P!@$I8.4C@'4>/RA@$IH(=IPYZ@;J'TAT^GZL`QQIR%SE"%_L@KT2)?
MI#D7LESP;U'\>`9;@#`*#_S%3_D$_P#?K8!*B?\``M/T3_UAP"Z8`P!@#`&`
M,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`(3G`A1,("(!QT#\(@'Y<`A34!0HF`
M!#@>.OV`/Y<`F8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P
M!@#`&`,`8`P!@#`&`,`8`P#PP]I1-_-`1_$'.`4"RP*@4``0X$?7CZ<`EI?V
MA/T@P"Z8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`
M,`A.;L*)A#D`P"W-S@B981`1]TX'#CZ``H%X'GZ>F`65F/;8Y)<>I0AXE'M^
MGDSB15`WU<<=,`RE-0%`$0`0X'CK@$S`+<8X%D%QX'X&38H__P`URX*''V=N
M`0Q7^%('^H'/M_5P(CSVC_K!S@%SP!@#`&`,`8`P!@#`&`,`\$Q2_G&`O/UB
M`?QX!#[B?]X3^D7^7`'N)_WA/Z1?Y<`>XG_>$_I%_EP"(#%-^:8IN/7@0'C\
M6`>X`P!@#`(/<3YX[R<\@''<'/(CP`>OJ(X`!0@]0.00Y$O(&`>I1$I@]?4H
MAP/U#@'AC)&`2F.00'U#N#Z!Y^OZ\`$%(O!2&('<(]I0,`B80`!-P'/(B`>N
M`>E4(<.2G(8.>WDI@$.?JY`1ZX!`FX;JE[TETE"\F+W$4(8.XHB4Q>0$0Y*8
M.!#Z!P<RG"+I)I/I9'[B?\\G](O\N"%<A)TBTWUCW$_[PG](O\N#LA]]#^^2
M_P#MA/Y<I]1I_P#<A_S+Q+/*N_;+L9Z"J0AR"B8A]8'*(?QY9&<9KB@TX[UB
M<.,HNDDTP*J0=153`/PG*'\8XE.$%6;272Z",92=(IM]!Y[Z']\E_P#;"?RY
M7ZBP\%.%>M>)WY5W[9=C(O<3_O"?TB_RY<5G@K(AT%5,!^H5"A^7)HWD=JW.
M2K&+:Z@"R0^BJ8_8<H_EQ1K,B4)QQDFNM$7>0>?B+T`!'X@Z`//`CUZ`/&0<
MGGN)_P!X3^D7^7`'NI_WA/Z9?Y<``JD(<@HF(=QB\@<HAW$,)3EYY_.*8.!#
MZ!P#T3D*7N,8I2]/B$P`7KZ=1'CK@$/NI<B7W4^X``1#O+R`&YX$0YY`!XZ8
M![[B?]X3^D7^7`/!61#U53#[3E#^,<XG<MV_]248UWM(ZC"<OVIOJ1X"Z(CP
M"R0C]0*$$?X\YC?LR?#&<7)[$T2[=Q*KC)+J9%[J?7]83H43#\9>A0]3#UZ%
M#GURTX/0.0PB!3E$0'@0`P"(#P!N!`!Y`>!`?L'`/#*)D$`.H0@CU`#&*41#
MZPY$,KG=M6W2<HQ?2TCJ,)RQBFUT(A^80^']<E\0]I?UA/B-Z<%^+J.1&]9F
M^&$XN3V)IDNW<CC*+270"K(G`!*JD8!`I@$JA!`2F`#%,`@/`@8H\@/TAEIP
M1>ZG_>$_IE_EP`*J10`3*)E`>W@1.4`'N'@O`B/`]P^GUX!`+EN4PE,NB!@(
M*@E%4@""8']H3B`FY`@*?#SZ=W3UP"9W%#U,4/X0P#T#%$>`,41^H!`1P"$5
M$RCVF4(4W'/:)B@/'U\"//&5RO682X9RBI;FTF<N<$^%M*76>>\EQS[J?`>H
M]Y>/7CZ_KQ&[:FZ0E%OH:84XR_:TP"J1BE.50@D./:0P'+VF,/(`!1YX$1XR
MPZ/3*)DX[SD+SZ=QBEYZ"/3D0YZ!@'ICD*'<8Y2@'J)C``?C$>,`I73E-(A1
M]Y,G)@+R)R!R(B!0#J/J)C`'VB&=1C*7[4WU',IQAC)I=91D>@I_9N4S\!W#
MV*)FX+R(=P\"/`<AZY+MW$JN,DNIG*O66Z*<:]:(_F3]O?[H=G:4W=R7M[3A
MR4W/IVF#J`_2&<%AY\R8Q>?=`Q#=.0$H@//3CD.G7%-I6[MJ+I*44^M$H5$P
M`!$Y``>.!$Q0`>0$P<"(@`\E`1^S.E&4OVIOJ1'G6?OCVHB*H7H<IR<<]#`8
MO'V\\\<8<)K-->YDJ[:DZ1E%M]**Q%R3_P"*LF'?Q[7<<@=_!3G-V=0[^"%Y
M'CG@`SDL*H%$Q]#E'\P>A@'\_P#,]!_U_H^O``*IB/`*$$>0#H8OJ(F*`>OJ
M)BB''UA@#W$^>.\G/U=P<^HAZ<_6`A]N`#JII]O>H0G><J9.\Y2]ZA_S4R\B
M'<<WT`'4<`\]U+M[O=3[>.>[O+V\?7SSQQDT96[MI9RCVHA%RW`ISBNB!$^.
M\_N$[2=QA('<;G@O)PXZ_3D'49QE^UI]1Z9=$I1,95(I0#N$PG*``7N[>1$1
MXX[AX^W!T1&43(!A.H0H%X$PF,4H%[AX#N$1#CD>@?AP"!1P@D`BJNDF`<"(
MG4(7CNY[>>X0]0#I@'OOH?'^N2_5]H*?&7X.\H&+W]?A[BF`0Y]0'`)*KI$/
M@(NE[HB4`(!R"<>XHJ``%Y$1Y3*(_8'.`2T'S8X"4SMN*A1^(OO)=X`*0K!R
M4#<ARB03A_U0$?0,`F)/V*QS)HO&JIR$]PY$W")SD()A(!S%*<3%+W!QR/3G
MI@$TSA`AP3.LD502"<"&4(4PD`0*)P*(@/:!C`'/UCBC.)7+<724DGTM$7NI
M=?UJ?3CGXR].0`0YZ].0')HSGSK/WQ[4>"N@`B`K)`(!W"`J$`0+SQR/7H'/
M3%&3YUG[X]J/"N6YQ`"+HG$Q`4*!52"(IFY`#@`&Y$@\=!],49'G67AQQKUH
M?,-^!'WT>"_G#[I."]>WJ/=T^+I]N0/.L_?'M1024M'QS87;N28,6Q#D(HZ=
MO&S9N0RA0%,IUUU")%,H!@[0$>1Y#C%&=QG">$6F^ADJ'L$)--@<1,W$2Z7L
MD<&7C))D_2^7646(@N*K195/V53('`IN>#"0P!U`<)-NBS.FTE5Y%U,N@40*
M99(HF'@H&4(`B/KP`"/(CQG:MW&JJ+:ZBOSK*SG'M1X#EN//"Z(]O`&X5(/`
MB(``#P;IR(A^/.6FG1K$CS[/WQ[43`.0PB!3%$0`!$`,`B`#Z"(`//`\9%&L
MSN,X2=(M-K<R+!T,`8`P!@#`)2_]D?[/RA@%N`IC?FE,;[`$?XL`MC(H#89$
MA@Z?)LP$!_\`E=PD`?I^$5C?C^S`,G*0I`X*'`"/.`18!:E/\<Z_Y2/_`/LI
MU@$45T:)$^E(!`1^ON$1_@P"YX`P!@#`&`,`8`P!@$I53V@`1#GD>/7C`)/S
M8?S!_&'\F`:@WAN",TQ1R7J7AI"8C$K/4J^]2CUVZ!V#>TV!A!*S3E5R`IE8
M0I'@N5@]3)IB`"'/.`:^2\GZ0IY'NO&0T;,$NS?7Z=_3E2E26KRZ/OQR+FO`
M^3`4BV)N61*K\OWF.=$HG``#`).L/*O6&P:E%6N9EH77:5DN%SJ-/9VNU5]`
M]P/4;=*4].6KZAW351Y'SSZ)4,U'V@[@Z<CQR(&Q=G[9@M4MZJ_L38Q(FQW.
M#I[R86DXN,CJX>=:RJ[>5E7,@Y12%DDM%BD8"&$1%0!`>`XP">^WKIV`I\=L
M*4V=065$F3H)1MQ>6Z!95N065<J,R-XV9=OD6$@Y^;(9/V4SBL)BB`$$>F`7
MV-VWKJ84E6L5<JS(OX2!2L\LS:33-4\?7G"JZ3::=J"8A&\6O\L<P+'[2@4H
MB.`6#_U"Z6^^Z_7?\T=?!-VN.;R=<BS7&!3?S+1W_A5F#)1Z1RY1<#^8<A#`
M;I_.+R!>K]N+6VJH52Q;,N->HD(0Z:19.T2S.';+.5"F4^5;B]51.X722`HG
M*0INSN`!^G`*:N;MU=;B5]>L7:LSK6U0[V?KKJ-FXYPC-Q$:LU0DY&*,"X?.
MLHM1T!7*A>B)P[3=1P#2&X/,C1^J:"_N3N]U)_(N:Q.V:EU].RL2.;FG!I&4
M43C'#0[DS1NHX%-N5RX(D@+@_ME$Y@[1`P^3\WJC4)>I0]K:Q,3^V5HU?4VJ
MJ5F*^<0LOLND/KDD6S1ZK(CB'%B#`4$R]RA7AE"G(8G4,`W%#^4&AY^]NM91
MFT::\V`S,L5Y5DIQB61;JMVRCQTW/[RJ;0[]LS2.NJV256610*8YP#M$,`U;
M$^9^K[[O+7NG=53]9V"%D2V82[O8J75!_4W.O$8POL)L3M43/V[B3D3)&<HJ
M"EPF(@)@'H!9=O>=5+UE<MJ:Z3"%"U:FJ5.N$LA.R1XN/>,K-.K13\J;A-)4
M&B=?8MSO%%SJ"54!!,"]V`;*JWF-XZ7&BV[8L/M"O'K-`=-&-W=//GXQ:N/7
MR8J1Z#J,>MAE%5)LB9U6!$$EC.B<=G(\\30\O6K^HG7^7]6;`U1O/66[X5>P
M:QLS6Q1[!V+"8141>0TQ"2!6Y7AHZ5A)EJQDF3X&9P5[%2$+V#SW<8.=&EYU
M4]C-=USS*\=+=?76M:]L)![:D9-W"M"N(:Q1L!,R[!)==]&0=K?Q"-=F'Z"#
M1<P)MW"@G]DX`/3G(/6,8@O/+Q<LO[8*Q&SXD[&C5=S=)^4D&,M#1QZPSEC0
M3F7@7$M&LPL[4LN3Y<IF`.`.H=,`']87+UIN6-5<K:>X\WSN>_:Z=15H^<WC
M@XU\^V,QN$A)Q+"=:U56$BZK9GEV4M#YH$DT@4Z.C$FM0O%XLP."F^4]DR74
MIQ`!RJ<+,)<-AIV^C+I-MB6IE;KJTU>J^S83Y;S:\?(ZM4VT(V>4F8^_+V%E
M5FL!5+//S3^4JK9)W88A6`B(=[,QDE#-7"2KI-V@W]A,_)A^@9A"Q<EPZAQ5
MOIR]J5.=1+5PA71JMVO=_&A04OSI\<M@R4BRJEJDY)HPK4S;$)TU1LS2!FXJ
MM-P=V;]G91W$HMYIY74!Y=HHB*J)@$HEY#._3<MX:IV^/=\#*KW.^))Q?!MP
MV;>XI:SY^>--IB+18&MFL,9!5:"-:%).>I5IAD+#7`6;,RR]-2?12+JV-C2;
MU%H)6*:RI7"Q2B3MY,%)Z)0H>?6B3T^P7*8:;)J!:O)5B,F:G<]:6N`OJ1KK
M)LX>HR#6J.8\SYY$6!^\`C=<HASQU*'/3M-4VU,5Z[S6-QK2INSLPZ/&IENN
MO,?3^RY"MQ4`2WQ\E9;1+TLL?::E+5-]!6>(AFT\$59FLXBS5BEI.-7$[0`!
M4RX$$2E[1Y"&TUA4[T]SF$Y-:U-0IA7>8&\\Y=:-7TM;%)=^?5T#4)B?<E1I
M<XXM*ZD'L!KKA_*P[A%R+5_#*6"10;I-BMS++&4[R'XZ9R:C(6GG/IQU5K!9
M5(;9\6\@;=7:*6D3E`FH?8,[9[@@=W5&5>J[M(J\DWGV:9U$%P.4G!1`<`V/
MJ'R-H^^ZO>9O7K:PQ[JD3<Q3YB-O$"XKSZ,ML7%M7Z\?(,SJ+&*1J+Y,#B4P
M]P@(`/.`<W>./GE6+_4JD&SJ]=*G9[#$6E^UMCBD2;&B7J2I[J1_:>/I#E!6
M06<R$<W9^Y\N<A#+=WP"(\@`$5^\ZX]WKC:9JS1=C4.ZUW5=AVGK[_-2DJ1<
M5<:["*QJ!9MLT(J_<IL06E"=R+Q%$_;U,!0'H!L)/S0I<18*Y4I^F['.T7F:
MS0YO:<?35T-6L]B3X((HP*,F90CUV"[M<I2.6[0\>8Q@*5P80-V@3H#S;UU.
M;(7UVXHVUZ\V0V+:-1_Y@SM6;M]?*;(J;=9_*5HLTVDW*R8!'('6!VHB1J':
M)!/R&`6>&\\M92[=Q/NJ/M2!UVZK]BLE,V;+U0O['["859!J:4"L.F3MVX%5
MPZ<@@Q]\B1'I@`2&`!#+(6M+<5=0X)IX5[S-J)Z^#7HTVL:_H;(TOY,P6X++
M+TI:AWS6MUAZY"V\U7V"PB8^1?5N?=+1["28FB966(86\DW.@[2/V*M%``#A
MUSJYI^76\;$H2N;*8/X[BFS>YM.XEJ(M6-OMUF*P7E]7[EL6;US`T;8",=&W
MJ8UF.Q1CX:0K!+K7VBCR23D8UC,N[#$UU$@=@/GK!)!57@H<@/(4F\U3H;S7
M7DZS#LMOUVX5PK:M[!GD-O2$-&-:/=DM63=@9WDL4BPEGDG'O8V+;M7"2+A%
M,CAN83D,`%$,`RV!\^==/V%@E+;5+13F492WVP:ZX>RE*FQN]59R+>.*K`(0
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MD9_-R22*JB3-,I5`3)W<]<`Y[UYNW;V\_+*+-$)6^LZ`K^H:IL%$S64H"T)9
MG%_2>JQ)K/$J.7E@;O(ATW,@DDBIVD50%4W)3@4`-4>26\=MU#>%MB;#NV]>
M-]>B#12^DIQ/6+>T^/U[,H@B2=>[8NR4+)/HE\VFU3(N&ASL@33$JJ?<`X!U
M@GYA'K]-V_*3E=1L;[1.OM;7*QR]7?E"`O@;`@VDLDYJ2CA`YF;(GS!A`RGN
ME.!1[0#T`#$)_P`W[-5K7L%%/0TM+:BU5-U"OW[:)+[`$/".[PRBW,+)(521
M,1[(P;5:80*]7(Y)\LB85N!*02X!B3#]Y#49C:$940K57)4Y_8J^L*_--]LU
M9>\R<XG-/*LQFPU7%B\L"-3E[0R,V3>&6["(F(N/)#<9KM6>5W+5=5-1OUVX
MX;!^-GJOZRKPY9TR-?RWE9NOR'3TSK^JUV6\;6N^]E7&J1M^1?PEJM:%3U;%
MV5UL!TPCW\4,5`3#M_#IMHPSHBQE@,=9'@Z89-^SRNW;3T<N*]7'++'Y!\OG
MI7YLLGALV_P-L2MBV1X41]XF;KM*P>1FMI1U2HG3]4N,@W_SV)?[O/QE6-6E
M+:HE$Q<_4G(/2+%=*IF<LU2'[^[H7,8+-,>=>TJF]E]?W;QY;L]Y0=OT^V_8
MJ#V5%SE7FZ5NRT6*M5BR1EL^[RHMC1TA6ER2*:S8!;)`)B"H82IF`JZCYI[<
ME;`R0MFC(B%K->WI&>.FPIU'8:,D^:7Z<>1:$?,TB-)`-23U+(TETE%G;E1F
MJ8Y%"%2`0Z`>_O'-SN*94]=:J@-PQ&C;CLNPS,R:\R;Y-J2+J^MHMS87T>#A
M1`WM&MEB1CHPG':94BYRE$!')6L6B_J/;@1+2/6+@6S$PZV_O%/N#4'CCL*#
M@Z`Y=[JJ$K/SEAO-N?4O6D%::ZS9L9G7[6YMJ],,&UJ=6A19!JWDA;-DBE`R
MRQ$^3%K_`"EJ=(JOU8$+E#@W-K]KKLZSV9\O[+5+1LVXQM5KRDDIKS0%B.A<
MMXPK74M4C;^G/?/.E)MLBYB"N(HD.H?_`.]8NW$@F)0*1,`[A[.CH#Q&\JF_
MD[$;15*PJS2:UW:T*L69H-@>VRKVYG)5]"PQT]792781#Q5J]:./;(#A(HIK
M)&#D2E`1Z5=AQ+E3O?\`DY<6W#J/E)J&U[)L<`9Y2[)YDS_DTWW[;X***JM:
M)/QX^YXO9ZJ+RO6%W8V"U`2BT:6V7][V5"K%%("IG*80'"UOHL?OP["'R)Q6
M.SI1V%>/WADA0MOLZE8&FI0@U=G-=8R%:K]TFKKMF%C9-8@-[Q*-X6(<4F-B
MCKG$OW:NY%RB7M`QQ],Y7-;=V/D+^9]YTN3RM/SOM53,7'D+Y$7G4%CV8ZT_
M4`T9?J==)JORE&V>_B-FU:H-XF57@+!+INHQLS!Y.'8)D(V8*$79_,'%3W/;
M$!'1RNO9MI_YOW'8-CEK%^Q=*0\3:U2FT'M_8C<[>.V>>)2>EGJRNFE"6"1<
M"L`2#UP0CAP8.2&(&`=\Z8\A/(+:<S1+K_EQKE/QUV3*65C7)./N,RCLJ(C&
M+V42A)V<:S)FT1*DGD(X55&C<H.6G?V?$(#@%;6YB2']X)L>N&DEQ@H_Q;HD
MNG"IJO\`[K:2SR]R[)>2:)=JC<'2K8A$Q[@*<0YY^G`-:W#>>R*%NK;%:UY5
MX.8L]FWSI/6,8>^7:RNJ\H-LUK)VI208P+=5VRJQ8,S4J:Q6A4OO`QN\0[R@
M(`814_*WRA]Z.EK_``>DV]'@_(S_`-+6Q4Z8XNA++.6^4F6L-&WNDR#XR<9$
MPC!9ZG[C%P*JRA0,8JW4`R4VE@<?AYS=5_/66SK_`%.5*+Y-;KU@<VXV(1TC
MJFB>*^[;],ZI?V.X2S^0L=6\A;-54K&PE7#DZ!+',JNDQ6.N0S1)D04DN5N`
M""8Z)Z'Z'_-B;N@_WB.ZRP\_7YV@P\QL*?=4B+U5<H_6^X:1JYE:-@71O1(^
M!MQ[Y&QBT@6OKK&D5UD7::;YL3A#XSDP='0GB=,;D6\F?+:N;KFX2;L%6@-"
MLTT:FYFOV+50=52??+R4=7[`HJXB)"1!@`*@<1$1[3=0'J!HZPS^Z+$->V+0
MM@P<%/[/\]VVNTDI@DRZ@V^N]4NK!6*S56D<P>M#LF;R0A7+B13[^]TJX(`C
MVEX$"7J'<^]=5PL)8YZRT*?U"^\D]M:@D81X$^OL&,D3W"U&:RZMED9%RHDN
MS/'F208^V)"-/9X'GN$0,VT;Y9[WO.SM;JR%6?3NK]S/)%N1.(T]>X$FLF:[
M9U(1#]ULNQR#>#NA/;;BS<BW9HBD<WN%`2_#@&]MVZ8L]9N^T?)RL[*LR;VO
MZAM!HO6B,4BZK1[!$TV29Q,LFN*Z+U=90[OD4B%$@>WT'D38!SC7=$>/=>TQ
MX_[^E=CVO76Q9YUK.<E=R0-EEI:Y;(LUH*0'5,FQ/(RL9;&LW,//9.D@@H9J
M1$1Y+U'`)\3Y-^1,<I2]U3TMKM_IW<6YGFEJWJ>+@'A;_1#.YR3J=>F1G'$B
MBE-O2SL2=U(M'+,A6C=4HE/VF$<E5V'+Y:]4_.6ZG8:[UIOOS=V6;2[4VX]7
MP9][T7<EJCY1'3I'P4=35LXFBQ;-VB]@*C,+3S!Z1)V*P@0HIB9,"B.35DOD
MEW.K[BBCO)CRIW*QISRC[0UGJ1!AXRS>Z+>60H:5AD;3:*5L>9ISME&C(223
M2!HDN6&.JL0ACKM%50`AP`O.15D/D4^WJ]O<87<_.G?L^DUV-JFSO#U9DXT^
MK,TB&TN-JH562NQ*LK;X#96W;!/1!8^XLD)%1=%%H9T1-LX2,(&%4#%8TJ1^
M!ELSZS?\'N'RLD+VG='>W:*CK5OYB2OC@XUDPJ$4!'E.4=+QS.:4MR3\\I&7
M"&E"`?VTNYL+8OLJE,?DXS66\+DEQ.B;Q1:*!<MI^5%C@?%;:CXY%]91^P7/
ME,ZBHROIC+RM1V%&?Y)J,S&35=Q*=B;P*4D'MD*8R1#IG,8HY#KM.ER]Z/\`
MJ/)X&]SZZ@_&S?7B;6Z&[D&4+:8W;VIK#%N3@^<6QDWCI'9]4DII8I2H-T(B
M=._$%BI`=+Y@B?=V%[1BO#]6X./$N'?@:/\`-G?&]M>WG8*>I=D7!FTU?JRN
MVB6K]9UMK]]6V<K)H2DHUE-L[`V',PR,=&3[6#5;IMXD?FTTS`(ASU&/S%J.
M%$U6NW#J.5R:4OJ5<<,UU,QAQY1;S2W%3;C8+TXB]/35OU9`*FU[7ZG?=3-"
MWFL09)&D7MRRF`V#6-@NK3/(%C71D3LBMUDE!$4R\C*O*\O.CA&7\!^#G6E<
MUE5'VS9G((B7@?<`@<F_GD*82E/Z?#WCR/:/4,ZE6BJ(:):7':\.PK\Y.Q@#
M`&`,`8!*7_LC_9^4,`E-?S#?I?D#`+"W,"=J?(\"(JQB+@#>@``*@EV"'J(\
MASS@&48`P"U*?XYU_P`I'_\`V4ZP"**_PP#]!AY*/T&`.>>!^GC`+G@#`&`,
M`8`P!@#`&`4SDIC%+V@)OB^@!'Z!^K`/"HE]GD2?'V&^ON[NO'3Z\`U%NS7Y
M-GZDV/KU4A"JW&E62OL5'#<5T$9*4BG#2,<J)]HJ`+*1427*<O'MG2`PCP`@
M('RV-K+R27\8S>1B6J95;RUC=F'V3'ZE.HHPFGK).OM=0R-3>.#"S%5.7I97
M$J7@4RE<G3$!*8O<`&E-J^*NSZ&V0I:>NMN7:K37CGK[6E5<ZKIFI;-)-K;#
M,WO[30]KE+W&/#ZY([L<]\ZC8&+D%DCMU3G$>28!]*]N:MG++K'QNILE2G>Q
MT:[LS1#F[L'Z\?+.VS"JLY4TI/R[U9DE$232(?E2,YY1325./IVGX'F=Z.G@
M[\TG""JUO^'Q!QC?M3[4J-D,C3_'B:&C([TW&[CY*G46A6^Q5^+MD+3U(Z0I
MM0N$@VJ,#3K7,%>&<KG:K@R5;]Y"AW#SG7]Q<M7_`.W66WB\08BEXO>0,5HW
M13:C:UL5>V-,);7T!N*/EYJL(O8'2^QKC.2XV*9<5@K2$FFT3'CVMC,`*JB+
MHGLIE(`ES3&['415^VN&W/%+<GL/3M6].X)S4:N*QKMVKK)&P?%/;4=LG8FN
MX2H;VDZ#=KO39K4\_K]WK$-=UZKQ<77J^2#NMFN=?F-CTQU7$JW[Z@MB$;.B
MJ_`!C#R/35#-J8VX\*@DI4QZ\.EG9?F94MUSQ])+ZZHDS9(B#7F4+-9Z'":[
ML&S:HY<1+1I#!!QVTE8R`80\JX(LG(/44C.D4BD,"9`$2CS*_#3+S[D>.$<U
MOV;#*K,M1_1A/@E+^;##;MP.2-*:N\H]+I4NS#XW7"P2T8Y\AZVYJ[;8>N"R
M""&P).O/:O;)2:]QA$JQ[I%-<RZ;4"G06*8J:1BASE$N?Z%JBTZ662>Q]>W(
M[7)M37'5[-\?#9NS)#_QT\B:=I62J\=XS1VT+;LOQGCM2NTU;A5$QUG.Q$E/
M22C65>V`@)2T<Z-8"NT'#`5%3.621#E*8.XMZFKB\R*I&6*6ZN-/<<.+A]#?
M$XX5WTPK[S:UCT#NB,M*5PCM6.;(A6]@^+DT$(WFHII*V&-H6LE:/=G+=5ZL
M,8Y3C)"0.<04-[JJ"(>V)/7.DGL-VEA8E;;NI5KMZC5T+X@;\D+@UJ,M7=NQ
MPQ-GLEJ3VB^W/42ZRCQFTY0S*9@J["UQQ=Y*QBH[(@[9JK$3]@QD^XQ.HJ/,
M[U$-.K3=M14L.O,W%I/3WD*AO7QC7N.A(O7]4\=J%LF@SFSF=QK$@\NHSK&-
M90DQ$L8PJDH,7+#%^ZN@^,9PDLL<3``B`C!YQL+R,TWN*]["W*VJNO$9^!VQ
MI:AU1C<U)B#CF4)8J=>W\H^B)2'D%DY-RSD8M4HIJE!0G7J/:/0#7V_/$G<U
M\N.S+14(YJ5H\A?'&PU2%:VXU-"=LNK`GF%GJSEXP!R6)=J05@-\E)F3[4G#
M=,!$0*.>%S+\CZA>DN.-K@6"IG5]&ZAZ^AM\IG8;UUJ,[W$\77!45,FL*UZ<
M3=/B!H:]ZQ6VS;+747^OYW9SJ#*2(L&Y[!O:5,6"@5H]M*6&7EVC*-;..\Q"
M'3:^[\PF404,(\9FT\N:0N\6HN2=NF6&>S867[/*%!>DLQ5W;)555NQ;S]F<
M.1OA?Y=7>?UDKLN.*R<4O85YEK/9S[D*XI2\+.5?8U;@G&GM/5RI1D55`9J6
M-LZ%*45%4BP";W3`8`S;Y^H^YT]Q3Y>ERX5W^WMT&W6OCOY47;5U4U%9Z%I.
M@Q.E:K4Z]6YKYW]N)#;TG1)BJSL4HS6/#L#ZVI\J2M=[MHL=8ZLBX`QB&*F/
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MF0>QR9Z&T)%-EFIFZ";CM?+G<%,`HD$N/U%_[GW&8JJ_X0;O2G;78@B-:UA"
MW6?QYLIZZ-ZV%?IMHOJ*Z.)B>"8M]S;&4E'$JS>")01[41%,.TG(`8?2T\I2
MLJ4G63K\31#5ZFU%0MS:@MF'@3O+#65@H-;W]9SS[6$V/N#<5$M?CBYC(F=L
MKU#8,)`-:\DWD&+.,=*(&&.%0%#J=A"MTP$1RO5W)PBG!T;9Q._=NQ5N<JPC
MDJ*B[#9MG\*;PXBZ7#4JSQ4>RJ>EJK0DPL*;U<DA:8[;==V3/R+QLW1,DDWD
MTX]<A0.)@*H?X@Y+\..W?O.<4Y.CDOB5%O\`*C7$IK>Q6'R,3F21JC:_:)=5
M!ZC5;5;HR*D*I%6&M2KC8<3#'3EV51>D52*K)M06<1J8E51()S\CZQ!L#P9;
M7>S5/>MTN)`&4V1LF6EHR395*<IE:DH[]GHR+9R-7BK&X0M!X%%RP[$G4BW1
M=NP2]XW/N`.`:PJ7AGY&,*QKG7%HVG1F=6TXML.R:ZGZ!&VMK:!O%R96>-AU
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M-^Z)^?C7Q''DU>-T*_)-9..1_8NY%FBKU%VY(4ZKV43;RG`N53'*<Y"@(=O3
M/3M-RMQ;SH0:A4\(-LV'5@^.=XW-$KZ/K=/M5+J;&KT@K"QV>/D#H.*`KL99
MV!H1)+6@QS8Q4HL@!++(D%<`$#%4B[8LWJ>;%2IU_H66KUVR^*TZ/W>VTV?X
MX^+=LU5<Y6\75[IPLBK76=5A([4FL3U4IVZ*202$W99J8=R$VZE99RE[PM6Y
MFC%J8Y@+W#P(UPT>EM34X02FLGCXEMS6:F[!V[DVX/9AX&#R_A;<I3?B6T"6
MRGQ<,EL]#9*\_7:._K.XI:(2`2NM53-H@Y>*KTY5'8!P9:2:/'!TP`G>'/.:
M3,;&D/#TL[K:@:[L-K6=(UBN[;K<W(-61V@3+3:D;/-')/DFHD;!\BO*$5/W
M%,FJ"7:7M[@X`TI&?N^IB0J-MIM_M&IDH>9UNTUU"+:TTA"U>8*>/>,GT9;[
M;)2TA(/IJ5:KQB!544!007()P,0>G%%W36+[4KL5)I4V_H7VM3?L*EJ3BFZ[
M/U+XAX0[!>42_14G?-7P]VLZ-<3@G>O],1=-IK5]6K%'VQ&7L#5JZ<V*<6E)
M-B8KE,'C1N4%C'2+W``9%O2::U/CMP2FMN/B3<U>INP\NY-N&[#P)ZW@_:)?
M=M7V]>[U2IUQ6[<%Z/(5K5D;6-F2[LK)NA^R;R\$D#*/Z@1^`G*B\]]3Y<`(
M7@Q3''09S<.Y_'?9%SNI[MJ?;334[^?JBU+O:KNBQ]O/8((CE5:*<,%9%ZT/
M%S46V<+-TE#`<"D4Y,!^`P#)M,^.,9I>;:2U>?BXBX[45%U<BP,T*E)/%JDO
M)'6FW;Q%4R8'?&D.X"?'[?`]0#C`-3[.\4]GSUHV1):WWQ)4*E;E2:%V;2I'
M6T!=`?.F3$*^^DJP\E'B2$!(3##M.H<4%0,*8*=HF#D,/,?4/2OTLG&]Q+%;
MMILT#TT=2GJHJ5GA>#P5:8&O;C^[T=N856DZMW9:=;:\FM95+6=YKRM?B[>]
MM[.B/"KP;XL[/C\_7G3EL*K=<S8%2>UV`0I>,\-KG-?IO2I[O`]6W?Y5P/S=
M/#CKL;P3W8XT]U<<BQL?$79]YVWO0;1?;15M)7#:U%D)ZB.8B*?L]M5JEZ^@
MF44+"<.LK)UF$?3#--O)HII"=0J(E`2B!ASZH^>,[I7@R^H^P&\I6-O/(/3D
M1;)6_P`)J$-9T-:1CK%(OU)4\4ELUPP>6Y[3&LNLHNDR,4BPB8.U00`.,]W2
MZ>]+CN13EOQ\2ZWJ+]I<-N343-'WA=&.-)4G4K6^VRO6+7ESD-D47;%<9Q[>
MQ5JWN9V=G43I-9`D@D\C$0L"S=1JN!B.4!,0P\\9AUFEE:LJ6@_IWN+-8X4=
M5C7;0UZ;5*5VNL7FVJ?M;IC7!JFW/MQ-;F\`TK7%;2D]R;=NFRMJ[+0KR+3:
M*,2QICS6Z%&?-+!3D]?5*(=*0\0#2PM2/%#F`R[E?N!8W:(D#S(?E^)<=Z=*
MK8LOF>E.YRQXV[$*+I;K7#/9PY[F7R#\'EPF`NVQ=P6S9FV'FP-27.9OLU7H
MF+2>0.G9:0F:[365:BT@A64<:0EE5ES`=0RC@?<)P(`(?5-(\UW]#FH1I1]N
MS;^AG;GP_@5!N27[960I+OY+P/DN_59LH\BC>R5Y>K/&]>1]P#IFA')ZPJ!C
M*@8_N/3&]>!!@0K^AI_IQXO>;(#QYK#[?=CWS:CJ6J3F:'`Z[@:W88]D^@:E
M$QLF$I,.&39R5P4\C./D4E%%^/S4P`!XSBY:M7*<<4TLJE4KT(6U&Q]-RKJT
MWBMGN.;+#^[\@GCVS/:7N?:>OT[3<[7:@A(EE5I:IQL5?VJ"=DJ*%/L\1*P2
M3)5=LJY!Z=/YQLX<C[8]H%(&2[H["MR=J"5U1='C@Z8/W,6]7?=R*NR<K?$J
MK>JXKWHLTY^[2UFO#,6-0OFQJ+-0<9K)A5;#%O(*3-!NM5+2KB$FW4++Q+B)
MGW$NO-NCOFSP!2_6<(E(`%*'A4YO3_7G7W>!ZRN\NKCI[=/^+/=6NS?1UZ#H
M?QW\7X'Q]5V%+1=ZNMVG]I2,#,6^7NSF/.\5EX",7KWWA&(QS)@A&-5&3E,B
M;8A>U)-,A"CT`<]/3V^9.RF[DG)[<.GH,M[5V%<X(P4;<<DG5;'3QV5,PT=H
MRNZ%J3BDU9]-2,:-GN-I]V<42>N0D+G/NI]X=%Z1(ACI-3N>Q(#B90H!P81S
M59T]R5?6UFE^VNQ[:4ILH)Z^U<>-%'VPZF<LK_NZ=?N[?+SZ.T-T-*U(;1B]
MN(:V93T9"TL+A%2[><5<2"98%>7GF$A(-P,H@_=*)'*(D`H$X#(OZ2S"S.6G
MBHWU%\+VI[&6PYA8G2-U)INC6+JO=0NS?]WEK$9*7.O=MN.*F\0NBE:U@I;U
M@U[KA]>XIY%3[JLQ#9DD#A3A^H=LF[.X3;F4.*12]./#IS?9>GW8=V):[O+T
MJ/3VJIK&KQ6W"N&%<VZ8&VFGAUK$C.P$<+V=56RMM3(R$@=\W^<`-.(-4J>J
MW4<LEG2"B`M"&<B?N5<#](9Z=FUS!VX\5R3DUT>!@NW]'QOAM02J\*OQ,;JO
M@SJNJWR&NC&Q;0D8>IVR:O=.U;,7E\ZUI4[E85G3F5L=<KI$`.U]UP^742;*
MJ*I-S+'["%`2@%GDZ]?SR[O`K\[2/#@@MSQPZ*5SZ<N@N6U_#FK;8V`XV@.S
MMSZWMSNGQ=&=2&LK\YJJCN$B)E[-)'=>PQ<G>+**/#!RKVF$?7KCR.8??*GN
M\"?/T?\`MQ?:OUWEWAO$_75?G4[.>>V#/3Y[-0KHZDK3<'4PO)S^LX!Y6Z^\
ME%A9@8PN8AZ8K@A>TZRA"_4/+R>8+*<^[P(5[2/Z7"/6D^ZKV=Y.4\5]:N89
M:&(>>58RV]&OD6\43E0:G'9;"61DQ<*`M'J$3K[EVU`JK(0[S`'PF#@1"?)Y
MC2G'+N\"^.OM*2DL%%4IGAATYX&!L/`C1:,?5HI=2ZN86J5K8]*-#K65XFRM
ME+VK-O[+9ZY<T/E4CS,2-A?'=M&X"3[O<$(J02G#NS#JN7<\U,T]-JKMJ"5*
M+AQVUQ1Q<U=B]1SA%RIMKXH0?@3HMC"6V`GGFS]A#;H1A4W,GL/9MJN<W`5R
M'=DDX.'K<DZ=)#7W$#+@1TS=I$^>25(7E<2=,XL<JY_9NJ]?UER=E?ROAQ35
M%E%9/'W%;O:5/"$'VY]ILC1_BYK_`,>G]SFZI(["LUDV$I'+7BU[$NK^[6:R
M'B&B[&(7DWTD(K*J1;!TH@W(D4A"I&XX$>N>@K.OSXI/L\!*[I)+]L8OH3[,
M\C7*_B5$SI=GTBTNGXZVL>W([?VNW%5F96MV^E[`.Z^?LQ2S+9-,K9F::5.X
M;$((]Z;E8H@(<<3Y7,,:RE39EX$J[HOI?"JK!X/'I5&;+B?%;345"1]=1KKF
M3BX?9SO<35*9G9:16'8CY19<UA?KN5557RY`<#^I$PI@8YN2B(\YY^K7-87$
MK=R:C3HWOH(5[2?S1BL-S[L=^\M-$\.M%:^O[38%;K4^G+QRD@ZKL1(7"V35
M-JKF32,22<5>J2DFZAX`SL%#<E(D!>1'M`,[Y<^8O5+U-R4K7"\,*5V;"N[<
MT[A2VH\6^F/QIW'4AT4E4CMU44U$.PS8[<Z111%-9'VC-SI"7L,11`_:)1#@
M0'/?,IQY4O!#QIJMXC]@1='DG$C#SY[95X23MEGE:!3;`H50QWU(HLG)KUNO
M>X8YC`"38I$S=4P*.>;Y6NK^Z5>M>!L\S3M-<,.NCKUX.E>HR)IX>>/L9LY_
MMN-U_P`7-^\D)<CC[ZG58&&G)IDJPEY^`J*LF2JLIN4;*B"[I)O[HF`#!VGZ
MC#M<P>*G+N\#GU-R'TV9<-OH^/6]IFU2\>=05%E06U7JJ;5/6T/:(&BJB_E#
MK1,3;C`-J0(*HB!ADUB`=3O`P@H4.WM],*UKUG.7=X%EO6WE+ZYMQIT/NP_@
M<R2'[O#2<QL6K2TM5XN4UA2=<,:C4*@JZLS";C9]/8$A>Y23DI5M*,2RE:F?
MO$Z+F.7*JDJ;KV\8=GF%&U.3PZ/`T?DDXT>$^C],<\C9-P\"_%'8$ZXLEPU!
M!23YT+!5RDG)3K2(6<1;5FQCG`U]H];1A73-BP0235!'W`31('/PAQXJESC;
M=GW>!D6LU&V;]O<;@:Z!T\2-)'A3456B-_':!47#Z1,H;8Q5A<EMGNN7A71I
M?W1[B\F]GZB<9]#H'?>DCZAN5VKJWGFZ=QR]9J6ZJ;[O`U=XY:(LFMKGN_:>
MR)>EVC:.Z+;'RKZPTBN.*[&M:16D7C&BUM8'3QVYD'T8R=*&=+B/8NX$QNO!
M0#852NW)Q4)MN*R,^G=3R5@W]6-P3$_\W`T?7TW4Z?3D4?;3:S]O?MU+?;)5
MT(@9=?[EBVK-DDF)3$`ZH_2.0TFFGDSA-IU68V!XN^/6WK"YMVR=34RW3\C!
MFKLBYFHM%TK,00$7`L3.-%#`QFFK<CA3V?FDE3H=X^V8N9_1Z5XN"K[_`!+X
MZK407#&;444:'BCXTA::[=$]-Z[)9JZI$?L](J0;8SN.5KK7Y:%51;]XLE7\
M,R`"M5U$CKH$*3L.'83MOA"-N*A!4BLAZO4TIQR.DR))IB82$`HF,)C"'TB8
M>1'K]8YVVWF4RG.=%)UH3,@Y&`,`8`P!@$)@*)1`W';]/(\!_"/3`*-EW<N.
M>>T%0[.0Z=O:'/'UAS@&)$64&\NB%.(@-?*9,H!Z@5Z4G<4..O`\AS]>`9H@
M*@E'W.[GGIW!QTX^P,`GX!:E/\<Z_P"4C_\`[*=8![$_X%I^B?\`K#@%TP!@
M#`&`,`8`P!@#`&`,`I'?H3[1_B#`,8L-B@JE#OK#9Y>-@8.,2*XD965>H,6#
M)LJJ5LBLY>.3)-T"J.3@3XS%`/41P"T/]F:\@J^UMDW=J?%U60^7^[K+)V"(
M:P$C\SS\M]VRR[PC-X#@>2D[3<F,40XZ8!-JUYJMY:FD:A8JY98\KQ=D>0KD
M]&3L<59(0#V@>Q:[AL5P7GXT3F(J7Z`-G,_VND>-TRRKT5Q!F`(CR'>"*A>O
M)A/QV?P=>>[[0],QMW-FD2_XO_TG=(^W\"49$_(]@)B7D>T"J!SQ]'`>G^G+
M5>U4516&DO\`%\C3'4Z>*4'*C1#VJD_^"H;G^9V&XX^OXPRVW<N3KYD.!KIK
M4JOW+=QK@:="P6JUUZD5R4M=OE&=;@(<A59"5F%T6C%LB82%*LJX.I[9"&54
M`@<B')Q`/40RRD7A-5CN,T^/A?E/AN;'G3W%T3=D<HI.&(E?HKE3514;<"59
MN<QP^81,82D5(4"@/0>![@Z_6\O2_P"VC/P\P_WU_P`OS*XHE$W9^L`P``F`
M&ZP\`/H!3`3L.</]8`'IUZCQC#9D:5Q47$ZRIB][,#V#LFAZK@%K;L>UP=+J
MS=VUCUI^P//NV/2D'ZGM1[)55TFD!5WRH"5,"]PB8,E.AHM7O+35*E*UVKKI
M[25]D,KI6G%$;QBTNI;BR[8:ZG&MR`9R^7EDA6:H-&XCV&,8>X%`[>W);J3<
MO\<'&E*F<1LBSEV+:4CETW4:_12=QSQ(P'2?,7"956SU$0Z"W=)'`Z8\CW$$
M!^G.3.:ENGD/I?75KB:+>MC52J6^>`#Q%>FY0K24<MS/2QR+]5H"2JC2+=O%
M"D0<*]B:G//0`$0`H+-Y-:*IVPH75EEV958>]V(&AX>OOWRS9RX3D'`,XXR[
MP[3[G8+RKOE-B@NY3</A#A`B@],GZ/YHILA\?\KHB0OY/Z-2V@CI<VP8,-FJ
MG10-4E'!D)!.2<ART@#*K)$C_P!I710$2,17!80#TRJ]:A=APP2BZYG=J=R$
MJR=50M5:\L]"6_:,EIFN[`BI#8T5).H=>%%"48LW4M'$45EHB&GI*.9PD_,Q
M2*1O?:,EUUTCE,4Y2\<CD]$_N[OF:/4]!T29?L$!4(8B7/:+CVS'0,80Y`J)
MB=QU>>!ZB4I0XZCF_P`O2_[:/,IS#_?7_+\R+YE`2]Z:Z*Q>X"C[1P,8#'4!
M%,O;Z=QUQ[>.>@XI!86UPQW%UOS5'^M+BGOI3Q,)V-LFKZJI]@OMS>@QJ]9:
M)O99XW*JY<H('=-V0!\B"15SJ&<.B=H%[@.F!C`/3@1V639NZ]9:JI3>V[(E
M"QM;EW3*-BB)LWDK)6.7DE5`C8.$K[%LO-RTJZ03!3V4FY@`@CW"`%$<9X9#
MJS-5G\S]!):XCMBMK`]4A7UB7I47`MJW-GNRMM:)B=>J(TAI%*3P2;9`@K'3
M*@($;D,H/PES*M#IFTI:B&>:6%.CZD_=0H<];_\`QY4Z_D0V'S5T%6:'3]C*
M6.6G8*\KRR-;:U6KV.Q3RAJV8@6@\I`QL6M)PQ*M[@!(`NF4S8X&(8.XO6^W
M;C:@H0DIQ6U;?B6Q<W&MR+A/<RW7_P`SM'U`T-(2;78D_"S,!'W",L-7U==K
M/62QSLAW#!VM8HB*<13!8IT3%.DX.FLF<.#$#GD.+]GSDE6E&='3E0LT?=JK
M7;A#(R2$7:H=C/QB,U'N(>4*RE4"NVOWC&NDDW,>X.DJ`F3.7N)SUS/'1N,U
M+BK1UR^9-2O7G(-H_*P<2C`DEV<-6!I%JD^=+*`(&0;1JCI)1\?M+R4!*/7T
M#G-Q!+2L-<.L9@E*17SRXK."-D7[<'ROR@_\2=1H4YG1TVP@(*G*4Z1.!*8Q
M>,`U[;=SU*FV&A5B1%R\E-B6A:HPZ,2=I(&92K>N2]E54F$T7`J,6'RD*LF5
M40$!5#M$`R5P_P`RJ0^/^5T+5L3R$UQK&45@+-)J%L'^7UKV8SAF1?F7TC5J
M8DJYFUF:!?URCHC5/N22`O<H8>T.O7.;D+<X.,8I-K/<<7)W+<'<;JDJTW]!
MFU)V=5+Q78ZSUF0;R<?*0\5-@DV=M5Y"/0EH]M*-&<M'H*J.X^2(Q=E,JFH0
MI4A`0,;H.8UH?\?=\S(N8;H-^_Y?(RR'MD%8&:K^ORT//,D3'(=W"RS26;IJ
M)"(+(+JQYG)4W)>T>"!W=W'KFN,>"*AG1&V$N.*GE55*1Q>:X@^=Q82\/]Z,
M"$5?,59=DDNP1,F58RL@@4ZKQB1-`P&.95(I"]Q>3``@.=I5*-1J/(:7#Q-]
M-#6MWWS1Z*THTRY<#.1E_P!F5/6$0]KCIG+-D9VYJNDXMPLJT55!TR(9OVJ@
MV]Y8ASAR0"`8Y5$9_7_X._Y&9.-K4M`TXD2Q5UTZK48O,3T<SL$8ZE(N/9LC
MOWCAY'-U5'C<J3=,W`J$(03AP)B\\XHMY/KZ9P[_`)>W08M5_(;6=GI=(O)[
M!$UJ)V"U;.JTG:YN%B5WYW"1%QCD%2OW3)U+IMS=QFZ2JA@$!`PEX'C7Z.=%
M)---++I1"YA7^1KW_(M6Z?(G7NEJQ)6:UR+99S'1!9MM5(^18J6R<C/O)A'+
M.(*&.H5Q)"@I))F-[8&*(=W!A$,HNVO*:3=:HA\P:_[;[?D;/E[]7*Q`I6&T
MR\-5H@6Z2JLA9)AG"L&QE6Y7":2[Q^**"9^PP<@(\@/0`$>F<P@YS4,<?>%S
M!UIY;7O^1J"=\G-8QVP]8:^3F8N3=;6@K58:O-1]B@#PRL946J#N1<F<*O4O
M<25*L()F)R`]H_A`-BT-8MN:4ELH_P!/TJ3^0=:*VZ=?R)MA\IM*Q=&N]VCK
M]3;9'ZY@U[#;V=4N%>F7T2P:%$%17(V>G3(8S@`1*8PE3!0>#&+P(Y$=$W/A
ME)I;Z?/#WAZ]I54*^_Y%3%>4&C%VE%,\V;1(E[LB)CYRHQ+ZW0P/Y9I))H^R
M1K[:YFRRGO+%1Y*IV&6[B%$1*.1+123I%U6^E/U"U]55PI[_`)%UL'DEI&JS
M#NNV+:%!A[`P=F8O81_:XEM)MG@-/GTV:C-=9-4'BS/]81/CDP>G.%H7+-X8
M9JGZ[.WH(?,']E'U_(IT/)O13FG/]B(;5H*E#C9%Q#/+:%F8!#-YEHD#AU$K
M.C"!2/VS<P'.GU.4!#D.O.<^@_YO=XD>OG]M5U_(M$SY/Z!KT/7K'-;:H<?7
MK4W?.Z[,JV!LJRG&\8*99$T0HT*Y*]48'6)[R?)#D`W(AP`YV]#-+!U?N[ZO
MX5.EKZ_R4]_R,+E_,_1$)L^L:V=W:M=MHUA*;78W$+'&?LL-?C7R30&Y'I3'
M*H]<-SF=]3$*5HD8_40XR5H6XM\5))Y-?,C\@TZ<%??\C<NL=]:GW2S=2.J+
MW5K]'1SD[*5=UJ9;2/W8\#M]E!XV*!'20.2B(D.)`(8`Z".5RTE(MS>.Q4SW
MXUV;B?7O"D._Y&)RWE%H",V2EJ>2VM3F5_<&*W"O+RH-W`/C]_MQ17BB18P\
M^LDD91*.*N+]5,HG(B)`$V3'1+RW)Q54J]??\2/77&^%+!X;<#4_B7Y5$\G0
MVI*,(JIQM:H]\GZ;`2$)>?VCD9QO!R[^(^];#$?=C,U>5?'C_=3#W'``D81$
MW3KDJ1Z"=*>9W/Q,P8^8_C=*.[>RB-N5&4<T"$L-DN`,WKHR<-!U)JL[LLP0
MRC)(TO$Q!&YRJKL2N2E,4>[MX'C5:TKN05Q.F/ZT,=VW.S<X*UI3Q)E;\R_&
MJZP]IGJKMFL3$12JX%QLCT'#EDBPJADDE$[`4[]LW(XC5A7(FFH01`ZI@('Q
M"`9<]'*6$FEW]OLRZSJ96FY<+?=[]I8D?.CQ:5UX_P!JCMJ!0HD3-P\!+S3Q
M&88&AY&P.?DH1&3C7T6VE&QI5V`D;C[(D7'@4S&*8HCSZ"5:<2I\>\O_`"#I
M7@=>OY%E4_>!^*B$]!UQUM!@VE)]E`O6J"T1:$R,PM0)GKB$\]-`!'59Y(HJ
M`?Y:469.@*)1!(Q3`;.WRZWLX?;VP_0Y_(WOM9KVF^?%9V3L:<IE8_9I@RIW
MD&OI65<3<M/L'DXDVIKR>=R4*1W66C-1TG(M3(E0,H"8D("@K`4<U1TNGMP<
M4WQ<.Y8.NQ?/>%9U&I_K5HI=?5O-N5;S=\<+A-6N"@=AM%WM0C[3*OSN(R>8
M,I>,I:BB-DDZC)/(I&-MS!@JF8`.P66,<A#'[0*`";//2NXECC7LKOQ[<_>9
M]1I[MA)R;=:[]A;:=YY^--Z@;?9J]?#N86E5AO=95VZK]IC`<U-=X$;]]PZ<
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M-%45H(`8-V2:2IGBJAQ.BL9%(4@$_<&CT]+;J_ZFY94VYTKW&52N5IL,SKWG
M5XY6*LVVTA;I6%0I5;3N4]%VFI66LV-2K.G)6D=/PD'+1K9W8H^7=*%3:F8^
M^*RBA"E`1,&</3M.BI39[9^^@XKCQ=36LOY[ZTL$KK5+6TH@=G);/1IFU4=@
MP=GH5BU[4W%%L]T/;DXJS,H=5`!;0()D6.0Y#`J(%`1+ULA824N/%TJDLF]S
MZ*[!Q7,*-YEDO'[P>AU6VZ4F(EM8IW4>SX/<[D[EG2;3(7*9EM:JP"3:0JL.
ME&G>.X`[)TNY!XJ"+9PS`5DU#=`-*T\91:<HJ>%*94Z>OP#G<HL&]_7T&S[?
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M`JN\Z599':[]"V6F<@-3U1].HUC6\38))G&W.R-S.@%I\Q%HH'5;-CNG0K''
MA("]HFOA8LZNMR*44L,77O,FIMW+,U%RXG38J=QT??=UU37>N$-IRR,P[@%S
MUTL<RA8Q[)V&6>6=9HVAXN+@VZ0.7DD]=/B)`B<4BEY$QS$`HY'H;?%P1:4J
M5K3IIWG-B[.S/S&G)+"GM4XZJ'G>F>4WE,7&G7A=E3K_`$[7VOM9MJ:NWVLK
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M[RL>O7QX*B_=[JF0<-0HBR1$<L:5L+5R\=^P\.^=.@2(*2*1B^T83`(:G8T\
M;?%6EU1SKM>;?17N.;^LG>BH1@UC7.N&[(Z>WWY71.AY6-@E]8[1V;,R4')6
M90NOXB.5BHN"BN!=R,O8+!*0L#&@!1'VFHN3/EP#E%!0O)@HCIXSC5245E1K
MMKTF5SNJ5:-OKI4U!-?O'=>MR&>U#4FW=DP\;IZ(WM;IBG1]?<-:7KV6^=$'
M,P1Y--E7DJS)'+G4;L0<AV(G$#B)>!J?+["2K.*>66WM+7S7F=?_`,&Y3_/_
M`/H-8>4?[P>SU*B[*<Z,UAL*;3IC'78RFW&\(P?TRK3UT4K4RS@G\-+O&DB_
M(ZK%C05.]:(JIH&5X,')>[,-^W&U==N.2/7TUVY?LJ[=MNW<=:Q;JUW+X';&
MX]^?Y/5FC.24JP;*OVQW;*"I6N:>K&,YRUV`L,VF)%-D^FG#.&C(^+COF73A
M5PJ0A$DQ$!$>`'K3V8WI-2DHQ2K7,:B\[,4XQ<I-TI[)FC++YSR<-7(B6CO%
M_=LA,*.K6TM<%-N:31FE-7I<K'1<PW<6RVS\?6YYW*!)D7AR,%EBR2*:WQ)&
M2$HZUR^+SN*FS#YF-\PDO^VZ]?R,=']XI5K-,4V/U=JJ\[`C+-K_`%SL.5>-
M)FGU^=A83:+DHUX8FHSLNTG[N>(:-'"TLI#D<H,DR!R<_<'$KER>=Q+W?,?D
M9;+;[?D8;KGS9O\`7[UL&*VMKFX6&CH>74CH>,V>U:5F+@*4\L#UHTU_!GAR
MO1M$HQ646`)"5$#ILEW""!B&`_<3!=AY5QVTZTV^ZIOM7/-MJY2E=A]9"',8
M3`8G8)3&`.1Y[B@80*?T#@#AURLL)F`,`8`P!@#`)2_]D?[/RA@%&DM[0"';
MW<CSZ\?1]@X!B+3XK^8?3BJ+#]?YL\JWX^CU%/G^'`,_P"!0_MD$W'/`ATYX
M]?P\#@%K(/O/G'3M[F;7\/'LN%S?@_.[_P"#`(XG_`M/T3_UAP"Z8`P!@#`&
M`,`8`P!@$)C%+U,(`'X<`H553>X;L./;TXX'I^:'/^G`.=O*?85JUEHZZ7.H
MK`WG&"<3'(2BB)'2=<0GYV+A7=J.U51<H.2UQL],Y$ATCE-V]>`YP#Y9>1TI
MLR1K6SM&/M_RVV*;"R6A;BYV1]R45Y),)2V[;@8DFL9T&$8O"2!'"!!FHQ=!
MH95L"7RSU!1$X=P'9WFA`56O:G\;JS.GA7==B?*+QXB'[BR,X%A&/&2,^]9O
MU)!J#5A`H(NDDQ]T"(I)&`1Z=>,`Y-\C+=!Z;W-?-@>*[BN-W2F@SMM[.Z,,
M$XJ=3DG5UK3?6MG68LO=IK*U,VKE^HJNX2X+%E.HKR!0R5==A^<H\3CC3?38
M"T1>ZMY1K*?UO/[I&#K<I==/1*>SY/9VMMA[1H];O,W.,[&^DIRBP3VELT99
MFW9A!KN4S*)JN`*H!1YYL_/7DU_XCP_PX=A-64.U-O[8C96B:8U7Y#VK;$0X
ML6RTYG9L;===:CM!I&KM*RO`Z\<;4LM2DZ%,N(%@Y7D':K5)HXEQ$[8$T^P>
M.OSVHD\=*WAMBJ85W[?D99\BTUYN_*_&,INK5<579AN,AKEZW9MB3K4-)[\M
M=06B?%S9VQP>:QE*W-,[C,TS9:L17;++S:4:>+6=+1*1T'J+5)%-0I0$`$.!
M"J6NN:Y\<[;MTV-4SW="IWEMOE]KEZX;5Q7.+.CK2G\>XP"^3]T2T7M$+#N:
MVW1GM#P>C]ZS#:X*Q$G7ZW<7-JBXQW*U)HM!_+PT=&IIJ'-$AW>H&#\S.2Z,
M93DH059/85]SW+>*:@_IFH/(>Q;,U=+0VD%[_M*8O$-\II^2OBTRG+@&P6=:
ME6L!$2;868BW(@?[L*<@GX'I@N]+J?\`;EV$S7LIN&].*KJ.2\@%Y.GCY+0<
M&TL&L=Q2-^LC&M2-%L<U,TJ9VB:GU5M-N8R2B45P4;D5(F!@3]#X*&FG1YH^
MDWD;*:AH5-UI$;-E(I'V["VKVO=G[*A&UNKU*V,RC79(:T7-Q)R$:Q<.E2G4
M*F*XE*9R)AY*/H(/GLVU/4=F>!.[6UG28WR)U?;=U6*IV:M%E(&D[:LJ;,JL
M?<&E-:J@Q4A#N7RB3%N4ZS;YEN"R?=P!A`^LVL+E6BUC65.>3<0TN#[5M4L3
M6LBX2;R"T&A!P#)Q(L&(]JAXMI(/DVXF`."JG`HX!\]O,?8NE`OMUT*H-'I-
MHV_6*^WWKNNQN_;:TZFQ[9=U"-X5!0J[V4N:T6T4(R9H&23:`?WS\\<X+UIM
M1)54)4ZC4=]MVMX.,\M]9/I=><L^S9O2RWC\W453E;#;828J%`8T.P5"9^7.
MW75B)RNO'@J")7#`XB(B3D!$3Z34_P"W+L+*[DA@JAM[13D_S?DK.><U2NE8
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M:ETFD]HNHN_:7N,KOI39G^?%GU;XX/\`0\8Q0V.HFZA'%5K[278NF<0@:'%0
M]F1>JV`%R@(-U2"80YSF6NT<%6=V"763"W.Z^&VFY=!]FO*3>=*T7J"HWR7J
M2EYFD9.NQVL&!HA[()L[I+QZ24;/.95HQ?/X!A$M>Y5=9,A5`1,/J(\!6^8\
MN:I*_;46LZY=/NS+(Z;4N5(VY2DME,>KWO`X;H]MUK6/\IO(%W<[!M!C&[LV
M+;-_7J+H-HB(VK738M,DH6&DHZL.(!E:&]/J!D2QP*-@,=--3W#<@Y'CRE#^
MV*\?Y/38?_<_7978>Q*?]S</DOEFI552GEU=%@\ZUIMPZR#55RC-,W!IY![&
MI]T@=2;4L7D7(TQFG3;$]D:M%7*R5EU`I6"MPC19=L^V,>.54;"Z(0Q@5#W>
MO=SZ%C6<IT]I6M/JK-RTJTDI53JZY]#P/-OV>8W;SGJK%RU?P3C)4:HMJZ51
M^\V!0J+L9_I'Q0\>+&A8H>.V;=+7=]FL$6$G'_=^IXN:E;@PJ,VHW2(E&#.M
M3M6IV:G:/4P`/3C-EK5::^^&Q.,Y)5P=<#+*U<@JSBTJT]^X^G<=?JZI>)36
M21W9+)`U=A9U6B3%9M#I5YTZ".9J,'91$''#D@E`"CR"0=H>F7-I*KP2.$FW
M19GQ*\KTW"_D#L-ZEJ^;5O4'L77KNKOV6LME7ZZ3D.SEH=PTM=0N$5*QU(H5
M)8`JZ(Y1*D\='."@K$`O`C1ZO3+_`+D>TO6FU$E50E0SJ"T8DBXE=M05,N3#
M:A_.!!TWM[IO)IR8:]D9-!H+5F3VFH15(D$W2:IBE3*W,1+O,'41&M\QT$72
M5ZVFNDJE"4).,TU)&`:TIS".VCXCQ#S2>RFN[J3NK8+O?>P34BUEC)"'787Y
M-*=G[V[3)&3S*T*+QIF2:9A!%3@0X!3K,=?HI_LNP=.DY.H_.JGP!]KP5P5U
M5,V^P6'QI\A];P]F@:6]GRQ-H?QD;(5%G(RS)`XQ#I\[67;H&./4YCASQG?J
M]-_N1[2RW&,KBC<P@WCU&E+-H6_5.$2K6G*#(0#F5\%JY&WA"%KJA?V@O,+L
M.LRDO'R)#(I!+W(:4M+I(,Q=(+.3./;$1+P!9]5I7E<AD;5IM!5UE'/#JHOU
MJ;\\#ZFV9[$VI:*M"7.!H4O4Z3!&8OM$Q&@*.YLD8NNL92)JZ,JZEI:Q-6*O
MRD@Y`IVISEXY-SUNC*,EQ1=8O)F&XHQFU#]B>!A&T]&6>;B?->P1>NW:EJEO
M(VG3D7)(TIC8[!:]0Q$-JT]TCJ_'2#IB2Q1KUJSE4DV@*`1=V0Y1_#Q.[9M_
MZDE%O*I=IK=BXWY[22W_`,#6=$U9L-ZDTGZ/K_:4I35O([QFL#6KVG5E7TC7
M#MJNO8#6Z^P-2@_G'U>3C6CQLW>NUB_+*@F10.1`!#CU>ES\R-#3Z;04_='M
MKCV8E-K77=^E]P:T<%TG=JO7H-#;\9?T5]*5^HUZ!;W&L6*):UN6N:=C=6O:
MJSN9(W7*N":3`@+`HH7N$.(]7I/]R!/IN7_='M^1KD^G-G-HNCJ.]*[AA:ZO
MX^,M81U1I.EZ'=W5=N\<]DH_84'(QUS'Y>D0]K]]N[93;7XW'LG6(IQP`Y'J
MM;Q/RXR=O8TMFSM6(>FT&R<>WY&?[9T/?&=$OU`>^.MVV7?-A:ZTRUUWLX(N
M(F34@:>P2&0AYZ;1=MT:K,UY[']Q0;<I/3G*!N1'->FN7[D6]0FI5PKN'IN7
M/^>-.L[V\RJ'/7/3-*/!U6Z3TE4K74K`):+'529M$,F1F5%Q,M-?W5![6+M\
MDLH4BL0N43"7E1(P*D((=:JZ[%AW8/ZE3O97"SHFVI2BLZ8]/ZK&O@<:QFI=
MLM"ZBGYWQU:3QV+??]=CFD;KVLU-9']MXUBXHUCV+5F%@=M:G&/)!)Z#]NW,
MDDDHHD`)E^GR?RM^F9WZ;E[RG'M,&KFCMQV>V7!_(Z*OK2O3GC)>]<MV]@HV
MIM>Q@VHTVUGF-5;5RHRA9-[%'28F08R4L!S.?<`H=39H6IY@UA"=.KYDO3:!
M?SQ[?D8_>?'3<]NGKJ<^H-Z,HK;=8UTM7:[7&FCX>L4U6N0$/7I6F7:8M47+
M6:D)Q$O$_?+=S#G2!Z=<``@'2.8SU7,?LGV?,>FY?]\>TZIDO&6[O8+>I9/5
M;*X3TYY!Z=L]7?VAM!S#BRP-=AJ.QF)M59TF95JSC02?D,(&#W!]SIP./4\Q
M^V781Z?055)JE-_R,'W]XL;4<6NR72@4>[L(:%WRVN_W-J1WKBOW29@I36L1
M65YFIH62"=UQPM`RH+&.@?DSGMZ@';R+U7,?LE3J'I]!A]:JU[;"+0_B-LFO
M;(T39[70+`>`B[/Y%W&T,=BV.CWF6KJ5SK=9AJ89^C`P$%4FLY97B3Q9XSCF
M?LM1.8PF`?7KU',?LGV?,Z>DT:KBNW!]1A;'Q8WQ"4*ATU;0+2V)3>E-_P"L
MK-%+W.!AXFJ/)+:<M<->,G<T@W&90CW\01$C5TQ_PY3%1.'9R&1ZGF.7!/L(
M]-H:_O22Z3J[P7UWO^G2^SYW9U6LE=K4VVIB52+LYWKZ?W`JZAVQPLT?*V+7
ML1&M7M305X3BRO1,Y[1YXXZY"U.O?[H2IU'$[&A6$9+B>W8MU?U-)V3QS\A'
MJ5IT%%ZGAF5;EO*..WZU\F5)ZO.%("NC=6%T*^BJDHB:RR>RHMM&.8@0]Q/]
M1(&$A@2-VYTM3KV^%PEGG39VD.QH5'CXUEEMJ==Z'TG<ZYJ?<%%N!3U=_>-H
M>04A#24(M'KN6%0V!:)XU3F4RMTB">2;Q<M\VBV.'<V,7VPZ#QGI&`^<^PM%
M^0D=X_P]3V+K*IZTJ'B9HW<;=394!:HR>>;D4D]<V*GP\+#56"9F<URLV@RB
M4E/E>BHL#KM*D!S`!APW[VLC<<;,9.VJ8I=!LLV=)."=V25QO%;L?`N2_C'O
MORDU?"OG%(J6FT:GXRQ.NM=-H*[`_9;)?3[FDV%.64D(B%8/*E664=#*I12J
MA5'[-PX5,<O;W94M1S!_R3KU?,NEI]!&E)1>._HZO:I1QGA-O:PL+)9I/6EC
MJ5@L%_\`&WY*#OOD$_W1*C6M>;+C;7<W<H^>HHPK*,C6I'81K?@RAT!2*8Q1
M$0*]3S'[)=GS'D<OVS55[;L3*O)CQ*\P-K7[<"%>81LS3[18*O-Z^<$V^ZUK
M0VD37DF+QRG>J)"55S:+9L(LK'%*R7=O5X@R?:53L3QZGF&R$Z=7S(5C043<
MDGNK7]#,5/$C?DIO&3DW-?AHZA./)H=UC<"66-6F5Z_.:>=T*<B4ZVG!CW23
M6QJ)B0W=[8L2B).A@PM3S"N,)'IV5RJ&GBG<CYE'ATYY[/?15VED4\5/*"]U
MZ@ZLNE&UU2J]X]5&],:1;ZM:0>N]ES4U2YVF5]F$>C&L!HD&\0E?<D"=RGQ`
M!AY'@<>HYBG3@E7J*=7;Y5.,96[B=6\,FLME#:%H\3-JRM?I$2VJ]#DDZ]X;
M)Z+DX68E7[>#?71O(0\@G&'/&"F]2KJZ<881D&YBKD>"10O`@.%J.8_9+L^9
MFLZ?E<KJC?FO)XL?\NW9W;BC\?J'Y)^+T)/2TU!R$A&;"V9K*"K6EY#:T[N!
M_3HAXN:)MED#8L]#-995$C-0B_R"JSI-FW:@!3!R/,O4<P6+A)^XJYA8Y=8P
MY=)32VI43[<>ZCWF[?-/16Q]TPFNC4.N5RTO:-;%)A_&2]SL>J[4L9Q'(L6T
MM3MIU9M(2M658B!@<I`U6*[)\)BCD>HYA3",NPJLV]+*W&5Z5)N->I[4UW]1
MS(MX7>3SV#JM?L]IJ]O5LNF]AZ2V!9334K]\TB&M5H)<8"68N7K5DAL$(1Q&
MHQ[L5&S5P^36*J']D.<7-;K;6%Q-%L;&@>WV_3WY;3)+'XF>4&YY",NNU5M0
MTZWZNJ4)`ZAB*@YFK-"3<]5+C7KBSEK^_F8B.<M:Y+*UH[<D:F5X#(K\PE,<
MQ`'.8:_52?!']SV>S#L:'8VTO;#?_$F;6\0=\^6*M?;^4,1J-O0X_8T#*/M>
M4:2L4HZ/2VE1M<7+/EKZ\81=FE;066G2J,F:_='H%`"\<<@-ZU',*_LDET+Y
MDO3Z.CX95ETX8]GLC;&MO&_R`B+EHB9V!:ZI,06CZMN+7R#EJ9P2;N-/LS6L
M,]8C,-DX<C./?14?#';S":1Q17-P8G3IG*OZ_;"1Q*UH:TC)U]J[C2NO_$/R
MDTB*4IJV3T[,SMZU!!ZCV:E?`FDXZ!/5K%=W%;ME4/"1Z)YIHW@;25)U$.@!
MLN9`@F'(>JURPE%^]?,[5C0M-ING1M[O`BH7@?M[3+EM/ZXLM.M5CUPUT0MK
M,E]C'L;#SZNN]=7.G7&/LI8WWW$7][+W-RYC'"0"+`Q$4N.U/"U6OE@HR=>@
M>1H4L7CT8TQ]LBWVCP2W'<8Z2L]U#5%QO9]Y;#VJ:E.YG8]=U_,0M_IL77#5
MM2>AW*5E8.ZXO$I+I.42^P[.4O<7N`PCVKW,VJJ$G[B/)T-:5=/;VZ#H/Q]\
M/IO3-^U[;U$]:1[.(K^W(^SUZAU>7AX@9?8<Y29V.=Q3N6F+!*2Y8TE:%%9S
M)+$54/R=,A1,`!N4U3ZG]6WK,+6+ID4WF5XD7CR!M=;GZDWU>]2BJT]K)%KD
MWN%<N%,>/Y-)X:ZT;8>OY:.L!GS-,B?_`-Z'?+!44`-R!CFS+?O:F,Z:=-PI
MLRKXFBS;TTH5ONDJT]QN/9WC[:;OI.B:]CKH0E]UO(T*Q5Z\SL4N]9/;?1%$
M%&TG8(I%ZU<2+"34*<7!2K`H(&Y`1-E?J-=DE+L9TK>CSEE3#%/^#.0[1X([
MGV.%SN6S+;I^P[$LFQ:;LUG6BT&RNM0_/5BF?L:K5;#&O+$%AD8I^V4%4CQ$
M07;B<P=OP\YSZGF'VR["Q6=!OV^S_B9YKOP7L55-KE\M(:RJK^K[3L>Q[!$Z
MPI+VMUIRSGJ2[J(5E@=_*OI2849KK$7&1D2F<'(44R"4H\9ZBBMZ.7:Y>E7V
M]N\L-0\*_(+4",,TTOM77U?=S&OU-?[-L$U2'ZCQ0Z,U*3$'=*$G$RS4C.;B
M4I'V5&STORZIR`<H^N8=1=U<+O!93=NF=,.D>7H*<2;ZMIFD/X;[`K%ZA;Y6
MME14C+1_D'+;?D%+;`O'BLS$636$3K6?9/5(]XS6"77)'@Y(<3>R!N>2]>E+
MU6O6+C*E=S)=K0[\:5S781>67A=;_(V_U:[P=QIK"*B*=)5.0H.TZ3,7FFB\
MDY`5"WF&K\?:()HPN\6R("39VJ9<2I\%X*'(#'JM9DDTNIG*AI(8RQDG7!IY
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MRDF\QJ^LR<XWB:7*5EJC\JS57%Z(E3!8Y>3G)F/U.O\`MEV&AV=$G2JI3>C&
MYS]VK:)>B:ZURXW-%R<'3]>UG7"TM/:FAGMKC$*Q8$Y=*W:[M,;+PT[KJSS[
M0ID7Y6ZCAA[O"B:)?3'J.8?;+'H(\O14;VKI7\#?R_A2C^RMQK+:_3B+:V^3
M%6\A$CF:HN58DE9?5YPE4?>44*NY;R9X`JKER)0/[RQS\"/4=]J4Y6U*Y53]
MOT,DU%2:A^WV_4[T2*(`)C"81-V]#>I`*0I1`/M,`C_#EAR3<`8`P!@#`&`2
ME_[(_P!GY0P"0V(0Q3"8H"/=](?@P#'4DDRW18Y2%`X0!4P,`<#V'?F7,7[#
M+&$WVC@&78!X)0,'!@`0^H<`H`*4L@J!0``^03'@/K]]7`)<3_@6GZ)_ZPX!
M=,`8`P!@#`&`,`8`P"4JE[H`'=V\#SZ<_1]H8!(^4_\`F?\`8_[V`6>=@(F:
MCG<3-L&,O&231S'R$=),F[U@_CG8)@\CWK1T15%PT>`F4%""'4"A@&MJYHC3
M-7K2])K^L*3$U1_*M9J0@X^OL&<<^F63XDA'2;MJ@F1-R[CGA"G044[SI"0O
M:8.T,`R^]ZSI.S((E8OU6KEOKGS\?(JP%DAFTO#'>1[H';=V5@Z[DBO4%>12
M5'GVQ,/0<`Q^L:<U90Z[(4^F:^IU6KTHW^5EXJ#KD0QCY@GL"V$)9H1H9.21
M]L1#VUN\O`B'I@%KB]$:<@ZC,T"&U=KZ*H]D(J2R5&/I\(UKT^#@$P7&6CDV
MH$>"(D[B"8>4S\&#J'4"M>:3U/,5B)H,IKBB/Z+#J)GBZ>[J4*O78WY=)1-N
M>-B5&QV3%T0JABF7(0%3D'M$?IP#+66N:8P3;)MJQ7&Y6<(2LM"M8*.:D9UH
M@A_^KC)--'M:P8=A>&Y?@Y`1'D1P#UUKVEN&AF:U5K"C/[L1@_EE*_'*(A`H
M+`JE#`D*7M_=Q#F,8$1`4N\>1*/'`RE5T"NNP_.6<2VL->4J#BI"$A*M58R*
MEA<*2<8RK$.SBI)94"`560BF;9"/=F*8@"83)@)A`/3.FG$XGSC)2JZ99_&M
M>\K(:E5*#8MXJ$K$#$Q[5X$DS8P\1'Q3-K)AR/WD@R9(H,D7H`(E%8A"*F3$
M2F,;D>>#OC\S^I]V/;B7"6K\--,E(V<B8N<CUP.=9C,Q[*5C7"IQ[O>.S>I.
M&R@E,)O4O/Q"&`1(PD*UBDX1K!Q@12)/90B$FC9"+2;\=@()QZ"!&A4$T@`.
MSM[>TO'0,`L2U#@5KI%7]%JF6P0-9?U.-<$%=)!E#2DA'R#]B5!N/8;N4CD_
M;$0X3#TY],`NDA`UMP8[EQ$0[MXN=J0ZSR+CWBCA1(@MT??4<E(HO[:*ABEY
M/R`#T^K)KVE?Y>,5P5>&&WQ(ON"((NU<HQ\:5VP2*V8N31S7YJ/;E3`A6K5V
M@FBX22[.`$"F`.P```#CD9;DL-HESE5=:U>?M4J1BF)G!')6Z)792`0KTC=(
M7R12IE1`B#P_#A%(R!>PX=XB8/ISB=KU$>"6"S["%S=2=*/]/>JT(C,&B;A1
MRW;M$')Q2(=R5HV.Y5:D#XVKAR)??5(<PB/4_)1'Z<K7*[5,&'S9?S.3?MTT
M(U6;-51NH9L@(MCJ*HG40156374*/+E)90AC)N`4X$#%X^D!`>0X?B[6\?F%
MC5RQ[*;J;B/Y=N)CJBFF"YNS]<":95!(D/N)(J&*`"HW(X$RG9T*)C?C/E=I
MLLA>]1'S8Y9=A"#1#O3,/(@B3@O4?<.(^H+J`/*B`"/PI<`0OU>G&75\GMW+
M2BL7Q?HQ+4^D7F-9X=O\"8=ND8.@"4W7D0^$.!'GX03%/M,''`#SSV],\]<B
MA5.2PKCU%:YROVI.NPIE&#=4IRG(7XP#H*2"A"&Z<F3(HD;@/P&$P!FY\HY*
M\XQ9ICS#G,6G!--;FRI*@D1#V"]R*?:/5#M2$IO[P/;*`<AZ\>G\&9;G)+$I
MOTR2LX4IW]Y1/FUV-S_RTW?VUQZNXDJ@U152;*N4O<>`9)-LN\,"[\.S]?V(
M&<(>^?V^1$I`$"^O&:=%RU:*Y*YMDJ=]3KUJU/T*E%CE0IQA8E.0=2S1HW)(
MNX]"*<O_`&R@Z58LE3JM68K"7]6DV5.(<"!@Z=0YST7'C7`\GAVD\?E_7]N/
M81O'C6-2%T\?I1C1,A07</5R$3']8FGPHL[`$2I"HL4"=G'<8W'.<QY5%X0J
M^\JES6#_`'+#JI[_`&J514RG#D!5[!$W)3"8H\E-VB4$^\4@0,)?S1*/<`\\
M]<\C4<DC*_)YI^!=&\[J5RKHR8`K$,F/N%,`%X4[R'`RAP'\\`3633+R'3@2
MB&7Z/D\+?%7"M/U)JV0"D3W/<!0Y?UAE`*3M3[15X][@R?8)C*<>IN[@>N;O
MQ=I95&)4"<``.SH(="@<YU$P#NYY$G>43&X^D38_%VJ4V#'+86X)IH$E]T*O
M(\)59([UM&`^2!]]T)JBU&3(S464.)4G7ZL3$*'Q=/7IED8*TO+64<#DKE.5
M#)>X8PE3(4.2'.DL94O'*@J)'(40/P')1*(=,YGI(:G&7\OZDKH*-O*Q3U:1
M8,I!FX<Q[@6TBT:/3+.XUVHB1V"3X$U>]FJ=!8BA"F`.XING3(_$Q2JTU![=
M_43CD5R9_;#@##QVDYZ\B8X`/>H8R@J"(G'C[./IR/Q=I9#ZD$B"=P(JJF.W
M.4.UN<">V0X`)A/R`!SR/H'3@<MX>#Z%DL.PY+:M*Q`2R,-][LFTBZ:NG;*,
M^:,F^=-V/9\ZX1:D73,=LW]T@&4X$`$>/HP"YE$4Q[A`#"0IA$.X>H@4>>#"
M!A^SGUSF5I7EY3R9*Z"UM;%&/9&4B6$E&R<G$E34D(QN];&DF(.RD4C0<-N4
MS))O4>XY3'X#X>G/T<2Y2H).::3VLG%F`RF_-)PTX:M3NT];QDR5^>,/$O;=
M!MY)"015(@X8NVBCT%&SM!PJ0#$-Z`8!'C+4J*FXY-KMED%D^]N+4$QX,'Q`
MH!@.0JB:A%"CV*)JI'*8IBB)1*(<#@$PA025#]:CU*(]IC@0_7@>A?BZ!@$E
MR<PJ<E)WAVAU(HGQSR/3XC%'G^#`(0*FD/=P(_0/<)"]!^H>X>1_!EGUK%E4
MN:)JC6'N\3%VMVJTE;I:CQTRP<VV`BXB:FJ\1<II2*BIT\DE#R+]JF)U$6<B
MO&'(D?@>[@>G3KQ)MNK.H7E?CYD:T,U4<>V`"9,0YYX)WD]TWKT33[N3FX#T
MYR#LICC[P**E#\TO/:`E.8HE+Z*%((F*;GU``,(?4(X!HE[Y(:1B]E-M/RNQ
MZM';,=?*`6GN91!.2;K/FYW;-C(+&XCXV8>,T5%T6*RQ7:B!0,"?7`,TD+Y1
M_P!LVVLW<_"*W.5@I"<0J3OV'3QS561TDW4L[C@4.8D89ZJ"8'5`O<<>``0Z
MX!EIS1T,S,911LQ9-4UU#+.G"3=)JV23.X4#O.!$TVC9-,QN`X!,A1X`0P#G
MR@^7/CML]W:6%%VK4Y]W3F#B7GDT7CEF+:#:)'<.Y]N$DR9A)0#!ND<SI\U,
MLV:\![APY$``D4?S"\<MA5^XVRM;:J#RMZ_:%D+A++.)*)1@H\W<`23DLW&Q
MBBT4)DS%([1*JW6/P1(YC"`8![7/,'Q[LFO9S:L9LB$_8NKO4VL](R"$Q#O(
M=9X)5(-M(U^4C&MD1?V-K^L8HE:&,Y`Q/;[@.41`S73.]-9[\@WMIUE8V]@8
M,5V["7(1N_8/(F341^9^0?QTJT82314$C@8/=1)W`/(8!N/`-:[7VM4-,U)2
M\W<)L8-G(Q[(1KU9L-ODRNW[@K9!1."J[&1EEDDRG,)U"I"1(O4P@`X!R[5O
MWB_C%;V<P^K4IL-_%P+9=PZEG6LKO'0RA6TN2$<-VM@EXIM&/9)*24!,6H*_
M,@/02=,`[F0DFIFR;I-0#(*HD<<F$`,FF=(BI>_GX>\"J!R7GDO/7(]''5/Z
MJX?J8=;KEH^&N33?93Q(C27:'<*92I@(?K#*E``)SP)Q`0XY`.O'/(87*J/^
MC57=AB_-1VK#V]J9DA2;10`#+J-TP44[41!9,04(;CVS]P]I0,<.H%`1$>.G
M.=PY9S*XVHO%=#\.W81+G=N.?M[=I9[[L&IZYH-GV)<YIK`U"H03^PV&;=$<
MJMHV+BD#.I!TJBT07>*%;HIB(E33,<>.``1SGAE#Z9?N6#ZUF>S;GYEN-Q92
MBGVJII?3WDK4]U1LI*P56V#3FD2T@Y!<FT:G(41R[86-O-.HIW%DE2@E(HK-
MH@JIC)G$I$W).1`W(9MTND>I55&KK3*N[Q,&NY@M'.,6Z5C7O-]+VF*:,_G'
M+Y@@S*"0"]</6K:.$RARIE(G(.%4FIU#''M`O=R)A`.G.1<Y;J9)QL)^;L5'
MQ?\`*DVE3H.-)S..HU"L_P`SKNI@JYE&^MM>;()NWDS"LT%$/F$E'<S&H)JH
M)*$*Z425%S[*GRY52"/:8Q1[PZASF9<IYTY.%OCK6F$985RKA@>PTR<YN<"R
M,@5U*1;9)S\#5RXDH]N@[4X[A2:&7<IBZ.1(0.;L`P`4>@B/3-RY7>X*RC+B
MVKA=>MX85>_X'@2YS;C-QJJIM;-ABT#MZMS0V_WTI"OH4JRJU.6?VEL2NQBT
MH@T9O%G$=(2:R+5[%>T_3`BQ3=QC`8.P.`YSZK2RTLXQ=*2BI*FYY?`]#1:M
M:NT[BV2IV)>)*D-SU..V+3=9JBZ7L%]KMNL]<,T14<L5HJFK0#:26</DBF:(
M^ZXG0*EP<W=[?_6X#,;#,']WK,3(M(F5G(2-D7X$!DS?3,8R<.U3*`A[+-N\
M=-W#U4'!R$$J1#CW'`/40`0-95#R1U5=7.Q&D39HQ`^L+L]U]:%I5^RBFC>S
M1D>C(/T2.G:Y$ODT4U@#WC=I1$/0,`J9GR%UG"VO6-,7L4:ZF=O!.&I)XV09
MR,9((P#(';UP,BV6,@+?DP%*<G<41^GD.,`R2)V?K^37D4HJZU*36A6[A:>1
M862%>*0Z;8R@.%)$C1\N:.31,V4`PN00X[>!Z],MLV):B7!!-NFZNU+]24JL
MMY]Z:H0`5'&Q:$1N9\2,(Z"Y5L&OWDJF"R,>HX4E$TRNU4C`8I0$0^CGG@,V
MOE-_@XU%T2KBG6BVY=V>VE":+>7A?:-*93D=69&U51C99A!!:)K*]GAD;%)B
MN4RB?W9#N7;=_*)JH=JB9FZ9P.01$.>``?-.2V.MP:N;V8]0<[#I*-R09K2"
MU6&RQ)ITC-D<2NW!8@CHTFH1L4AC*E!+W$2AR<I0Y$`-:4#S!T3L*EUR],K]
M5:Y#6N;FJ_"%M]GKL(Z=2,!+.XAXD5%65/[@.E69CMA3%3W$Q`3=@#@&^)BX
M0L##/[#+2,6P@HU`7CZ9>RC2/B&K$0$R;M>3?G;,TT#DX-WB<$P*//=QUP#7
MS'R)TG)58+PQVSK-[32/V\8O:FMX@%*\E(/BG48,QF1>$8`X721.8""<#F[?
M@`V`79#>&HW$Q$UU/9NOSV"=8I2D-!EML,$Q*1RY2*-W3&+.Z)(.4W*)P,F)
M$Q`X&*(<@(8!M,BA5`*8H@(&*!R_A(;\TWH'00P"/`&`,`8`P!@$I?\`LC_9
M^4,`E-?S#?I?D#`,?)_^&2__`.@T_P#[*'`,JP"!0_MD$W'/`ATYX]?P\#@%
MO24]U^J;CMX8D#CGG_XRH_4'UX!Y$_X%I^B?^L.`73`&`,`8`P!@#`&`,`IW
M)C%*42B(#W?1]F`4?NJ?SS?CP#0'E)>+YKW0.T;GKEB$C=(&J23N!!1\UCTX
MYX*7M_?)UWK&3:G+$('.X]M1NJF<4_B#TP#@O6'D1O#7Q9.F7$EEVUMF6E])
M4BCZ]E[=`)N!GKAK5Y=Y^P3MZBX&):$AGS6/<2)W"$>4C!-`&_MB`F..Z&HT
M<;<87%'S%FZ*M??GAO,%S3ZN5R4[<I*#>&+H;/2\]IF$/=HC9&II>G7/7]-V
M"^GJHC9&,M]XWR@M8^9&H5J210*>4;VNJ2S60B'`))J.RBK\/P!S'GZ%885K
MN]E7NIL.?2ZYXJ4NUF)3O[QB0_9-M9JSK`H"A0Z#/W@EPF9".8ZONFP+U*TM
MK4KT_B8N07CF%;1@'[R2?$05!!)J8XAQP(\^=HL:OJHEWX9U\"?3:W[GVLZO
MTMNNS[DT<7:</6JZ%D7:S[=G7H784-<*G,2D"]7:(O8O8$,9:."'E$"IKE*H
MV0<I`/:H3NYXGS]&WDN"N&6"W=/:/3:S[Y<5-[.!_'_R0\KRU*F1K:A&VOO#
M;$%9MSV&-V#N`(NF56BPUD7J:;2E`QIQSP[B5=(_\+&?$V*KU]X2CW9W/4Z&
M>2C%+<E7V]Q"TNN6<I/K;.E]3^7.SMU;-J]+H^IVK6G+:YK5_P!C7.QW;Y29
MHRLS+6&#=U9E6"5\QIN:;2E>.F01533.01/SZ9'GZ%OBHL-E,/?B/3:Y9S?:
MS'O)GS?L>F]KN=3TZ$H3^9@:/%7^SN]FV^S52.786*=?Q5?K]/-`U:S_`'[8
M%SQ:XN4US-3)"HD4H"'/',;^B2HZ5Z$JY>U%VUJ'I-;+!R;CNJ_;WFM]K?O"
M+G541LE.K>JSUUI0ZO>EX:^7V=:;'FFDR=$91M&T.L5J9DJ[%PX+'!)[,I,%
M78D+^K[![LZ]1H6J2S]W;O\`=EN*OQVH>Q=YL]+R.\@+Y9I69U[K&KO=#PUM
M=ZUG922MKV.VDX<C#"XF+U`1#E./KC>!KCURD@6.>+#)/NX%4!`@@F,K4Z"F
M*C6NY?K7N^.)8M)K5@I.E,JLUMXH^2>]F*/CC1]JUFHO*;N&$O$13[HE>)B6
MV!^U%*=NG1AO<<]C%&Z!Y^/4*IPDNH+<P`4>@9$]1H).L:)]2IV5)6EUVV<N
MUG0^W=V[[9;8D-;Z'K&M9I6AT=EL#8;S8]BDHPZR,FJZ"'J==3AVR@-5I5LS
M4.61<D%%,X=I^F<J]HFJ3I7HP]^^O1ET%UFSJH7%.Y)NWTMOW;L_><Y:$NFQ
M_(;RW+LUQ*DC-:QNAM8W"(HR5WOJ;J,=7YK/@[5G:FUCV=$M!DI=NH""YU4C
M$;II*@7N'G+):K0^7PQA&O4OCB:\:U-=^1VP_(MG>?*N$9W2I#2JW=O%2.UM
M%K3EHB)R$F;1+QCA5HLM'QGRS*(L(D.,@9N87(MQ,`'*8><E:O0<*7!'L7ZE
M/I]/_MQ[#:%N\SMXT8UAUU:(/6!=P16VH#6K6:K4?L:;UL$3;-?R5^9V96N,
M(IQ>G[V"0C!:_=S,W<['@P'$3\!PK^@6S#IS]NOW&34:&=V?%92C"FS`WWXR
M;]VAN>AVTEXH\C4;W7K'8*S&6%U3[I4*+:`8-2+0=I+!W!%O::VPDG*Q06CW
MQ@5!(INWD!XR5JM)&2<:</5C[=.==I3^-O4Z?;H/GII[S#\BM7>/]8D;[)TR
M\/MD43?#O3]H1"T.):R;NI>T7L+%T6SNK*]6*>/E`7(BU53Y.FR!(B1>"<!;
M<U^DN2XIXX_I[8$+EM_)4]O<;=K'G3OW:#RI1NO:C16`64=+ZX>3=@^_7[.N
M;QN5=MEQV3'$8L'J#FRPE$K%+4;E;E.DX6D7Z?/4@@''JM'L;[O;VID2^77\
MFEWG<OCAM*\[!0V[2-F'@E=B::V/)Z[L,_36;QA6YUNK`,[17IJ(C'SMVZ8N
MS,)$B3EN98YDUDS%$W7,MZ]&<^*S50IE7;M/1TUJ=BTK<LZG%=@\\-IUJK2H
M'BJC,7?3]=WS([Z:Q3&>>(1$AKVPC1]:ILJ^W=*S;;]L[$Z;R*_>;VR1Z2A2
M&'OY!9NPA)N^WP4I[_X5.=59GJ+:A#-2KB3H+S*WE$,;VWO`1$<[+J"*V'5[
MG=-5737U<BYER[CVDC7FL&:;G9G89R+O#%8C%M4O?`"`HIR81S2]5H9*G\NU
M;]F+S,"Y=J$ZX5^!@4=YP>1KB:V!0D`8*343,Z+95JW7W3TQJ^3:M-P6=Q6I
M5U,:]DK,Z<(MZ\JT,=E\P)%'G'';R/6C_P#HW^U;[%_$TNSS3_=GVLSZ\>4?
MD/K/>(5FWVV$8ZXA[C0Z,[M1M+S4SKJPH6J-;N9>2EKM4K+)2FO+RE(B9%I&
M/F:;7L4(<1,41RZ&HY=;AP0BHQK6BV='CO*)Z#5W9.=Q\4GM>->[L-^^75T<
MTJ_>.4S%1L/(R#RP[.*PD)>.&3/$N876L_-L7C1+YQB9-;WVJ9#&$3!V&XX#
MU"8ZO1\/#<2?N$=!JH2XK;:?6\NPQKQ\W9O>0VOJJI[7ME9O,)O/1\EN.')`
M5A&HJTEU"N(=)W"@NG,2+F<8NT94H&.LFCV..X`$2E`P\SU&B<*6DE.E%A[8
M].?P+8Z76*5;DVX5Q57V?(YX\LFFPG^UO(Y9K>8UQ78W77CDFPI\I7E/DVDI
M-[08</E99I-E='9^P`'=]J8IK)\%./T9GCJ=1&/#&<DNAFIZ;3O.$>PS?9OD
M=Y#Z9=WW6,Q<&-]MB&QM/U>NV^JT2"CI2(AMJ1TP]=,(NJ2EE8PLQ(1:L(=!
MDL\=(>\<Y2\]>FBWJ=)&$5=_U%GTO>_;K1FN:;5N3\F35K8E7!=!U+X@;-VY
M>Z[<8S;C8ZDQ4;4A$P=CDH^$BIVQUYY'-I`R]BK=;FK!#PEF8/CG:G;%<&[2
M$`WH/6N_?LW&GIW3>D7Z>UJ+5?.;=<JG'51\D_(MA5:7N*T;3I]SCKON39FO
M7&IX>MQ[8L37:NE>U*\]1E(M\:>C[3&%A4#2I5TQ9@0"]Y0Z"--NYP34I/Z4
M\>HT.Q=U:]+:DXW+GTIIT:;VI[*&"Z\\P_)Q6KFMMJ-8%(Z_Z9V=?8>7L3#4
ML5#4JPU"GNYZ'?4^,@+>]G[1!HJM"I/6\J@VX471'H)S9O>NT6R,>SV[<RI?
MV?SA-_\`FWG_`,4NW/Y&1[!V_N74J6M[,\O4%:]AW[QW8RBNT;'0H.(3I+O8
M&U=>PXV%4T0DH#>AZ^:6L7`MUE%6BZJR8N#`43B'#U6@E^Z,5[L_;YF2?+N8
M::3L.[.<H.C;;S3S,HON^MWZRMLQI@=YQUY82LKX_-EM[/H*NE?ZJ9;<O,C4
MK`TETZD5O4$G3V-B$GT&X>\@B=\8JP>V4AAHOWK-QIZ=**VTV[C1IK6HLIJ]
M)NK5*FY?"Y25/M+S89/KTUV0\B-K4&)=WB/;0L=+33MAK2%!^SGX^`;_`'+&
M3\8NB+9R+=)--=03'*`#V\<PO3XH\;;A')/%+#<6W+$M3!V(3E"4L.).C74]
MFXT)K_R:\@9_9=.FI"QOBUN[[<G:1+T6SR6H:Y7ZQ!14G,1KJ(K<:RG5-K/+
MVQ:,454/FVYD'0J"H8H!QFSUNC2PC'KHJ^\X_P#3^<.3_P#-O>Z3[O;I+U4-
MN[[@HK3^R);>,K?!WM![K9-M>2E=A6T+`6+7L+:K#4W]<6KL`67,Z(W@$T7K
M1<RJ#PGN&`H'$,\^34I.4?VMNG5L,DM!S&S)VG<E*4<*U>-,*^^AHZR[3N5)
ME1V]6=VLM_;&9>'EPV$C&O2U4)ZAR]CL]`:S3)+[D%@WK-79`J_,W)+('^74
M15`W``(#?I[VGM1:OQ3E6N*V?Q+K7]N\SYBG<MZFY;4?IHI-5;QKGLR3+]$>
M1'D=$P%ZK\ALE!@R7KM0D"6VW;.U=LJXT=:SWF%A9"U-QU:FHTBJPR@7RCAL
MH]0.1`.U0_)2F'++VJTER#C9C%7-Z5.ON+8?VSS'EK]9?U5RY:CG&4FTZX+!
MO96IUCX?'BT_(#RNCX[<+;<R)#:@`MT^:J;Z506>5IP[/!R<K3FS6*DED4S"
MJB8I1.FV4(0P@)>`S2O7II1G*32RQ+CGRK67QBBZKYMUO=4CK9*=DM\;B,PB
M[4M65;;9$W,;%HQ:$,T<@I-.7JLF*0-$TR@H98"]@".5-U=7F#G@-Q^3-8I]
M;J5UVBMJNRZWT3JN8JA++MBM:\^^WRL*=1TZOU6LM1G[+?&BRT<#!TFT7(N@
M8AA(E\0G-LT]_2VH<-Z,7.NU5P!THCMZ2L=RL-GV]Y226E[W5K7I^(I6N:RZ
M:.:Y:H*V0U0D%G*5&FH9&Q7F/M$BX=LSJHI"HU3$ZH`7M#+/5Z%?2H0X<>L'
M,^O-Z^14SL5O9)?;,4,C+6S95;N^LK%NYL\DXN`JT;;F@LZ[H6`I1)?7TK"C
M'MUT)->1*=T!R+'$##G7K-`_Y(=B&)L>F4S9UN@/&I*Q>77DB*6W]$;!V?;Q
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MHFC:WKT-'1%07>1]>K;A`L:^#YX7BR+XH$.D54R90(`CQ>EM*;MJU%<*C')[
M,MV/6<S^:5PUDYM$]5:>-?3V!4MZZSME\T&_H+F(O?D=;`?UW[GG*9;8ETM9
MW4.VBA2$7+?_`(<JD4<CDWRXF(>#R3JM33M5IGGCKG9L'!E:6K:FOMT.+U..
M'+J7DG\G#LM?L8*"/**&72B(B.:M7)P:(G3:BY]PY$R]W`@==.[YKBUZ]G[4
MWGHVS:[1B;;^T<I$*G?LQB:Z$BPM#0Y&H`[45058.6RB:8D4`Y3!U#H('Q.4
MLM-\H*EM"[ZJD:%49*!\9]HZH\<=`U!P1_;ST([V,4NL_;@;PJC5@XLL/%MD
M8F/(<AVZ3D3B(*F,.#NVD[D4\N)?$BW)-TKR%K\M,:%0<6.A:[\5Z+&[71A&
M2T>W2!CLJDV6&UY+C\D@HK+5FMP\DJ[23`ROME,0X!R`"?0>NK-I.DX1Q>'M
M^FPKM\;'JNV5]\;'UF_>R&EG$1XN5VR;)K%2DED*C8XR\R,N_P!E1S=W')R-
MC>:\B1;`HX(8[-,B0)+`)2G`/)U%V[&_)1DU'Y$>3:RE&-:NAT5X5["@:I:M
M^S4GL27VS5+CLK7D9#>2=DJR5:7VE>9R$=('HK2)K<.WAW:%0310;IOV2*$<
M<3^V/"A#F&_17)S<E)MI4S,FKMQA&+BDFZUH?6,#B?XA)[8B(@8G''88HB4Q
M>/P&`<WF$F%.0I3\F[3_`)Q.!-WC[9%#G[0+\1N"EY$.O/U8!\:8."F)G]W!
MY+UV0BYU:5E=C[I;M(Y:/EB2YT9O:1G<2[CFX%:R`>XV<%<MUD3%$O`'`P"&
M>3>NW5<FE)I*6\]*U;MO@3BL85R]N@T[O+5UITK`[/UWIIC9XW3K:2\8K9M%
MC)KWJY1C*JR2-F3VBY,T:6(MA?-9`S-HO*EC%?<`!+W$,(EXXCJM3;=;5R<<
M-CZ#J>BT>H2]1:MRHW2L4]NRO0:><UY*3U.Y:A<@<Z93WDXD*:DIK#R37\>E
MF3FB+MYB$GW<K.NMKI5U>563.P5;%^3CYE'E$AB#\5\.:<RM7%=M:B[&XLFI
M--=3S*OQ/*WGIK/_`"HLMA82]NI^D";*HUHKFHH6C[0C*@2Z0_D;M"+"[P]X
M?IPTW'RE3/4MB,GTU6U6ZM5--,R?+"0B8&[.X0TQ_N'GT9.<=9J5.6;\R6-,
MJ[]P?*>54_\`QK+_`.&)]`;/4+S<?W0UNJ^P/VQV/=!T19'*S*PUZR5VYV1U
M&J/Y6K0CN'(Z<6EE.D0:L0+W+*.3'3*58YN5!S#/4ZB[*5RY<D[DFVVWBVW5
MMO>\V8Y0A!N$$E!.B2R2621SZEI2+G;J_P!72%.OS75X;M\,V#F!2&SBP_9I
M72UE=W*/<.Q3.^-!.K!)I(RZ8*^T83`54.[GCNUS#7:=<-B]=@F\:2:^!9;T
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MQRA:;HV+CJ_;Y1Y%[`8W.YJ3U7CG\4DF[I^PWX!$F9RTL84DFA"B"H`';F5<
MVYFG*3U%ZLG5OC>+W]9CN<JY;-X6+%5G]*>>/B]A>[O4;.W&=8VS4EF_9AQY
M`3TX[F]BTFZ;:8P!W^G*4>(<OM=TQ,B.PIE]-L"1I7/`(I/R**\@<YS#1=UN
MLO2XK]VY*:5*MMOJ--K1Z*S'AL6[<8/&B22?3@;?\)*_=FUV\?'5AH=XK3&$
MB_*XL?\`M13YRMJUF"LUGIDA5()S'NY.=85V*?M6#A=@S*Z`0*F(=A3!QG>E
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M%<`)"`901#+WS;FCP>HO4I][%#F2Z>.&Y9+8,A!6^D[JD;AL&SZVM%3N%%U+
MJF706CVS2LMVHSF\;JL6T:Z/KK[O5,Z8IMT@,*@E3[N\><GFWMLI"AU-6_&.
MQMG--L;[4A3WIOYZ7.\6R?-5XV.FW^M7478H<+"^D`5='_9:;*=!/M24%!0J
MA3%0*3@H>EII2E93DVWC\2#D9WHZ_16N=<P9O'#;41<:,.]*"8]1TSK>^:]M
M*UBOKZ:CX"Q4"XN(X4JM9(9RB9G:&;]BLQ205!,`$X$->#ZF[[J>U'GA'7((
M^JZI-WV%B=7??>N*[!)VJJP@0,M"A/+U6KV27@VT^I5HYHJLQCW#A1!04BB4
MRG<'('S^U[XY;QL>T5)ZVZ0M[[7<]Y$^*>T$E+M4]8TQZ^KE%KNQ(FT2LWK*
MHD<5>#;0#IW'`=`5G+LZ9D3F[A#H!FET\8]S?YRWVJHUC:,H6U[V@MI4BWU"
M#T^RH@U9I,U=TFXE;Z\C"7JE/:*TAE2-8IL;L?%+[8"4J@<`?>1JF=+L3,4>
M"-D2=PE$3<I@!!*)P'V_HYX*`>N`5N`,`8`P!@#`)2_]D?[/RA@%N*<Y>A3"
M`?@'`-8V"\U^L7-HC,.I!)5Q6%5!3;,%G)50)(@4#F.F`.Q.3Z.P!#CU'C`,
MD@+[7+.H\1AI!P99@DBNZ;NVKYHN1!=0447!2.R\G146*)`$H_G`/3`,^`.2
M@!P`>@<@(`/7^+UP"@^`D@MP`%`&*//`<``G<+`7GCZ3=N`01/\`@6GZ)_ZP
MX!=,`8`P!@#`&`,`8`P"4JG[H``CQP//IS@$GY0/YX_B#^7`,$V?K>-VEKRZ
MZYEG[V.C+O6)FKOWT<"(/VK2:8JLEEFIU2G*55,JG<'ISQP.`<QVOPLJLT_>
M3\/L*\T^[HS.J[%6+C!A#JOJE,ZGI$EKZ)&/82+-U'/8B>K,NX0E&*Y#(.RJ
M&`W0<P7M$[MR5QS:J\J9&VUK/*MQMJ":2>W/I,6LO[O[6U\I,'6-BWO8ESL,
M9N.#WI*[$?/(EA;+)=X4B30C.1/'1Z#-M4#0R18]*,;D3219%(F)E`(&5_CG
MMN/L7B6?D,<+<:4WE;$>"-$J%6V+`Z]OU^H4IL+<9-T+6B#<,7$E$2Z;TCHE
M7192Z4A%2=+!-9XG]W.DE&X_/*&[.>,+ENSS'V+Q.HZ]RFEP1H^DW-HOQ]JF
M@Z=.U*L/I*3&V3\M:;7+2*,<R5E9^=``E73**@VT;!P+4_:'LH-&Y"(CR(B<
M1Y"Q<M25/-?_`"KQ+I7(SDI22365'^NWJ-)K^"U69L]<C1]M;=UG8]>4V8UV
M6WTV1K83MHI,]-*SLC"V)6?K\Y\PHF\5'Y1P02*-!^(GQ``@7+:9795ZEXG;
MOQ><8M;JY=WO-HZ5\4M>Z,LZMFHK^RD,?5]1U6>*E7Z#Z/7C:C+S<TWL+X$V
M[95_:)1W.KB[=*B83B("4"AR`H\L2_[K[%XE5Z_%I1HJ5KG[>V!9=P^)->VO
M<G%ZC]D;-U5:9FJ$H%SF-;2<-'O+G3&[QR[9Q4HK,0TO\B^CA=*$;2#0$'J)
M3#VJ<Y5J-`[=MW(7&Y)94SQZPK\+5MR:BUGNI[/$UY<_W>^M[@_M8AM+>-:K
MM[B*W&7*K5N[ILVM@7JC-I'Q$B\G7$>ZM9E%6C(GS:!GQFSI3DXIEYXSS."_
MTU*US*WMC%^\R![X):M?W8+8XN&UDH=:QP=UF-<QUQ<1M!L-V@6*+!K:9F(;
M)`X7?+$:I+JD36234=I@J8!ZDSTH<O<HJ3N/%94^9#YE;>48UWU,WJ/B7K.D
MDTTE"NK$*>C9:[3M.!\_3>&/*7XBI)UQ)*+(&.Z#]<;V0$?U9>@>F=_CO_N/
M#H7B8]3SB-J7#&W&2DL<6O=A\BW[I\0:1NJTL;B[O>UM>SI8!2GV5QK"UHUE
M._4I8'":M4NR:D8_-+QID7:J93%,DJF50>PQ1X$#Y=7_`+DJ]2\3/'FSU/\`
MX[MQBI8U3>#S[&;)UMH'6VI)Y_/46,=PYWM)HNO4XL'JBT1'5;73=ZWJ["/:
MJ@91,6Q7ZAE#F4.=0YA$1Z\`7+VO^Y+L^9W4P"_^(FLMDWFP7JR2ES!>U-:8
MWGZW&38,:E)+T&>:SU:EE8@&ZBI9EJHV^747*L'NMSB40^C(_'?_`''V+Q(*
MN[^)>J;]*7F;EE;;'35^E*5/R$Y7+*]@IV#L6OHPT/6)NI2[(2NH!XUC554E
M`()BK`H/./QW_P!R78O$UV=6[,.!13QKC\#/-/:/I>CJPXK%+4L#TLA+.9V;
ML%NGY2TVJPS#T0!V^FYR1<BZ>'43*!2E^%,A0Z%R?QTJ4A-N75\R9:QR=7%)
M;MG>GCT_`TTR\%-`-H"O5=Y$V.=@:?N9'?-,CI^Q/I-*H[!0DUI@JM?.L;W6
M,$I(*@H=@!A1,8O(^HYQ^,O?<^PL?,)5JH1[_;>7+_T3^/Y=>S>M6M:DHN$G
M=J3F[5I&#G9:$LD7M"?E'<P]M5?GXURWD(=R@]?KE;ID.9-%!8Z0%$HYYW#?
MW'/KIUKPQI2E.CY[>HW+JC3U"TO6"U6B1CEHT5?.9:2DY62D)N=GIMZ!B/)V
MQ3,FX</YB5=%.8#JJGY[1`"@```9[6A4EIUQ?NXF9;UUWKG'))/H.;=(^*KJ
M#NWD]M#;S2AO[7Y'S;*"L$-1V[LM9/K>LPBM>@6LD#P4GIK#.LW2SI\8@@4C
MA0!`QQ*!LYUZF[*X,^+NHR;5SRI<:57\"^0G@=XS0D#;*Z-*DY]E<8AI`/U[
M=;K59Y*,A8[M&,C:S(RDLJ\K+>/.F0R?R)T#B)"B8PB'.>0H7FZ4S9J>ON-I
MN,4NC;VU[B;7O!#QCK;YW*M=?KR4O(2%<E9*7L5HM=CE).1J$RK/59Y)R$S-
MO'D@O7Y%8QF@JG,"(=``<]'\9>V-C\A/[8F53OB)H&R[,<[=FZ,5_=WTG&3,
MDNK-6$D#,2T*0B$1*S53;RZ%;EI:-;(ID1<KMCJ$%,IO4,?C;V=74Y6NFDHI
M))+9_!FSKQJ:B;(<P;RZ0+:<<5M676A%'/N%^[U)^%>U^7.@"2J?!WD6^.F(
MCSQ]&'RV\]O<3'7.*X5%4Z_D4T3IG6\)8J?:XRK1[2>H%/7H-.?I`X`T'47)
MVAW,0@07)DU"K"R)R<P=W3\?4.7W834V\$UL.9ZR4X.#6>>/PPP7M4Q2Y^,>
MC]@WA#8]QH4;-7)"MHU+[X5=2S8SF":/TI)BU?M6<BW9/CL'20&2.JF8Q!$>
M.`Z9Z1C+S;]!ZDOR%O;6^C5Z<0OK>%;7!)TR4$)].M)+-ZX9\H5R#DJ\&V<*
M%;*HJ(JIF.)RF`W7,%W0^;<=SC:J\J?,V6M9*U!044Z;?##XU+QJ?3FM-'UH
M]3U=3X2G5H':\HJRC45"BYE7(%*>0DWJZCJ0DGBX%`IEEE#F`I0`,NT^F]/7
MZG*O057K[O4;5&O;+VZS0>@/"S5.F7'[3'K%<G-CIR=TDE=AC$%2D%TKI-3$
MF_9L$S.%&K8@LIDS19R"?S+I(GQF`![0NN0\R#A6E52I2FXM2CA)9&PZ_P"*
M/CC57%L>5W35!AG=YC).&M;F/@&J2\Q$S/NDEXU=4X*G292:*HD732$A3@`<
MAT#C#^/_`/N/L^9H>MUCSN,S5UI;5TH+5.3HU7D4VM(?:Q;)2$*T?)(Z[E%D
M%I&F@D[*NF>$?BR;`ND8!]SY<H]!XX?CU][[/F=+63ICC)YNN;PQ[LLMZ9CL
M#XI^/]9H]BUM":JI#"BW!N+:WU=*O,5(NT(^P5LF2;^:*Y>O@:HHHE;B9;O;
M`@G[)B=O73I]/Y":K6I7?ON^TVJ4]N@S37VEM8ZHC7$1K:DUJDQ[U9D\?H5Z
M+*Q%](Q[-*.:/GJOO**/5D62!$P%<53"!>3&$>N678.Y;<$Z-[2E-Q=8NC]D
M65CXXZ0B[RZV9%ZMH3'8$@Z5?/[>E5HPTZX?K$,FM($=J)&*VD%TSF*=<A`6
M,0PE[@`1S%Z#=/'?3YT+WK-6U3S)4ZWXE]9ZLHC,*HS95:OLD*(]D'U-1:Q+
M=-*M/9`CE-X\B$Q$Q6SERDX.10W7O*<W(?$.>C'Z8*&Y4+%K)T?$JR:Q=?:F
M_`M=<\?-*TYQ-OJCJO75:D+(5X2P/8>F0;!>=(_65</49H[1L@>4:.UW"AU4
M%A.D<QN1+F;4Z;U$E)2X:*F53B>LU#PA-Q703*UH'3-.A9>M5?6-#@*[/MUV
M<Y"P]3A(UE,LG0J&<-)<K1FD>5;J**F-VN#*%*(_"!>`XKLZ-VKBN<;=-E"N
M>HU%U<-V;E'I+S1M1ZWUJ5RG0Z+3:<F\]D':=6K,7`$<%9IF18^Z$<DC[IVJ
M1S%`Y^\X@/'(!P&;2HMZ^H-4O9M2P.]::^<SJTA][.9Y]3*T\F7$H!RJ#(+R
MSJ+5>F>"9(@@H!P.42@(#SQ@%?/:FUM;WL?)VFD4ZT2$,H"D+(3];AY^0B52
M@805:2$LU>NR*@901#XNTH<`!?KQZC2N_/CXG'"F0+@]UQ2Y":C+*^JE4>66
M'3*C&6-W68=S/QR1$_92)&S*S8TG'^RAR0HI*E$`'I]65>@E_N/L1-2!'6M)
M;S<G94:K6$[),M#,96PDKT82?DFIDS(BWD)HB)91Z@L@82JE45-[O/40],>@
ME6OF/L7MU[Q4NB=-K2)6)482&(6,9N8Z+_\`O1'F-$Q[LJ97,=%B+?\`X"/<
ME2`%$2?`<`#GTST2"VNM;TMX,?\`-52I.21)VQHI-S5H58(HK0YED/NL3->6
M*B#DWN)F)^8;J`<]<\C6<J]9?\_S''!*E$\B^W?=N'"OBRHD*'59:7C+#*U^
MNRM@A"*$A)R4K\5(R\3[@AR=A)NVZLBR,;CX_952`W//`#G6@Y8M%>=[S'.L
M:4:Z5C7W'7J72E*+H;1>F\,V;>Y[)$4Q544<*BDV12]QRL0$E5C]H?K3&2*!
M?C[S<!U,.>OQ"6IE)--8LH75=C#/V4NNRCG$G&F,6-D5HQFM)-"K)&(N5-^X
M36<(E5`1`00%``*(E#H.<F8C7!HD9N)TFB3GAP1JOVHD<$(N!0=)M5>2+M"J
M]A>X2B(CVAU$>!RB2USD_(M*=M;:M?H3UF&Z]U]5-<5=&F5.+0C:X@]F9`L:
MHFL)05L,U)SDV]44=JKJ.@>/Y4_<8W'<'01X$`";?JFWY\%&.].N.X-)=9D+
M2$@&*W_"0\,S?'(<P.&S%DW<IH*"0'`$<-VYC`3W4"E,0BG)03`1$``!"X)T
M=2K;P<?'IJE8LV+$KI55RL:.9-&B:[M<0%RX4*W*!%SKB'!A.43B7D!,/.=5
M-'J=ZKUMO`?=J#%LDBT28MD50,4Y$FB;=(QUCF!4Z@)F!(4C@<?A$H@7UYS'
M<TJN3<^*E7N'J7CAWY=W\2:E&1J35NU.P8"F@4ID6Y&J"*2!RG,<CALW`AO9
M$%1$Q#@/<!A$0'D<[LV%9K1UJ5W+KN9E6F=`"&!=P8AD^0,HXX+[@!_K`8PA
M[G`=!$,O*BI*U(L4#^X4>!`[=9$>3D-P8.XINI>H&ZAU`0P`+`HB405'N`_)
MCBFD)C)\]PH]"%*!!'\`CF.>D4YN?$ZMUR-$;[C'AIA3?W]9ZJR,H`@*P?$`
M@;E!,Y3AZ=IRFY`Y.T1Y`>G/7(]'MXNY!7XK#APZV4WMII$^6(DD5!(`(FD"
M92IE!,>G*1>$A*'`<!VAP(8]&ONPZCGSFWQ-?4^GX;4><<F$QQ[^>..[KZ<B
M!C`/<03%$>@@`<!CT2><GV'7J&E2*214*-@.W5!4ZRA5DP`X"H)#`4P<""9D
MP)[8_%Z^N<>DFW2M2ER3=2B*EV&,;D`$Y@4/V%,3O5*/PJ"(*"/4/SP'GO'K
MT],Z6BDL)MH[A=X5E7V]L2($P`0.!C`J4!!-3GN!(!`A1*D13O`B8@F41+UZ
MASG2T:3JI.OMTG7G[&EPO/I]^\EE1.41_6\D%1-4$_;[2]Q3',K[G:<`5]TQ
M@'KQVF#GKG/HE]S[#IZFO\JRIGC[L,"J33$Z@`50R7=R*@)E2`J@\?ZX"F(\
M?8(9/HZ93?8CGSZYQ3ZV\">5D8IOA6^`>.Y/V4P*/:/).TQ.PY1*8>?4<>B7
MW/L)\]/../7XU*0"J`81,L<X"(@)3%2`HB'IV]I`,7C[<LM:96I\?$W[CF=U
M3CPJ*7:6QY-0D<\:1TC*1[%],`HE'1[B2:M7LT9(/UB+)HL<%G!4"G'W#$_-
M`P<YI*2%^[C*]'N)63E6T-#Q;<!6=/E6S6-CVP&*B0%5SE)V)=QP`.XP\F$,
MR>D6R4A*>HE6MQXNN2S)Z20*`DY:N$SMUTT54E$R(E,NU4)[A45U3)JG606`
M_=ZE$0$!#C"T<<^.5>KYG2NV?_W5W^KU++8356ZBRJ*@G*3Y?^P`O?PD'0.S
M]69$3IB`!R!N>>`R):*+_GEAT?,.YII?Z,^*6XGF3`YB&Z@('`RH=RP@J7M$
M!3[15$"E$P\_2'3TSGT4?N?814C,4_4$Q`I1`0,D9,#HF[N.1.0OMF$_3U[O
MX,GT2RXW3J%2$2G^A94O3\P#F]L./HXX,H!?P<B(!Z9IMP\N'!6M""Q.KI7F
MC^-C'5BKQ9.6?OXF(8#-MVKB0DHE$KB5CFQ#.3BZ?L4#%.=``]X"<F$``!R9
MK4-?^-#CEM5:46_)DJ5B+_KSX(['2N.[-%^3.)/>.F1(QW':H)Q,H<O($*"8
M@0PF'X0`.0[NH_5E+_(+_M1_YOD2KNAIC=1$140`??*B8!^(1$ZO`G'U$`.8
MX$*(?0'IDK\@_P#M1_YOD1*[HEE=1Z0Q!.7L<F*0RA3>R4WP]X"'!2G[.XJ9
MA#J7Z>N&N9+_`+,:?YGX$KRY*L'6+VEU*81YYX_@'G\@9-J6H;?GPC%;*.OZ
M(-)$67G(P!@#`&`,`E+_`-D?[/RA@%LP#`9>EU.P71BI/5Z)F7!:PL"3B2CF
M+HZ1!D"#V%]UN;D.OT_Q]<`S"$IM7K8.ON*"BXCYPI"N?NYBW9%6!,>Y/W"-
MDTB',0WH(AS@&2@'```CR(``"/U_A_AP"W&)W2"X<\=[)L;[/:<N#!_2[L`A
MB?\``M/T3_UAP"Z8`P!@#`&`,`8`P!@%,Y,8I2]HB7XOH$0^@?JP"C]Q3^\/
M_2-_+@&J-Y[68:3U%L+:\R59>.HE5F+"LBD=P*JQV;%86R":39L\75%9P8H?
M"0>W\[Z,`YHA//C3H6VPP-]E6]/B46FLW-:F5VEG=K2H;!KYYEZ,D@A!F7@4
MHN3%)FD=VDV(L)^4S'+R.`;JF/*[Q_@-CL=43%\C&%T<23"%*R73DP8-Y>60
M,O&1<E82,35ME)OTTQ]INX>$6,;@O;WF*40-B;;VA0M-TF6V/L:>2J]+KHL@
MF9=9I(."MSR$@SC&*'RD:U<OEE7DA((HI@1,>3*!Z!R.=0BYS4(JLFZ$25QI
MJTJW-BZ>XT(;SB\<DWC%HK>W"(/6D<\465I=P:-X!"7$/NDML=.8,6];=RH=
M6Z$@9JX,4IA[..N:GH=5]C[5XF7R><Y>7+_X^)D*'EKH=[L`VKVEP55M@S<A
M6TCGK5J3KZ]JB682,G7D;0$:G7%IAHP_6&:D==_`#P`\"&/1:G9!]J\2?)YO
M_M2R_P`/_445)\R?'W8[^2;U+89CMHZ"E+)]\O:]/5VNR,+`&4+-NH>:L$9'
MQTQ\B*8BH""AU"%#G@2\CAZ+4K^25/=X_P`"N<>9P:5R$E7_`"[/>4+#S5\=
M9"N6:U#='L/#U"K-KS+O[+5K9!BI2W;HK-"TPR$C%-W%CAUU3`5-=DFX*8QB
M\\"8O):2Y!\5Z+5O:W2G<W\"FY^2NP=NW"4IRV8>)8VGG+H-:)LTPK.VJ-=U
M5Q7V3ZI3E*M,9='PV]T=I37<14Y",:R,RC:5DS`R%L!S*%X$Q2@(#EGEZ-8<
M<>^BZ,J]QB]%SY8JQ.E=\>W]U.\PVX^8S)6.K,EK]XC%N+-'[4(UK6SZ/L&O
M6=S;J#5UY]2!08.6[`8M6/39F771<E[3HD.5,PF',<W#B?#E5_+VH</1?W#A
M33R[8_\`45L/YMZ]N=`EWM<FGD?>(O7\+>56=@I5VAFDE#2+J.9RMFJ\:]8-
MY"P5N-?N#I&6;G,*)@X,`!P8>6UL-%O2\Q4?_+M.-Q[^'+W-_H:G=>;5[81E
MLDY!.J@YA;CONK0,'%U6[RTA<1U/24+-!JQYT#)A&?/_`#A5G)54P,"29B\]
MP9Q.<81XIND37I--J//7T[]VYF]M>^:&N9[4Q;_<36"I2\3KFB7>Y0[^IS4>
MZ9+WMK'M8Y&K,9<4W4T1U87GR+<I2G[W`=OX<I]58^Y=Y['IK_VON\3IJ\;#
MKE`H,OL*Z/1KE2KL,E/S\LX24^:91H))*'+\M'HO'*L@J=8J1442',=4W:7Z
M\O3JJK(HRP."]V?O`&E<TMLJ>U]2]CP&VJS#4V:A:SLO6LHT6/7[S<&%.A;B
MSB?GFY+1`I/9$HJ)(ND'!3"`*@F/`8!T@MLS8=-\7)7:EF9+VR^5C6T[<)*/
M"MDJKB6FHJ+>/#,@K82K@(-DR41*HL`NG'<B0P`<3#QE^FGIX7HO52X+&3EC
MAV)YY9;:[#J$93EPQ59'$=4_>#75K;F$GL+7]YDZ7/\`B[KC>*U/I5+;NK70
M5)1U8$+A:;&=2P-U%*.JQ:IO&/L%6>"B40%/N*!<]:>H_M]QI:U$(RKFU-X?
M\N>SOVEZT]^N,'W>)TK9?/+3U>?.73*+MUJIT&TJSZY;*K+%@^HU+);H>/GH
MY6<4=3K*0!M]S2S5PH9%%<J":P>X`"!@+Y2N<K:?%>@L7LE[JOA[<#GTU_[7
M[>\WCO[<Z&F]#;`W!&,RV1Q6JLO.PC/WVZ;22=21T6$")G)5$V_W<YD'2?!B
MG$.P>0-P(&RARM3?%9:<.BM.\JG%PEPRP9H:E!YH5:5UQ.7V^ZYVC6)E)1SN
M.IQ-8;4O_+%J]BU9MN^J,^WE)27M;.%5*#58CM(BS@JA3@;@H@/=MZ=-^IDH
M0I@Z-X]2Z*G)3Q/GA4GKI!]+ZSV?4J78HRU/];;)EF,+^QVSUZ=%R4O*-8-!
M&6=R;-9Q%1"Z[(CE%N9T!.`*!_ARY2Y4I)J]!PKM4JI=#2)++'^?195=FQB_
M&S?+^3L-/)L&E1)&%6;.;?2$RL!E;&W=+67Y:-"*/(H>X@N=$XE./8!N!#-S
MN<GV:R%=_!+W)*F77B2FMQ5V7SG:-)I%K5-.[7OL"EK&F[@L]IJR-8-&4NC6
M3Y\YG;MDZD6TK)34>BT6479H)JJ&;MQ.0O<)0%"_R5+Z]3;JN+^6YCL5<,%M
MWJNXMC:NS7%"+<?<07WSTAJ#/PQ)'5VP'-"E9"I19MDE<T^*A3#;D8URPDXF
MLS\NSO,S"HM95`SU=)D8R`G^#N`IA!YW).'_`/*A[XW*^^F&&RBH]J.O(O?8
M^U$Z#\Z8^8NZ=:#2VV6=)7VI+Z5;[.<M8!&"=;-B_FA;03.."<<S+R%E/E#%
M;2A>Q(JH""Q0*'(\WKO*7;;LZF$KM*)<,\7T/AI5[FJ=*S(=B\JU@TJ5V>)5
M#Y7/]VP]#JFDF$A7;Y?H"Q6M[)RBC(S?6T30[RQK$^WM+447/O/)-8JB*"8"
M4PF/T$?H\DSE=K/S:C]D[RL.H8C74X>(@;C9Z$]MQK#4%96+LU70%Y)J6.AA
M*HVFNUETD)C,7AT%`6```!X$`$#>>_=TN=(Q-%D&%*D[Y,WV_1>O8"!B92.B
M7:DM.1TH[:N3.951-@#1$L<8RO>/0H=`$<XG<A;IQNE0<T53S<OLO<Z?7+1X
MU7BI0D_L&Q:EL=N&V0$^PK.RJV@J[2@6\+%B1Y.1;]N@8P2#8P%,(=HICQUK
M]38^[X@MT;Y]$=;.'7T]K-M623$7=I2HE-M&C3]\</*5`RL\K'WK6,$_4L%+
M))MH-<R2@G4*'M\#ZFQZFQ]R[P7?6'F_8;I'0+V<T)<JN-YU"\W+K9$EKJ-G
M<W2)C9-FPG(IS]UKQZ%7=LTI5JJW%T<I/:6[CCW$,&/4V/N7>*&+P_[PXSIW
M9JV]UB:2O[%+7_[(537^R:WL*+L<EL>Z2%'@J])7*(*QCJQ,1$[%+C(HN4E#
ME11.!#'```[U-AY27>30N%A_>"O*+#WUAL?5`4;8E0OM1UM&0,YL.")4YR4M
MU9>6HEK/=`02+'TB,BHY=51THW%8Y"E(5/W3E+G4;]J4N&,DY,@F5?SKF-E1
M-&9:VU\SM-YLUWNVO)2-0NB;2H1,_1:BI;0G(FUD8JFG*E/H)]J"HHBJ(?GD
M#+0>5'SDMKI*`LNR=+J46A61?:,"C86%ZBYJ19VO4<7-/K*W4A$&Z3IO$/U*
MS*),7ASB*XHIF421`Y<`P.D?O*3V6)N<HYI=4=.6>O9_9%&@*AM-O:9)U#0)
M&;]@QO**,.U6ILI,1KTJQUECJ-"%$"`)S@)<`]W/Y>^1<5JK;D6XU97M:[*A
M:7K[8=;7B-HH6)`M;M-MCX29:OI,\$@:-FHM4XH'!!%9N8AQ%(XFXX`^H=9=
MSC^`AG<XV;LIEPQ1/)LF#X[]HV><"*J2+PZ+8ZY..![A(4.O3I@'#-F97'?G
MD?L35KW:6S-;4/3=0H$HG7==2):3/W2Q7M&0>#9GMJ33D7[V`B?D@32:@BW2
M*X*)5B&*8`$#`=1;^VE2-A27C[9YM#;*M9\BXG3Z.Q7CIFVLB]0FM?.=@(RM
MF)"BE&/;G%?*?)N4DTD3&1]H3)`<YN:IWK=N7#-TD61M7)QXHJL47>/\NMW7
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MH[5VR:U?G]=@*1+S3J[UZRT*(GIB.86-69%9B]B[_'5Q4R#A`A!8"H4%TDS"
M/:NIV8\=W"-:9I_`%5;/,+RNU+$2)]ITS4+MS=?';9F\=72]*D+-]SP\U1(*
M#G1HU^3D7RJ[R.^[)P@_?,<=!`ZI1[0'\W,[U-A?S+O!!;/+/S#US![#@[!3
M->W&^A5=1[*I,M0JQ=K%`5"F;.GGL-937&N,Y->?MJ^OT&AUD_NPJ1G::8J"
M3@!R7J+*=')=X-5SOD;=-M4K7JUGFM?W&P.;#Y%Z]EK%IF=V'7@&*B-&V"T1
M]CE:4](REJC/LG*!4P82B3LA5`]]J8.XF>CI==S6U;IH;#N:=XJ58I/8_P!S
M3P>'N]Y.-*$3/=?D/KOQ[KM,V\VU3965^\4WUOU:VIDI?HR6BIG7=/K+^8A[
MG-.95.?DU'[%Y\RZE&SILFH]'VP$Q1-E&JU.K<N/7VO*KMJG5_;]+>*2KN2V
MC%JC,(96"\-FMM7K;V,2L<WY)^4+/7M@M*MLFX;7P1_C]%S;4D;%,I2);#'(
MO"KHMR.C+IM%`%;@7`F`<GJ;'W+O(-PU3RTV]I[0.OV]MDJ[;+A=/%K6U[TX
M*L9+LYBR[*E+(PK;^%EF\Q*A*6"15B[M"+J)B03F.158PB`',6?46/N7?X"A
M]&]T%L"7C1LT\^5!_.HZ;GQEBM32#!FZED:H^4E2-@8.T)1FBLN0P<H*IK`'
MYA@-QQ9&49Q4HXQ8/G7!>6^[*U<M:Q3]_5JAJYW%:=AX4MCUC=YBJV-O9J-7
M7LJ+W<->DY!G5KV25>BDVB95JV()A%190W=SG0.Q/-52_E\?W[S7MV;4RPL+
M5KYXO97S*3FQ3BW=S9-';%FC$2<`LL59$PD40]PI%D^2F$2CR('+G_J:\EH6
M(VGM=*T:G+J_26Y4-0S=&EZC)L9NZD83\)7;):TKBUL8M*S*2<A/"XC(L&AR
MD;$+R)BB&`=F^56\K#H[QWN&UJBU&3GF3>$;P*<BU4E6Z4A:9UO`QKMZP9.&
MPO$&!WB2ITR*I`<`X$Q>1',-SF>@M3=NY<2G%T:H\'V$T=*[#B=+RG\I8.A;
MIL]J?M(]32"5#O1938>JO\IB;'K3GW$KOK5I4E[?-2S29?&;+?<LR@L"2BBZ
M/P*`8.+M/J]-JJO3S4N&E:5PKEFD010_D;Y/[3?^-B]$O=#I,7Y.3&UI./0D
MJH-UDJ#3JC#Q,I4(1\G\]!(.[F1T_,>=34[?91`Q2<@3@-`(:1Y*>3>R;CJ&
MNQMRHU=/'Q6_7>U0:49Q-MMHFTC98>)3<4L5)GNK+>SD>&,GR;\T![1'I@&I
MM7^<_E5:V%.O*,9(R=7V;"7M2)8VG6$%K[6M3DX*`LLY7E(S93V_2<S:2,7\
M*G'3)5FA0;\G5.1'H(>I'F7]JPA&-_41A>22>%S-*DUA"E4\*IOK-]OENNNK
M^G;K@GG&M&JITK556521$>8?E6%$V#!/[H1GNA>DZ\LU.J>P-0PFO9UN2TWH
MD+=+'1)QU<G6O=G5*-;+I-ZV`.$7$HJH0!ZB(!AUVOY/>N1ERZ[&=M*CHI9U
MPSBLUNKUE=S0ZNTZ7(-/':GEGDWDSZ!^&FZ[5MBN;!C;O=7MGN]!NJL#.PMB
MU.^T_L"EQ<A%M'T#%[#J1G<K&)VQ5--=Q[T8NLP4;+)F*8>.W,?J+*='+%=#
M\"GR+M$Z8/+%'*'DOY8[SUO?MD'HMX=O8G5-NIT%+U^-U,RE-<HHSQH-9U`[
M)VS/3<6ZCKLO#3(NFC6(9G[TA2$Q1.8<CU-C[EW^!*T]YTI%XJNPNL7Y`>1Q
M[1+;'5V?&/M>U_S4:>.@ZJ:4"/;.'-'F_N:,,+VS"\4DT;+`RTH"Y5RD$%$R
M]AA`!$0O3JJK(I>#H\SLOR]V3LC5FJ"2^N732.FYN]4*DNK;)M%9./I$':9H
MD)*719H<JC-9>!%PD8$G)B(JG,(G$"]0`X3N7D#O>C7);1;;?4/8G</N#2U;
MDMY/:U7/O)&L[2"WJR=%L;.->%J;"]1:T>B+5=)LD1-+L]X#EYP"BLFZMCM+
M_48-]>HJ]R>M-O[1UW$;;E*-749&RB30\A=V)XUW&D4C6SR-F"';/_NX44%0
M02,)0-U$"Q6'9F[X/7D<RV/MDNWXO>'B=9]K.4;11*R6OTRQ5-O6')$(*"8@
M0DO#2[A]T!^=THDL!3\DZC@%ZD=[[8,^VOL1'R'8TY[J3;U&U[6-`$KM?)"7
M:$G(FG*-8=9B^*%EE;;<#/'98Q&)<%20*V$$Q[1-G2;63P*I<LTFKDKMZ]P2
M>%/JV8UHDUCV]!0T';GD*2UTG:$OO*QO:[9O-F[>/I-4R<36S5AO205E4H]@
MN\:M2SH3\4Y`$Q<.%0,G[7`EX[1"*MK%B'+-)HY^98N\<J4_FVYYK91=IVUY
MP7^WTRDZ[AZE?7VJX[8VXJ=KNW[&8%CD)FGU.;<.6;^0@YJ9;.H6O/#N692@
M[?)J`'>(E$,@M."AV5N*Z775_C_#>3VS7E</Y-7O4[?R#K3B`8VB]51KJ5M:
MD&(/&L&[J\[*5BQ,E6PR:"(H*"53N*!E"F$#Z)>$=TN5ZTPZ=7ZUR-RL%,V9
MLNDK6F1222DYN-I5UG(".6E2-&K-NO)%CF28.#IHD*HJ41`.N`?,AEJI=WN7
M]B6OD+<*S/SGGOMTAW$4I5SVNEHN]16!^R3K!W$0[=UR1M(O4B)JNRJ-G":?
MPE$Y`,7N&LOZ-\5B'F<6#6&6>VA5=T5C6QX+\N%1Q6>+RIA7K*"S;]\@8]A7
M-62NW+0RA:];?)B"6VHXV+KW3<W;'&IKO`-*NUFMDW*N/JNQ>P52F'*DFQ,U
M*=^9`IB\&Z!R^<:US<_2IM_Y?A6G<<KD/+5%?^13_F\#%+KY"^0,9'ZIM=YW
M>]=DCM),;/+0.G=OTV!MCF1:W2>?1&S$*]:*RPA-YQ%\JS2'C7D='>V9K(&7
M%HF9)4PX7.=;&M-*L?\`)EVA\@Y8WCJ,?^+P,BF?(;?LSO&WVF-V[&U!&M[L
MK%9I%"M.W4:J\<:W?HPKMM'3GC2%*>6>T2=TA9!4QGZ#D3I.R"X25;(M5DCG
MSG6N+CZ7Z7_EKVU+XVH:6*L69<5N.3W[=M&?H38B!B\AR`"FD<I>Y4P`54A5
M.IEOC$W>8>.>H%XYXRJ&HO7F_-MN'9CV,ZDV\V5^6'(P!@#`&`,`EJ@)DS``
M<B(=`_A#`+:0IE!,!`[A(/:;CZ!XYX'^#`,?^90&\,4`4#W?V9>%`G!N1%"0
M;@L'/;V_`*A?IZ\],`S;`)2P'$@]G/=R'H/`^O7KTP"WH@<'RON=W/R1..X>
M1X]Y3\(_3@'L3_@6GZ)_ZPX!=,`8`P!@#`&`,`8`P"E=?F%_2_(.`4.`:CWW
M5IJ\:6VE3*ZDW<3=JHEFK\.U<+BU(XEY6+<,XTAG7<4C8I'"O=[AOA*8I>>G
M.`<).-$;PO\`HSRDBK/1(VI7[;^D]:4:`BI*VP]@<MIRL4QS5GYW\PW(I&LB
MEDFJ;U!8X'31%?N'D2F#`->37B%MI6^R=.5H\O=-?6G;59V6%\DM]3T-381F
M@I'RK^"L^L8V026L-BI5DB@+&O4BBW>(G`I@*/<&`=Y>4>O+!M32[VB59HVE
MY1W;M:/CDE&J*[8$(38->FY-R^827N(.4$6<*9;VS]P#S]0!D.[Y*\Y?RXEM
MAI7HMY5.'MS^'NUIK>>X[%7*PCL6F[]DJJ]>2*>];IJ]IKQ:#C&$))DLU2B%
M7;>\1$BWAV[E$&::*[=852?F*`(5+GCC],/VK!9'KQDHPCQ5CAE^A!'>+/D'
M5]WN9BH1L!0*2ALXMRG[A7]EV69K]LHHQ95'L7(:$MRLLS;;"EA`S9W-(/60
MJID$Y0`P]HS^=ED_T)\R+2:JZ^V>1A&GM$[N\C=(:BJ=I94NBZEI=$V@C5K1
M5IERM,7*2N\=:JQ"L)JGO(IF%4:1D9->\Z**S@5W!4C$,!2CSRN>4;EM9AUT
M4IK.O\%^ALVV^-?E)M^I6V*V!6=+5.6AM$J:4H*%5L#V4"SKJ3$+*J3-A<.X
ME@:`B"I0A%"QK45R"+DQ#&X*!LZAS1WY.S][Z-W@C/IVHWXRD\$_T,Y\@?%S
M9^QYFQ2]59ZXGFDCK[3L.%=N+Z>C(YW:=?7!Z_ER1$S#'-,54I8]/M9/$BJJ
M)''X1`.0RZC/5MS48X[V_=FO?CVFK(/P^\DG\;3G$_9H>+&KVC<$_$U9Y=[#
M?CTUA=M9NJI7ZPC9YZ$).6<1E71'*[E<W>DV2,B`CW#BC.E<A6E<:?J9(V\6
M?)+8#([S;2VJ8V6HOC_)Z3U<TUO(39VE@>6(U:"PV"T?>+-DI%(JQL`1(C!,
MWLE7`R@#\60>;K:>8J5R>?7WK<02'A1LMV\,9M8J>FJ78GD+;C"ZDY99NT8[
M2UJA3X)064<F+HQX^61!51,HB`(@/KP&9M6JV'[OB5:9J-Y-]/P,(_RYO$MM
M[Q!U;9!JZ-ZI=0A'GDC#UQA.3U.F=::K6:SFM7(STJS;I,[$K>VS5^W9D$ZA
MTRJ%/\(!GCGKU>+6>SKR^.T^FF_]7J[FTM?=8-I88!Y:H)-I'2I3&*DRDF+M
MG)QIG')%#G9?/,4P5+QR9/D.F?013X5U(\)YOK.&+KX<>0N[H>]6G;MSU0CM
M&3U]6=849"AQMG_9&O03'9=3O]HLDPM)._G)&RS+JM)"1%,"MT03[2<`8<D@
M^A6R*.IL#5]XURM)E;_MA2;#4AEEVP+?(??<&ZBC/>P%"'.DFLL"@D`>>`XS
M-J\;+72B_3RX;JE2K.$J+XD[E2K%J0O-OU^>W6+P[C_%<YZDVFRQB#J"3F&$
M+<557HI.R,E(Z13.Y23/[@*E,!`XSR54]*4H1I@TJUQ]]>FN/4:1=?NNIM"6
M7"(E=(R$+=*U08O85AV)KJ>OFP(67JM#A=>S\AKUZ\F2QKIC;HB%]P/O5,YF
MBJP_";M)PX>E#SXUI1U]W9B\T?4;9FG:GM+4%MTM86WLU>U5@U7449IHI*LV
MR+9).*>M$$2H()*QKANFJFF`%+R0`^G/6TG^C[V>7>?%<KT'+M9\9_(.?L&N
MV.Y_(&#LVNM5`X,PA]>U:7IMIV"X)`+5F+4V5,+V.03=(L8N0<]Z+8GM+K*%
M.8P"0.>=9_I*N7$O@RM*IKM#P;V2_@*GK:X;EKDWJ[4"%M7U#$-Z2XA;(C8)
M:$LM>JKNU6+YPZ+Q&ELK,J*:;5/_`(KL*"O3KGFTZ430Z$KWC?+P,[JN6?7A
M1TOKGQVEM(*M&46Y*27?RRE>+^U!5!.<R3=L,.!12'KPJ/(AP&*4V@Y'@O%G
M=T?L^U:SJ^QGM4I+3Q\U1JRRV^2H[25B[=&M7EH&</61=.D4(^UMFDK[0*CW
MI@3CN`0#C.-K/4L24;$6\\?U(I[]V.N_DI%*K;1JD34E)6N2E??R>KX2U;+8
M-*L>MJ1=4+L.;=2*K>K).(`XG29MVRQ_F3%,IV%*49X>G`[\]+!IUV^SH=6+
M>+Z[V+B4I:ZJ2TG$^1*WD3#OD8=9%LE(+K/5#5I04G1A"/3*^-[2G`G+VE*`
M=N=VU_4C_F7Q.)W$XR65(M4;7P->^&VKY%CLKR4W9,TNUTAKL;8;EI0:S=H]
M!J^BZDW6*\LCIDU1,";5G;[<D9^4A@Y(':(!QUSW#R2`/`Y)_P"041NV>VE]
M^M*S?G]_@XU.@5B+OZ#QVGW(5>:V?&*LYR?I4>Z,98K1TBL)@-V";M#`.H]Q
MZH+M=?4ZII9>(#6>T(+8A009E>?>1X>-EHXL>OW')\NW5)*&,8Y>3`)0`.G.
M8=;E'K9*-4R?C`VFVS5%[>;"B+7R(=;Y3%E'@5J4SUN^CG5.!%850%JLW?F,
M"PE-\0!\/'.>?L)-%4W]WPO59B*=*[>=+U^JO[XA6ZTSUM1:P5]$7.O6*`.K
M;9^'B4[/:I>.):5E4';EWR!T@#M[5#XR!GL[X%U&P4G6U1D+[;FC366BY_1\
M6_B0:%>R$=..JP^3LK]%5%9!Q)Q[RK(F!L9,[=<JBA3AQQDBAJ"_>'5EI4)9
MKW&V*[;>V.O!4R(;PU(@]?ZO3KJ-5V$SN,7>=;Q@1[2M,[Q`/BF<J-#JD)+&
MY*H(?3'Q!-T[XIWC9)=HWK;$SL6HW&T[4I>QM;6.V*TV1OT!(T2I/:<UE):J
M124C4H*,=H/G22D("BZ!@-\1A$`'+].OZ\6]Y#.IZEXLL*[-:YM%CV%;+I;*
M#:KO<%)N1)&QZ-AE+U`.J_(I&A8I!O&U^/9MW!3H(-"]O<F'/01SUR"5_P"D
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MKB781RLI#&<F?$8SL7+Q<S%3"2+_`+5$Q62%1+MX(8O/.`80X\*=;H4F`JD#
M:-@5B=@KL?90[*AYIF.P9B^.S*#+66;FY"->_/.Y(BRB8I]A$443^VF0I2@&
M>=JXIW4ZM.GZLU6+SMP<:)Q;VEYU=X@:WU388"R5Z=OLE)UZ>V'9D5K/8S39
MW\SL]>)7MCV445;)*/%G*D0F*0B(>T)AX#TSG212O5Z&=7[\KEOA:254;GV;
MJFM;7K;>K6A21)&MK%7;.F,8Y^2<_>=8FF\W&&%P4AE/;*Y;@!B\]2_ASTS&
M:0V-X?:]V#<9BXNK?M6KHVK[F+=ZG1;T_J=5N?[/J(J1)YEE%I)O$UB`@4CA
M1NNBHZ2Y(H(@.>&^'IJ=M4+,[\+]4N[4E9G$C>';!K<4=BL]>O+4^=:W9WMF
MQ*P8SD=`/P?.X=)-NF`':MG:;8YA$XDY$<PW]-S2[<X]&VK%*9[?;^)"IMJ:
M=\9_`:H:_I-)':BEFM=IJ\1LVNL*Y(WIY9==56.OT_**R2=7@SI)-&"[F">`
M@D8WNG;I&.4H@(CBQIN:69UUS;MTW[=G=484Z38<+^[_`-`Q<=:8^04V-<%;
M1KV:U,E*W>_2]DE*CK:PD22EZC1EG0%0K4<\1;))G%),RIDTP*)N.0S9@09_
ML'PRTILTKG]J&=F(X/1ZA0XV1K]KFZW+U^.H,ZXL%/EH&5B';9ZPL<$^<<)/
M.\QC)AV'`Q3&*;JB.J%FA/!O2$$@W.8MLL,VG:K3>96VVZT2,]:[1;+;0E=;
MRDQ:IM0[=U,J!5%1122,)44CE*8A"]H`%D;7,9+_`,:;5K8NG^(X53;4Q^I>
M`V@:I69RI'-L:VQ4SKMSJ-!2[['M%DDZUK-Z@V3=TVH23E\1S7HMPLT35,9(
M15$Q>T3]GPY$[7,+>.LE6V\L=IS3>9M&>(.C84K<6T'-KD96BUW-))_99A^E
M]_W.J(T^PNE"+N1,J1Y"H=$Q-VD6,90/BRK`&D%_"Y4^T_&Z(9M(0^@/&R5E
M[[2W5IFYVV[0<7.0CWT>PARRLPX7!G6X4KM%1NF`CVE9(EZ\9.%<,$30[\MM
M3BKI4+!3IT%EX2R0\I"2Z2*IT%UXR59N&+U!-PF(*(G.U<&*!RCW`/7USU]/
M_HQZB'F<EF\$/'4UQCKI^STZFYCV]<3-7&]LLC6D2CRIILD8&<G:>WE$X:7L
M#)%B4OS:I.\Q1X$.G6X@W_LO555VY1;)KN\!(O:W:6YV\F6-?N8:23Y=E=HK
MQLHQ4([CG3,2`5%1,P&3X`P"`X!I-+P6\<E[Y'[%4JLPI/1P0:Z[)2X6H]7L
M$U7FK9E#VBUU49?[CL=H:MV"("]<(F64.F!S")A'`.F+Q0*GL:IS]'ND*RL%
M6M#%>.G8=^0QVS]HY-WJ$.*:B:R1RG^(AR&*=,X`8H@(!GCWN4VKUV5QK&3J
M=5PH<VUKP=\<*<Q;L6=*=2IBVBM7!S(V&SV>=E9:8I*QU:>G./I&8<&EHBO%
M.4J#)4!;_``F*(\\ZM%HH:)24/YFNZOB0S76SO!'5^P-I5&Q+0#=M0E7VS)[
M8<(A.V2'DI*X7.#BXZ.GZH^B)%HM!KKF1<"^!N=('`G'N`?IW$'2U3\>]2U!
M_2I2JU"-A'>MZK*4FE"V^;53AZW-N8UY*,S$<NUC/W+U>+(*CA8QE3B81$1'
MK@&NHKP<\9(:W2-W9ZN@C3LFULC%9)VK+O:\U:W0JR5S1B:HZE%:[$$M*"PD
M>?+MT_=`3?SS9X]SD]FY<E<:QE)OM=3U(<YU-NVK494C%4PSP5%V%J@_`7Q3
MK4':ZS&ZIBS0MSCF</-HR$C.S#T(2+F&D]#043+2TH]D(&%@Y1D15DV8G;IM
MC?F<"`#G'HK>D^B"HI8G,^8WM0U.;3E'VR-RZBT5K+14`K7-85U.OL7K]66F
MG2SM_,S5BEU2"F:6GIZ9=OYB5D`(/:4ZRYP(G\!0*7@`*-,BN5YSPDE3X=!@
M-T\-O&K8=ZDMD775%<L=MF`9FE7DH1VY8/W4>@J@QDW4(9U]S+S#,AR^R[40
M.X2%(G:<.T.#C%X[25J+D4HK)>WR,Y<^/>GC1SZ-/180T9(;"C]K/&0)+IE7
MV''':J-;0=5-P107Y%&:1AZ]HB3J&>U']JZC"W5U,VM]1JU_KTK4KM`1EIJT
MZT%C,UV::(/HF1;&4*J*;ALLF83<*$*(?%T$H"'7KDD'+]N\)](3-'IFN:[4
MZW4*75]H0^R)&O-X5%Y&6M6/&5(M%3QWBB[UR1TWECI^^=4RI2E`"B0,`W/#
M^.6DH.NUFJ0>M*G%UREKS"M3BD8Q,S.%_:%BX83*T<F!RF2<OV+U5$5C"94"
M#QSP```%T'1.K#LV$>K3H15E%U.0HD:W.R*8D?4)5-@1_!,0,8P-&3HT:D8X
M$`.1+@%`_P#'734M>8O9DKKJF/\`8$&V380]N7K$.K-,(]!V+ELT3<+M5R&%
MN0"IIKB47*10_5J$YP"XMM3ZZ9)MTV5+JS(K6V.KTB#:$;$[;>[,<ZMD'N.?
MNFU3J&,JY']8L8>3#@&56>D56_03^NW*`A[/7I=(J$K!ST>WE(M\5)45D3*M
M')3)@HBL83%,`<E$>GI@%EA=.:OKJ-8;0-`IL*UI:[QY4VD16(6/:UQ^_0,U
M=2,,B@S`&#]PT,*:BI!`ZA?SA'`,L@:M`5=DI'5V)CX1BN^>R;AK&,FK)NXD
M9)11>0?*H-TDT3.GSM4RRQ^WE10PF-R(C@&()Z;UFC9W-T0I%40MKQ^VE'5E
M0KT6C..91@Q<1L;*.9-)N1TO)QS%XLDDN8PG*13CZ`P"&=TOJ^TQSJ(L]!I5
M@BG<RZL*T;+U*`D69YU^NFXD)HZ3Q@N)IB2402^9<\@HO[8=PX!.D-/:PF`A
M/OC7])E?V7;HLZN60JD&_)6V;8Q3-4(--^S=%C/E1*'MBCV`7@.`Z8!4.]64
M1_:F%X?52K/+E%E1286UU6():SLVI"*D4:MIPS'YY!)4%CA\!@$A%%"E$`4-
M@&P@#@/PCZB`<<CP`>GV!@'N`,`8`P!@#`(%#=A#&XYX^C^'`+<BI[(JB`<^
MZ8#CR/H(!QP'3\&`6$Z:9KO'*]H%.2M/S<@'4WS+]J)@$?\`J^ST^W`,RP!@
M%!_YBI_R"?\`OUL`E1/^!:?HG_K#@%TP!@#`&`,`8`P!@#`(#F(4`%3CCGIR
M'/7^`!P"5[K?_J_T!_V<`LL_-0T#%/IR7?-8R)AV3R2E))T/LMH^-:(BL]>.
M5!+RFU01((J&]`#UP#6.LMX:PW`V<N]:6)Q9&K1DSD%7"5<M$4B+&2<NFK-P
M@I-0T:5TFY59*&#VA./M@"@AV&*80-H"=NF!DQ`A"IE$XE!/@H)$'W#+EX+V
MF;E.?D3AR7O$>O/.`3#+)\B8Y^H<B)C`;D``J(\CR7D/@=$_@-]N0TFJ/%`D
M^ZU^#H7@A3."#[!^U(B1E$CK\^WPB"8IB`B/'`?@'./)L_9'L7@=^9/[GVLQ
MVO7.M6K[_"#=.71:Q87M7F!7AI=@5&=C11%TT:_>#!L$FFG\R02N&WNMU.[D
MB@X\JU]D>Q>!'')YM]I1+[%J45?8#59G!$+=8JY*VB+B0CWB:98"!58-Y%R*
MA6@,&_RYY%$/9,H14>[X2#P/#R;/V1[$0VWBW5F9`HW[Q`O:/<8I^]-`_88Z
MJAVP&[B)B4IQ,@)3<CR4`Z\!QDQM6HNL8Q36Y(59A=/V'0+]"/[#3Y^+FH)C
M,RU9DI)!-5!HWEH5\9A+,')W;=OP#9^82"80]LYC<E$W/.=U9/'/*K[0ML"H
MH71AKA1ZB2V/:\K9X^*(R=G]RO-9-.,%\D\3:FCDR_>9B)E2%4JHF$!`HAUS
MT8V(^7YE:X?H>/<OW^-QXI8M[69,A-1JA#K$?)=G8BHJJ8QB$(554Z"9553`
M4A5`6*)1((]Q3=!`,S:B#A))JF!LTDY3@^)MT>W$F#)19U6Z0O&8KKJK`U(9
M5+W%E67:5;Y8##RHHW!3KV\F`.?H`<H5M7?Z;R?Z'>IE*-EN#:EAT;265]#?
M,%(FY9&=N$4G`$2.@9THW2`QTES$((K^RB4PF*80X*`\AQSEJY8J?M:H]JIB
M>8[^I^^7_,RU/;?68YK(/7,NT%*,CG\L^32>(G62C8XCP[UVHF*HF3:)`Q5`
MRIN"<D$.<K7)5*7#YDUBLY.BK3IZ<C5^<E%<+LY+<MA8:9MO7%^J5,NU=M42
MK7+VW:/J8YD'J#!2:!X4?E2139^=!RY<G+U!,A15`!Z@`"&3<TGHINQQ<>VM
M6\^EFK3ZOUEOS>'@QI2E,MO>0[*VG4]71-7F;4N\29VV\5>A0JS1B=Z(6*VO
M56$.9V456Y&;'YE,0575.1-(!Y,/&5M)X-51<FUD9*I=JF2")9G5IKR5<]CY
MLEB6E63:%40(H9('17RRI&9.52&*``<W4H\".<^7#[5V(FKWLA>W.FQT6RF9
M*UUJ.AY)4A(^4D)R+91S]9951%$K-XZ=)-G*KA5(P)@0QC'[1[>>,>7;^V/8
MB>*6=74D/K]1XU_%14G;JY&R4\8"0<?(S#!D[F>6R;OF*;NETE9!/V5B_$D!
MRB8W:`]W3.DDL%@CFM<S6F[/(+6ND8`):UOFC]\:<I]?&K1SV)-;!1N%IBZP
MW>HPCUPF^.Q;.9$BJO:GW&1*(DY'C#2E^Y)@VC9;95Z)!O['>+!`U6$ATDUI
M.9F7S:,B6""ZORK$IGCLR12@X'M32`?C4/R4`$>F1P0^U=B!:'VU=91D&PL\
MA?Z>RK<F4`C)]Q/QJ4._*)D4U"LY$S@&RX(F7("H%,/M<_'VY'EV_MCV(&7Q
MLI%3$2UFHF0CY*#<($?,95FZ;N(MPU$HF2>LWA#BV4;F3`1*H0W;V]0'C)X(
M?:NQ$U:R;,#AMRZBL,9.S-?V719R'JC@S6RR<19(J08UUV"Q4?EI=PU<*)QS
MDZQ^"D4[3'ZB'/`XX(?;'L1/%+>RX6#9NMJ>G*!9[Q4ZTC7X]C+3!IB981K>
M(BGZBJ4;)O3N%4TFC!ZJW,5!4P@10P`!1$1#'!!;%V$<4LZNH;[4UP^H_P#F
M:WO-;7UX,8>:+=_O5N%94B4B=ZLBE+J&*T6:HE#XC%,/:(<>H<9T08_6=^Z5
MN<7"351VE2K)$6.=;UB#D82=:R+22L+QH^?-H9NHU,IP_69QRR@)F`H]I/PE
MY`6/?FEJC##.6;9M)AX-2Q*5`)22L#%HQ"V(+*-QKXKK*D34DTW).Q1N')R@
M(&,`$Y'(<8R_<DP<J?\`KYUXQU>XW)/0'[-5%G#VN<>+GMM76?*A5;Z37Q&$
M4W,83+)R;A8LBDN4_P`J#<.TRG</;G/EV_MCV('=59G(VS0D;9X5<CF+L;)K
M+L7*"P+)':O$"+(I@IW"('3`X]Q0^`HC\./+M_:NQ"IEZ92F3+R4H\E#GD`'
MG[>?7'EV_M78@>@BB4``J210`1$`!,H``CZB``'01QY=O[5V('H))!QPFF'`
M\AP0H<#W";D.GKW&$?M')4()U25>H$783^:7^B'\F=`=A/YI?Z(?R8`["?S2
M_P!$/Y,`=A/YI?Z(?R8!Z``'H`!]@<8![@'G`#Z@`_P9#C%YI,FK'`!Z``?P
M848K%)5%6>Y)!X)0'U`!^T`SCR[?VKL!YV$_F%_HA_)G<?I5(X+H!Y[28"(@
MF0!$>1'L+R(B`!R(\=1X`/Q8E]:X9XKIQ![V$_FE_HA_)G'E6_MCV('O`?4&
M."&Y=@JQVE'U`!_@#.U]*I'!$U9"":8>A"!]A2_R8E]:I/%=.(JWF>]A/YA?
MZ(?R9QY5O[8]B(':7GGM+SQQSP'/`>@<_4&/+A]J[`>@4`#@```Z]```#J/(
M]/3J(YTDDJ+(%(Z*``3@`#J/H`!]62"D`!,(`'41'@`__'@%<W3.3O[PXY[>
M.H#Z=W/H(_7@%1P'U!@5`E*/J4!^T`'`':4`[0*`!U'C@..H\CT].H]<```!
MZ``?8'&`.`^H,$46X<!]0?B#(<5+-)DK#(=I?J#\09'!#<NPFK':7Z@_$&."
M&Y=@JP(`/00`0^H<Z(/.PG\TO]$/Y,`]`I0]"E#[`#`/>..@=`P!@#`+:@8A
M3B)^..T0ZASUY#Z``?HP"X$$IB\DX[?P!Q]O3@,`BP!@#`&`,`8`P!@#`&`,
M`8`P"4O_`&1_L_*&`4J!TBE$%..>>G)1'IQ^`!P"Q"4QK>S6`.4OV>72[N0_
M/%\4X%[1^+\POU<8!EF`,`H/_,5/^03_`-^M@$J)_P`"T_1/_6'`+I@#`&`,
M`8`P!@#`&`2U$P4``$1#@>>F`6]0@$.8H"(@''4?P@`_EP#0GD_%,9SQWW=$
MR2L@FS>:HOWNA$+O6LJH*%>=N$R,5HX/G3'%1(O<BF('6#X0Y^@#Y;H&L3"$
MU[KN%N6TXRONH_P,3%U'SES>BO%WA*;C[G`E>/S/U8H'$>("X[C$.W*`<]HD
MZ`4>VYP-6I3>LI>3NB^M*YY,R+&*4M.T[_4Z)!5U+4-8O#>)MM^KT'/728BG
M<[,JEC631)1)V8%4SF*8A39*NZ.UCK)2BGE2F._,&+>/K*8W.EI.C7^S;9>U
M5)KYL,4R5J1VM6(=..JUMIJ]`:2+VQ%87=9&.B5!/$*/U4G3SCIR3@N2]3RJ
M=8V+DG==.%.F+VIY>X8%AJ5HB96L:WG_`"BNF_(Z1<:,IRGC[(4.:OJL]-79
M&TV]"=<U;]G6C).0VHJ@6-1)'S:2@%;"H(+%`5!'D%]V+>G,?!O8JZLK\,6Z
MWYMI!I+;=D]L5.GQ:<92*-)Q\38V.JT7%WGY6P,U%08MV2J<:21*H0`'@O':
MU/*(_3>N35Q*C2I@]N:R/1MZ.W."FY2JTGL-Q>$<C9K#L#QV?S#&T*MZUJ3R
M&KA7]@C[<Q=-HLNS:^WK*#T;RLYLD<W6AB@9D645._<D`3&Z%XR)7=%=_P#P
MYRFEG6F&[(SZFQ&RXJ+;K7,P3;SE_&>:Q)'V;EL&PRFQ=?QC*EN6^ZZ+>JS4
MYA-)A+RNM[55WJ^IK7KB)26.Z<MI@J#E,I3_`!@;L(:%*U#ZK[X;2S>[V9F-
M"H1>O:_7&M`D=?)QEF0\@][OK,2]P_D#,T9&;4>/"UQ<D!KUXQ-.V";8=BT6
MX76^5*8PB8W/'':U7)-MZ=/^'P#)]3KMO:U;3UF2J%Y+O&4\8-\46O/K9'[3
M:R(R,?>/FF-67;/U'`PZTE1Q<$;@Z<@J)1*4IQ5$##GESJY%\%N$';3P;K5I
M9/KH>S#^V^67;<;LK]Q2DDVEPX557LRJ14NCSDAKOR"9:_;2*M#F-=U2`?T>
MNZ4VOK:"5N+F\0)9!4LS=;E8UY2W,61EV[@\6@T(JF0%Q,'<.=1UD]9]<TDX
MX85Z]IAU?+]/RZ<;>GG*<9*KK3!UIL2V8G2-Q\7*M44O).1I6K+.T=ZUL&H9
M;2"4>_N;US$RQ6M;?VZQZ^05F'A$7"#J3-\^)2+$6`AP,0P"(8GS"_RN/KM/
M"-R[#!1E6CXOI=:8X)U.--I+.NO+37Y.%J5<52N"JL\,6J&K4]>[,G/(U,]H
M:VE'<S7>\A,FEHK2UHGCO=:#(HMH=ZWV^XLT16$J(-.00+[:C,5!7*J4$O<Y
M,-,?[[YQ!*$='IE%9)*=/_J/1?\`;/*:<7J+M-K?!AT9&1T3QN2C8/7%K;Z>
MOZE[L?DIY"5;8CY)Y;PE9;6E@:;'8-)&XE6Y)(58RZZ(-6QBE03[P%(.[KE?
MI[US^H[]U.6.S"N-,LEL,?J+,'PJQ::6&W9A7/-[=FXYPE]7/6VIM$GKNDMF
M.KA3=:MZ2>B3VB;5-:TL-T@;6<'4-%S\&\9W#3%N<M_:10M*":C0[8Q"J`8R
M1LOM6Y6X\,IRFZYNE>K`S79QN3XHPC!;ED?5[S2A[);O%[67WSJ>S6AY'[+T
M/8+YJNH@\LD^WC8^RQKVQQ*:$:<CBR-6"1_UZ0'3]]NF?O.!A#(OW':M\:2;
MJ5G`ECUO:QK%JF*[X\6F+\:K9OJ&G=<4JP:XGM@S^N*\2A*14Y:6'CBU<0Q&
ML'=;XDV:MF+URNW8I%,]53*0QA'(];/9%=_B2EB:W8Z5V473U*86O4.U6:U8
MVYY)&J3%32M1V306E=M4]`2%2J%QT4,Z]+3(:;9+",>^8+'&)*FH)%"^Z//D
M?FN8T_T(?_+Q/IOPW+G*BORR6[IQRQZNO$S*[^.6Y95\X:;!TQ<73RRZIU57
M]>Q6M=9TG8<%34ZS'_=R](:VR]NG<MJ1]$3:24J#TBZZ7M")!_-``WZ?F.IN
M6^*[",9URQ\3Q-;8L6-0[6GDYVZ+%[]N6XRS:GC??GK*ZU.;\<;3L/:TOO+2
MFP:=O$T?$W%%I2J;_ERUE6T]<W#J/?1,U$`TDQ78HIJ-'*AA7)Q[09NL:F5Z
M?"TDJ&,^B7EU0Y.PO-(6MC0)+;-%UO?U+#?M9QS8LX]F8LT,LUA9H*Z\?M&E
MJ3J4JJ=9&-6$Y55#B8`X`!#6#FS6_BS+2NR:O-7/3C.(U2^VIOB[T^B6"&B'
M,=K*H6*E1<97DYZ`!=1G'R5MGA763C2^[\F8`^(!*("!OK7>EMGD\$9K3!D5
M86[NZKLFNP<9*R9$?:8/+-(FKT2Z?%.!8U%]!$*BF`"4K9%8`Z`7H!RO8-#W
MS8E:N+K6GCNYT8WB?'4-6/*U<24^L$V/:X^8A7T*X:#%3#A-6'J"44Y3)(OR
M"X=G>)_0/=@&77;5.U=Z2=\G;+XZRT'6)Z"\9(J,96R4K!)AZ>EWU.;NB\A'
M-9=X9..@VR8%3;*"?YA`ON%*`G`H`=3>8.O[9+:.0I^IZ!%3*K&X49TXA(6M
MU>3?UN#92!5I&;I%6LBC&I.9RNH&!1HFY$$R&$3]IS],`X+HNCO(VKO+->GV
MJ;S92LO(_46SH>$G9C3\-=+;3:S4[/!24X8-?IQ58A;`$C*(F=(\*+*)E(4P
MB/=F&[JIV[CAPII/I)H9Y4-';N@)JK;;M.B$KB\CMO>0UED-+GM%(?R,839E
MBB5:K?XE61<GKSJ;81$>HU<D,8OLM7!C`4RG:);=/?E><E))4!A`^)^_7^@U
MZ8\U9!1<Q_DMO*)1IT=8(*5CXB>M&WRW6H5V+D#]C`Y_N1(2%4`Q2E6Z`8`#
M-)!]<-73DW)0D;'2^OY2A)QT%6"-6DDZA%S*J.(-H:19)DAGCLJ2T&^3.V6]
MP"]R@?#SP/`&XRE[2@4/0`XP"+`&`,`8`P!@#`&`,`8`P!@#`&`,`E+*"F4#
M``#R8`Z_8(_DP"G*Y,(@':7J(!]/TC]N`5N`,`8`P"D=^A/M'^(,`(HE$"*<
MCSZ\=..@X!5X`P!@#`&`,`8`P!@#`&`,`8`P!@%GP"XM_P"R#[3?QX!/P!@#
M`&`,`8`P!@#`&`,`8`P"4O\`V1_L_*&`6S`+0JY!"R1R((.#BK%/P]\"A\ND
M#91L8H*&XY`RGOB'V@&`92BH*A1$0`.!XZ?9@$[`*#_S%3_D$_\`?K8!*B?\
M"T_1/_6'`+I@#`&`,`8`P!@#`&`,`\$I1ZB4HC]8@`X!`9)(Y1(=),Y3`("4
MQ"F*("`@("`@("`@(A@$HK)F3CM:-2]OL=O:@D''RH"#;C@@<?+@/"?\SZ.,
M`I74<U5(5/Y%HJGW=YDSH-Q)WE2(@0XD.02B8J)`(`\<@0`#TRF]I--JZ+45
MI'+WYDHFE:D*F(`@D4QOB-P4@<G^$>X>.`$W)"]?P!]64PY=H[,U.VL8O`ZJ
MJ4J&S-)+M_X=`GLAVM^Q-,`1*//>5$"E`$BFZ<@7CG-AP0K-2J^X0[5%5-0?
MB*H5(Q3AR40[BF`0-U('K]0?5F67+M%<F[DU]<G5YFB,XJ*3DZ^\G)-R`!P.
M@D7N,)Q#M3$#&,8#G,/`=3&.4!$1ZB(<Y;:TUC3U\G^;,KN.+I1U)ID4C"!Q
M23%0I3E*<2%[RE4$#*%*;CDH'$`$?K$.N=7+4+T':N?L>9PL&4RJ)Q,!DT@[
MA+VF-R4#"'/(`(CU$,RKE.@EC.M?>=-I[2:"8\`(IE[@#GGX>0'@.1Y^OH'7
M\&5/2W(ND/V++++81YD\MA-(0`ZB4`,'/`\!SP/'/7UZ\9JT]N=N+4\VR')R
MS/3)D-VB)"&$GY@B4!$O4!'M$0Y+U*'I]67RBI*DLB*M8QS)7RR(!V@W2[>2
M&[>PG;W)@`)CQQQR0"@!1^@`Z97Y%JE*8#S+M:[>LF^VGU_5DY$.!^$O4.X3
M\#TZ_&81^T><M!$)2B`E$H"`]1`0`0'KSU#T]>N`0F(`]>T.>?7@.?3CU^SI
M]F4WX2G;X89U)69)%LD;CN12-P4Q0Y3(/!3D!,Y0Y#H4R90*(?2`<>F8EI[Z
M=:8]:.JHC*D0@%`B1"@0`*4"E*4"@!0*`%`..T`*'`<?1TS=Y%HX\R[EL(3(
M)F+VBDF).TQ>T2$$O:<.#E[1#CM.'00]!S+=T\^/^DOH]QTI.6,_W$94BAT[
M"=H%[`#M+P!>..T`XX`O`\<9UI[-RW-N:PH&UL(^PGP_`7X..SX0^'@.`[>G
MP\!TZ9M.2$44A#M%),0X`.!(40X*;O*''''!3]0^H>N`!22$HE%-,2F$1,42
M%[1$W(F$0XX$1$1YP#SV$/C_`%*7ZSN$_P"K)\8G`H'$_3XNX"%`>?7@/JP"
M8!2@`@!2@`B(B````(B/(B/UB(X!+4005#M5125`3`;A1,AP[@]#<&`0[@^O
M`//;`O/:0I0$>X0```!-T^(0#Z>GKGGW;%V5QRBL'U'2:H>E2('(=A``3=X_
M"7J?GGO'IU-S]/KENFM3MM\:I6@;3R/122,(B9),PF$!,(D*(F$H<%$1$.HE
M#T^K-9R`12*/)4DRCUZ@0H#\1C'-U`/]8YA$?K$1'`)F`,`8`P!@#`&`,`8`
MP!@#`&`,`8`P"2N0RA``O40,`^O'3@0_+@%)\NK]0?T@P"H1(H4PB<1XXX#X
MN>O.`5.`,`8!2._0GVC_`!!@$"2:O)#<CV<@/YWT<_5S@%=@#`&`,`8`P!@#
M`&`,`8`P!@#`&`6HA#*#P7J(!SZ\=.@?EP"X(E$B8%-T$!'\/J.`3<`8`P!@
M#`&`,`8`P!@#`&`,`E+_`-D?[/RA@%*@=(I1!3CGGIR41Z<?@`<`LBY^+-&<
MF'VQC9@1#KVB'OQ_:(E^G@!^KI@&3D,0P#V<<`/7@!#K_"`8!'@%!_YBI_R"
M?^_6P"5$_P"!:?HG_K#@%TP!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`
M&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8
M`P!@#`&`,`8`P!@$)Q[2F,'J!1$.?P`(X!;E%3*<`8"AQSZ`/T_:(X!-16-R
M1/@O;SQSP//4?MXP"NP!@#`&`,`8`P!@#`&`,`8`P!@#`+4FH*8B8H`(B''7
MGZP'Z!#ZL`N*1Q4(!AX`1$?3TZ#^$1P"9@#`&`,`8`P!@#`&`,`8`P!@$I?^
MR/\`9^4,`I442J%$3"8.!XZ"'U?A`<`L3DH#9H@G7@[":3'Z^"*1Y@$/P\A@
M&4)IE3`0*(CR//7C\@!@$S`*#_S%3_D$_P#?K8!+BO\`#\?0`]`_'@%SP!@#
M`&`,`8`P!@#`(#G*F`"8>`$>/3G`)?S"7UC_`$1P#T%TA'@!$3>H%`HB8>/7
M@..1X^G`!'"1SB0ANXQ2]W`%-P)>>.2B(<&Z].F`>F6(7CN[@Y].2CUXP"'Y
MA+ZQ_HC@$PBA%.>T1'CCGIQZ\\?Q8!'@$!U")@)CCVE`.IA].H\`'UB(C@$(
M+$$O?\0!^$H@(EYX`X`/7M'Z\`](J0_(E'T^OI_'@$!7*)P.)#@<$S"4_;R/
M:8#=H@/V&Z8!X9TB4!,<_80.`[S=`$QAZ%+])C?@`/3`/472"Y"'24*8BIC%
M3-U#W!(`B?L`P`(@7M'\6`3\`8`P!@$HZQ"#P81YXYX`!'_V'`)2;Q%7N%/O
M,!1$H_`/J!.XP%_G=H@)1XYX.40]0P#TKQ`Y`4*?DA@[BG`H]IB\<]Q?K#`)
MY3D/^:8#?"4W0?\`5.')3?88`Z8!%@$CYA+ZQ_HC@#YA+ZQ_HC@#YA+ZQ_HC
M@'AETS@)"B/<8!*7H(=3!P'7Z.HX!*1,"8F$Y@X$>WD#`(!V_G"(\]"@/01]
M.<`G?,I?3W`/7H)1`>GX,`?,)?6/]$<`?,)?6/\`1'`*==4I^SL$>G=SZAZ\
M<?Q8!3"80`1$1X`!$>.1X`.HCP'(\`&`257)40()P6$%.!(*:9U`,03)E]T!
M)S^J#W0$3#Z!R(]`P"K;F[SI&*(F*8`,`AU#@Q>X.?JZ8!-/(-4S=AC'[OB^
M$$SF'@@D`YOA`0`I/<+R(]`YP"J*J0Y>\@B8/P`//XO7`/#+$+T-W`/X2C@$
M!U4S%X`W//')@]"]0'DQO0`#Z<F+HZDJ:A]<LD4W>ER8!4,3L]3*%%(O4.>0
M%3M[@X'U#D,L\SH)>KM+-HJBN$13]SW``@<`)C?`'(CP'4W'YP^GUY4<UKB4
MR[A`![E%?:*5,QC',`^T4B8"<YCJARD0"E'_`%A#+(RX5D2K]NU],VJYD!'+
M?A-5-4%TU0Y(HD8ATQ+_`'G=W=2?A`!#)XN+!(KO:ZS&'$FCTS]L7GN$2\'(
M3KV]?<_-,'7J3\.<TIF8WS.PLVOXD"<HS5$Y2*`)TS@11,HE443,9,JI?<(D
M90Q`,F8#!SQR`\^F$FQ^3L;T59'21B\@)NH].2&`1]/0!`!XSF6#-5F]&_#S
M(Y5H1F<)DX`>[D3D3[>T0'N.(``?%P`^O/KZ`(Y!:6]I/0T@1PI'2;&139J+
M(/#L';=V5HN@G[IT'`(**&26]OX@*(<B7KZ82<G19LAM)5>2)7W[$BJ+?YI,
M70`<WRA3=[H2I`@*AR-R"991-,KI,3&*`E*!PY$.<N_'W:5HZ;]G;W&%\TL+
M:JES3<I&`.T#\B`B4!(<O>'=Q\!C`!3B/KP`\\?1E3M^6^![#7:NQO05R.3*
M>3EXV&:*OI1ZW8,FZ:JKEVZ5(@V:HH(*N5EW2ZABI-D$D4#"8YQ*4..HY!88
MU7=D:_MZ[MK5;K5+(X8I%6>(0%BAYE9JD<PE*HX1C7KI5$@B'J8H`&`9"]F8
M^,:*OI%<C!HW(JJ\<.SIHI,6R"*RZKMZH<X)MFI$4#&$YA`..,`I7=DA&C!:
M1?2+2/C$TRF-*/W"#..[5C&30,5VNH1$Y5S`'9VB/<!B\>H8!;8VQ0$Q]XA$
M349*&B'RD;*DCGS9^:.?I"`'9O09J+@W<E[@$2&X.`"'(!G4+"OOA=:HE*I=
M3+I$*8YU"D*4X)F$QRE[3#QQR)A*``//J(@&=>CC'ZE6J5>P.+1A4+M_5<O8
MY"G1&QJ5+V^.*L+ZJ1=HA9*QM3-$SJ.TE(=D]7?"LU`HE4*4@B0Y1*/4,K(,
M^,=$Y?>`QA*IVF+QT$1/Z$`HF`04#GJ7U#*W>U<6XPMUBLGT;RQ:FW!<+:PP
M`"B8`$J@B!A$"B`CP8P>H%$1`##P'T8=_7)M.UBAZRUOC0\*J@3E0#F4]OJ8
MJ9@.;CZ![0/Z&+R(?6`9TI:R[)6KEOAC)TKE0>IMW%PQ<6WU$XC]FH7N35*<
MOM`OW%$!+[0CP!NX1`O`B'U\Y:]#.+X9)IUI[R*,\,Z0`H'`QC]W:/:EPH<`
M-Q\7:0PB)0,(%$0YX$0SSI\MN<;=9)-O>.*F!ZD\0,`CR<I>3<G.02%`I.GN
M")O1,Q@$"F]#"'3+[&GEIDX2;;;.6ZE)-V&$KD-*V*=DV<5!0;)Q)3$N^73;
M1\9'LT!=.WKQRJ8J2+9JW*)SF$>"E#+R"3&VB"F8N/FH>2;2L3+1R$O%2+!0
MCAE(QKI!NX:O&;H@_+JH.D7)!3-W`!N1X]!P"Y'7(0H&X5.)C=H)D+RIR/(]
M0,)0`.GKSU^C//?+IMM\3I[=)WQ=!X=R@GV<J"8#B4"B0#&+\9%3D,8P?"0A
M@1,`&,(%YX#GKD?C;E:5=5UCB):4@V,B1R)C)IJ`<4@5`$S+`0HG$4BF-^L`
M2%$P<>I0$0Z9=:T4[%SC;;IAVD.54>EE6)P$Y%RG2!)!854Q!0G8Z`IFW0@F
M.(KD-W%Z=0`<UG)@L=N/5\O(5N+BKQ79-]<$Y9:K(,))N\&>;P*Y&LTYC3-S
MJ$70BW9_97-R`$5`2^H8!GAY)JF=-,QQ`RHF*0!X*(BFF*J@`4YBG,)$2B<0
M*`B!`Y],`I5@,+TG!3`"A#@3\W@P@)1'@`,(CT#GGCCC`.<-M^7GCQHF>CJO
MM+8S>M6.1C_OA*#3A+'.2;6)^;%B64DVM?BI12+CU7@>V15;L*8WX.1P#?50
MOE1OU;B+?2YQC9JS/QZ,K"34.L5XQE&"_1-RS62$2JE]T#)B'YP*$,40Y*(`
M!D97S8XB`*<?KA;AW!V\K`G[AD^!ZE,4@"/Q<=`Y],`\%^T*3W#J@FF`&,*B
MH"DGP41`P>XH!4S&`0]`$1^GTP#`;#LFIUJUTVIS#R0;3M_5F4ZJU1AI9X@_
M/7(TLM+>\_:-%F$<1%A\:9G"B15C?`F)C_#@$>S=FT[55,GK[>)-6&JM79J2
M$U)@R>.P;-DW3-CR5%JDHLLHH[?I$*0H"8PB/T`/`%-=-G4G7-=1MUPG48F`
M5D(&,0>*$44^8D[*];Q\!'(D(`B=Y+/72:21`^(3'`!XP#92*Z:Y>]/OXZ?G
MIJ)CU`!]#E+ST'Z,`G8`P!@#`&`,`E+_`-D?[/RA@$IK^8;]+\@8!CZOQV>*
M$OHDSG._GIQRI'E#CZ^HX!E6`0F,!`[C=`#^'UP"WD.5205$O4`8IAZ<=??5
M'\N`>10\LT#_`$J@83?5R41`./JP"YX`P!@#`&`,`8`P!@$M1,J@`!A$.!YZ
M<?E`<`D';$*4Q@$_(%$0Y$/H`1_FX!J?<LM=('5&Q)S79FH7:#I\[.UHK]L+
MM@YEH=BH^:L7C<JJ"BR+TR?:)2'(80`>#!@'$JWFK;)W:VBF-3:Q)]0V:F:T
MG-N6)PT=@\KTCO9"33U2DRD0.5A')%?1A#/O=(M[B;U+L,GP(CNM6--*UQ3D
M_,IL:[#!=O:N-QQA%.W7#!E^B_,^5CI:]H6&ISMT]O8VRXR@5?7,0R?6MEK#
M4[B-K]IN5O),ST:T.^4MXN6R#9$4UE4S)]J8B41-V]-IJ)*6-,<<*]&&7\#C
MU&LQK!=&'S.G6>_=:/\`2J^_&UB(.NVU;6M*\J+%R"Z+-%$ZBD>>.,(.OO=)
M<HMS(@//S`"4/KRKR;2FDW6+Z5VY=Q/GZRG[57J?B:!9>=T$$9*C*:6WO6;:
MD%3+6Z!8*#[-FO*UT<?*5U*NF:2;J&%11QP9\15T0\:U4*NL':`AEGIM-LGA
MU^WMN(]1K/L5.IA]Y[UEG%5H#:QVB-\G=C%T](ZI"O,BWJL;+5K*=LC8>:0/
M+_=*,-/12@&:R7S/RIBB!P,8!XR5I]-MG[ZK'P:[R'?UNR"['XGI/.-M.UFJ
MNZEI[:LY>[*E;RS&LFK&":6Z@-*9(##6>?L(2,NC%'80\LHDF@*2BBCT%!%,
M@@40R%IM-6DI[L=_M[Z#U&M^Q=C\2P^/'F2I<]3%G;NQEGMF@]-R>\+8LBR2
MBO;B4['/Q:59+'NE3?)R[)"&,19,RG`+D,`<!P&3/3:6OT3P?4Z89A:C6[8+
ML?B7A_YKM%Y$B%5TWM2]14/7*%8[],U1G$.?V+1V-`1L]7V'W0M()R<^_!"1
M**X-B=J28"/(\=2TVFVS[^GP#U&MV05>I^)I6F>>UR85JSR5\U7:I*UO-X[(
MUSJVJJR](IRUB@Z9.R+1VX>+V*?:1\&6NQ;=$7CETL'NF<)E(F!Q`H]2TVCK
M],\.EH+4:[;!5ZGXF?F\^8>Y5F`6U?K*_72XS-<OLY,56LR=1-):^BZ<Z;P%
M@GYB7>OS5YZVCY!P/RA6RRBST2AV)\&`1QW[<+;2A+BP->GG=N1;NJCK@;0\
M8]WRDKXC:WWCMN956EG.N96U6F9<L`:N091TC)J'!>-0$2(.T6C0A#$`1,53
MD#&'KG%J,97%&7[6=WI3A;<K:K,U^/GV_B(63G+OI"VTIJ^HD[L75A9&7@G0
M;4@((Z(+-&"K9T`04ZY9NR/2-7!3'!HF)QZ'+QN>FTE5PSPVXK#VW=^&.+S]
M;3&"KU/Q,OW#YMM-5EN!4==SEK=U35%*VHFRA92!06F&]VL+2NL(%H,M(,N'
MZ#AZ0YS`4P"3J`#D1T^D:QD\WN1#OZ[[8]C\3HAEL.\-]9O+W;]<O:_8(VO2
MD\^U["RL;;)OW6)#+-(5G)-%646[DI%(``H`(%*H(E$>G(\^3I,HR;QI5X+;
M782K^MVQ66Y^)P"C^]`)&JWJ+N>GON.QUC5,OMJ+@X'9-+OCQ2*A9.N0LA!7
M!O5G3HU%L:#Z<Y(V<G6,L4H@`E$H\]^ETO$J3^G;BJ[>CJZL<QZC6TQ@J]3I
M\3=NT_-=KKJ[7*AFUM.3UC@M?ZIMM6:L)6,;%NUAW%<)>F4^EM1="!HQ8)1@
M3YI\IW(H@8?ASGTVF:JI]?MU]P5_6UHX+L?B<KD\A=U+[,M"=]B]CT-ZS\K]
M$:_B-6-;/6'D8U1N&J+!-&BPL[.)5;RE%FK+$D=J%!,JWO!_;@41*/S7K;VZ
M/8_$^D>DL[&Z4W_([H\1-@[.V3H:GV[9\4V966092)UWK>QQ\\>0<)S,F@8S
MI9@Q9-(WV3)^VD3VS>V0A0-W"`B.[3W)7;?'*E:O(QZBW&U=X(UI19G)]*\P
MMMQ]<J$/K_4[O:KE366R=I6*9O6T(1G8T6=0V+(0"U:2^1KS)!W*R)SG)%(^
MT0"I)<',?M^*\I/H&EM!^^U&AM&,KZS\TA28FVQE<;O8M-XZ5E(AO)C'?>3Y
M\SBT@;K+B@=8YRE)VB<P``<9*I5)Y5(=:.F=#YV1/[RF627MT;/Z\I-AGHVG
MN;15HW3VQ2[#8OI(;)!U1E1K1-DB8]C&6LLU.)IN!CQD&29"G/[H\``^D]-H
MMDY9[UEV8GF^HU_V1['XFZ9SR5\C:NO%4VQ:"K+/8]VMU8IVO';&\*RFM9!>
MP04[.2,Q8)ENP_:!@RK`09D5R(LU?=.J40.4!QY&AI53E3KQZJ4'GZ^M."-7
MT/Q*=UY)^4#Z9A]=U_QYIL=M9K&V>P7>-N&Q%$:PUKE;EV\3&OZT^@(Z4DWK
MC8)EA4BD%T4U4R$$RI1`!QZ?0TKQRILQ6WW;-N05_7Y<$>Q^)AS#SHO%Q.ZF
MJ50*I'TJFZSEMA[/?7.??L)V#>UZV3U1GJ;#M&#5PW6E&LA#A[3A<2)"!@%0
MI.1`L^GT*P<I5ZUX#S]?]D:=3\372^^/(>/W6G<=AU^E5>,2\3;AL"`IS38Z
M["EJ.S6N.)%M[Y,S\0V+#S4*P.7YYRF!D3&/PD`CTR?3:'[I9[UX$>HU_P!D
M>Q^)<8G]X3>WU?V0G'5[4UUM]2<ZI6AG=3G;LA1)(-K7`*X2)>3MHKT,X5?Q
M3A40*NS36:*)E*<#]HY'I]#]TNU>!R[/]T7?ZFFMV79?[:QE6G3]6\VV^\I]
MT1TDXU2XIFMG&\7NPH^AP:D9+V%UKE)I*TV0O)+-*'<-6<^=:(B6R97,<0"F
M.)^]-82CP!:?0M_NE3K5?@3%<_L*NNA;I+]O#%[,Z_4^@P78?F_M_7LO%:PL
M=&UK6]O-Z_:[;9G2I]E777:M?A+$%?@%H5:AUV:L#-W:5U$P%!ZF19D8_P`9
M3!QG%RQI(VY3A*3?#@JK/LQ[BRW?ULKBC.*4&\<'EVG5M:W=<+KXT#NBLZ^<
MI7I:CSMB9:]LI'\$9U/UQF[.ZABF71%\V0EGC!0K,5R)*B4Y>\H"`YYQZ)R2
MV_>&V"PR=H8TZB5J8:O*SK(FHI9O8EG*=XV=:']<C[Y1UV38I9!F&OG5L:E<
M*E*`B*1P$/B#C=:U']O1C!:F[<5Y5\Q)K/\`PX.E'OV/H/.NZ;^YY7)2TMNR
M],W]#<9-\.ROU*I@[[8>VG&RZS'Q#ZOU>KI,_-J%L\<VLE^DG,[/T5C"*J6B
M(<*E,TCVR2:7<S25-V)*B?L*("(97JKG*KDE^+E.4%7BXFG3*B5$NDOTMKFU
MI-<UC",G3AX4U58UK5OH-S>%>W-V)P/CCKO9_P"R,Y"[%\;*Y?ZM<HL;`6T-
MSUIC4(^1C;V$TJHE*S4TWL"2Y'C;V4C*E.(%,40',IJ+=Y>6/=\9L.VEJ]MJ
MT'K)+Q&W%9WS!VTM25@3D81>/6?O4I:#?%:,7J)VZ0-G2B(@@F8Y1(?GD`,1
M1\MMMZ(UI-M=EQ5+GGL%H#7&QM?/*BYL\A)/T+!)P5*CHFXA+D]^5G%7CDS@
MZ[4$@>F*)2%**@"&_P!1_;:5M3N78W%_J+B6['A^G#ZM]<'O)PVU.C_&+?.T
M-F62UTW9D(<'<#$QMACK>QUAL+6L+(MI.5DF)ZVK&;`46<GG(I)H0ZCAHJLT
M4*(C\)A[0HU-WEEV2?+'-VDJ2XFFZ]%$L*;"#3VY_*_<U"W^2ENR4RC:I:RU
M&C&-FME4N%AKET9V)Q\E/F6NE+5DFU#L\8Y>-_DXN6;)?.%#DJP`H`ESG4;$
M=4_(G7A:V8/#';U&B*ANGR'UQK^>:R>SJ8O:;3Y%[G:,W)-<[/VO?XRI5^:%
M%!E7]=1TBX=2:*9E41]PCMM'QK(Y5#B<YC`$EJY%HZTXKM.N/_2;"K?DWY;;
MNC->,=8/-74R6D]4W^XVY[;:Q-R#A:PZ^NZ%5!I'5\DF@I&1DTES[P*J+F:J
M*=W?P7@8***/TK)8&O=H;X\@][Z;V>K2;/JZC5>G^,U?NVS&DM5I>7E;HZOU
M?G'+Y6J33.2CR5Z*CQ@EO;5%%P8##P81[>[,>HU%RU/ACPTHGBL<SN/+[&K2
MG=X^*O#]-$J+'&J;*3:WECO'6L%"N=7V:$?P&O:-J(+%5VVG+/>X1(\ZPB#R
MI;SMPUAK[&J2KU-Z/R[=%!X5'@!6,/.9US"^LN'L^8G_`&_HYQX'*ZEUQ_Z7
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MJ[AH3<\,:'B&$,D_<QXBXF`.5994[A;Y7N2(8H=HA:_[GYA.+4X6'&>+3C+&
ME%]W0LC5_P"G_P!N1;4;FJ^AI55R&VF/[%E7';NW%RF/-_S`N\-&N]:,GD0-
M+\?J5N&>"LTS6S^)N-LE'%I9RKBVI[!MT%(5;7"@5TB9G$4+A=FL93N4$Y0(
M'EWN9:B_<=V:CQ/K_5M]Y1=T.FY=<>CTCE+3QR<J-XXNK22S>X^HGD+,3-H_
M=_[9L4XS(SL$]XT6&;E&T8_:O$$)F5I*KUPW8RB9GK!RP*Y5,5)4?>(!.##S
MEFGOSNR:E2B1PSA77?C_`+722U7O"K:<UCXP,M0Z7L]F7F-<V>&MEIW)+/M>
M(-85A9(FMP$%'A'-G@A('!R*PG<F[#&*&:9MQ@Y+-)DP2<TGDVB_;;\C+)?-
M2P]3_P`P(J5C]@?N^[[M>[H)EA5W8V%=*GH-)Z1,T.F>,1C"3;KW6_N)E%,I
M``_)3";S/6WJ?R^WO/16CLNO[E1[?TP-5;9M%L1UP\TM8=SJ[DJ%NU+I;<\?
M-.8^#31U[.);4H<2WJ#>3J[LC@D%8FAE#,4E^Y5-)-4#K'YY"/6WO\/8_$E:
M.S_B[5X&20.S+]9MX;,T9&[D'QYBI+>.^9178=;K&OT'S\]%;U12-I*)YZ+-
M"A*`VD%'3MP=!1RX9I]H#W!WYZO*^97K4IOAMRP7[DWOV5'H[5/I<NWY'<C.
MVWBY^&]LL5/O,=LN_&UKL%*#O]+9#!1]AG(EO)QT;88UB^21!F=8404$$2'*
M*H<D+P(9Z%S7WKRDG&"K%K!/+HJ^PXO::W;MN7U9;6MW0<X55MX'06D?%:PO
M(^O*6O[ZUD6@2NOOE4-N*[=<G9-;"JY<0SPMQDCFFE'CN<:O55T@0*;O((&*
M`8#SC7U3W]LU5[6MIF\C"S=JOGD%:=/O_&048)6)8U]M:Y*,$D8P3:L[;!6>
M$K2!9-Q)+F59`0Y?@`/6^?\`<FHM68Z-:?1N-NB4G"7F?2TTW)356]N%&L*%
ML.4Z:]_5E*XI2571JF.[`Q_6<AY$W>*\773WRWV?#%\H#[=A[2V8,ZB]6@HN
MBI2TE65]>NGT"8D++MCQWL.UER/RKHJ"'80W!@ME_>&JDU)Z/E]4V_\`2EF\
M_P#N?$Z_!Z7+CN_\R_Z26EN':ETL&I(2\^6DAIF+<:'W1,RECBG-1KZMGLNJ
M-GRL#!3<V$_!R*17A(YF"CY%I\+DQ133[`/E2_NK5<,X+3Z)*<FZNW)\+:2:
MC6;X4TLJ;6=+E&FM25R+NN2:VKOPQ-#["\QMTSFK9/;([:V1!7_4.I*9<Y"#
MB9W5FI=9DL;V#?2A9R1KUL<O+MM-W=X]%-VK%M6;<C1LOVD.!C`;,T/[BU4(
MN*LZ?A:HZQDZK=5SK1;%LV&QZ.TWG+M^1TW;=G[<6#=6\XG?-];--2;?\;4*
MQK&(7@T*6[C=G0NI'5R@IYHZ:J2,E$R_[3.R-4RN6HHF5*8/B#*7SO4R3^BS
ML_E?NSEL.'I+:DD^+&NW=[C:5`VCL>3\G8;Q'_;NPOI[4.UM@;:O\NZ6C@=V
M#0G[+QTOIB*<+(E.D:)D[A=D6`%["G,@P.'/?^LRV.KN:MN=U14HNGTJB?3M
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MOF8B;M`I3B)Q1YWJ(II0L_\`*]]=_P##8:]/85V/%*M*^RZS+[/Y)SD!%;^K
MEEVDZIVV'?D1X_Q=)J:<BZ;2\#$6UMKAI*M(.-(R-+,Z6["9>I"X,B=(#',!
MS%XZS#F6HU<U;NJ"2CL3KL>.+W$ZC3PMPXX5I7?\CPCZSF=&VO\`YS;BF0D_
M-RZZ4)6BVR0<TYM1+*XG*HA!Q\#V%C'!8Y\B0K-T=/WDN.!Y[0RXQ',%/OTM
MKO5NO6&K=G7L[]GJSS(D+W'K6925DJ9=Z^]C08).CNT#*UXY7+U9RFBD)3&7
M.8W/``4`.B]A2-QU4,Y287:FWI&G6O1VAKILJP2=QL%DME7KS^S#$[(MM3D`
M0,O#OG-;)\NZ4:B3M(?D2A]`'2O@G9:78;WY+1FG=K73:&IZS9:1'4IY<+'/
MV1K7575%,@]CJ;+3@&7F*ZH[024%<5%#%4Y^(>[H!CK7=>H/&?R*\H5/(V82
MIDOLRV0MBU_=;'`O%XZTZ_9UEC#,Z37)Q*(>I.9:)F45U211#?KE3B82]>,`
MY%_:7;GCIJB+\B];4:[1M'VW==YTN*U3'QUG%:NQ.WK&XG-"6UM0`*FM!F@;
M0Z66<II%;$3B'X$`R9B=Q@-7[<C-N:@OUDU=+[:=P]KI5"U2RTS9-BWW>K&P
MV6UR-56?7BQ:\@J!'2U9VE*NK6U51.RF0)V(B9,G:3CM`V=LRK6V3HOE!MV8
MV;LQG?X[?.KZS87XO-M)ZXK51_8VANKM%OJC6EF4M4J9-JR2_P!Z2C-JJM&"
M<.1X*81$.QJ[_P!&CX7=Z57#M6).IMPVX\UO08S3B-ZAI)CM[>L/7)1#:=[V
M-KFRA_Z;;98HF0J-FMC"-EY+5,;:8M!I%_>@+%;2B1P(;O*50%&1Z#G4/JN*
MVH+%_2ZTV_S&!RLU0[/7KK7=>2^\I".D_!"\AM1C8UMEO05VTO<*&*KYG'V4
MJ8.K_$.GSHDJHU(9HT`R)2?$/(CHVAY'ZBK-$K^Q:(WKNPK'J]K6O$':5E@)
M"8O]A8LY!/:AX?8EEBQ>O'QR.?V8*LO)MT``S8">Z0""':`'WBJQX@8V-+!D
M(G$A$L?ND@$51.G%^T0&B1D712/2]A`]50`PCZ]<`RG`&`,`8`P!@$I?^R/]
MGY0P"4U_,-^E^0,`L"BK9&S1:)C&^9<M)L4PY#M$I%6!S].WGD`+]>`93@$!
MR`H7M'D`'CT]>GV@.`4!$P3D%2E$1`6*8]>/[Y4/H`/JP"&)_P`"T_1/_6'`
M+I@#`&`,`8`P!@#`&`,`8!1/6GS9"IC[(D`1[BKH%6*8IQ*FL'`B''NLSJI#
M^!3\&`?.2K>!\U7-&>0FHC[)2,^VE9Y&5UU:F\3V.-8UZ*DTYS6U>*@8_=*-
M:5*E%0@<E`Y``H?@\^[;UDKDO+:4&\,?TH;+=S2J,>--M+'#-X]/4:^E?W>=
MB1KVG',3:-57/85"U_9Z7=7^Y=?O[=4KK+6ZSN+S)79**C9F*>1\ZA<'[IT0
MHG.DJ#G@_1,.<EZ6LTZ7F2SKDZY>XO5S12K]+I7#!=!U.R\8X\GBTZ\;'LQ'
MMDY.K/(=_8*M6V%<C64T^>FFS2\#5$%58Z,9LIX2JHM"J"3L)P)N1$<IAJ=1
M-J$6^)LBNEX^*GT[O;MZS3\QXO>25S91,U=_(6`7OE&?4*:UN2`I:C2CQECI
M!@;R-AL4?(/GLY,R%ZBS*)/")NFZ+4%3`F!@$.---<]J[?D=\6BV1?=M]^S^
M!DM3\3[E'W&/V3:]C0<M>Y';4/M*Z+PM.+$U]5"NZ[E*'!T^KL',P_>1<:@V
M>I^\X44556*3GCG.U9U[5:KM^16[NA3IPOV?LRQ_^CO8-9LDY?M8[>BZY?)V
MQ;;6<R-BIJ=FB25+9LVVG&<2DP^\6)TI*JR;%%RV6`PD,<IB&#M$>9\GF&QQ
M[?D%>T-*.+R7:8<Q\#]A5ZJ1]8JV]&3,\GIN0TKL.;E*$C+R%@B'5BDK$E8J
MZW--L6%<EE7,TZ^9(=-WWG4[R&[@*(0[7,(JM53K.E=T$G^QUZN[,R^,\-=A
MU5VX::Z\@9F@U6Q0.MX>[,V-9;2ES?N*!7HF"5?UB^/ID[J$&>2CA*N1PU<]
MJ9NU,0+TROAUN_O)XM'MBJX]717Y&&S/@':5U9Q6&VY`JBUVI<=D:^)>]45?
M8+.*:['C&36[5JWQ4LJT9SZ+B0CTG35RW,V5`Y"@J!R]P&4UVQ]_R)4M&\)1
MIU?I\Z%U;^#.P:VSJ;G7_D,I6KDRK5HI=UM+K6%16B+/5;=+-91[&1]"A_N>
MO0!X-0J@19B>_P"QP3O,;-^D5U0?G.LJ_H8M2[3FO*5(T_4Z3UOX[P]+\9X?
MQOGIJ1ML<QUV[U])69T"+66EFLC\\#UZL5`P().E#N_='M'L%3D`^'+;RN2M
M.-K]Y5:<8W$Y_L.=2>`\A8XXD-M_>5AVE$5K75BUCJQJ:K0=6/0H>R(LT5YY
MZI'JN/VPL\<A%-$&BCP013(B`B01YYP>3K]Z[3;YVCV0=?;#Y]V)(:>!5CE6
M=O'9?D19-A2UMH^O*#\\K2*]7TH.$UY;8JTQHQC.-<JM!=N#Q94UCB7]8(B8
M..>,KX-=O[S*^9\M3IP2PZ#M?9>O6FU=:6[6LT^D8=A=*M)59]*PS@C26CFT
MDW!NNX8KH@0I5CB7OY#C@QAXR6M;2G1O.K6HTERMR";CQ9-9^%*GSKBOW8HN
M@7'8&^)NSA_E#<M,1K.L:]HVOXJ'KMD7@I*+FXYA`M2F+:8:<A2.5G*JB@/>
MP"G*7G$8:Z6%<>LT^=HMD'[>W?T&PFG[O-S--KV_V3Y#;+O]VN=+U95(^\)M
M(2IR%&D]02:4[5;15HZ&1%@K(GFT2KKD>`J4YC'Z_%G?DZ[;)=IR[VDK6,*4
M?;U[M^%2_P!4\"$XV:<6V\;JV9LRYN]VZXWQ)S%C/`,6CZV:VJSRM1T)'QL2
MQ33A*8Z2>B?Y1,142,0.#B`CS'H[U:X=IWZNW2E*+X'2FFM0N=,U&0HZ%QFK
M-$!99R:KXS#6*;+P,3.S#R<6K+,8MN@FM%M7LBM["JQ3N1+_`&IC#P.;]/;E
M:M\$LZLQ7IJY<<TJ51IVF>&-*U\B*-<M=N[CZWONLEG*ZL<+@T7L2W2=QFY5
MN<4!^7E6\A*JE2-QT(8>.!RXJ-WR6DZ[8])K:.GW4H^I[W7C?7<DHV<IQ\N\
MCT(=E"_.&>MR=J3XC=B4P*$#J<1'@>1YAUHZ9T)5*JN53DR#_=V4\SE9W>-H
M[&V0X'6[[5+)&86KE>BH6F*.V#J')!1=8@&+>"G*^I')'(]:]BKU<@+.>]0.
M<\SR-?\`<NWY&_SM'MA[=WMO,B7\!:Y)P[LUAV]N>R;$1FZ[/U/;DI;6J%VI
M3NF-UFE0;0!8V-;P:;2+1=N/F/<:G%^9<YG`*&,;EY.OWKM^0\[2[8*G5_#X
M$R0\#ZH1C$&@]I[NJUO;EL*-AV9!7]%I=[NSMCU&0L4?:'808L%4G:Z``V.U
M0:*-`'X3]OPC'DZ_>O\`F^1/FZ/-Q[NS;V]QLNH>)>H::,FE#0T@9A/ZR/J6
M7A9:9=R\<_J[B1?2KP\BH].N[?3,G(2:ZCAV8QC"HJ8P``<%#KR==O7_`#?(
MK=W35_;@MM,_`U"'[NS51S6`]FNVX[N,[0U]=L`MFP3RH4^N_>Z<W&-J852,
M22B#0+Y$IFAU"+]O``)1XSGR=?O7_-\COSM']M%7=7#MS+K%^!VM6[J;E)VX
M[2N,Y:AU^2S35ONI9MT]9ZPFDIZG1[-L$&PCXUFTD$2F5*W22]P>1]1$<GR>
M8;U_S?(NAS>_87E6(Q5E9;_?[S95Y\5==WE[;Y5P_M4#8;7:JS>6]MK4XM$6
M6J6VH025=@YBN/DB&*B8L80R:R:A3$4`W`AG3M:]MMM8])2]<[T(POQ3C#)4
MWY]708>EX):I;U^'CH6P[8K$\P_:O[PV%6MCRD+L"SENLD65L9+98&90/.)O
MGI>],#E_4"/P\9U;MZM7(N;^E/''9V%4[EEI\*56L,'W?,ZFIU+A-?5BO4^O
M,U6T+6V*41%BZ>N)-\:-;F!?_C'SPZCEVZ<.>3*'.81$3B//KGH&0YKJ'@EX
M[T>2I4U6*8LQ?:^OVQ-I598)EYV-[OLX#DLLFZ;"(HK@4I_^#(/P-@#@`SS+
MG*-)=N.[)OCE*K]YZ-OFVLM6U92B[2BDD^CQ+W;?$C5ME?PKURA98Q>$M6P[
M:S6KMKDH$5GFS@2;VV.DB,3%"1A)-NB43MS^A@`0$!YS3I='9T:DK-:2=7[C
M-J-7>U;B[U*Q5%TF=47QZU[K\VM'==BW*3W56O0U;37+J8?O5(ZDG39>['+B
MX,8'RZAX](?=4Y/\`=>@9J,Y)VIXXT#<<[!3UR&S%<0L!9:FJVK]IDH&.GZO
M;4DB3,!9V3$Q"3$6JJW35(0P@)%2@//'3`+/(>,^IY85D)FL)2K)76D1IEPS
MDI&0>(+Z]K\F,G$-%`!9NJ,@P<E(=%P!@626(54#=Q0'/+N<GTER;N2;XI-O
MM)KO+MIOQXH>ER3CBHJ6V1E9Y%A'R,Q=KU:+W+&B8@GM1,6A*6A\_>HL&34`
M3(F40`OKUS7I='9T<'"RVU)U=>P,Q"Y>).D;_>'6Q;74'\A.R+J+D)V&1M5@
MCZI992MN"*5Z4L5582J%?G)1@0H`19PD/!2%`2\^FI*K++$G&XFG1XX^XL$_
MX3Z&G96<L#JMV-M-V2Q/K-+25>OMRJQPF9PJ2-D<,`B9Q!*'CK"@@0KQDU!-
M%8`$>.XQA'O@6]'I*\Z4JD^W#VV]QGVO_%?2&JPA5Z324(/]GJY.U.'(C)2[
MKY2N6EZ,C-1`&?R+OWD7+TPG$YP,?DWKSURL\F7[GUF*VKPD\<+VVJ#:P:]%
MVRH\,:LQ3)I8;!"M9*OF!?NA[(UAI)BVL<2!G:ABM7A5$BF.;@/B$,Q:C3RN
MSXEE2F=#38U'E1X>FN52GM?@_P".%VESS5PU7$3CE6&@81VW7G+,C"O&=8;E
M9P)UX%C,,(4\JR;I$Y=F:F4,!0#NYZY1Z*Z\E&O662UT+:XI.7#7<O:FXV('
MCGIQ:HV^B.:%%'JMYG$[-:8U59XY^]["DSC&+>6%=P[6<MUF;6(;D2`IP`GM
M@(`'(\]K07J4PIUF>7,[7$I1<FUT84_5LUVS\(/&R/K,E6D=4035E.3499)E
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M<,0M6G+)LA#+1ARE*:,19-3(-B,2HEX%,H?``!Z@'&7Z?3W+,FYTI2F#$[;A
M%2;3KL3Q+NSAXF.AVM=81[=M!,8Q*%:Q()=[)O%MVH,B1Q45@$%&B;<OM@4P
M"!B!](9HFN*#BLVF5Q=))[F:8@_&#QXK2,DC6]*ZYKY)N*E8.8"-K$:@:0A9
MMTD[F(=\*)`!['R2Z)3&2.(IE'T#/-]'<I1*/:;%JMKE)OW)/NP_4JJ]XT:*
MJL-9J_5]146OP-T?,9*RQ4178UK&2[N+<$=1BDDT3*5(QXERF"B78!2=P!TQ
MZ.YC1*G63ZI8.K;2]NWIR(+;XY:0N\,_KUIU/0[)&2EA<6Z6CIZ!CGS9S:GJ
MJ:KF9>"EPN>84(DF45.>J92AZ!FK36966W*F*7ZG4=7&KXFTNA>)L2%A8FML
M48*(BV$7"Q[=-A&Q$>@FTCF;)),$TVC=!$ADV[<I>@`!1X#Z,UX5)NZJU.RX
M*O%3<89!>/\`I"KW'_,"NZ>UQ$7%<%5`N+&JPR-A!=<1^:.I(%:(NQ45`W0Y
M1[NH\B'.0><75'3.K8VW/=@1>MZ(QNLFV50?W)M5X4EK>H.!$KE%W+F8'>+I
M.2&$IQ,K[AP'@1'/.N::[*XY14:-OK-D+\(P2DY52RV8>W45S'7%'B@B",:5
M68T*ZL\7K1&4#&(#7C2!3`]>0X?*K%8OWX'$JQR<<@`@/X>5HKKK^WM+X7?,
M5(MX9UVM]F"Z#1<_XB:FL^U:UL::J]5E(NKT:7IL3KV1IL$XJ312:LX6E[.)
M)G;&4+(GD3G/W=@`)^O`<Y+T-Y8_12F\LE<<(-MXUSKC[='>;;F='ZALLP6P
M675FNK!.)-D&",Q,U"OR,DBP8D%%@U0<.(DWLHMT1[2D`."E``#H`9SZ.[_A
M]O<9_5163DO;KKU8F0!K:@`U?QXTJHFC9)U$2#V/&N1(LG\C`@S^YG\DV,U,
MB[>Q(LDOE3B3]2"90*`<!Q/H[O\`A.?4IYN6>/5N6Y&I=4>.L!K+:.U-O2=F
MG+KL':KB*C@F9AM$-$JGKVLR/S%1UM7FL6R9)EA8)S)',!E>]54QQ'GX0#-6
MFM3M1:GFW^A5J+L;LDXY)=^U^\WF6+@E9UO8"1$<2Q(Q:L>WG5V3$\LC#+KB
MN6-0<@`.D6+QP3W.`'X^P>0Z`.67H2N6W&/[F9T6V6U_1[,Y7>6*G5:7D)1J
MDPDUY>`AY=5\Q:**+MH]PM)1[LZL<DNL8X)<@4AU!'CDPB.#TE[H[3JJ)3W7
M.OI.)B:[*4"GOH*NK)N8*(>5N$=0\0Z((F!Q$Q;AHLVCU$E![@$I.>?3)])>
M_P`/:*HFR5"I<M+QEADZ=5I.?A4#H1$T]A8MQ*1B8!RDFQ=KQQU&J29^I2D$
M"D,/(<Y'I+U:_37K^1?:O*$7%MJK]MI5*U*KN)-Q/O:Y`GF#,VS%W/NXF)=2
M+UDU'O;%^<,B*ADT5AX`H\"4W'`!TRZQI[ENYQ2I2E!<NJ<'&KSJEL1=48.$
M0!)/[GC2?*.A>MRA'-$2IO%"D,+DI$"`F"W/`^YP)^[G[<W&8H&]0I[5^]D6
ME7K;9Z[$Y9%RW@XXBL@93CO4<N$V"2BXG$!`PB<>\0X-SQ@&#[:T_6=M4N8I
M<@O*UM*600!&P4R04K-H@WT<J+N+?1,RR**Q!0=@'<D<#)&*(@)1#I@&*:(\
M>*OH!I86L%+VZTSUQE0L%OMEUFT9^QST@BP91C1-==O'0T?'1L8T:E(U:LVJ
M2*8&-SR/&5W+BM1XFI-5V*IU&/$Z52ZS?#Z,C95%-"6B&<HFBJ"R";]@@Z!!
M8H@)5DC+E4!-0HAR`E`!_#E'K(?;<_Y?F6>2_NCV_(JQ`XCR*1S>@AR0H\<>
MG`"(@''T?5CUEO[;G_+\QY+^Z/;\B2>.CG2S=V\8,UGC,#E:.'#0JKEN!^0,
M*2PIG,D/!AXX'Z?PYHMS5R/&DTGO5&5RCPNF#(S1K$Q3$*U(Y*H)A534(`$/
MWE[3'4`Q0!4QR]![N1$,MC1/$Y\_56/JTE.-X/&F!8K#5Z_.UZ3K$S$,3P<R
MP=Q+UF9?Y-%1"1;J,U6A3MCHKMQ<HKB0!2$IP`W00'.FXM4JZ$+7\U<ZSI1J
MC?%7!Y[,30>C?%[4>A9&1L-6>W6QRKJ/<0+:=V#L":O+V)KH.EIL*I!*RS@[
M&*K;-=$5$TRCW<D`#GZ962=-I"DH<?UB2Q`/V'4.9$0-WF`?8$`,(F_/X`..
M!^CUP"\<?R8`P!@#`&`,`8!*7_LC_9^4,`E-?S#?I?D#`,?<!_\`K3##]/R<
M[_78X!E6`0G.!"B8W/`<>GX<`MI5B&?KG#G@C)`H]/I4<+@7Z?P8`B?\"T_1
M/_6'`+I@#`&`,`8`P!@#`&`2%U#)E`2\<B/'4.?HP"F^94_ZOXO^G`+)9+,A
M6("9L4@508Z#B968?BV(0[DC.(C7<HZ.@FH<B2AP;LS@!1$.3"'7`.--7>=E
M:V/9M9UV8U5N+6+#<[;YG4]LO=<AD:I?U%88\^WB8F4A9R542?N8#EZ0%T6X
M>VD)1$!'G`.IF>Q*3)O)&/B+I5)A]`BHE8&49.Q#AW%KH"85_GFI'R[ABDD4
MH]PJ`'':/4>H!;:TD-6VI++]3RN::QZ2,&L>)O\`0M#/<.M96-DY2'V)0I)G
M"%36G'C*TP[]C#-E3BF5:2<M9``8($,'!E%@*`"'IFBURJ$;L6HNM<*9X'E_
MEI4KM]^WO,$V5Y.:JUO09F].K;5YLD;59*VQL-$VBM_>5E81K=1=9&"0<RR:
MD@H`$]4@'Z`]1SU+?*[D[G`_IC6E77MRIU8G#YS-1K1U,NN&X8"DZG>;=F6D
MD$&C7H:=8QB#<59B24F639RPBF[5,3B+Y\Y>I(%*'/:8W/7C/#U$/*OSMX/A
MDUV,^ETUSS=/;NNM903[48]1M[-+I;-QTU.LR;"6TPG40FBNGD>8\N[N-6&S
MM&C5NU.H=@HPY%JH"W4ZB8F`.,J+S'Z'Y8:FM&K*;M.TVBM:W8W6,/*1\);+
M#%,Y!%L$HO$)J'.=]R<IGK8R?]F`B<P%X`P\9=I[<KMZ-N"K*3P,VLN^3IIW
M?M7ZHM6R/+6DZNG'\=:4&C.,"3U9$5Z4+::W\U9GFTI!1A&+L851U]X,XME[
M8F46<`3OX_5@)?BSW[/*)78*?$E*LDU3)ITI5/.O;LJ?.3YS.,N'AEL[\?;<
M;62WCJ=>XMM>H[(IJEW<%2,E623L<>8=$60,NBHS:$4'WA41**G8'(@F`CQP
M&9_QU^,'<E!\-/?TU5:]Q/Y>3=,:U]ME#4,_YA:Q9[+U]JVGS\!L"UW:]R-&
MEX:`G8Q9_2%HJO34RXD95HFJ9V[34<1Q$NPA>"]>O.8-=IYZ:Y&,E2L:YY^[
M9NHSV>6:IZJS*<JU4J=Q-W5Y(66A;!IFG]::[9[*VA;8F6L_W5,W"+H5;CZK
M!.D&LB]7LDF@X3>S3EPL"+=BU35,F(@=8Q"`80PGI&`4#SWH5GO%;UI=*S*Z
MFO\`+U>Y6.;K%]F(B)6JIZ4_!F[9O)%<&["5;RS8%7;-VT$[8[=#\[O$Q2Q5
M$T,KN_G)H.HZXN^R8N^P%XBJ$ZK[><:5QV!WB86&>C81JY0!4A4EHD`?BH#H
MHB0_8)0SZ6WRB[-Q32C%JM:IJE-M/YJ[,J;3P91C5[<?;W&S%?)S1;6QP50<
M;1J@V6R,XIW$10OB@HL68:(O8E%99+O0:O)QHN51FB<2F4[N`#TRK\7J'7Z4
MDFUFL>E)[%M>U8JIZ>B45:]_Z(MO_JFTS+7.5U'5-B5:5W&U<2L,QI)W#U)9
MQ98YDJ[6A@<N6;5DL_C$RE6?HD5,=NV`Y^![>,R:O0W[%GSI)>558UC7'H3>
M#V=]#6Z;,S+_`!^W*AN_5L'L!"(<5N0=N96&LU4?G*K(5*W5]^K$V6M/%BE3
M(X/%RC8Y$U@*`+H"FJ`!W\!Y9!NCYE3_`*OXO^G`-!;YNVYJ9!A/:GIVO[8E
M%Q=AEK2%[MTG5DV3.'BSR+8(H(N&EUW[A<4C`<!```!#T]<`Y%:>;&V:SJC2
MNZMQZRUI2Z'N.S:VAFCJOW>Y6B5@H_8J3E5@\DX9+7Z3M9WW(%23;MO<4,NH
M4..`,(`=%K>;7CM'Z]A]C.KT`UN>L;FFQ*<?`V68L[VVM$U#O*^-,BX5S9V,
MBQ!(PN".6J'LE`!$>T0-@%KM/G!X^4V(JT^[NYY..N\&_LU>4JM>G[B9>N0*
MZ3:P2ST*U%R?W$TA7BI47XR/RWR:@]HF$W`"P!D%M\S]`TBT1%-GKHX--3C6
MO/VR\-5[)8X*/86]3V:N]F[#`1LC"U]":+PLA\\NB<Z1RF$"@.`;!VOO;7&H
MH"`L%WG';=I9)-A"UEG"04M9IRT3$D0YVC"!KT$T?2\FX522,<2(IF$A`[A'
MMP#EEY^\+U*79>L:E#-IF0JE_K%^LCVZ.*W;VX4]6@A'&E(NQPP5\'T2NV,]
M$%A<%+[7:(FZ!C`BJ,ICO/W0DE#VZ;?/[E!L*/5W5X>A9J!9ZZ\L5*:R"46I
M;*DG*1S5O88<7RQ2$^5.HJ/'<)0*8!Q1DU1>(3S9TE/5*YVH'=L@RTHL.=_"
M3M)GV5IE/VF$RE3)6:ZJ@5[8U+.FD*;5-L!E5%CE*4.<`U[4O.RLR:FXYN=@
M+26KT*ZU2G5BOQ&O[<MMB5G+#66DT_JTM13-Q?-)R"=N/;5$/A$@@/TXHWD#
M-W'GCI=G$4=TV0V3,R^P++:*C`T^)U5;'-T:V"H)I/K%%3U=%)->#/!1RH&<
M'<G3[0#N'@.F*,51A4SYW5F9V'INE4)C+NH^]WZT04K;+#39V)JDY7Z=!33R
MRIZ^L*YSL9>R,)..23*U/VJ+\F*F41`1`#;6FO+NB;KE20M9AMB1:CFMO;;`
M/[+KF?K\':JS'RBT.[EH*>=@YBU%$'J`@+)<[=X`"'<F&`4UP\R-74^]WZBS
M+2Z&-J:"83FS;DVIDD:@4AO)PQYZ+1F+*JY;H&>SK,OMM4T@4`5@[1'J&`8\
MT\[]3EK]QE9Z/O-+E*/"P]CD:5;:<]97B1A+,^^[*HZKU>9.9`9I":>=J0*@
MLD!%E"E$`YP"Y5/S9UU;)8T&6"V%6IE#9E)U(_K]RI+^M6.,N-XB9.9BRO8M
MVX5$(D6+(IA<D,)0[OIYYP"3<_*.+A=AQ=::O0CXR&NFPZM=22-3D)-]*JT7
M7S>_R!85XSDV2,.5M%+G535.DX!WV%(`%$_<`%A2\ZJV2LP4^EI_>"KVX@:1
MJ%9"F,`GYVI(1;.3>WINR//))(UMLBL?D55TU1$O';].`;-N&_XQUXQV?R$U
M@V>VU!#7DW=*S&MF";A]).F3"260CC,"ODB'=LWD><%T07Z^V8H&'UP<7-->
MU<'I].Z7I9/JQ^".8@\W9RM6!5Y;=6;0DJZWU/K/8D\Q@ZK&,Y#7C*VRLQ$3
M$K;R2%C*5VS2<,R*)HM`.Y(D41[3`(#G2P>*J98_V]S927%<;JZ)5S>=.G!-
MFV[CYOUJF6Q""F-<;!_9!.Q5BH2.QP8PT97RV&TJLB0Y8Z.GIR,L4G#NC/DD
MQ>(-%$DU3"!A[0$V<MJIM47%<+S6#+OXV>1.P=LQ&]I.VZQLE=4UCLRZU*OL
M21\:F%CC:R'M-21*Z<J["5?.C$[Q.(I!^L*7CZP,%;_O%].2#R`BD6-B;.9[
M2%IW45=^C'M@CPI#US'SVOY%(7(@WO7S[8J1&O(@(J@(#T')3HZF;5MJS59U
M1B<E^\AJ$/(1RDKK:UQ]3;MZ.>_VF0L=!C#ZUDKRC'*M8B;K,E/-+'+$B#S#
M<KU9B@H*7("`#R/'7F=1YG'/[7V'47D'OY72M:I4U&4R6V2^OM^A:%7*]77L
M7&/'\C/1#]^T6&0FUT(UFU;`P45445,`=A>WU'.#W#EI'R^LEMOVG`8P-MI9
M2.O(*L;IU"_C&3ZVQELU73H&SMJ\Q6(0S.7-(-Y$'*#QJ?Y=1!8`*(]HC@FC
MV%ED_P!Y$E6XS:3VYZ:FJS)ZWU.7;R%<;WBB6:4L%?\`OII"F8N4:[)RKFJS
MQG$JW$K-^F0_850PB''`A1K,Z-T-Y22^V+G=M;VW54YJ*ZTBM5F]+Q,Y.0ME
M;S-*N))DT++P[N#,515PW,P2(];G2*9!4PDY$>,$&I]E_O`QU;M]:AV/4$TE
M1V]YK^M4;PI<Z.SL$Y:+(K'HH2$#K)_+-;=+5*,/*)_,NFR:JY>@@D)>1`31
M[F4,%^\`=OKD@QM&H96IZS5WQ:_'$=KGM<6_8+;#K97_`++YO62L&TPA5GX1
M2_+I?M]M0.W@P!W#VI4CDJ&>?*N8:JYYEB5+;6"VX85[37U:\M]V;,\B?$EB
M;7$SJ[4&VFNV99C)NKE6+$38T+`5,5H8DM`L6B<M672[T#R#81-VJ-2@'=W=
M!Y>--U"+/+M;HIN>IDW"BC3ISKV&]]P>5.Q]?[=DM1Z]T*\VJYK.JB[>L$R6
M]P]5:I5PC]:*&!:??314SFR'4:G4;I^X(+B)2")>>0@T&A=D?O3:)5IB/0I=
M?JMO@8ZE5*_7F2G-HP%+F&L/>8L9R!84&K.V,E+WN6")25.?L^5;G.D)2*&'
M(JMZ)H]S*7='F;NVU:^\@!T9K%B,%KVHUR2;;+':<'`S+5U>Z6PLT,Y85MW!
MOQ.O&IO%"J%47X!PB//0.`D@J:7Y8;DUW4IF&-J67V7#:$BJ@GO^]VC:]?<6
MYM/6QE%S[TM<81M813MC:"@)@KM9R<[8`22]L.1Z@!D$QYV7E-38%A@-#-K!
MKVJ;-K&JX&R+[*C868MMHN7[+E@SH5\T$]2CX0"6`%%W1G1P(00Z_".`52?G
M)N6-=7<+=XZ1%?KFGKU7]>[7G$MHLY9[%2UNE(-&&DZK#,8`QK!"MF,^W^94
M56:F*J8..>H%`V;Y>;4WC0;MXIQ&J6$4ZCKSNUG6+NSDIPD(,C"+0\I)-6?O
M^P^]DA#,BJ*<`IW@42=.><`Y?\?_`"_VI2*U66VVZ\G+Z\NVX=_5.O;<>7IF
MXL#9[39&VV%LTE:R^B&8$BEV4,=NS,FJ82%+W&``$H#*=,U4IN\OUFO:6DE3
M@3K[\O@;&\?/WBS?<VY*5K1_5ZFTC]F1,_)U9W4+I(6>=JSN$9H2C6N;$8.*
MM&1K>5G(AR5<JT>Y7:,S%%%8X*F*`RVMQS#DO,M-)7[S_I0Q?3WLR?RM\WK%
MX\VB;AXVMZO-%56D,[S)2&P]B/JY-6],!E#RU;UO48*O6*;?S4>W9$$5)$&C
M<3F`I>X!$Q>304LMYY33>B^2MZB-8DD&NCJKIZT5EBYE54%[>7:58A9M6-G3
M-&C@]=>Q3R9!%+L34!<$^X0`!'@#6V]M\[XV0U^9I%2BZ[I:K^4VH-8NK]%W
M)8FR'[^!V)7PN$E^S9HQ"+95!5\Y^[!1,J=\Z(F*@$[#%P"BT3NS;EM\F:%6
M8,%F^L$YCR\:71C:+_.S<LZE]9;4A*T651C7K'N491L),MTXUFF*:;$%3=#<
M!P!G/D7Y([5T3Y&7.:E6M?E-/5'QE0L+"M-K#(L9N>LL]L!E5H^2!@HQ.P;J
M%L<@W;NUC*@9E'%]SM/W8!T7K/=&V5=G+:>W;6*#"6USKI3:D3,:WGI";@!K
MS67)`RL3(-IQLSDPE8V1<$,FLD4R#DI1XX`><`U#;O*[=\?([YMU7HFK5]1>
M.EU<4RV$G;1--=A6@L6E%.;#8(,B+(U;ADHIM*$,@V?*%^<.!B]Y``!$#4^K
MO(?<M-BMDWEVPJ=VTK_ZH;+5R'DYV5_;Z&BK/:HV.B&\8BLBE!+1\3(/T3&:
M^[W^V)@3[A'`,$H7E)O[6^H&XS%HU5*V&:V=OXX3%JCMH6VPI,Z=L"7C&L0U
MHE(AIF>=MS"T,B9<J@(M"$#@##S@%QE_-G9I:15]XUZBU$EXG=(H2SBN6F=L
MK"$:KMMULZ+.*O6"!T4F+`JC_O*Y$IUDN"DZ]PX!V[H'<.V['L?;&I=T1VOA
MLNOT*C8(B?UN>:2@Y6N7@CT(II(,)X5)!G(L'#02J+E,**Q?B(`=>`./MB^;
M'D)66NR;BA':Y_91#R+D?&S7,3!U*ZW*X,9J,ERE=7"R-8201<3S0T.`^W%L
MFI7*JYBB4_`&`>X:K2Z.7FZM5M/"G2_X%5W1ZG71\G2OANIUKT+^*+(S\Y]^
M+::76FB5RE;60V(:D-)^U:CVY'#9X9>NIS;"S5309TU=D2\\03]KJ)34X2+\
M7>`99^;Y+C]'T[OGF4?^N\YS\QU,0F/W@'DS(:FU]>*_`15:3<3&T(+8=QD-
M0["NJ47(Z^F48N+7EM30$RVV%KZNV-J=1VX?OB+A'))"!R"8Q<?G.2;88=9'
M_KO.:TXW4V:OY8^4]UK^Q-EZFL>@%-?:-UI3KA<VK].Q2H;)L,I27-TL<=4Y
M]RM!_LI7@8^V$<[<D<JG4#L43[A,4*I:BQJI._IE2R\EU8&JWI;^CAZ?4MN\
ML_?BNX@BO,?R/G+3<[>PD=8,M.4';^B*'+52PPDFQNTC";JJ])>&5)=D9A.%
MB92!GK@7V/>8]CU`O8``;C.3LI*UYC[IDO(NGP$C/Q=HU9=-KS>J4HR'T]>(
MVH13)L\GF#6<:;JG#QT3<;*F:`6([8-&I"-7`'3`YO;[C`:*HVR]VZ^\8]95
MVS66MVC5/D''^2.H*W689C(-;9K@8^-VQ*PUKD[8ZEW;NQ)(FKX!()]B1FJ"
MH'*<..,"C,L>^9'DQ&KM8O3E/FK!7=/:ITF5W`,M9DOT7:YFR:YBKB[0LUX+
M>:TXHR1HLAFC-VNBO[BX`H;D!X$#[FP;]S)1D<]=H?*.7<<S=+M?@Y07<-TE
MED1]M9R0!05.*8\*&Y$OK@%XP!@#`&`,`8!*7_LC_9^4,`H2*G3`0+QP(\]0
MYP"R.C&"QPYP#J#&;'TZ<B=A_+@&3H*&4*(FXY`>.@<?1@$TY`.42FYX'CT_
M!@%M*B0K]<@<\'9(''D>O*;A<2\?CP!$_P"!:?HG_K#@%TP!@#`&`,`8`P!@
M#`(#J%3`!-SP(\=`YP"5\RG_`-;\7_3@&O\`::2TEKN\L&+%:1>O:9;6C1FD
MBHN=PX<5R3321312`YU5USB":8`41$QP`/7`/B3H#55O>Q_BFQH>L/(NA;3U
MK21K&R+=O-*53UA6JDYUP[KTPZK<7991PQ&QSTRQBTF2D>W;G312.<XD,7@P
M$^$U%<7-/UI"47Q$G8>_Z=U5NZO[UD;*S0K\7M^;?TZ7IYZ.UM,>Z93&R&VP
M[+)&GB/FIB+-`;I@"B7O&`^#75^BG3^ANT;2XN)T6'ZFND](W6ZVFU.ZEI/8
MK*D670?[#RD;/:1UYJMA)V)/8>OK%^R9(2KN4Y9V>OQJ*Q223\!374*(BJH(
MF4SS:;CT*I?NHO>;_P#*;0LLP-Y)U.M^)JNV$]K:SU]#:%DZQ#5Y>%UX_K)%
MHA:O.3R*T>K4%822,I.IJMQ5([7-P82B4HY+71GD<*6'[EAGV?-'7ODLDXK>
M@=+62>3DPBM;[.\=+3LD`:+NWH5VO3+&+L+F0;)]ZXM&#A0'"Q@$0*0@F'H&
M>W9_T8?Y4>1>_P!:7^9FOYF7VMH[<OD/<ZYHN][HK^_8+75BI<Y07%5DH[]J
M(*G_`+&DC+&E)S4:HVC52BD]!=+WO^%`#`!C")0M*S7VN/%*V49:B0]IUW&V
M%M4/#?8]/5E4V4=)M&^QKA;U+<>E,P6[$71V_NBFF<4B)F4)\/T&P7:?"_'K
M,%M.C]S,Z)4E2:16LKNK:V\8&R4!%I0:LL%AH-YD96QL8G[[?-DFSN-@7H'*
M0@I(G,40,8#`',T9[2G#'%&,F\8=\K;1F(@E:WT#24W\7;[2T0]JU+6M<0E?
MEI$LNE*N'J\&^V`_O=?8F&.&.3<`V,0!`JQ"^G@W(R=R5$_W/XG#NVUBY*AE
M>N]#[WB]F>)D*IXS0M.B_'&Y;!=7;<#&R5P["Q0ML@+$R;/ZNB+P+/,/960F
M2.)$'B*?M+"I[9S```/H:%-6Y5^[]#S=9*,KB<77#VZCI?S$UY>[?9J?)K^/
M\'Y':@AZ_+NY"MQ,LUINW*C>47K<86QTRR*RL,Z*W=18*HK)%<)>V)N\`4`1
M(-NK_P!!^[XE>F=+RQIG\#D!MX_^4E?"L21=:I6Q[(Z^WC3*A#W:W5J^O]41
M5RDZO,4&#V+/6%$ZMI!PVBW"8&%-P#)V;M[CE'O#QZ-'K*49+/+W9?$L_P#Z
M</+"PO-NREBUW;#-I[QSBZ#7&U[V7K9W9)NYUF^1EI&+AZ_2HR-K,!#/D&8H
M,G"@KJ^V/Q`F(=V'%IT:Q"N0:XDU0JKQXL>35ZN6P6IM=W]*`VE<:=?`.CY`
M5RJT6HE5+536*JWJO0\.^LTJI4"5XX,7<:X*=V11,AA3]L1!PR>S(AW(*F.>
M72;9KF@=_P!0\DPLT-%/J5K2$VS*[!L-I?;!A;9JRW:\GX9PK-.Z_0;(P=VJ
MA[#:OR`NY<,7*#8Z2'<I[HF*7->CC2_T4?O,VJG&5G#.JJMW6=*>*[^VOZV]
MV#`5IO+T;=V^-G[!$TI,)0[FE4)X[49UV7C8L[!(\NO9)6(^?,DK['8D[$X'
M-\(#ZIYAWO\`,I_];\7_`$X!A][C75BI]L@X[V_GIFL6.)9`N<4D1=RD,Y8M
M054*504TA<*AW&X'@.O`X!Q`'CKLM/0_A+0E4(5O8-&7'2\[L`5);M8LH^A0
M4DRG31SPK8?GUA<N2`W)VD%7GD>W@<R:W_27^;]&#5\IX[^0E&VI;=_:WA*)
M:)\V\]M7*,U]8;(Y@B6B@;'IM#JQ'/[11[63-!V5JM555"F*W6[&P$+R81$"
M^9MJR37-O\*/(!"M4N4K<'KZ6OCBP[7M3Z9JVPKEI^3U9/;&LBECC5JQ*,&D
MQ%62G1!1(5W!OXT[=ZY`ZG`"J)B*$T+/<?`K=4I9W:2R-)VBRV7#:Y-L.\6+
M:&Q->(5^TUJ*9P=O<C2M<O&#&Z0\TTCTU&K%<[5$JIA`2@4.!];2_P"@O?\`
M$Y.Y/*C05HVWJ^F4FI0&NK*C5)>#>JUZYN+/6C&1AF";!!>F["J:YK70)5L1
M/E%XB5PXX^`QA*(Y7K4W"-/N++>CT6M;AK72$55=>7P.8HGQ,\KH6'U\=#8E
M4?6F(C=T5QR_L4_8["_UQ7MEP,/'5XM:MTE!J6'8$A67<(4PJRH(BJ5RISW%
M*!1\R4KEJ+NV_P#4BFTJ[5D7KD7),U)TWI9[^KWFI(W]W]Y+21[B]L3[5["4
MLFD+9JET]'9VWKW(S4U)_<1X>UO']Q;*LX%J1Q'+'&/C6B"#4Q@[>\!X+C7/
M^>/^5UZR'R3D2Q;;]WS.L]G>)>Q[?=GNP82P4]*7K])T\>B,9D90(U]LC5LS
M-OG1K<=D@61&L6*.D"-Q.BH+AN)CG(7N`!'Z+27KVHTT+]]4O257UU:_0S2M
M6K#\JQ_HQR]NLUC*>)WE%9F.P9NUVO5B]BV-M*H7&?I-5E-B5*I2--A:>-;>
MTV1N<.LUO23MI)"5\W?-54CN!2*FL7M`..KVOUN@I+1JKE@_=D66M#HM;5:U
MT4<L*YY_`RWQ]\,=B:KM-#F+%-T`T15[INJTNX>GDN'MBUV=7*W"1+!FM;I.
M7=J+1IH98SQ==4RCH5>\PB(\!7#G7-K\E9OQ_I2P?4R9<HY193N6*^='%8+-
M>\H:WXB;XJ,_J:F1U]U8CI+4&S+W?ZJF,5:9':4XWNC6W)I1<NZ>+E@&;NJ.
M+D?V7"!A%XDV3(<"\!QK*3(O&7PUO^E-CO[J_L%#I\(I5IJO2-&U2E;6=3V+
M+R*P'8W:WTV<E7=2ITW%D*)O;KJ+8'2JIC.#J"!<`SN[^)#^_._+]O.V*&6K
M_DLSUJUA(\T:LY-6U:%7$&*QYTCHYTI9G)3+1(?;)VJ)MR#V'*)N``TK$>`=
MC582LC*!HRBW".5H<I2E=/4>2C8Y2Q4"U,[FTE+@^L:[NP2L=*2C=0BD<1T#
M9!-7N3^(I<`ME>T3NW85Y\A!L\]5F>WXC:6A-JU2SMZO;(_6+J1I]6."M<CR
M23T9E_#/.U9L]6254!/N)VEY'@`-HG\/-EV.8A[)>=IUMW.-]F;/O\NXKM5<
M1;=TWV+I5KJY&,9-W+]R**L`\1*L1503F520*)A[CB``7'9/A2ZNK#2;M@MJ
MVP6+56LD]8/1VO2G]N@WS``@5?OF+9,):),VF&[Z,46`5O=16*)4S$`!$P`;
MSKWCH:%\=GFAE+#&B9]1YRKJV&#JD55X]J_GDUP</H^HQ`$A631NLX$4TT^T
MYB``'.81$V`8#&^+5T5K.QH^R;"BU9[8.F*[I]60@(9S'L8M.JLIIG$V9NU=
M.W)AE#$DB>X4O8G\'(!R'(@<\W/]W/:[;/22[G:M-D&$G9*;:E;?:-8-++MY
MB_J*T0LG%5^X24HLSK5?=_=/;[#)JD)?=,81,.>'*V^)NJS9ZL=5!12I*M$=
MSZ=U=;-:S.U!?V:(EJG<[_+7>HPC"%^[7M6_:$45)2.D9`5EAF/960`4C\$`
M2#V]I>.1]+1JEI_YO`PZB?F33VJ-.O/$XGMG[L2JV)[=%E-AR[2.MN^Z[MMN
MS;LO9_9RGPP2SF2U3&'0<)G/7[).6%X^<F,(<+&`.T0RKF6F]7I796'U)]A?
MR[5>CU*OTK]+7:9+>?W?Y;7LVRW:NVRE5J!O=D@;/:FSW4%*LFP(M_`%CVX(
MTG8,PT<JQC*49QB)5$73-RFB8#"0.3F'/!7(F\:T1[7YYQ24E6:6>QX8MKKV
M=E#8?F-K#8^QH+1M?U6XD(R7A]V5"SJ6B/8,)9*LL(:"F2*2\G'2"C9H_BA7
M[6[E,1`?:<\E`1#MSZT^7,`=>`WWRT*]G]Q3TA<YY7=DM?+JRKT='2M@G-U4
M4M$<J1?RSPB<%'TYDB0S!$@&`?;`!$.<\O5I>?[D>[R[FCT>F\FB?U-Y[_<:
MTB_W7*S"#M$&;<S<L?8]/2FES0]?U93:1"IUY]*PLP$J[0KA"O)>SKNXU3YE
M^\7775]SGD.1SK1JEUNO\K^*..8\T>ML*SPT2DGGT-?J=V5/0;:H[JL6YVLV
ML_>SNGZ!J((-P@FDV1:4.2L,D2=5>%!15=[,_>Z2*J?:!4TT`X$PYZ+P3?0>
M,LSBN]_NTG5PO=ML[;<XQ4-9ML06YS,#:LU[+VU2W0TO$301<ILZ78.[@M42
M*PJ:+=HV,V50*)1!7M()#>)PUK5XGT\>?<*24*)*E*[%EAEX&Z@\&*Z:LPU9
M=W"7DV$1Y42GE$HDY0;)$DY62EY.2-47*:1?:+#))3"Z13"!C&+QW<B(YZFE
M5+"77\3PM=J/5ZF5^E*I=R2+#KWP7EZ!LC3MOD-^7*V5#03&V1NI=>.ZK2HN
M-KL?9X)*N@PD)MG&GF9S[MB&J3=!54Q1(D`EX^G-!D+=N3QVVIMCR?L%GKVR
MKOIRG2.A(/7[JV4W]F'I[5()VNS2<Q55(V<;/5&:[6$FR*H/A`HIK<B0HB0.
M:[T/,LSM_=%KM199GY=Z%S[9)]CJ2IG]WO`M'R(:AVO;-(0+ZG4^@7.'JE>J
M4VYN%;HC51C77*DY9HU[*5VSH,7*R!GT>9+]6H/!,^5_![FTCZ5<]E2LHQE/
M/.F+]V266WXFTE/$6"2K&^:W'7.RMB;VCJI'23Q<L8]>0(52LL*L@Z:K/&BQ
M7[V3CVQS.3JE[3'./P\#T^DT5GT^DA9^U?JV>!K;WJ-5._\`<Z]R,.N?@^UL
M-HL$E7-O7^ATV^A6%=KZ_KGW*:/V2_J:;%@PD7,S)L74K77$E%LBIOR-#>RN
M4I"`4H%YS493-T/$"E(1EOB"6&>38VW;%:VV=JD5@#*,EZDK7CQ$:U;&;#WL
M/:@2@<!'D3&$?IP"Z3/B33K$PW2T/8K0U'=UXK%]LH$=,C(1TC5UJ^HPCXI'
MY,`28F+6T>_GJ(_9@&5;[\=F6\&.OEOVWM6O[/K&[1U]JULK!F"LDVE6;;Y%
MVDZ:OFYX]\C(,A$IP43$H"//;@&LH/PHUG$5/6E,=3%IL$)K79=JVFR2F'3`
MSF9LUR0LK6:4FUFS-)-TQ.C9USD;D*F`*@41'X>,`F:=\.(75-W@;2IMS;]]
MC*6SDXS6U)N5@C5:Q18Z9;-&C]JDVAHF)//BV:,4T6BCXRZB"9>IC&^+`+7N
MSP5K&[KU:;V]V3M"B*[$I\52=EP-#L$=',+K!P2$TG#M74D\A'DS!BR4DRG!
M:,6:KG`#)G$R9A*(&!V7]VUK>SG79O=E;C8UF6JFLZS=*A#7)K&06Q'.HV[%
MM3K!<TT(0%E)-!LR!NLDP%HR72$3*I'4$#!WP-GJ6]1%1BFLEG\:>V)EMH\`
MJ)9[T>WI[$VM$U]ULJJ;DD=71-L^[M>N]J5>3@WI;B+!LQ)(@YDT8<@.6WO_
M`"BQR@8R?<(CD2C0R:FZ[LDWL1ET)X5TRL7>H[!JUTV#6[%4+ELZW)KQ\S&B
MC84=Q6&)L]^JUDCU8<T:YK[^4@FYD`03062$.X3F$H<\F8R'</B+K;>5E+9K
MNM:0^\->S.L+/7HN?3;0%DJTL_;3C,DJ@K'++DD:M/LR.HQRS.U606^+D>`#
M`+AI+Q9IVE)^<MS.P[!O-UGH-C6UKKLRZO;M/1E98+@Y;5*!</6C8T976SH@
M+%2^,QE>3&$1ZB!C=P\)=0W/8,Y>9%Q=6[2VO6DW>J-&W.3C]>WVQ1JT>M&S
M-MJ#9(C25?-1BFQ!4%4HG32(00X*&`66%\%=+QM\7NYGE^D?G+[(;2>T>5O$
MP_ULML-^Z1D?VH2J)_::H2$?(M$56Y@/P04P'C`+*^_=XZ96D7CZ+L6VJN+^
M?N-@4_9'9D]`F;%V"Y2D;S6V_M`N;]F+3+@H[6;=P`FLLH)?SN@&0,/`GQ_C
MJM%TAG7YAO5(6I.*+&Q*UGDY04:RYO+/9#AFD^DO>>H'6M;),XF`X_JP$/IZ
M`="0VIJK7=AVC9D+&BVM%QA*[7IIV=XH=H,36EE#QK1I'^W[3<B";A3\T0Y,
M/T<C@&HY[Q-TO+U&Z:[=5QRI7[[=I/94VJG.S#*9C;LZ5%XUGZG*LW)'-<D6
M$@!#I*HB`D`3>O/`@8*'@/X^!58RN`QO1)&(N"M\2OR6S;N3:,C9GD86*EWD
MGL/[V_:%=*:C0^372]WVP:@!2@4.@1+]KZA6F.XMQOW=_BTA5(JG1%2M$!%Q
M$E9I)N\@=EWJ'L2W[9J'5M3!Y9&<X$N^B9]8X&=-%E#(+"4.X.0#/"5*Y.AK
M?.L,XU]Y<)_]W[XL6%U5#N];&;QU6A8"OE@H.U6N#KUAA*HLHXKT/=8"-EVT
M?>FK!PJ)DADRK"D``0OP]`];2_Z"]_Q,T[_J9.]6M?T-IR/BSI*187>.?4*.
M7C-D7*J;`MC)PHN5)[:Z.O$K55Z@W0.0C-*'&&1]I,INT`#CC-!R80S\'/&A
MI>&&Q2ZY$]IBK4M>84ZENNB\+!6UT+_YV>@JVM/?L_%2DB:47,Y52;`"_N&[
MRF$QA$2I<#4]SKV%PJ'A-XST&4F9BN:PCVSN?@;167J+N8GY>-;PUU6,K;&T
M7$RLJ\AX16<$X_,*LFS=90@]ACB3IG63Q1IESA-*LDG6OR\2OG_#/QXN,G7)
M:Q:NAGBE<A(6N-2(S5H8-9"&J8HIU)A88N,EV$7:F<(@4P(IR:3OVC`4`$2]
M,Y,\[JOR=Y92.I6C5%DDDT:MT6S1NW00;HH`":2"3<@(I-TD"E`B:221``O`
M^G3CI@Y*O`&`,`8`P!@$I?\`LC_9^4,`E-?S#?I?D#`+`N51.S0X)$[4#M)T
MRXB8G4PG8B40*!A,(";C`,IP!@%!_P"8J?\`()_[];`)43_@6GZ)_P"L.`73
M`&`,`8`P!@#`&`,`@.0AP`#^@#R'7CK@$KV$?_8W_3@$(MT!$O7@2\F`.XH\
M\<<C\0"(`'/7CCUP"$6[4RG<8P"81.8">YV@)CD[5#=I1*)Q.3U[N>@8!#\H
MS$3!R`E*0K4R7N?`4@A_9'(`AW"?OYX/R(B/X<KN6H7:<=<#J,Y0_:6H[)F*
MQP#M,'?\:("EV*&2!N*)E2D*"@F;`V()``P`7Z0'D,J])9W/M+//N5JGB35$
MFZQ3$6(DLFN4J9B*"4Y%2\<D*`"(\\^H<=1'KCTEC<^T+475DZ4(9.%B)R">
M0<PT;R\1+1SB/D(U\!'+22CG:)D'35RCP!%FRJ*@@)0#C@<T1BHQ45DBIMR=
M7FRFB8V-@(F-@H5NA%Q$4S;QT4P9]B:#)DR3!!JU:@;O$J35!'VRAR/:0O'T
M9)!<AX,(@`%`QNA@(`%$QB@4Q>2EX^-(H@)1]0#CZ,$QDXOB693F21[O<4$#
M"!?;,=4Y1`P`;NX.8W3DIPY^@0')JR[U-U*BHET*A;IV9BZ]"O[%-/6T?"P+
M-S+2<FZ-PW9QS),RK]XJ8H<&!%N0YAZ#\0>F2M!IYNK3<WT[7B1YUQ5QS1%#
MR<9.Q;&9C7C=\PF&;648/6JRJ8NXV02*O&N3=ATCA\PV,4Q>@<@.1*Q;T[X+
M::WUQQVTZ"N4W.E=A=0$3B4Y%3"4I>.4U"F`Y0`0#O5`#*'`O'\[U#K].<3@
MKD>&61";BZK,L4Q/P$(K$(3,RVBE[`^2AH/YI<Y59>37[G"+%DKW\KK&214^
M'G@0$.OIE'I+.Y]K+5?N+#"FZBH7CVDQ`Q@%4@=J8]WO'`Z12IF2(/?W"*8]
MAAY'GJ;KZACTEGI[1Y]SHIU;\3#]@7RK:NJ,[=KO*K055K;5I(34PX]\S2.8
MK/F\<*AE$Q,O[@K.BB(=>G4/JQZ2ST]K'G3K7"O4C)2?=DC'"(`55M)(B0R;
MHQW+=^T>)<"F*+DQRJ)N$#<"7@`$!$.,LM:>U;GQ13KUG%W60MPXM5C:JEA1
M.NS(Q>P6BHT1I&JV&<C:[&2$S`U6-%5N@DR=S,\\1AH"`13;HF,#E9<2)H)E
M*!"D#XA``$<T-16:I[S*^:\J6'U5ZW@_@3:-L&J;&C9>6J$B>4CH6T6>GR#L
MZ)FP-K#399:"L3`2G*7W"LI)L<ON!R0>!#GIG!>9>8W!N`5('0O3X3?G")0Y
M'N_UC!P'X>F5RL:RX^*S**M]*KEF5RUNAL/R[]?,Z.G(]`2E*)3"GV@(B/:5
M,/;-T`[A0RG=_8)B)AYZ\=/ISAZ34-?^3)2M]"ICU]HCK-'?EY>GXO,6+KN]
MJ&F(/?6L+'+TJ-@K.SD5MB%M84A9A&N549H*0(EM"I9`$RHM_DU2F(<!X`#%
M$.<Y]):>"3KU[2SBIB\D;C.L'057"(@*@`3W02$H*@`_"GWCP!^WZ`Z\95^)
MU?WI^XJ_)\MS?$4<W+L:W7IBQ2RR24;$,7DH^7]CN(BRCVZCETNJDBF958R*
M2)A`I0$X\`!>H@&:K5J=B"M3=9+]<2R-VU?7FV:^6\J]&'Q-+Z4\BJ#O&-&3
MK3>\Q+((AG.HO+I3):G)O8V3=.&[!RU5DFR+5<BXMS"D4AA.=+@XADSA&:I+
M(XN6XW4E)M4W.AO$9:&*W.["1;&9)$%121%\B#)-,HB!E57/>"":9#%$!$3`
M'PCG'IXO"VOZFS;CLPVX["KTMO?/_F93J3]<(@5TO88E-H8GND=FD6Q&ID^.
M15!R=4$#)=O7N`W''TY9Z#G-*TC_`/ZP]#9EFYT_S,G+3$(Q2;KNY1DW;NS$
M^2=KO&J**W<')#)'64*18!X[@X[N2]>!#.E"[;^B]3S5G14[MA?""MQ4(UX5
MO=7VF',-FU^2FKE!K+2$.>D/HMI)R\Q'EC*Z]--12$NT^XYE=8&TDBBT5#W#
M#V&*8WIP(#G49..1Q<M1NTXJX;G0MSS;-/97FBT`SUU)36R&UG>UA[$M#/H,
M4:>@BYF$W\H@J=N@Z]I8.TO4/I]!Y'IW9-<.%"J.DM1FIISJG7]SIV&=R,Y$
MPQVQI*6A(L[@YTF@RSUNU.NJ7M[TFGO*IF45#D.XI>3>F5FHU]%;JUS.W>^4
M!G:(TUBUPQKDG<15=-&T9$(61,58Q([U98H$7=)AR;O#M3Y`!'D>H%!9]\ZM
MK(Z^^>N$*)-GWAMKRGK1DG'RR$E:5V$A)@Q.Z;JF:(-RL8]110_?W$`"].!P
M#8C:X5A66&"2G85>?0;%=NH5O,QZLFBU]@K@SHT>!Q=@7V%"J"42_"F8##TX
M'`+6?:FN&Z\@5UL"FH'BS)J2*1[)&E59D6[2)E=$<.NYKWG.7@`[0$!_#@$R
M4V'1((L0:=N56BS6-8R<#]Y66%9#,<`)RJ1?<J5-XDJ7@>2B;M`P8!(DMIT*
M`EVT!*W6H14\\4;HHP$C9HIL_.H[)[C0Z22BA5SE<)!R3X?C#TYXP#6]9\JM
M1V*:VC!FMU>B%]269E5;/(3-CK<=#+23]HFY;GBWSB6(*S03J%0$RA2'^:-[
M8%YP#>$'86=AC6TS#R<;+1<@3YA@^BEF[MFLW#DHF([;.GC=R`'*/QD,!?P=
M,`P!CNW54O,S-;A=HZ_E[%6TSN9Z$CK-`OY:+:I%.=PO),&TL"S9%LF0QCG#
MHF!1$_``.4>FM-UHZ]9UQLL3CR@T"QAQGW&Y=9(1`385PCQS=:TV9N9T4VZA
MH])\I*BA[R"3E,ZA0[NPARB(\&#+(0C;7#'(AMO,V-,WZJQ5-D+RYL$8>JQ3
M!W+OITKMI]UI1K%JN[<.?GA73;'0*FCQWD,?J(=/7+8RX74SZCS/+_I?NJ<D
M^//G3K;<]"@KK/R=.UB%WL,E&:[@9G9-)FIRW1:#LS-A+((Q$C[;-5X=(YC-
MSARB3L$YN3@&.*N+H8$]?DUW&_X??FEK8]G(6O;:UY./ZVU<2$]'PMHAW3N,
MC6!>9"1?HMY0ADV#'U763$Z*8<]XAG)ZQ7T'<^HML*22&K]GT:]+0Q`"20JE
MBBID\80IO:346:,EE5P065^$#\B03=`$1RB>GM7)<<J\76<N";JZ]I:[]Y":
M@U3,0]=V-M.B4RQS[<'49%3L\R;*+MC@=))Z*"IT7#:+6=`"97"QB$,J(%#U
MZ=0LPMOBCF30TC4?,Z/OOE5>?'"I5Z*E(K7<#$2-MOYKI!MUVDS.Q;>1CZY!
MT],CN1L3A-)?N7627!,G7@!#+7C@2;;M_E#H'7UL>4.Z;CH5;N<<,<E(U^>G
M4(UXP&4:J/(MR]2%+_@V\HV1,=,ZAP3$P`4!Y$,H]-9W,BG66];S"\:&E*G]
M@K[KH1:G5)="OSTL28`[9C.O3"FQBUDA0^=%V\/U1*0AA4)\0<EZY;&,81X8
MY$FG;5^\$T/%2VB6==N4+>HG>FQYS7L/.1$@BT90KJMLE%Y1U)$=-BKD`'QD
MV_8($,4I_<_-`1SH&R8'RW\>+--34/7=N4Z0FJRWD5+`R*Y=$%9K$-3OI9U%
MNR-"LYYK#($4%0[?W!+[1OJR5F<SKPNF=&8%$^;FJ;3:HA.IW6E2&MG-4N,[
M)7N0DI.*$']4^XUSD@&#J%*$Y7Q:R9_?<D-[A%.`*`YWYCV'E?\`G;*]A9[M
MYYZQ)K2>O>GY&.V1(5VYT.I2U;<DDZ]*L&]UN456"V,64HT9O%X4J$@)V:H)
M]KE7M`1`!SB3JZGI6>/REQ_OVG3&V=TZ_P!+U9.X;%L;2HP(OXZ)&2?H.GB*
ML[+<#&P"+:/1=R+AV^,/8G["*IA,`]/K@KU,K\4O(SVX5-(UGSL\:;9+PD##
M;1;N9>PS`UYJS-5K<V"+LG>F1&M3SM[7&B%>F')E2>VU?$3<G(H4Q>0,4<G`
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MMUM57U%Y5X999FDSN%J;+PA5:_2G8.?=))N`*B=`1.'`!TZX;"C@UQ46WKKL
MZCM7M?EL_P`J\3,I?S9T=`WQ/6+VT3J<X23C:[(VM.C69_K:$LTX1(\3`V#8
MC2)3ID;,N?=3(")G:8$463`_'.1P6&ZMIJN5:=>_OQ(E<U[2WTW$,%YQZ2LE
MY<:ZBY>SC94;%8:8F#^AV=A#/;M56+Y]-TJ,M1XU2NS%H309'.DV:JJ`<I!^
M(1RNY;LQ@W%IRZ^E;*==<2RS/5.:5Q?1U=#Z=]#+_%7R*)Y+ZC8;.0@)6LG<
M34]$.(R5A9B(`AHJ2<MD3M!FFK560)\LF4%54@%$JX'(`\E$`RFPZ0^95'T,
M40^L``0'[!#UP#1_D3N%[IC4]GND8U9R5F329PM)AWJ;E5">O%A?(1%6@U$8
M_P#XT4W\HZ(!S$XX(`CR'`YIT\+$G_6=$GW4\3)J):J,OZ"^FF[::2B/,:$K
M^DJ;L[:$7+Q5FEKHGJ2P4^LUN4GI5CMEN\EHQ]7F<8S(N]=H.7T>`(]@"8P&
M``'DW3J_#3Q3=I[<,:[OACCU'-B6K<TKR^FF[:=#Z8WG2=Y5U]8:<><;%AY5
MY!6"&M<!(52T5N?CRHJ/H&Q5Z620>Q,FV2<I*"0X#RDJ0W(\CQD-II);S>UH
MWV?$:O=U[:T6M.;`5UA$7V6UK+,-8RMY2;JK!`,+8Y63(Y5<%2-[!B)"58P<
M%-QFU6]/2LFLLJX_"E>X\[CUU:)8=7S+G#^9VJ).GT^]+.Y>/KUUO-QU_&N'
MD6+<T9-TG[R^^"3Y%%0,R`@1"QBB43`8G`\>O!VM/6D9*E%CCTX(CS-?2K6/
M4CE*6_>!2-IV*QBJ;!7&@TAWHO<.V4[5LO62C5"QQ=)1AS5VST`3R2`SD.[,
MHN)VZQBK*@JGP7@.<NC:T"7UNLO\S.7<YCN78C=_C7Y86#=^PMPTZ1HEKBH3
M6[NH-HFX/Z<-=C9EM/4:(LBKIR9:Q2RZ;V0=OS'9(E:)IG;_`.L/&<W+6BX:
M0>/7[?$<?,,FE3J,>MOFBWUK>[W3I:L7K:,PVVU$:SIU/UK362]D^\G6OVEU
M<,5OFK`DB]*=$Z@^^<2=@#]092]#RQQ5&TZ?<WCV(S>GU.355[D0K?O"*:YK
M=#<T_5&XK[>[JVO#I_J^JUR*5NU#1UQ(*0]R<6EC*S<:T;MXJ91.U`R3AP=5
MP7M(0WIG4-/H[?TJ7]-=+JS1!ZVU!1@L.HQ6"\ZCK;TD8>4C+(.N+36_'..U
M_`N*LJQNT->]U3EYAW(7!%VLD+9HP<U=,JJ0<F03[CE`2B.=^5HW%?4N.N.+
MHU^F'6=\>OKE]/4C:\_YK0;"QV^EU76.RMB7FG[8>:G7IM49UTTM+/(NKL+;
M/VB(3E)J,%6LP48_1)[JITC+.5RIAP'QA"M:7!\22[^K=X4R=0YZUQ<6L7AD
MCGW77G]8$]24ZQV2A6:X[%V'>-RN(ZE<U'6\M7M?Z^O$Y7`6L9[180KL=+QZ
M,>1N1--VL=\Z*/0.[G+';T3;X9?33:V\=_R[S$M)J$J-2S-DRO[QFHE+2!H6
MN;YL=A8Z-'WJ8<P3NE,9*!BY&==U@[*-AI6>1=7RQQ4Y'N"/VD0"GR"2?OJ\
MI"&<*UI75\26.]OPIW]9J@]9;@H06"6Y;^_N/H]'KKN4BK*E,0%DTUBI*$`B
MB(+$(J5$W:)BF%,AP`P@(_'R'H&9;JM*GE_QZ>CJW&RP[[;\[+87#*32,`8`
MP!@#`(3`!BB!O0?7KQ@%&R,81<%'T(J`%Z?1VA^/K@&//`(G98@Y4R`?Y.=$
MI^WXNX3L.[@>?4P>N`90@H90IA-U$#<>G'T!@$2QQ(F)B^O(?A]1P"U)JG,\
M='$0Y(U:$+T#T4<+@;^'I@$Z)_P+3]$_]8<`NF`,`8`P!@#`&`,`8!2NOS"_
MI?D'`*'`,.V#86E2H]NM+Z0"):5VLSTVYE!CE9<(Q&,C5W?WD,4W*9U*`Q73
M(<6Z8@*P=!P#XG5_R2W?&S,RR:;FLB+2X>,]EVHVEM^S&J6P05C9VFNQE?ML
M`PI2LDOKZM3K6=%JT2G$DP,J<A1(<0.(99ZNW;FX24JHTPTMR<%--49>6^]-
MOOZ9=M>,MN;2C]IP5]U4N\KMBF=-Q6QE:E<X"0?I0&N]Q,&DKK"?<V=_#=R!
MI$K==JBW$BJI!4+W=V;\+U5%-4WG%ZQ.S3BICN,PUIY9O3#J!2W;FM#&$/7?
M*6O[#?[-CZ16)8+GJT:K,Q!)*;@5!J<E+P!C&8I*L%#)2J(B(E+R`#>4F-:]
MW=L&]QU/MLQY!7>'@Z-X.TW=]D"J1,([3F[9(6V[0JEGLD:+%9R_@_NR%:`,
M4U.@8YR@I\P4A1`P&L@\I]K5IML^':[PMKU!YXPO[O#.KQ>]0V>ZPE@-,5Z.
M:WZ-K])40;TV(>PUG2<IQSM8QFRR7M&`W')LLM7;A)Q:E5.GMB#<-YV;LK4%
M@MNL)+R!OLG1Y>P^.Z\QLVP(0*MIJ%?W"K;VEZFHNP-XI"*BXAR[AVZC/O;D
M!D"BO!C<@.6VKT;R;C7`&%;;W+;:ZI4]9ZW\DK1>M=.+=L*%<;3?[1HNHI1*
M?K$7%2D/1'6Z9.O2D3:U8()%1U[C5`BDFF46QE/U`Y:#Z$^*E\O5V\7C6VZV
MAC9K3%,+JU)=*I*DM/WFC"?-)LEOGG\+"M9>8230!0RA&H-EU0`R9S%'G`/D
MQ";WL;N7E8LVZ+;883=.@-VS<['7G;-*VI(IN8:J+R-;?.:978!C6M6K-&9E
M#'A!?.GH*\$5*)BF,%BYOI8)0E&=8]"S6#V^R-<=%<DE*L:-=/@;'+M:4I=7
ME6WCWO\`V%MJO//'RI3^SI!2Y*;`'2,JQM-7C%WM:91[-!W3G\E`(OTTFRX&
M;QX("MV]G4>9:N&K?';3HL,<.G>RF[:E9?#(S&0V<PHS>Y'U?Y$["V5H*@73
MQKM#C9TC<!O2%<)(VF0)>8)Q??8^4^Y5X&025>)'`I4T3'`P%X#GDJ+1LR^4
M?=&PU;H3:UJ+K:A^>6IXN$M<7L60B:>P@I36#=1ZK$.&!$8IY4%I*/)VE2,H
MD#E8P&,`B8``[X\WK98]2:NJWD14G4B^B-1S*,Y<:W'.W/M7>D3D,XK9FKIB
MW*<DF6,>2:#Y(.0']6)@Y'I@'R*N$QN^T:*VUIS8=HV'/CXXZ8G+1LZR*.CN
M4K]8=Y3-1F*%!"!#F>S+2GUJ0>J-.Q+]0Z21*IV%$QB@;DW&&Q-%,O(NA:AN
M^RIVOAICQ_O,XTN-KN5A<5N-MEOL<9>KA!6"-%Q/P!%8XJ8/&L7_`,4U1**J
M0<8)5O377P:M-V>BC==F;1SZ_(VG=52'[0;;1O\`I'77E+XSS47,TS9F^K-5
MM?'E;6\CK8FKLZUA&VB59K,5`4D&!E%$XOO*)NWW1P=>@Y%2G!<[(_\`4=1U
M*K-JW/:=W;0IZ^K7:S>?.TJ(^:FL-H<5!77-@L>VBK0JE9337@&K!^+%H^"4
M5;$!9XH;A3@P&P<&JM,!=E;3*)J;(,]V*\U_OEAM2EPT?OY[:6TV[JKU0R5H
MG+9+R]&JSB-MS<[V`=LVB21R'*"7;W"!>7JN:6GP:24%96*JW6NW),Z6EY7>
M7'JXS=[H2:ILS:/J[X7:MKM.\8]9BUAYMM*[&U[7+/L-:P2UC?6"8MT[5FR4
MPZE%;#(R+Y@Y5>`)?:2.W(41`>SD!`'J.87FEK)1<$L*-Y^](X]-H+#<M)%Q
METI9>Y^V\^5GCSIC5NRUO&?5CRO3<DS@+KY8H[;K`S=Y@3Q"[A9TM"#)OG3B
M/ED4E62Y"E1:NT6BQ_UH&.''/56L8_N677L)HGA+]KSZMIKZPM;S*575;3<4
MZ9K3(FE7>KT:9V34]V6M%&?A-H7!I'JMT-;6ZN24C>5ZPZCT(]Q(++D6;M3"
M8_`]P\+6\[3XE.VI/IE_TG;T/(OLN=D?^H^SC:F25L\(%*9M%&7MKYSI=\PL
M1'<9.0,Q/R+:MBJQ.C&#(C.L_<<-DP]A5=598.`,8QC#G49WIKCU%'>>=,OT
M.7"Q;?!IDU965<_:I\IX?54_$:=UU26FO+DRBWFB_#DLU&QB5IBCF7/M"2?V
MN*.[<2"XH`1BV(5TB3VURD-U^'G)+K%B6HDXP:32KB9WY`:X+KI2\:ZA-:R0
M:EEO(&AFBHZ>B]EV75]68NM6.WDY+3%5ISYS9KM6I.80!M]V@L@S^<,=0W!E
M!PW.*XK>%Q9=>SO+WH+B@Y\4&DJYO)>XQ+0VCU;Y8=-:\O&L[1-:C0\A?(E5
M*$E*39J/4V6N5M=MH.OMAK4O+2$E'UMY+J&,S2=.U"$(7D@>YR7.?7\]^^W_
M`,TO^DPD=4H5=C*Q7DO*/3VS+G1X>M;*J&HV"5?O-E>52WQNS[*PKK!NDT!P
M6`?/:]*MT8F37#VD."F4%-,@&R5.]<^O4-.^\Z95!D-UJ=D;1VP"6C3UH;TZ
MS;1\?R/HS9E:NNUH&G,FVD0+.FL58I*J3_8SZ$E2?*JBHL9JFY,4IC=H9(,]
M\/Z;=H:Y:@<)4JY5FK0V[/(<8]28UH\IK.)ID]K2MF@A:5U0CU*GPLQ+11P:
MH?,*&2*8H"/=R``9G^\&UE)VG8]2M*-.M,Z5'5]@@8%PMK![N'7#V?DY!NHS
M@?NJNRC*VT>ZK&,46UA1!,J:8J"KR"9,`Y^O6N;#!66V3$SXK/6MSN5!\9I"
M<7::_N>UH&%)6RV5*_A)&A)A!789H9^TAU#1KU0`<E34]TW)2E.!1TS7=L86
M&:NUG\>]@OM?17F%X_7R#1#1Y8-$:W&:BLU;MMWK&IH==^E6ZG(2\DT053(F
M59$H"9R3GMP#,->:7V0QV12D9N"V^;9U>W99+Q=+5#:#I\/$6ZJ&L-VD$'4W
MN]^JX>3E3MM>ED8XT>D)7@-C(-CI$3;E/@&X]7>*-2;OO$8]LT)6#MVVM]P'
MV0Y?U5%U[,TZ<0H5LMM`XN!EW:CMV0&B;P7($3;F,0R?:!!`YZG-$;222@GV
MQ=9[*G*DOJ:0H%.;U/2E#W+;J@YC-BVY0(]]&W!)9G1?O2LO&!&+QL#8B8-$
M#'6`"X!LB4\9;-*U'R#D9G2<C9-@I:H\:HNB6.P-X:2N3J>I3=1*1"O3[986
MS"28IR(B]4:&*"8$40`!`H<YK^IA8=)*3=*X4ZMZ+[6GE>I1Q573'JJ4U^U-
M94+5Y%HIZ)V.U&0WSK_9E.N6O]:4NS>Y6I'73.NR#X(.>(I`[!C82?8*&DX<
M3>^GW?-$.14O>3BUK(7;BMJ,TWM:5/B=W-)*W!S<H-)['C\#NGQ)J&R*SXVK
MUNVT6NU.9^>NKFIUUE`HT]%[$2SJ1-!JV&K1\W)-Z]*R:;D%W+5L[520(IVD
MX,'&;#*?+:&TIO>5G*"/^2FQX=:IU7>T#8F377^MJ'KRJSMKH]FA(*%K#N-<
M?M[<HV6</TUE',BZ>(#[O)0`WPYA>OMIM<%S!TR7B;5H9R2I.WBJYOP-K[*\
M?+]4X/QCL3'6.Q)&K0&@6-+M5/TI2-3RUUK>QS*0CUG(RE?N4$\B'K">;(N&
M;E=!1)P4R2?NG[!Y+#YA;7\D^Q>)"T4VW'C@J/?G3.F&S:=]>-6I9S7GBA"Z
M_GJU--9E*K6MRXJ]FE(^S6%L>>>6%^UBY%\BW9P0RA4Y),OM-$TD$C\D[C``
M"-UG50O3X%&2=-M/$A6XV9*Y<:E!/^7&K]],-YQ5HSQ&O$9%45C;M=QU;EH'
MPGMVL$YV1C(14U<V38;TY,T*S62;NW\=(%CS(+)*I$,)R"/(!QUU5-+U6BV0
MDL=R\3F>%\/O(:Y0$3K)UK[:M-L&O=+W"F1MTMELU!'Z^6F'<0TCBU:J-:!6
M6=SFZM<I-LX=/#2KI,2@Y$QTE?[,?EE_=5AR<?2ZNO\`EA_UF^?]N2A;5UZO
M2.#W2F\^J%>O<=E^'&C-DPF\7NTKSK;;>OF4/J=Q2VLYL*]:H>GE'S^3:K_<
M4'6M8UJ+:J5V"!J9:/<O@!1$0(0K<.XYA]'2\XM:JSYWE7H1JU222>'5)^X\
M_5\LEI;WD*]9NSHO]-MK'K2I3;4O^Y=5[@KFYO(69I_CI$[NB/)'6-1I<'95
M+'6(=OK^3@JW/0+J%NK6S%>2Y:>9S)DD4U(U%3EP)P,@`]IAT/F%M?R3[%XF
M*=EPAQMIXTHO?[J8;&9OX=:$VAIC:6V#W&/^\(=]JKQFJT9<558A=6XS^M-?
MNX.W.')VJ8G3>(2;P$2&4["G32`WPX7,+;:7!/'H7B54J:@\A/%G:FQ[)YO.
MX?74-/GW%'^*D%KYU*F@FX2K77+QHM?$4WDDX35(SBFZ"BA04(7WA+^K`1XS
M>04>]-!;T;7W<MBU%K\'%?FKOXYS\.ZIDA28N\/X"IT^RU2Z&UV^M#"1K];N
MD8ZD$`3>O44SE2(82*`!2`/EZKFUC2WG8G"XYJF26-57#%'IZ;EOJ;4;GGV(
M<5<).2:IOI%I5V8X]II*F>,/E%56M0L5GT\[F)F#\M'^W7;!/:U;L]V>4NZZ
MH<:ZD;,]LCEFP0=V.#E%47<@B!4FRY2F*D501`!PW_[DTUB*EY-^=7E%1;72
M_J6!-SEGETX;]F=73Z>//WQ1/UWX;;^5M5(C+EJ^4:LM1538B$=>K/Y$O;)#
M6R1LD+,0+",HFMZ_#P["!3DFSE)1U]Y"V(@"AS=JGYHTV_[JTUR<;:TVJ3DT
MJN,*8NF/U[-I7'12C)2E*'"FJY^!N?9'BUY"?<7CTKJR)I4=9M4^)E_U.]/+
MNHU)G#;!LC"B,(I",8&2?1SE\LG`.P;/W+=1)NH=,Y@+R82^T^86EE";[/$W
M1AI7)J22QJMS5%BNCH-)H^)'E=:)*YS%@H4F@^LU8TW'-%ME[ZB]K6INKK_<
M]=M-B9@Y90</"P9E()F=9!M'E,V*/:D)NX.X7Y"W7]D^[Q,%[2J=QSMR@K;>
M&>&'5T'TV\H=8V7:E=UA%5UI&'?U_=^I=@2*4PL@0K6"ITXO)SQDU`]XAG;9
MNH4."")1,(<F`.N0^8VE_+/N\1:5O3-RO_5%X*G1MHZ8;F:=>^.NP7TINHXL
M*\@G>?)G6VVH,XO&R*CBGTMI3&\BZ,N4BI$)%<]>6%LG\0B!B=PDY$`C\E:R
MX9U]WB:(7]%.:@H.K>Y>)Q];/!?R&22A)BO4"JJVE9[MZ,2LM%VU/ZINM?\`
MV^O\S::Y+S\B@REH&[5!*.DP"4BW+,YCK)<)`8HB<>ES"W]ESN\30_1U:^G!
M5>'MV&;V_P`/_*QWLNKVFJ2\5'V\0U;^U&]*MM.;I3>52J<>T9VEM?M/-H"3
MIVP5W?RZB31P9%LY]M3GO3'D`QSY[I83=MPNU3QP5/\`ZB>'24R74UB7BV^,
M_EX@LM!5UA57]'8;:VM=DF5>W)/ZAM%U:;#?N9>!EYNU5JKRT_#_`+*OCD0?
MQ:3E9"0;>V)%TQ3[39K_`/<^ELT_HZB:?VJ.';-%-VYHK>-*M[EEVT[>TP^.
M\#/(Q>GZWJLH\HS9)C`>5%,M[^'OEE4=0L?OZ9CYR!L54DY>*D92RNZZXC@3
M.E**I*&(;GW3G'N"I?W):U7_`(]JQJ8SG@I24*+I;4V]FQ,X=_2)5<'3JCXE
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M'$C8Q@,`K\<";=9L:F$XRN23BFZJKW8;#/>O::<9*W!IM*CPWX]QMOQHH.]M
M;P:-*N[36I*K$3FRC,9:#E9]Y9747.6Q[8:4JV:+L20S$J+"44;R"/>/8J3N
M2,H4V;S&=?\`3Z``H?04.@%#Z```X```,`Y6W]X\N]_7O31+0[A7&G=>S<I=
M[-5EEYIK/6&[,XUS'TDZ"L:=NU-$0ZTBJ[/[BQ%".$4^TI@$>W%J+-^Y<4K<
MDH4WM8FJS=L0MM3C6Y7!T1S^Y\'K=7[XW2UI:*;!Z44W-JW>SRHS*=F>V=G>
MJ9[S6WJQT@59=FNRN34Y''MJF#Y=X43%X`><BQ8U-N[Q7))PH]K\$=WKVGG9
MX81I<KG1)?%LZ\T]J6=U]/;FF)*6A9!OLO:<K?8M%DS<`M'L9"&CHTL?(J.P
M[EG::S(3"<AC%$IN.G'&;C$?/=3]W[N%QMV-O\CL;7EH_9K=K':L9>+9'7J1
MVQ-0"=B&;2I`K*S:]"HW[,-E/EF+V,C%%'"*)"J%3`3"'E/2ZVN$XTZWX'IK
M4Z.F,'7J7B7=/P#VV\>U^DV/<].=:+J&T-K;#C:_%4N1C[S8R[7C[BV>)V6;
M3D4XEO)P"MH_4*-6_:N7O$_:/`#WZ37M4XXTKO?@6VY:6XN.-MU?53X_H7$/
M!_?%F=QZ.P][4F4AZ9H/8NAJ":NT65B;`>-NS%A#LK)<)!Y,OHU]-0D9')F3
M%HT0*"W/`<<B-&HM:W3P4Y235:8-[:O<B6])!5E!T;Z/$Z(T1X[7W2FQ[W+)
M7.IS6N[_`%K7HRD2$%(Q]N0NE&JD;3%'!95!X$8Y@)6*C@6$#(D6(L80X$/B
MS(M1J%O[RJ=W1R_;&CV/#M]NTQ4GAY.CY#?YUHW&%09_YX%VN>&3BW8O5HAO
MJ0NN&L"L\[P*9T#Y0[DRW/`)D*`=3"4"OZARJJI5Z1YND\OA<:SIFDL]YB2G
MAQN"F3CF]ZBV_58+8KJ<VV@\=6RDN9^JR%&VA=FES9QKN,9RD=(C8:8^1.HR
M<E<`D=102J$,3GF?.U%?W?$JGK-%&7`[5S"F*2I\2S2O@=L%\_>V@^^WEAV&
MFRT/(1=VO%69R[EW<])V"Z6(CZ?8,%8]%S`3J]L!N""1RNFR"!2@L8H>V:ZP
MM5?DXQDE15Q;\&5_D-)1?T+G3]*\2^4[PQVM3']LOS'>4*[W)9-S6O;:5L?Z
M]2<5U%I>J?'U&PTA_6QEP5?PS!M$MC1JH.4CH^R3O*<0$3:O2ZU8^9"O6_`C
MU^C?TNQ=X:;E7HVF%LOW<DW'5#7I4]I5"X[8II]J,YF][3T_`7VN6J!VM?9.
M_O6JU)E7YTHV1K4N\2%@X2=<\)\'`2],Y6GUM<)+WUI\`M?I92:E9N*.&Q>)
MD=Y_=TO;S4*I2)';$3(UR.JRL'.MK%J6ER;IC..I5_,.[QJY^Q2AWNK[.9Q(
MG3348J&2!--,5"*F`W<]+K-DX]K\"^.KTDE5VY+=@N_=WGTDKL)^S\1$Q!7;
MAXE$PT7#IN'2IE%W)8QHFT*[<"(``N5RI@)Q#U'->GM7K;?FR3P6U_J9+LX3
M5(*F+?;L+]FHI&`,`8`P!@$I?^R/]GY0P"E16*F40,!AY'GH`?5^$0P#%Y)4
M5[+6S()BJB1O8BK+`HB4J!@*T+VF344(NH(GZ?`4P`/KTZX!EK7\PWZ7Y`P"
M<J05""4.`$1#U].@_@`<`M!4Q3>.RF$!$6S`>G/_`-TN0^D`^K`)\3_@6GZ)
M_P"L.`73`&`,`8`P!@#`&`,`@.0J@`!@Y`!Y]>,`E_+I?4/](<`IG<='OFZK
M%Z@DZ:.DE4G+-R!56SQNHD=!=NY;J=R3ELJDL)3D.!B"`]0P#1=?\8/'6H*/
M35C36NHA5VPDX]Z#.LQ1!=Q4V5#[UC'Q/8$'D1)':)F4;+`=N90@&[.X.<\N
M_"MR3X<6^DUVKTXJ,5*D444=XP^.\91)'6;#36OF^O)>3+,2=1)7F1H.0F"K
M+KDD7;<Q!%=\FJX/VG,81(`\%X`.,NT<6G+"F7ZD:F3E2KKG^A?#>/VC%J[6
M:@KJ'73FK5!V,A4Z\O4H1>)@G@BV]YU%,#LS((*.!9I@L8"C[H%X/W9N,ID\
M9KG7<4LY<0U*J<:N]@4*P\5C(*):G>59DL]5;UMS\NU*5:OMEGZ_:U$/9**A
M@XP#$H7Q[T176+F.@=0ZYBF+PBP.$654A4BKHN1;'43.J#055&QS,TC`F)A2
M`2`(%SQ[T9N[+!TXGL(XX+!M5ZT9I):_I$RI,JRU3K\H>P1\9#3P2,4R?)2T
M;#JNUH>.DFSI%9LY;QJDBM\N0Y!]L%1`O0<UZ-22EQ)IU68XE+)IT*)_IS4D
MC66M.D=;T-_56@D7:5)]5*^ZKR*A!*!%$8)>//')&1.(B42)`)3'-Q^<.;23
M+8V-C(J/0BHABRCHAF@FQ:1,>W1:Q3)HV+[:;)G'-B$9M&Z9.2"F0A2]O00P
M#"XO5&L8,KE.#UY2X=%VX=NGB$76(5BB[=R+8&;IRZ3;LB`LX=-O@,8W4Q1Z
M\\YXMR+XY8/-[.D]*,WPQ^K)(O4/2Z=`_>18"K5R#^^3BO,)0T+%QA)8QD!;
M>[*),FJ(2!1;&%/]<!R]G3CC-^C34)55/JZMAEU#K)8UP),?KRAQ4&ZKL52J
MM&UMXLLY=03"`BVD(NJLD*"RBT8@U(P6`R/P\'(8`#-9G*Q.I5(K#[J+6JZI
M&>^DJ6//#1*C(KA(YE6AB-`:`V*HV'D4>"<D#GMP"\N&S!ZT^1>-V3UB'_#G
M:.D6[EH?GCA!5NJ4Z)^.`X((=.`X#!SQPWKM13&A8<3.U!C6!3O$4$7QRM&Q
M!<MVY#)HI.OU7"J1$C"4`/R```<>@9-&..&]=I,+&QO?\T5HU$YR?K'!4TN7
M"90<@4CE4@`+END#I3M(<3$+W#P&0..&=53K11D@*VDR6BT86"1CCE5%>-1C
M8U-B*:AQ,M[K`B`-A(94HB83$'X^1YYP..'W+M16ILV"!`5*FD5,J0%!4QP`
M@)=ZRJ8^X!BD^`[@XD/ZE[AX'`XX;UVHJCII&*L<X%`JI2BN<P@"9R$+Q^OY
M'VU2=OKW]P"&2DWDF..&=53K(R]AA`Y.P>TQ3#[?;V'%-/L)[A2?`<J93@(!
MZ`/`_5AIK-$J47DTV4Y&K8GNB5%(!45.JH8")D-[IR`DJ;N3*00%0I>#_P`[
MZ<@DB.BW4`HJD2.`@!"^X"8E,/=R0`*(>V8Y#?F=!$HCT]<GAEN?8<\</N7:
MCU1VT9I$37<,VR0'*4H.%6Z`&454`A0'W#)@9558X`'TF.;ZQR5";R3[&..'
MW+M13%^[8XX$[VJ!W:Q2$2762Y57)W*D2126-R)TP`QBD*'P@`B`9*MS>2=.
MHHOZKR(J5MJK=,R>";<#G4#J=;M]PYC]PJ_JQ(0#\B(&*"8CVA]`=0QP3W,S
M0YE<E)0E11;IVDXRJ1C'*<Z)C@0I3D.<@G(0.#%[@,;O(`\@/(^O/X<C@EN?
M8>AQP^Y=J)O<?KP8W(\!T,(?F]/0!XY^OI]N11[F..&]=J*=,B29!11,)`,;
MN[$EA*//?W*<`4W<`JJ`/N#ZF'GGKD\,MS[!QP^Y=J)K<42>P4AR`D4YA3X5
M$Q.1$3G[3&.;N[>!^D>`Y^C'#*M*.O4..'W+M*L6S00-QP0.1$?;5%,"J"(`
M!R]I@[%"B'PB'''(_7D<,MS''#>NTH1(D0QR@J)R`ISP=4#`"A3#R?IV_K!.
M41,/J)N1'KSCAEN?8..'W+M1`)D4?URBI"=GQ^XLJ0I2&4,)/=[CB':=03=O
M//7H'U9/#+<^PCS(?<NU$8`DCP90QR`01.8Y>BO`\AQ\!>\2`(^@!TR.&6YD
M\<-Z[46A.S522?L(UO-Q<BYE$W*[)!"6:J'=HL#BB\,U;HKB9X@S44X5$@&*
MD80[N!XR7":S3[&..'W1[47@"IE6$Q#=QBF44+\?N<^[V@"GQ"8W``4.W@>`
M`>GKCADL:.@XX;UVDH$B`)3%Y$2JE5[B&XY53$X?%[?`&$1./<`^OTYU'3V[
MF-U8])FOZQV&HPQ36PPQ[?J4QY0=VR"8&:V-I3P,O(I@(6=PDFZ:0P@"O=]\
MKHF`"HA^N[#<\=N6RT-NW#S(+ZJ5PH]M*88Y=Q%K67;LJ334-[32WYO#/O-A
M`U9JCR<I#*CP;D%##V',4#&,W$1`4P$3=W)>.H\^N9Z/<S5QQRJJDCL:E.)@
M$0`A4TP+[YNQ,"B`I\!W?")QZ\^ILGTD'_+W&1\PFFTLNL@6%,1.F`%$%#=R
MA!'O$QN@F*)3]W!1)QR7CCM_!G<='9<:N)Q+F=R+25:@J@&$J?)/B*)DTP$O
M0I0`O<D0.."@'TAT`<2TUNVN.$<4Z=1W9USOW."6%57,DD3;G*"Q3$6*04U3
MN!5!;O%L"A4SKK=PE4]D1-P)OS1#\&5\,LFG7J-?'!Y-=J)BB+4I>XIB\J"F
M<H\\B(`F1$IDQ'G@IBE*'3H(C^',ZO:5/&U7_@^1QP:J6$;]'_F/%'2;=(QU
M#HI)%`P^X?L3`O0PB!1$`X'@@]`Z]!^K-5JSI]3'CA!KHI3N,UW57M-)V[DN
M-YUKAU=Q8:S;*[;XEI.5>6B;%!R"!G#.9BGS>19O42'%,R[=8A>%D2G*8ON`
M8Q0$HASSSQ=<Y?:MNDXT;V4_5-KW%FGULM3)Q;7"EOP[R_\`PFX*4O!1Z"F3
M@J:G<7_XA"\%/R7K]F5^CL+&B-7%'[H]J)@D[0[%`[NX./UP`8Q@+R8..\/_
M`(?(B''YH96DWDF1Q16;522)%##VIK#R4A1^(W>/'':513CJ(&,4>OTCSQUR
MBYH+=V7FSBN)[UN/-OZ?77;KN:>Y2T\E7H\3#*1>JELB$0LU-F4;'!*R$S&I
M2#4%!;FDJ])*1,LV]E4H'(HQDFYB"`@'!R<^H8]/I="W*Y;_`'47[:].6S(6
M_6Z)N<Y.=53.O=C1%@N>U]<4"9;0MKF/NV=?U^R6EC$),7[Y[)P=41;NK$^;
M-&2*Q7"C=%V43I=HKJ@'!2CR'/4;^BG-6E;^N3HOIIG@L:%LN9WXKZU))=>%
M#-:Y/1U@B(ZQQ2Y'$5,,$'\7(&25:K+LGG:=`%4WA$G:1Q*8O!%"@)0X#CG-
MUSE]B$N&GUK!KY[44?F*QJW'@S_<J?'I)UFGXRMUR;L<ZZ*SA8"'DIR3>&$1
M!&-B6:[YZO\`!P*I2-D3"(!SW`'&<QT-F<E!1QK3^)VN9W&N.*PV-9>XQVIW
M"&NU;@K37%TEX.P0T=88ERDB=`5(R7;$>(@)%B!\`HF+[@A^<`AW?1E[Y38B
M^%JF/1[8FBQK)ZEOS'2B6?S,G164[D_C$41,3@A@(*("<PF3,4!+VE$W'PB'
MU=,Y?+=,D\%5;"Z=U6X.:DJI5S*\KQNLDB(+MUTE@$R"@+)J%6`H&.)D5"FX
M5`A2"/)1'@`$?0!RGT5AYQ[C"N9S62[R69]'D%0IW29%"JE04,=\'"2YB@H1
M/@ZO8FJ9/X@+ZB7J`<=<PW.3PG-R4<W7(K?.8Q;C]*DG3%HC,LU`R8&=(E45
M*84A.Z*118I2@<PI\*$,H4I>!'CD..N<PTUC05\RVY.>Z-<O=TFW2:SU:E6C
M4:9/>8==KQ':_A4Y^29S3UJM+0T"W;P,3]^N_G9J2,Q;+I,F@D743()R]_//
M:7J/(\\W69:74W(V(6N&<G@W&FS:Z899FKI1F*<@R5,F"3AN*Q0,<Q?<;IKJ
MBF3M6.LV*;N`J0'Z^H%'UX'-7H(1_?'/HP]SVDI,P"X;6J%)L-)IU@FE(^>V
M$^DHNGL2M1>*R;V"C',Q+`)2B)BIIQR?)!-P45"@7GD>!ZCR^U*/%'AHLTVE
MU?,CHJ2-1;;JFY*+7MA51=RE$VA@62C6DVT1BYYJU.^=QQ4WK`QQ42,=TQ/V
M=`[@$/7G.;FCE8;5N-8[7%56_P!V!7.[:@U&<HJ3R3:7Q-B%EF"Q':C9['O1
M9F,DZ3;.6KHZ2R)2G,@J1$ZIDW``8H]@@!NH=.N<3LWK:K<A**Z4U\4<QOV)
MOAA.$I;E)-_$YDV7Y64C7&S&VI1AMB76U_LVUMDP%#J);,C78:0ED8>-),F;
MN&Q(IQ(/%OU)E"J)@BDJ8X`($[JRTZ";V^J*R18D]GAAEC"J0T0G(LA?@NB4
M#+HD9"I\Z8R'/Q![?<`<"(!SG?EW,^&5.I@K$;737+]S$MK/#.99DF"KV);R
MS!>49I#Z*NXY)4[UJD(?ZRA"E_#CR[GVR[&"6UME2E%W+*'M58D7[-(SEXS:
M3#1XZ9M2"(*.'39JZ57;I%X'XCE*7D..<APFL7%TZF#65FWS4(.#^^*S)L]B
ME0N58IDPRI4K`O'->>V>209IOY=5P^!!JTCTC"HJD;]><GYA1')\NY]LNQ@S
M!YM2B%EY2LIVVKN;1$(++N:JQL,2YL:Q$FZJXD;1(*%>?.&!/X"&+P/`\ATQ
MY=S[9=C.N">Y]AC&G-T57<^HZSN:)2<0%7L["4D4"6%5NT68-8>5D8AVJ_6$
MQ6Z1`5C#J"81`H$,`^F1PR6#PZ\#)>U=_3W/*@G2E=I@]U\M-$4JFL;X;8=9
ML,!(6RL4IJ[K5@AY1JM/6R21C(QL=5%7]24#K>Z<1-R5,O/H.=VK,-1+R[C2
MBE7&E._:>=J^9ZGRJ*$Y/BV)^%:&>K[PU0VL4M5%=GT$;1#IN%Y"J!:8-.RL
MD6S<[M85HE:3(]`2-DC*=4P^`.?3KEOH--1/Z%7I7Z8F!Z_5IM<%QKHC+]50
MUE0?,[Q_O.LJSMU'9%0K5/MS^?B856W6:%@7#R1K\JYC'C1N+UXDBLX3%D=4
MR91$Y4S%,/!>N=_CM,G2MOKK&GQ"YEJU]2M7=N'#+#N-BS._M-5Z1;1%EVOK
MV#F7S2+D&D?+6F$C'CEA8"\P+UNV=RJ9EFC\"&%-4O*:H>@A],?CK3Q7`UUH
MNA_=$M,E8NV;KN+_`.W/;T\+77C@01F_=,3<;;9N&VM096'U^*@WA^PLT,Y9
MU<J8*=)YTE)BE%>X9$X$.J)2'$H@7D0Z<STD-.N.L(^]8EG_`+<FFUI[V&/[
M)=F,<7U5)#?R.T(]I0[#:;;H3BC?,&:GMC:W0SF&2?%[3'C3O$G)T`?(@8.]
M$1!8H#U`.<KAY<I*DX5;6%56K?MCD1_[?'"3L7>'_P#QSKV<-?T,%D_,#1<7
M;-055OL"O2Q]X!:/V+FX>?@G4)[=78"\=K+N0?J&5%50ID2`3D"KE,4_'`Y[
M'H5*$I.5I<#R<E675BE3IQKL.'_>$9<*EIKU'_\`;EAUX&W-<[TU)MA1ZSUK
MM"B7=Y!+'0G6E;L<5,/X\Q'7RO\`QC%H\,X;IF6$$_=[12%0>"B(],\?40\N
M]*&&&YIK+>L#V])JEK=/#5*+BIJM&FFL6L4Z-9&Y,I-`P!@#`&`,`8!*7_LC
M_9^4,`I4$TSE,)_4!X#KQTXP##)5`#VZL+"U<J>RA90*Y;H)"T;@)&I/^*6.
M'O$,H`\!VCP)AZX!G#7\PWZ7Y`P"I'T'[!P"R-5#+OW@*=>&Z(=`XZ)*J')Z
M<>@G'`*B)_P+3]$_]8<`NF`,`8`P!@#`&`,`8!+44!,`$0$>1XZ8!)^:)_--
M_H_EP#&;C9HVLUF?LDH!PCJ]!R\[)%3$H.CQ<0Q5?R(-OUB9NX&Z`B80$``.
MH\8!\T]6?O"W>U%WD-6=656:O$K3YS8.K:E6MHP5GFK1#5-_$)R4+:D6R!?V
M%N+B*ET7,<Q<.%$G`"`>X!C`7`,L-YUREIH]AVOK/5C*5UPP=UJH0MPV!?X'
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M+9L"3AJY7G5#M3RE$@:;:(R'?N+*ZE9Z+<BGR@5(4$#&.8O<`"+#L+QWVC+;
METQ0-IS4!'5J1O,"SG7D%%O!?LXAZ\3*=9BK(*$1]]P0X\&/V@41#IS@'-.W
M_)[<57NVW4]84&@V'7WCK#0DUM%[;;%(1MDFG+Z,3M,ZVIC>/;N&+AU5JR(G
M,#U5N0ZYB%(8P<\*@U]8/,S>3"1OEVKE"U7.Z6H>U]?T-X]?3DZTNTM7]ALZ
MN\C)F,1;L%(8KZ$-:2(KHKKD3,"0B43".`=&^6&^9_2=:KSRHR6N(F3LEM&"
M/-;.DIHD?'-FZ!G!_N*JU9L_L]LD1.3L209MSAWB`J?!W"`%L\1_(.R^1>G[
M%=)6.@XJZUNUW&CG4B`L(5&0EZHF[29SS%M9F#&S-&3X[@#J(.&Q541Y)V],
M`^>50\PM^ZWU5HNJRMEH-BV-M"1W+,JW6UPVT+FP3K^M[H>K.(H\#44Y6VGD
MEI9RFD1VW'Y1)OP;@PE[,FK*/PER3;5<>KK+Y>/W@6_4JYK2[16NJUKZ`>TF
M8G9J4VA2]ERE=DK;%6YS`JQYY6LME)+64`,0Q!ZG)SS0R9DWI"B;O(<I561^
M"N98]QTAXJW/;5U\D/*EQ9;;39C7AVNG)NL1L%(STTYAWMPU^G-LFD8Y=K_<
MK.MO8(X/%"))B=5T?Z/7&-:C\'/BJZU]QHI/>&_--RWE-LB-;T"R:-USYA.8
MBRUJQN[3)[&D8FXO=>M)I>JS+E]^SU?/`?M@W7CXHC1?YHJ#KCDWM@95C\)-
M2IO>"P+Z/F5ND-ZUN'9/M<7K7EGWS(Z80A*7K_8ITJ_&2+24/7Y=SO"0594U
M6U_>L25%_%))+)I)'4,F813`!FK9+Y'<6>2ZOXFGI_RPW1;M;^0T!N%"EQDL
M\U':K-&:VFZ'=M>R4"X@;1$QJ24%=%I((3:M%4:R"2BLPW?M5D50,'M=O0>H
M<SAI&K<G]2==NWVV$?@YTHU\#<41Y.;TBO(^!J5SDZ/3-0*[&B=90;:9UM<W
MT!9(((=(6$K$;<93$O"_YA2-B7^7^[GB3;_A"$6,<O<0#\RU]K5?1']U:_H6
M0Y?/2/CEDU39UGUHLTXE7*Y8;"JV5?A78.2EUV#(Q#.G81C9PL+5'M-V@X7%
MOV@'/("/'KG-:8[BRG%]._`^-&O_`"C\RKE&14LBP/(H;+I-DLM8DG6C7E1B
M:1.QD7)6VO14;/2UK>,[X20A618AXZ]A`Z+]8I@+VASEGYC3TI3#W]G5T9%'
MX2Y7;7W>U1LCRPE]S5A6Z5Y*OR>JJY</%")5(O`'7]_:%[MM?D+:QBY1K*D<
M.)>NL),K0&X>XD#E#N$!/\.3;YU:MXQKNS?MU$/D<G@_T+):=I[ML5X\6-W7
M._TRPT*=V5N2U5O6D!735V=IHTBA7=O"Q1;#\X:9LQ0-&@,J1PR,!'*H%3Y#
MJ!<ZLQBX)8///$G\).M<:KJ*>J^9/E,RJ#^Z6UH]"*MNBKULBM/[+3*'5HJE
M6"-@"V*`=5I-I=I&9V%&>RH+*135:MU452''M`H9#YQIWLIVXK<_CUA<EGEC
MW8>R,W<;Z\I->PZZDYM>CW62V-XVT_:=/%[1&-4CZ):9VS5>J*,E%@=K.Y^L
MHM+45V59P4@IK-Q`P]G',OG-ANK6-:[>OO'X2Y3;W%SVKO#R+TT:'TXMMF#W
M+L"RWVH0+6PT"A5QSLJ)KUAJ\A8SI2FOY"RQ-.<2DM(1218M\>1*59OW=R7>
M8I31^8L)X)5]]-WZD?AIM5QIU(ZY\3-H['O^N+T[V:5HG;*=<[=`LI.4"EQT
MA+H,%#JQ,G:(6C2L[%5M\FN)R+-R.%"%*7N$>><B7-K$ENPIF\MWO)_#332:
M;>>2^/Z'SJ6\M_(:,UQMV5NNP)&'N(Z0VO<J"Q-KJDNJ9/2]!F$3+S^M=H5%
MX^:34(VA7J::L=+(@Y65(<`,/&=+G5A4PP77[>!'X.YT]QNS=WE#LV(<[7A:
M%L^J5Q[4/'7Q_OK&:=LZ[(,*S;-B[#1A;!*V@RK)4J;)Y')'!,#\E35*`?"`
M\Y'YBQM2?;N\"5R2X\<>[VSR,%V;NC?E%LI=1,?(&/E$!V3X]Q+??[N!H!ON
M5GMAU>X6?J%J:)D+6XZ:?/FR2\*9145CD$@FX.'::?S5FE**GOI[8(C\)<SQ
M[C*2;HVW-7>6\='GD`[A(.!W2_H2'DA'15/B;9-,T]0%O2-$!^]8/:"VOT/.
M)E1D'Z[94CM-3M*DB;XAY_+Z>K5%1[-F'P)?)[C7$ZOLK\R=1-K;BVW?M(ZJ
M_P`V)F(9.;%Y34RZ7*DPU3;+WXFFGM?1IEQ:'?Q\G]UHJ(/5$G!8KV6RC@%2
ME`"B0H]KG=JN".9<DE%5E5+W&E6%YM>I]/U"9KU[=3$Q%:C\W)A&=F8RG/9:
MO/\`5SAHJU,F[3CFS^*1%_''>*M`(*BXF(4Y0'N`.GSVV\]O6%R.==O<;FLN
MX-RZR&3JC_?LM/HVS36BMDN]A6"M5%S_`)<K;#V+&4^ZSL4R:,6!$ZXUBGIU
MD15]Q*/,=(0$YB<#7^8TZ=4DJ;JKX9DKDMQUS[CHWQ5O\Y.;;\CZ$;>KC>5,
MULOK`M6F5G=<D)."/-UZ0?S\#+3589LH^6D5%V0+&4X,*8*E(!A`!XY>IMZO
MZ[:22SH8=3HY:34V[<JXJN/70XI4I,LI?]_UB/VO*P]G>_O`=.D:3"QZNO+1
M2,O5:O\`-O(:%=1WS<-**MW!V;5^<.#%,4>3#T%"_'3/SI9+]<#Z>Y9>IY6[
M&.-'V23ZO;`\NFW=_4]Y%Z>5NEJL=0:;QV[3)/8RFP:?JRW&C*G!5^<I$59=
MJV=BZBH^=&3DS@/*"";Q$@)E*;CDW?YJPY5HJY;:=F76>-^$GPY.GN_B=P^/
M6U[Q8/$>4V'>[+&R%KKS._-26ZM/&%_468ULCS[J?F=Q:#"#LLP1NF8#'1`&
M[@X`!3@(B`</FUFM5^S=LK[>XG\-.O"Z\=.C(^5E&\G-E)V!^A";KN4VAL;Q
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M-BKK%K\N*T?42I+.Q3>&$$.4^`-UZESNTGQ)+*FWV_B3^#F\*/N+%1XVTQW^
M66S5]L;2LS_:GE7L_P`>K?`3]PF3T]OK6PRFRXMJUB(!N9LS8OZTP117CYI,
MWN&7'D>"@`C,N>6Y+'+#NQ\#E<DFG3&M.@XK>2+#5M"U$QHWD!:$Z[KW6^TP
MD*;(;_M.K+&VNL?L66A5'=1LI(5_49J\&BXXC5"IOUNTZ:Q7)$Q,X$V'SVT\
M:+$G\%/I[CZ^>1FRPA/!2-N4B\VS3UK?7M=1:LFE(?LCLJ+<V=:/1.YMEG91
MQ#442BG[LO)E;B=(AC"7@QNG*YQ;4O,>7M[+<1^&;^C&ON/E9K*V76V6HVG(
MC=%V3ISOR&\:/G7^O=Z7[8[=&!O<=L.(O\5&;9MT8PL4Q%S!6K<7GLG.R;J'
M3,B<P@`YT^>VG[,G\'.FVGN-WVR18U*_R6DMO;0W/#^-.N?)ZW007M2VV;YQ
MJM)::J%PIM3M&RH\CJ;;5FOV&6>`U4<E$IW!$T@[A`</G<%)MM<>5<:>WM4]
M;2<DE+31<$VG5K+?[OT.UO`0RH^$SD:3.3TRZ![Y"&I\Y*HJ_M-+<7RY+5N1
MD!>-8Y3Y]9<B9R'43*+L.#F]1SB?,%K,$\L?T.=5H):*E52K_2OMN/F;3I?6
M(R[-_KC86SK#NE_X8^2LUNU"Q6&YSB=9V.O5XXCPK(7ZA8VO6L9PBA4F;$!`
MK=,@E`0XYX4_+?F?;CV8F16H7VK%S_3F^%]4L'W,K&MJD(#R3HEC;3=SO6PS
M(:))$ZX6LVVJ+N!NDZHU8.[3JD65E-:FO^F';M(%)=!5HP765`Q571`ZY?\`
MG(-4=*%__I7((NM5AMKE3+VV&84\:JUK\\$M->0\QYF.XG=[#;]593%X>PC5
M!Y"6M2&;W*M31DJ,WUZ#5!`M8(P$0*\.4@'<'`Y`?G89>)MM?V];LP5K2JNG
MBOI>^N/Q*"U.*82,>_YP/]QQFY&NG]$(>(4%7G=\9H/G4;1*I(LF%3@HYI'5
MZ1FG%Y:+MYI"6.0PL_A.7M$G+\Y!988UVF/7<CE)1PPJ_P!"=#H62/\`,=DZ
MGWMGOMYM=_J[^>H\P\W%0MCUE.:K3!2QL8MK%J/]06W3D,_47!/N6:KB/<0>
MP`YPN>VU@L#S7R*6>/<5-:N4@^KGC-IJ+)M9_=M96?RB<[39$K%]9-HN*8U3
M8RE;K$K97#1*/<A)%.T*Q,BNKP<AO3D!,_/0K4?@Y+.O<8ALC2*U/H/BH"S5
M&M:5N.M5K-L]QLJ'WML=G(;E7;,U(M[;XJFV:#LQII=D<4&RJ_>C[H`!DP#C
MGK\[%=5.DV6_[/Y)>AYE_P#_`"'3BJ]K2;>?MB8AL.F79K0]*2NPU[;L6V0^
MMW;O74-M_56WX12<<M+/.NHV/U19:+99"R:IV$$0LV;I.9Z.<HG9IMR*$,'>
M8D?G8QQR3[Q<Y-R_E#X=`TU/]VVG#E_]3/L5Y,A;;+XXZI<MZO8XFP2&T?&M
MU.5V/?.I"<A61-A5MY+MI5VQ2.9<T>DW,#Q02]AR=W?P43<51YO"$G.N?=4Y
MQ.,H31T359VM[[K%)OT9M@_[P:>J[JR`YLDF]2UA:;,\B+$FUA'I!@VNO):+
M$HF2!L=N50H*IJE$,[?.XR33?TM4V_Q(HSI[S"IM&6WSX8;*NM*>3$!2]K62
M&<SK5G/3B$$XFJP*=..]CH`YG!6;JSQH"0ZK=1'AN/?T$.:.+C^O.N/:#@ZH
M>/6P*9J+Q_LNB-=V.E;YVA0/*^L[%G%RS7S+@'M9L\A3W%L1?O$(R/4);$V+
MJ(_5-SHI"*29BG'@U-[G7,>5I6=&N*U-\35/YHY,[M\CY9S9N[KZ*=M))O=+
M9VFSO`*@)UWR%K4U"1U]@OD-$R$1?XQ30<YK2OEF$9..<1L-=;M8K/)C=+E%
M2)WPHR#%#M?I'`%53$(3E'^Y^<<SEZ/6)^1+%UV-8KJR.Y_VOR?ED?6:2GGQ
M=%1[\'W-EY\P]-NF^V_)V[4S4LI,R\SH[0+9C)U:!*@[DY9IND#V=%D^8(`O
M(2"5=*0SL@F,LFT*4P_!VY<4DV-T3$M'-ZVNEIR92V/'_O"&DK7;'\A,C8VM
M/DD*I#2CN)<"+0Y*LY8"J4P=AF(!W&,(G#@-'YQ1HJX)4H2<R5+7MD3VMJ&P
MQ&B[=29R)W_),-DEK^D;5%R%6AA<65VJ_MF]9:95L>RF-B[F:R0)I$CD?<!(
MI"]@B:5SZ.+K\2,?<;NC?'&S5>I^.B^J].OJ?;;7J#?]>V7(#`LOOQRO.5V7
M+!MK7+.1:*H/):<7)\FHX5`4_>#CKTQ^=CM>?6*-%O4HT78HN"?:6\.-C49_
M%S'CR39HR,&[HI9>SUS8U6?V:#3JB3D[*SN8AE"NW;RPE[A$J9$"G,BH8V%S
MVFUL49K-KK7;3[<VL)]EXV7:'G(;R5M<]9Y"M:9;5]&-IR)K5%L)6R;SD;#*
M6?9C>Q&?HJ)(->UDBD'QAR!<?G8[&^\^@XXK-I8;SZ`:MU1<VO[M4-7SE`MS
M>XNM2W.#EJ(T.A$7!>0<3\X@W81CM955%JHH@)%TP,7]:BH4!ZCQE-S5>KEY
MW13L/)UDN*^Z.N".`Z[J/:;K6EK+(^.D]::/6-A>.TRU5G_'FHZJVA+#7;.@
MVOB;[7L0\^X[<UK=75,FO)HLVJJXC[A!$"]<&N5;*_S+]2=$Z77C3Z7^A40V
MJMO26[]?22WC5>JVC">3*=ZO\/6--ZXKE+CZ3(N;;7B20;6=J.M@70DM791F
MO)1RCI1HF/>4$TR@!,\K@Z,N@]/C6R6+Z2PK>/NWZW(4>R)Z`V2VH]7I>T==
M.:G3=+ZFM$C#[$#8MAL+2\L*+=V+F(7IVQZV^;1RLNW(+EL").XI2B'+@KL[
MAYB^Y=IGT/XA;15H7D&PM>D9*;G)7P;U]0];N;HE5;-9&UV)-71\\J;62BVT
M5%M9%G][(J+&:$1.T`!2(H<$RF-[&D7_`(ZPW_$.XW**C)TXG7'H?BC(-Y^*
M>V)1S65J!I-TR@:]IOQH<VV%J+*M,IJU3&O+@E*VBHBDY,>%FIEM%2;A84WY
M%RNC(BF940-P->NBW"*2V_H/-257+!M[?'^!==?>.=YGKA5KU(Z9W:TKLMY5
MZAM5AB]T&U:PD+!$Z\US<H`+_*T'74*SAH%J#J0;(>PHJJ9W["*C@@>TF`^8
ME1ITPJ0[G$G%3HZ/;EW^VPKXK1NR*A+0#MQX^OKU#I^3_F6T;P$.PKM=:1=,
MV_7Q8:SNJ93J)GK=,<'.J#M^Q.56/,;Y@&PF'(48TP57C[?$F5R56G*D:+;M
MKBL^I>\S_P`5*MO;54I,6=EI#9KRNU;5$+2V=>V1':>;['D+7'6*,C&<%1;_
M`%_[I>6_64+!.U7PR$F1-1V#9(`,*@&SVM*J:>/5^IY&I=;\GTGV,:'.<$CJ
MF`JIVJ)U$"&`Z)3B'*ADSEY*/ZP1+Z]>WG+R@K<`8`P!@#`&`2E_[(_V?E#`
M*)-$5`$0$`X'CKS@&.R:9%+'73BEWF0;3Y2JBX62]O@K0AN&Z8"BX[@'CDX@
M(>H=<`RIK^8;]+\@8!/4.!""8>1#TZ?AZ8!9F1!*^="(\][8A@_`'N'#K^'I
M@%1$_P"!:?HG_K#@%TP!@#`&`,`8`P!@#`(3D*<``P<@`\AU$/XA#`)?RZ/\
MS_M&_P!K`+!9ZW'6>`F:Y)M_F8F>B)2%DVX"(G692S%>/<`0#&`@B"#D_`#]
M/`AU`,`X/KWA+-5&-D(=EY(;%(T1J+^B4M*/KM+B'U-J\N>.9+K*.&;%-]:[
M,RA&!6K*0DSN/EQ(10J1E"<CY]U:WS&[<FK=<,%^ILM2TBBE."<Z8MMJO9V%
MID?W>=+C(9C7-;7ZTZ_KL-*TZWP%35C*K>*9%7^HLI"/6NPU^X1<HR<RUX+(
MG7GP.4X/WQ2NSA\P8ZAL.JGS6VEP3:K7^6+W=!MT[Y:V_,M<:JLI23VUZWE2
MK5>@RW5?A5$:ZM,;;W>RKY<)QIM5?;W-@+66D2-C>Z^/K*4:LX^#B69(Z%>0
MIOFDVB0E215`I2E+URK37>:O405VY6VY*JX8K#L.M0N7>5-VK2C+AP?%-M.E
M:T>%*X=^1EK?Q$I49`T.N$M5T,VI.Q-F;)9N".V/WA(S.S6=R93:<H^79.5F
M\/$MKDLHV2:J(&,HF4@\E^`/HSQ#&(?P6UA6J'?Z$WM=Q-";(U1K;3<BY?NV
M:J\75==Q+F&C%XPQ$/EFTT_;O%3JKF)P!S].H%XP7%KN.7ER?`WA@LOB>G:U
MJA;@I+]BIGGAMPR,HIOB+0Z=LAILB.L=S<SL)<IV[MF4D_C_`)0TK8->5S6L
MHR7*G&$4>1A*Y6VBG^L)G)N[N[@-E?#S#/B=.J)%[4V+]%<BN);<</=AWG&F
M]/$K:=.<U2L:"IEYO-=EZWM*!GK7![>KVO+6S=[%M2UI4AKRXEH5^SE-=IOG
M)UTSQQ$91`0]M%5/O$<LM+6J['S&W:VX)?I\"J<M&[+X(TO;,9/X_J=C^-VC
MKQH^+I-4E+FM8J73-+TG7K>(!4RH.K3&NU"2-I(DX1^803/'B#4PNEEA4!`%
MA[3G,([S$2MF^'>LMKV*=GYN>V5`QUIC(B.V/3:=8U(.L;!90*GNQ)+,Q;L5
MGJI@;%!)91DNW.[(4I5#*%``SSI+7\3<9/AJZ8+?U;C:I:7AQBN+#;+=U[S*
M)'Q5U/,5_8$`9"881&R;C3[U84D7OMMRR]1)"$@DHEN=HF+)D"$&V(JF4`#D
M@\]1-SITZOJ+\]UE7#++W4,]YVVUY2HJ8YY^]LR#>?CG3M[M*66=F[Q49W7D
MRO/TVVZ]L`UJSP4D^:G92*L;(M$54D!=QZJB"AA1$12.;M[3"!@[O>9Y;\K"
MYAN_4BTX*:=Q)PZ:_IB56D=#T_0U:FJO4'MIEF\_:)BWSLG<Y][8YV4L,^1,
M)A\[E'J2*ZAGRA1.8`Y`#F$2B'0`Q)<P^Y]D?`TR>DEDJ=OBS3K+P6U=&QT7
M&0UIVO`KP%FL]DKD]!;!E8NQ5Q&X'45L]1B)-LV%1.CRIUC*':*"<QE_C[NX
M`$'#S#[GV1\#7^0A2E%3].['N*"3\!M`R#&-08&V=`HM*HXH=@/`;-O#)QL*
MGN73B0<PNP'H2*[ZS-EG;M0_OG/\P`F$"G``XSS]5=YM;N*-N=%3='P"Y@JX
MT:?=U8^V\V;1?&S76L]C36TZ8G8H5]8ZU5*E.P"-A?K5$6%.C2PD(J6!7/["
MDBPBBD;HN0+W]O/(B(YSIKW.)W:2G6-/MCX'%[7.5OAMM<7%NV?`P]]X->/<
MGLJ2VE*Q5H>S<Y?&.S9:%<W:VI4>>NL4BBC"S<M2@E1K[B0ABMB>R<[8"E$`
M$"\ASGH4YC]S?N7@9UKM3EQ=R\"TK>`'C@I:(VQ*PMU?'@;VXV37ZTZV;?0I
M-?MKM\XE'SF'J'WX%::)2;]V=19,K<4S!\''9\.>0]3SK9/_`.,?`GUNH6'%
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M)"4H"!>`,(#\^M!J%O-;UNI:HY=R\#(HGQ&T1!5!:@PU`C8FG+[%+MI2"CWT
MNW:EV&G8"6HEF2,G(`LDZ3GTP<E2*8&Y3?"!.WX<]"QH;7DI7HMW*XXOW9/<
M1ZW4\7%Q8TIDO`M$3X7^,E:V8GN6-U="I[%;24K,,+"L[F3DA7TXT793BT+%
MN),\)#H3*#E0':3=NDBN8XF.43#SERT.E64>]^(>MU+5'+#J7@6VO>#'BO5)
M>TSL'IVN,GMSCIF$E$Q>6!TW;1=E;G9V!C"1SR7<,*VTFTU3_-$CTFQ5O<,)
MN>X>8]!I?M[WXD^NU3_F[EX&R9+QMU#,I?+R]&A)-J.O2ZI,T>E<N&JFO4W$
M>[3K*B"C@4S,TG,4W.4_'O%%/H<.1YGT.E^WO?B1ZW5?=ET+P,$9^%WB_%42
M1UJEJ&N_LE*/6DE*-W+R;=2CM_&\!$O5+0[E5K*1>%(`$9&*\*+,@=J/8'3(
M]!I/M[Y>)/KM5]W<O`VWKG5>MM2U8E(UI58FH54KY\Z^Y8DRXMUY!\H8TDJY
M4=.'+EVY=J`/O>X<YC<"`^F2M%IDJ*/>_$XEJK\VG)U:Z%X&MJYXA>,5-DK5
M+5K2%"@I*\1$[`6APSBSIC+PEH!,+%%"BHN=!HRFP1+\R1N1(%>.OTX]#I5_
M+WOQ.GK=2\Y9="\#6%Z\$M'O-;7FA:AU[0-3O-@L*]$V>7C:R5PWGJY`VV.L
MZ]<G$/F`._8R`H+%`A^XH"H/(<``8]#I=D7VOQ'K=36KEDZY+P*J^>$.FYFE
M4^A4RDTZDT^"VA6ME6*L1L$T".N98<9$SV(G&ZGOF5;R*TLJ=3N.("(\<]`X
M\Z[R^YYC\M-0KACL]YMLZZ*2\YMRIN6?N-JN/%SQ^>ZS:Z=6TY13:OCW0+Q]
M*3A$D89B[;)D0)(,R)"1P@^,D':+@J@*G((@)A`1S5I=#;I):B-<<,7[\F<^
MLC5/C^JF=%V9;#-8K46MX-Q4G</1Z]$'H,._KU,&-CTV2=5AI([<\C'PJ;?V
MTF"3U1HG[PE`#'[`[A'-+T.CIA'OEXG,]72#4)?4_P"&XQMAXY:"9?M"2/U+
M0T_VI7L+NQD3AFZH2B]M.L>SJNDS"<`&?.X/\UV@4%N>!#H''/H-+]O>_$S>
MMU5$N+!="\"AVWH6%O5"G:O6GC;7DQ)U:.ID;;8:'@Y"4B86-?-7T=7#-)QJ
M[8257.LV!-S%KE%NN@<X<`<2F#SKG+[O$_+3X/T-EG702I==95]QA?C1XSP_
MCRWMSI6:96":O3V,-,N82FPFNZVR9P[-1C$,8.FUHB<=%HI).5CN5SBHY<KJ
MB=0X@!`"RS8UUA-6FU%O'!?J>=S&]I+UZ%R:^I1HL7AC7WF[#:MU:2S2%U&B
MTX+9)/&$A)68\-'_`'P^?QOL$BG[R0,E[SAZQ!HF""IQ$Z?8':(<9U<M<PN0
M\N;K%]".(\SC;CP1DU'<>SVK-8VJ.DXBS4.H6&*FI=O9)>-F81A),I2<;%!-
MO-/FKI%5%R_3(0`!8P";X0Z],S?C]3TG?Y5;)?P,IC8""AHMG"Q,1&Q<+&M$
MF,?$L6:#6+8,D"&(FU:,$B$:MVY"&'X2E`.HYZBT6GHJQQIO?B=>JO/'B>+K
MLVF)P&G-.UM`Z=?UGKZ!26>O7IR1-4@F!%GTH8#/7*GR[,@*KO5/SQ'GN',E
M_E[<T["I"G?[_<'S"Y!TN3^II;LO;M,I5JM3$RAQA(919:-^Y%1.R:G.K#*F
M44^ZE`$@B>/,)S""(_J^!'@,XMZ-6)>9J8N5O*BWO++$C\G3^>I;5Z)1W;F,
M>.*C6'#R#11;PSM6!C%7<0V:@F5!M&N3M3+L&Z'LD[2)&*4HD`>.0R^O+7_V
M9]LO$1YK1X/&F\K%Z#0'LN-B<U6M/)\$DVHS[B(CG,R"38Y#)(C**MSO?^&4
M1#M#OY((=.,O_&V\G%]YQ^2E]ZH5X5JL())MDHF+;MF2QY)!LDV;H(,GB@.0
M/)H(IE(FU=G!PKRN4"G'N'XLQWN734OZ2^BATN8O/C^KV[L#&%]9:W<$;D=4
M*G."-YA_86P.*Y$K`E8)1M\M)3J0*M#%+,/6A.Q5R`>\9,O`FX#,_P"/U")7
M,9W9?TY-2P[$9BM!0\G'+Q\A&,7\8^:_).V+ULBZ8NV'9V%9N&RY5$%V?MCP
M"9BB3CZ,[CH;]?JKT]1TM1=S;QK7W[^M[2@3IU3CT6J4;7X=FBR!N1DU9L6R
M#5BFT35*V!FV03(BU!L"ANSL*7LYY#C/1]#IOM[WXAZO4-4XF3@@*Z[2<E6C
M8MP5\J*K\JJ#98'JR?!P4>E.4Q72I"&+U4`Q@+Q]'&8[VBGYC\E4AV_'I+8:
M[4QCPJ;2^'5N]Q<"1T<P*8Y")-""!2]P*>R0G*QSE[/C*1,PJ+"`"'`B`]OI
MTQ;T^KM-NVZ-]1Q>U5R^E&[+B2=>ZGZ%L/!P)7#PZ<9%IJ.CF.[,BT:(F67<
M%`ZJRYDB$,=RX*D'><P]YREX$1`,LX=>Y<,W_3;QP66W89GG@1I1,8@=,Z;)
ML"B2)&;8XIE,HU:@DDF1DT4'E1LU,FD4?:(($'UXY'G-'H=+]O>_$CWOM9Z$
M=&G55<%;-SK@<2+."@4ZQ3`42>RHL`B<I")F[03$0*4H\``9*T>F7\O>_$U0
MUNJMP5J,WY:5*9K.OQVYD1XUE[A#G;$]X%#"@H<!,J@L8``3,SG$3ME>T.`]
MOM$`#@,NMZ'33JY1RZ7AWX$/5WY)1E*J70N_#'WD@&<2HH4Q4V0J@(`/MF2[
MS]Q%D^Q0I#=QR&*53X!^$1*8>.0'.Y\MT:3?`ZTWR\0M5?2HI?#K+L@V9F]Q
M$Q2%]SE44BJ&3]ST354%,IR]W/>4##Q_K!SZYF]%ILN%TZWXG/J;U:MUEOHJ
M_`GG*R3*`%.B!Q*/LD]X!Y%`>WE,ACB`BB8..@?"./1:;/AQZWXE#;<G)M\3
M*,B:95#*%ZF5$%>!,)R=X`;E9,AA$A#G`1[C%`!'CKZ8]%IGG%]K\0L#P3($
M/V"=)-1=4O!.\B:BRQ!(8H%#N*=10/AZ!R(\]?7(]#I?M[WXDU*-L^B1$C9I
M),#J""R::*$B@JL(-UP^8(0A5SJB+==4"GX#D@F`H\=`QZ'3?:^U^(JR\%38
M&20.)D.!!(J:@*E^)0W>1+L4[N3*%,8P)B`]Q1$>WZ<U1BHQ48Y)4()ZB;81
M$QS%#W#$[N51*"AB]"%,'>`&]/3Z<Z3IN(:JZX]K19_;;)F33!P80(8"I)*/
ME5>XQ#**@($57.*JGQB(CU$2\<]`#@W7=V(A12QQ[65/!2G`X@0%"'^$1`O<
M102&,;MY#DJADA'GZ1('7H`9!T52R:)D>X!$P"(!T5,8I@.7M,F)0-VF(8H_
MF^GTYE>BT\G5IU?2_$FK+8N]8L@1,Y?-61#$4!`'#U)L11--+W%/:*LJ0JI4
M42=PB'/87D>@<Y"T.F647VOQ%62T!CI%(D@U4:OV[UND)'C=9-VU>M>3"B<J
MR1U&[I$1Y$I@$P"/TX]#IJUX7VOQ%67,B390AA64'W&X%,8PN#D40(!0,!Q,
M"@&2*H1,>X>G>7GGD.<>BTVV+[9>(JRG>NXEHF@#B09M_GG)&C4',@FD#QR8
MB@D:-O>7+[ZXD2,)4R<F'M$0#H./1:;[7VOQ+/.N9JB?4BM2!'M[#F`ARG]P
MQ?=$AOB[2`)@[@$2FY`.!Z#E]NU"U'@MJD:G$I2DZRS("-6!.TA3!R@<!+RY
M.91#W``Y4RF,H)TTC$#@I.0+V"(`'`CG4X1FJ2R(3<<B2X20!?H4G<4@J%`1
MY$I!*!5#%*(CPG]?3@!Z^N4^EL?;WLL5ZZE12="48@'$B@G4#IP0Y53E`1+P
M<3%$I@`RG83@3?G=G(<\".3Z>S6M,>M^)'F3I3"G4@H"9@%)3@WN")@3[@!0
MQC@(_J^1[BF,`#QQ^'C+H14(\$?VDJ]<333Q1CW[3UM"T#3%)*-:V8T-^TQ(
M,1]MZI"I/4(T)0%%1*5TFB\<)I").[L.<`'U#(N0C<7#-528=ZZW5LR(A2I]
MPDZ<@<3CR/H8W*@FZ\=3CR(_SA'Z1'*O365L[WXAWKC5&\.I%G>S-=BY6!@G
M\G%1TS93NVM=B72Q47DT>(:&>O$HYL50BRYHQD4RAA*4WM$Y'IUQZ:Q]O>QY
MUW?[//MVEU3^25.0$CIG2,L9/CW"F!4Q#?&0_P`0^X)#&[@`?0>#!P/`Y;&*
MA'ACDBN4G)\3S+NBB@AR1$`('8F4$RF'M(FD7L3`B?(E3*`!QT`.<Z()^`,`
M8`P!@#`)2_\`9'^S\H8!0D.J4!!/GCGKP4!Z_P`(#@&*2"C@+)72_%VJ*6)(
M_P``=2?*-5@+SV]/UA>?K_@P#-6P"!3<@(?%](<?0&`1./[(?M+_`!X!;FO^
M-6_Y,G^]4P"9$_X%I^B?^L.`73`&`,`8`P!@#`&`,`8`P"$QNT2AQSW#QZ@'
M`?6//KUX#Z^1P#D2H>349<O(&^:9:0:C2*KS5XE6KF=\=1K=;;5UFJ&R*Q'M
M?9X26I19%L*AN\2*"H(E_--QZD+,/3PN5K)YY42JZ>^M.T\34W;BOSBJJ*>&
M?07:C^6WCKL>Z)Z]HNU:O9K@X2F%64.P<.O<?C7A=EGT6+E9F1FZ=0YV1P<)
M$4$Y..1#,^JM**B[JK6M#1H+EZ3G1[%^IN"\WVH:SJ$U?+]/,*K4J\W5=3$W
M+*^TS9HI.?EB]XID55476.("1),AU#<@``(YFA:M3FHQC23>!OG<NP@YR=8I
M9&E:3Y@^/>PHUM*5>_M7#9W=X[6Z*<C'S$&^&\3!5%(>#/&34<PD$_O1%,3M
MW!DP06+^88>N;7R^XL5*+7O,2YC#[)=Q/M?E;I*FQ=@E[!<#LV=<V`GJV7-%
MQ%@GWZ%\491LH-;9QL)#2,E(R*47)%74]A!4B9"F$3=.<OAI6DDW%M+)[<_U
M^/68+FHN2FY1JHMG,T7^\`9J:QNNW'\=634^L)[K&&;-):Q_M)9V>I9ILQ0=
MQD<>$5?D5D6/O*NB+IHG0.!`X'KD:B.FL.-5)MXX4['^FXNT\=3J%*DDJ;Z_
MH=Y:[NS#8E$J-[C"'39VN"C9A!LHFN@J@J_9(.Q9"F\3;+E.0RW:'N$(;IU`
M!Z9C=R%Q\"JD]KV+II^AI5F_8?G3EQ16Q5Q[30A/-OQ^7V8YU(TNB[>WMI16
MM#(NZS8RTE:W*@1LVJJ-V/%I0#V:3>+@"C9)8QP,42^OK;^/N4JI1?1M\.\?
MD8?9+N-847SKH3.@UF=VV+V#LTL2VOI6&H]1M=Q:0T-"7*0K#&Q3[F#C9$L`
MC)G9D-_Q)R$`ZP$+UX#-DM*E'Z&G*BQ;Z,=F7>>>[]V4V\4FWW^\VA9?-?05
M1MKNH2LY8EG$?)5^'E9^)J%BF*C"2]I*T/"QM@L<>P780CMT1^B8Y7`E%(%0
M[^,\[50<)1KFU^IZ>@E*4)<3JU+]#IN>>KQD%+R:9$0<1L6]D"%6.<6Y%F;5
M5P`K&2[3J-TCI\F[0Y,4!X#D<XTRC*]&,G2+="W5MQL2<<U3XG!5:_>(:70K
M-26N;ZTR5BD*/3;C:I6E:\MTM4(9C;3RC1A,2$BFT53A(A1U"K$,HN)0)P!A
M^$><].>F:DU;<5"N%<_@>,KUUYN53:MD\S=+5^]EUTNXM[E^=]585Y;HZDV9
M_K2"G;LHB%<A+#?&C(8F)DWR2Q%#)*"`I$,'>)1$`R(Z:7$G*G"NWW++O'G7
M*9RKW=M?T,1T#YB1M^8Q5<V`S+$[.?P.W+X,/`,'*T22AZUV1*4L7Q'!C*"#
MU5HU25(D;@S@.1)ZAG%_0692XTU2B6-:^U2/-O2SK4U]N_\`>-:WJFH+7;=8
MQFP;-:T=,EVM7G"6LK1(5RML)YB]6J+_`&"N5!#]GFTD#45036^+VP[N.,6N
M7V[=U.7#P;<ZO#9AO[JFK17)N]CQ/Z7@;!4\X==TYK%1%T:7B=GHJMT9[LVR
M4>DS]DH5#F;3!Q#U1O8;0P9GCV)6YGWSKHI/<,P8*@LL!2`(Y;+2J3;@XJ-<
M%1[_``RWTV'K\=,XLSJO^7]!LNQC:\95W9*R(7:4UJ6_DIKM?6JU^AFRCN0K
MZ=G:N%SID;II"4'J[9%BH<0*FJ<1#,DN76U#BPWTVT,/Y"#=."7=0WIL&_1.
MMJA.W6>:SCJ+K\:ZDG3&OQ+J<GG@-2@/R<1"LP,[DI!<Q@!-(@=Q@^+H&3:T
M\:.-OAP_7V[<#K\A;6<)=QR:]\_M=0+"Y&N%*VW2+-2X.&L#JA6FHHQ]NFHZ
MQV):LP:M=;%DUHQZ#^23*(BLZ;E23/W'$.T<NN:&$J*W**QS]O;`Y?,H-?Z<
MJ]:*F5\\J3$P]?67UUN8UTM-DL=2K^K#4]JTO$O-U&$;V*PC&?>$TUK;^'91
M+HBB;Y*0,W<F,!$A,;IE<>6OB7%<@HUW/+><OF44L+<VZ=!-LGG328-"&-&T
M/:MLD7]'9;'G*]#5^+96&B4]^+I)L_NT78YR&/%/E73%=,K1,RZAP2,<HB7C
MGTH<KTDFU+46(I=-:]5-G2Z.M53:9'SR\LM%J.X@#SQU_(61O`TVH;)V*T`:
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M2:BD@`"0P=V0N7O)W(\6=*/('5&P+,^KVN+M;H=@>=DX*I6>8BXU,HIFE)*(
MBGSIFT(#DJ?P.734I0$W`&*/(=!`<QSMNVZ2S*5?3O>2EC6E3Y:Z\\W=\'EM
M1V*TZOM5@0N?BJ]VY;-?5X]2;+L)6%LXI3-PB3/I!NM(1SJ).0$&2!579SF$
M1``];-/I_/K]2C2F=<:GJ^@G1/CCCUFY;Y^\>U=3I19=A3W\Y3X*MTVZWFY*
MVFD5LL!7;RQ/+PQXBNVNQQ4]998D87W%FK)$ZJ0].T>F7W-!*W;<W.+HJTQ.
M)Z*<(.;DJ)'T"@K#&V2%B;##J?-Q$[&1TK$O"B44W;>5:MW;,A13%5/W%4U^
M.0,8@'+P)@Y#G`8SA4WGBP87YE7KMKQ[1Z9+O+>TA9U[>:@YO#3]B:[/VF3E
M+CK.,DW=@J4*>*KJ_:H['N*J8A3D`39S^1TUGZ'";N+!UX6NFBS705RY9JKW
M]2-R*B\4J2KCW/W$\WFK*LZNYNEMT3>Z_3)RO0\_K"<^_(280OSVRS]9KM(K
MCTK1X52ISMP?W!@HT;.N!!N90ZG`)CG2U=K5*MN+BHYUIC7=3]3-?Y;JK347
M=BZ_YBJ>^7.RZZR8P-N\:+9%;DL$Y%0U0H;:TUYY5[*E(Q,U.OUT=@MG9H%H
M-080"X3'>4PLE#H`?X5BCDUKLQ)TVBOO41XIQSZ=QFVM/+-/8]VJ^OW%`E*G
M:UY':5=V-%2<G'29M=V#6+.M.7L,N]BU5$Y=*;);&JK1RAPD=,##QTR#V'HY
MJ/%&2=<J;>TUDU\OKU)KUV*I^C)&T2C^L[=L#@BMVBH-JP3U=>G],454=RB2
M[<[6?-'BY2#M,H58Y$^/I"?RFEC_`$YVYNF#_;C3ISZNC8WB8)\HU?$VKL$G
M+#"6%=GM\#2&QO+#9,O8;M.MHR=@-0%\7-=[-92E;M-?7EXN:M&QFT"[28LG
ML+[RCYRO[D:J8W*)B)&43ZB&=V^<Z*,:>3-M9OZ3#JO[>UUZ<6M1"*RI277^
MANR>\N;I5[59ROM/B;4U`VS`:FM.RWEO8,GY7]B;UP82;K]>5BB+SD9'.+*F
MW>'!4G:IWB'(`.1^8T=*JU.O7'X>U"E_VSS&M/4V_P#EEL]W\2W17FC?I.YZ
MP.?2S-#2^YMGR.N:-LIQ?6(V1S]VJ2L<64F=??=2KN.3D)2"<I(I%<B84P(J
M/!39'YC1;;5S+?&B_7M)_P#6N9-4]1:KM?#+'].P[*WAL)WJ;45^V4R@"69W
M2:V\GV]<4?(1HRRS(I3)QY'KA)=!!98X@4O)1`1Z!F%ZZ&/TON/:TEAZB4;4
M6DZ\->K]#@I[YO;M@*Q92;$T5!5;9[>LZLNE*J;2_J2];M-6V?;V5*!"6F/N
MMFI7[!!2;Y(RK7VCA[:A3D./(@&FSS/36H\-VW-R>.%.BF91S7^W=9<U*E8O
MVN!1H\)4JG)-/WX89%2IY`;YK$S=(HFMXN>VJK>M/T)S5&FR'8Z[@75S@IER
M@X@I&3JK0T4S;I1@_.`B98RAAY#KF[3\[Y2KB]5I[LK23P3A6KR>.':>5_ZS
MS+&7J;>*^V670>M_,7=\\[J6I8;6&OT/(^2V!?JA9*\]O,FKKN.:ZVAF%@EI
M!I9XR(2F%B2<=*(^R@9N)TS\B<1`>G<.<<@C?DWI]3Y'#2*3M<2>UMNL7T42
MZ<JOK_UKF#BGZBW7/*2JMV%&:NO_`)<;DUW>WDHYU8#39Q=+:H,?6SO9+AQ2
M6ECMV\3ZN<QR(,VRD><YWQR+HO3B"Q6YQ*<.>F3_`.P<M=OR9V+K7$W6L.)U
MZ=ZZ%L2H<O\`MGF+EQK46DJ+"DJ%ZN_D%MZ0V1K+5>TFL3KO9%`\B]5O;@WU
MQ9YF3J5TUI=ZKL=_%I_,/6;=W[9G\*9B\9K!S\PF"A/U0@.43YWH%)^79N)4
MIBX/X$?^L\PG27J+='T2R,?U-^\PNVP[3')-=8Q-EKM]A-@2-,A*E%[8)<8J
M8JL+)S578W>5L%3C:41I<$H19(BL>\5(W5.F13J;*9<XT;2X;=Q-?Y7^GLST
M.7\BUFEO.=^]"<'%JB4JUJL3>OA-YG7[R(M%OJ%_CM7P\I"U]I8&[6L2=SAK
M7#N73HA)"MV77FP(6(E6P0C=0HC)-#KL7`]"&Y$,KGS/1S:5NW<3Z7'XK'VR
M/5EI'"-7)4]YU?MG:\UKZYZ#J\-%-7Y=M;3<TB:<N3+"M$0;"E6ZV.W\<DB4
MWOOS*UHB0%,`A[:IA#X@#.C&?.W:'G=O2HQTZY;4ZCUUC$[JWWKI[?)RO[%M
MNOVD9JQW$!1R3#.E-GTQ#.;0\EU6CZ0!LHT;*MQ[QZ!A<PTMA^5=A<E-;4TL
M^_*G4S7:TLKD%-22KOJ6J]_O"MQ&M+>,U_5JE8&%'U7KC9]U=5BO[*V5#[`D
M-@0<I,KTF@7.I-V3*HHLX^,4^5E)1(Z3AR'9[8%(H(=?EM`L%:N9;X^!VM%-
MYN/>8%Y(>2'D?MW4NZ[A0V55HVI=?;!UMKUTTG7-GKNYFDT_F];3=DEH^6:.
M6T8F$(^F"L0:@GQ(H^\)@$%!#$.;:+A\N-J:G)4K54JZJM,:+$YEHY13E542
MKMV'VQD)@:_6).4-\LJ:&AGKTIGRBB#8PP4:N;YATLFFH<A!4CC&4$`Y*D83
M=>T<Y,9\7J)^\&WW*6KY&8/JBW1MIU3N#954-2Z-M2'B8)>@03B;8QK&^3L:
M2M[-9.Q52]QU&I-@`.\Q3=G:<<ES61MS=MQ;:-5O22N04TTDS88^7?DCKFNO
MY#;<=JJQ.+AXNQ6YM>LZ;!V&`BZK/.)>KP"T1:).P2!9*6KZ\C=&:QUD3HJH
M"FKR82F+QIT>LA*3^F6%/U]L:EBT,WE*)GWCVIN9GYQ;&8;QME;LL\7QGUJX
MC#T2'D*S`^T\N]D7=MY.%?R4D+R1CW(&(TD$U#>]'@(*FY$`S?/4P=MVX1:J
M<3T;C;=SBBTC?/FGM3<FJZO15-00:LBM8;2JPMTY&TU79UAIU?:QQY$MBA-8
MLY6,D[@=HZ1`5RMP6.V2#O[!$0YQ&0^>:?E9<'5QK&PXE_J.\;<EO'F?9PUW
MA&-T@X9C-_YMQ52<MIN#LLI&*1Q8).8*X?1RK(KEJLB*"A@$Q<QSUD(3<'%U
M3Z#7#1SG!34E1KI-F27D+Y=4&[;6U'8]F:DO%CJ]G\:XBHVT*,-?CWD9N&6D
MX><_;6G,IY51A(HKLOF$P;K")TA('!>3!EMF_&]7A35"J[9E:2XFFV7NQW7<
M,NK%4:Z7>HV+9^LO*./UM&[&;5-VC"KQ]SU+(6.-G5*LQL*+2)GX!%T5#W`,
MJFKP<>SD2CEYQ;@[DU!9L^?>E;K,^,NM=";78$HVR-@7_5ODA=8VY2E:M4?)
ML;2I?*I`,$IYRUM3U)2L+J2XDD"*(E**)`]D05XP;/03^Y=Y]!]A[3\IM-1T
MW1[)Y!:DL-YG76N$Z/+U74\O+;7,6V)R*MQ;PNEZY)O&=J63&,($49<Z101,
MLNL)0+SF2>KC"3@XNJ,4K6I3?#:E**;Q63H8'JGR7\J-LR]6UE'7ZOTRT//)
M/;.FYV_VS4[*.M#NE4_69+[!NCZS3M;R"KMG(Z$R*J8+B4W;R8"FYRVS>C>3
M<4U1G/#=C_JP<*Y5VK>5FJ+/N_:.^_$6=NNTX@9B%9>6%`MK=K0HEK'[%6UQ
M:H>J+6MJ51Z#:/7N2<043=@*%9"B"20B)SB-P.ZO-'=-LT?HF7N-"C2N+6ZM
M5+HD"[+')RS:`>7"QMZ^A-.&+]PS9>Y&?/\`:B8ZI4CN#E*?X,`X)6\@_-..
M8W"A*/5D;,UGM7I529NM=U!`[>?PTV_>QUJ@H:CQUR?UB4EP.Q,\B%W2S8SY
M(!,3DI#!FQ:?3M5>HMKW,QO4:A5II[C76BP%N%]W-LWQFF)/=#E_-4NP>3]0
MN,;.ZDK50DG4[!4\[QI`VZN.U92/"20@':!'IFBQT"II@JEQWB(Y[L(6Y<,)
MQFJ9KX8E]J<[D:SA*#KD_B(K=?DBMJW:\M3]O5O7L9HKQYTQL.%JL7K."G$W
MDG9:X\?RAY4LOS[,-(>QP@D3_B"'#O`.,K+395[W+NC52NPZ/8=YR\I-/ZMH
M6YU"TI:]AIRR0\SLBPO*R]JE,J[(L?"O@EGA"HMS22Q$T??[E3=A<`YCE-C;
M5V',4^MVS;.PV:&J_,[2K*,;[`JNIG=X*VLU*LKI5&6?UU"9@?9C'Z2Z1$#G
M(X#W1*JH4W9SSYND_P!Z'>;O03^Z-"[4[RW\HG]N@+I)6$I:_8=B7^ASD;?+
M;HZJ4"LHP4A-DKP(U6.FW&VD+3$E8)+*IN1!F*:Y1%,`'@=5JWI;L.-:BVE7
M<QZ&?W+O-Y^!.]]JV+;Z5'W)M"]SKZ^ZX?WJMUV?/JZZ4*9696)!HM;-3WW6
M+E`(JDIL7B2"$5(L4'0BIW&[>S@5VS9MQXK=V$Y5R5:]95>TTK,.-R35:'7O
MFG/W)JST-6Z-LN>U*\V;Y"4374Y9Z^UA%Y%:!?QT]+2\2V6EF#M-NL\0B/:(
MH(]A5!`1Z!F<S'$E8V;O6HCJK8]G\D+A<XA]Y377QTE:S(UJG'K#JLP"UG:Q
M\]/C$(L7KFW1KNNI+'==X&63[R^WVF$P`<TL?-+?D'8XJ0J=_P!A7I6_Z<W?
M?(*`OTGJHQ+Q(P-=))U&V4W7E,*\LM:K\0:/<G,E(2!E5S`!1;%*82AIMV;,
MX<4[T(2W-.IKM:25Z"FI))D%^W=8];7QO?-?>1"6^+HX\.V<R-LF7U06?:S8
MWS:VNV-SEH*1CVK6'AX^-2?KE0:/2+GC#MNY8G0!S-JI6M-;5Q3C.3DU19K/
M'J=.\Z6AN-5XEWG>7@SL?:TGM7;&MK)LR+V13:U2:-.Q[Z2VQKW:NP8.>D7L
MBV>H2L]K.N0D$,%-M44A1!5=PN0X"02`4.X<<=9&4N%1=>M'$]+*$.-R5.IU
M,J\[4:J^WSX<15OVR^TQ#RSO?\8O=8:P1U5GTE'=!:$;1<3891D\;1(OU`%1
M9<.PQ$F_8(\*"&;#*<BK>2^]8#6U>NA[3;9J8WQ#;)\:M/S;QNA&L+?L^"VP
M:&TSMUJQ;,6K"*?W6B/7KQRH1,C=8(LJH_`<HX!]UZ<VDV-?AHV:?A+S$7$1
MT;+RQNWW7\JT:I$D'!A*4I0(NXY.4.@@`]0YP#*L`8`P!@#`&`2E_P"R/]GY
M0P"4U_,-^E^0,`QF0_\`PCK'_-3_`/\`8!,`S#`):I.\@E`>/0?Q=<`M#,X'
M?.0XX[&I"C^']8<>?].`3XG_``+3]$_]8<`NF`,`8`P!@#`&`,`8!(7%0"A[
M?=SSU[0YZ<?8.`4W<Y^I3^@/^S@&&;!>VMC3;*^J$0>P6QE`RSJMP)U09(2\
MXDT-]SM'#XY03:H_>ID#',)BC[93>H`(8!\R('P<V1K^'TUM.O7R^V/?=$O8
M;*M50EKHV:ZMDIC:#M%IO*`C6K2%:NFC56*?+JLU%'"Z1W31(P`!3=N8KNJU
MD)N%J$W!98-HOMVM%)5OW(1EN;53-=*^,^S*#%^)"$G!T]@XT[?=[V'8ZC)X
M<SU*#V`>Y*UE2+=,V")IF1=(RS8SQ+DQ2JE[1#@.,NT]W4WZ^=&2:WIK/K.9
MV].G32R4UMX:/X=V_8=)>7=.VCL/0EKJVH6T&ZNSI]".4F<R=JD1W"1=A1>3
MC.!>2C-['QMJ<QB1RL7:R!TTESE-P/`9;==RU;E<BGQ154(6N.:C--0;H\#Y
MPI^*OE0VEKW=PJ#:=>([?\9=ITZO7;;Y[?>;,GJ![,1EOAK/L`\-$1D9).(A
MV#EA\JT^43%($@Y[_B\[\CK%L=.IFOT.D?\`-B;/IV@?*2M3DGO![1J1-7__
M`-2NP]JM=<K[`7;LEJ#L#7L-76B9[>E7145M-;=1"1"H"W]@`[P*<>>O2UNO
MI^R5.ITH1Z+1U2KGU=^&!:*UXG>2!JE+(6B%H</.RU?\Q#NXR$L)7<*G/[[D
M^ZG(1[QQ'BZ;F:-`_P"(5!'V4S%`PE`?75I[NIO\7G1DFLJIE-[3V[=/(JT\
M_;WGTNU#&V^*U;0X:[5^/KMAAZW%1DW%,)TEG1:OHQLR;E7)+)LF"3Y-X=J*
MJ@E(*@&,``;Z0LO2G:MNY%/B2*86^.2A)8,^7LAXJ>6%DNT0I8"0<PQK&^FV
MR4K7);<M#""<TQ"<<2;*.JFGHR#2JM<LC002*NY=&>*NB%[C*`<<\Y<RU;=4
MGV,W2T&DC2KSW4?P+2_\,O)UC"4YC#P6OU;-$5:\5UAL.J;2N.O;;1YN=O\`
M.6*"EWKA-D^C-E4].'DT3.HE^S$XN4A(57LYYE<QUCV,X>ET"SDJ]5?TS-HV
M'Q=\G`C]E:4BI#6UAU/O2_-+M?MMS\A)I;$KI':E=D[.6.IB$1]U2[Q9_`^U
M&&.Z$&Z;@>XH%(`!KT]^[?BY7:U3HNHS7;=JVTK.3SRS]Q]-YZ*^:JDC"LB`
MF92#6C&*;DQQ*0QF!F+5-R9N"IC$()R^X)0,`\"/IG=ZY<M6W.TFYK*AS;A"
M<U"Y^QYGR\UYX8[AIVE-M:UD9&GR,A<O&JB:E@R=[HS4MIK#&T(O'$LY^0!1
M:"<IR"`>T!A`J@G$H`8PCF/UVNVQG7J9K])HMDE2O0;!KOCWY+:\LSFH:]E=
M4M=/W:VUB^VV>G"2;J[U^10811KC7(2%/%R$%9D9Q]#$*T>R!FXQR8@!"F`/
M;QZ[7?;+L9SZ;0[_`(=OMB:K-X=>35*FJ/:=3VW4PV=O2?(O65B5N4996T7&
ML=LW25MM1ML4VKR933C^M$[$W39VHDFI\/M&#GC'KM=]L^QG7I-"FZR6'5[;
M3&GO@OY05K5=VUQK6\:C<.-YZ)IVIMO35T;7%0*_-U2HN:HYLM.7:(J24_7Y
M:.7%$C!Y[*C83]Y?B`386MUTGC&78R_3Z?E]JYQ3DJ4IA3/VZ:=)2W+]W+LI
M_/SR$(CHNUU?93'7I[7)[/B+]+V37DW5Z+"TVSN:A$QLVPA+5#6=O#%*1J\%
M$Y$U5"*&.0>,Z];KMD9=CP-U.68UFL*TQ34MV.SWTIO9LN(\%-GU_P`C(K:T
M);-=5.NM-HHV^4M5'B+96MO6VCDA3MF^I[2RCGXZTE:RUD%B'(JY9*K)$0`"
M&*(YSZ[7?;*G4SR?2Z-K!KBH]JIMV^[KHSN_R%UQ9-NZ:V!KNLVY>CV&SPSA
MA%69FF[_`/O9)',02&6.S.25"(=HA[+@6JJ3OM./MJ%R?6ZQ91EV/VH5K3Z5
MO&E,\UE3XU[CYIUS]W7N1".V9(25NT)7)G8FLZW07M+K6K)NR4&4+6K0-F=$
MMSF_3,K8YN)M"`"W<$,<RR)Q*9$4Q+D>NUWVRKU,M>DT5:*2IAC5>W7T8EZ6
M_=Z;3/JM"GN+/I:Q(_M=)3K[3-JI]OLFAXR(<PR48RA:"67GEMC5)5%XB#PQ
MFTDFU*<>PB8)E(`2]9K9)QI)-X9/;@<QL:*,D]F>S9O]J]`G_P!W#<U(REGC
M;?J[85F::R;ZKN<GO;7DE>V1X=K*N).#E:6!9`7\<-4*Z4:,VSTZB/RY"BJ4
MYSF,.#\/K<O.[ST_S.B_V>[Y%98_W<-Q?VFD*L-@T+]EZC$:[C(^74UR6(VS
M3'%&`I9,=9W&KR,0A%1%J*4#"W>%7!MW=I``"\9*Y/K6JJ_WF*ZM%K;SOM*'
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MDZ]3(P/L]-1*<O796`<&421DH1]#J'9$3]Q(CR.5CSJM"+]Z8F(1413`_(>G
M.>A;G.Y:4I_N>>PP0C-:^4J/@KGLR6TX6TYX=VG7Z4.>U[00L3JM^/TUX]5@
M8&MC!$;U9]-GDXZ9?BLHZ<NK#%-"$0`0$J9^H]O)A$:M3?O6%%VDW7.B;[:'
MU+U%IP4<*[:M;EN;P-2D_=IN8^/KL34MKQM+;!1];4V\*JZ@H]TF[`ZUO74:
MJUL\'9;4F=[5)^2C$E"NUDB*E,"@&(E[@<YGMZS63N*$XRX6Z/!E=Z_;E:DD
MUDSZAQ,0WA(".@VJC@&D1%MH=BLV*1-Z9FV9$9)*]HE]LJI#%!3L,42"/')1
M`,WGDGS%J_[M5I6K1`/93;:TW4:S.6^2:5=IJZF0TY8F%TC)F'EV6PMA,4E[
M5:Y,(F;710>`=(1,/<J03<"'CWK5QWI-)T<GL9ZMF_!6XQ>Q+=[=9L9#P>L<
M[57='V'Y%[)N]5K-;95[4L*SC(>EH4)Y7YJ'GJ?;)1Y%*?,7RZ5=6&9)-EWQ
M?E_8;F()>5##FO1PE%2XDUELH9-5.,VG&FVNWV]L"K3\.MA.$VMLF_)_:4[N
MR(F6<Q5-BC!UUM5:<(5U[5Y6/B=1*F"NDBIR-?*!+&5<F=/E0(?G@A0#:4V6
MHW8MTHF5B7A9(PL93Y"J[UO4-MF&M=ON%QVX-:KLK*[!>[";1T;<6LW7W30(
MMA%KMXAH5B"'N+,?8+V\E[N[H]..HCD^&FZJ_A7L729GJWQ#@]7J5=\WNEHM
MDE5J#L77C9].(1";J4;;`MKBW24M*KQJ+9%5\G)K"4Z@)`'(B8`)Z!XL[-SS
M)-1=*O8<O40>%53!Y]OO]YA4GX-Q#^*K]?A]I6R)B&.HJYIBPI$C(*6<V2$I
M=M4O-8D'+F2:+'BWK:575*L4@D*JB(>I^!SCR;E/VR[&3ZB%6W3#IRV/^*^&
M)M&>\6Z[.0-]AG]DL+EG?-IU?;$HQ,HT/'-I*J'A5$(%FQ=(.FR,',#!(`Z(
M"1^@B;M,<!$7DW*?MEV$+40<DZK+?U5RW8I;SA?7GC3Y#R6]=5+V2N7;7NKM
M,;4LM[3@WE]HMJU(FP?-)(D/'ZVB(V!8711R^7E/?75D#&2:J&.5,A>T>85F
M]MC*BZ#N5^RDY1:XFO?[SZ.^25(E]E^/VV]>U]!)Y/VRA3<'$ME':;8YY)TS
M$K44W@B5-NZ37`#)*]`*H`#G2L7LN"78S-RR,H7E.XG&''6M&M_<<Z4KP?J!
M:LZ;7^][0O5WFE-;_,V.U6*--/0\1K)VSF:_38EQ%QK9F-;83B9UE#^V+EUR
M'*AA*`Y,[%U9QEQ=3/5U^JMO45CPJUP[-M6W5Y4;KCTUJS>\AXX4>3O<ML%Z
MK.FFYNVT6VO4CR2!HU23HD,^B(DC5)9%=1LT.215,L0.#JB;H(<!QSY-S[9=
MA@6H@L*JE'U]!@UR\-*%;I.5M+:Z;*I]\<7^7O\`%WNHSK&.LE=?SL+%5^8@
MX8R\2LR&`DHF*22,FX15,7@3%,4PB87D3VQEV,/4T:7TNO3[=G><W[[_`'?T
M'-:P&*U`ZM3Z[R:6IZ4^D[#=9'WU:O7-P1&P+=83S"Q5I!O:5%A=.CG!4J7>
M?A`I"E`H1Y%RF$9=C.UJ(5^IJG7[5J='17AGJV*"+?SEAV%:[)'[+KVU)*YV
M^S$F;#99>J0,E7(6&DW2K($$JE%1$VX0(R032[A4,IR*H]^=>3/[9=A4]0WD
MXY88Y?/N6TMU:\&=3U]5TU4M.UYFA_=5PAJMJ63OSI/7-`C+TV6;6!G3(J-:
MP[]@0Q'!_ECN7#A1EW"+?VQX$"L77APR?11G:O5;4*<6%7M[%XF4Z:\3]?:@
MN+C8"%MV/?KFC5&M$B9S9=J):7%8J+1V5\A6JZ;[LCUTHTBY0Y,HHNJH4H%,
M<Q0XSJ.GNIIN,L'N8N2N25$GPOH_78;$W3HNH[SB*U'627N59DJ7;&%VJ%KH
M-A7K=IK]B8MWS$KEB^*@\:*HNX^4<(+).$54CIJCT`0*(>P>2<_M_P!W]HV%
MA&4=5)K;]4?QTQ?I1Q9X+:EG8VR<_P`T3M%=@1<]-K?.J2T9.+L4U>#D`4%$
M^4#I=QA-XVKG;CJ)5DE*BVTV&ZQ>4;:@Z4Z:;\\_;,G3?[O[QYDQABQ2.QJ(
MSCZ/"T*2C]9;`L=+CKQ3ZQ\P,/$7Y"%7;#956H/5BD44-\P'O'`%``PY3!1N
M86WQ.FS$N]0\ZPSVOX>)+NG[OKQUV+-/YZ=B+>V0E)2J6.5J$;>+7!4"7LU,
M^2+7K'/4M@_0C)&<8,F"!#K&`P.%$P45`ROQA?;LW/,7TRS6Q[R)W\.%-.M5
M2M7CN]_<=DS,#!V&&?0,LU0?Q$C%R$4_074,F9ZC)M7#-_R)1[FYE6[I4.\H
M=W"A@+P`Y[7#+<S!Y5W[9=C.+XC]WUXTPZD0Z;1]_F5ZW7+=4:N-CV1;IM"O
MU:XPY827KM<CY9^K$P[)&.1(DU,5N11(I"E`_8`!GE7]/>G>E)0FTWN>[9@>
MC9=V-I*G=ECMW^[(VO*^-.F9Q"*2G:>RD$X76SC4,8DN^EUVY-?N4V"2L"]*
M42KG,?[M;G]\@@K[B)3`<!*`Y?HK-V#EQQDJI4JFOT-"E-8T=%T9]6/Q*#3W
MB[J'1MIEKC2XZ=/:+-%1%<EI^V7FTW&56@80[D8:*15GY"2^391_SJ@)D**?
M(&#O$W`<;J-8G-]2E9G@Z);L#9&X-%ZXWG'04?L6)>O%*O+A.5F5BI^P5>9@
MY0J(MEG4=+UI_&R"9E6QNPY!4[#!QR`\!QR>(<S[.\*=9N]82M:U'4JC#W6/
MI%CJ=3E=A,INY0"T+:K2WLEJ:3K=U(GE7S^RR[!)5W(&4^<36`IRJ%XX'R+U
MJ<KLFE+-['0].U>4813<>&E,\5AMJ\C`_&3P*CJ,ZO5JVW"T4MCNT_K.?"IZ
M]E+O*0%:7UB@Y<U9<]EO<HZLL[*)R+SY@_><6R8D`@%.01#-6BA*"EQ*E:?J
M9]7<C<<>')5.SG/CUJ!U,OK(K5CC-R5VC-D/GA)601%U=X>#_9J,GUF[=^FU
M%PT@O^'!("?+&+\1DS'^+-RSQR*+4N"XI88;S%6_B-XZH1=;A2:PB%8BG5*V
M46N,7:SU^VBJC>735]:X,@/GKCWVLP]8HK&.L*BR2J93)'3$.<[I'VH;WJF]
ML.\P6/\`!'QB80,S6FNL^&DQ-1\PK*2=CM<A:VS^%!9"(&&O#F==VV&;1S1P
MHBB@@]31!%0Q!)P8<\:=N7')*$FG)X^_8S7'^XYPE"/!_IJF$726%*NN>]/#
MHS=<QUCXC^/>HW44[U]KN&K#^OVF1M\2Y1D9IPNVM<Q7#5.7G/\`CWZA7DA)
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MVPZ9XLN7Z5R;>HBJMO\`>O$U_G;EM4\J;HJ5X/")>T/%#QP:5ZE5,FKJX:&U
MU-OK/3D5%90CZ&F9)BYC)-^:5+)$F)09&/=J).0>KN"+IB`*`8"EXUZ9:;20
M=I7H2JZ_N3V+IZ"N>HO<P?G^7**7T_M:QSW=)F+#1&F8R/GHR/UM5&C"TU^"
MJMB018=H35<K,>>+@(E^K[@K+M(N/4,FD`F[N!Y$1-US3ZBQ]\.U>)5P3W/L
M)=IT%I.[A+EN&L:=8PG8F*@Y@)>*3=`_B(-=9U#,5P.;CV8ITN=1N(<&2./<
M40$`$'J-/_N0_P"9>)/ES^U]AA;?Q!\96M6<TF/TAK^*JSN0AIIW$1D*6,;.
M)FMG75A9Q=1@HV<J3<:9PH)'HG^9X,/<<0SYV7]KMNJO4]_S/1\]1_F3["ZQ
MWC+X\PMZ>;-CM.:^0V`L@9!]<$JXS-,*$.T!)15PZ$IBB[49FX.N(>^<@\F.
M/.;]-_;T;=GAE>^JKVG7G*>*FDMU47K6^A-(ZADYR;UEJFBT*6L[Y1_.2M<K
MC"+>2;Q8RBIQ5=))`H"8F.8P)$$J9?4"AQTW6.61T<_-C<XFU2E:^_N,^IE6
MVEQ<6.]=.XV/,U.O692&4GX-E-&KDPUG(7Y]`7)(N:9(.FS:1;$,/MD>(-WR
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MB[68T^`B8!HYD/9%,[E5.);-B+.RH&$O>/)@)T],YC;N*XJ1:7$MC./,3@W*
M594:S([OK/7>RFR+'8U&JMY9(HN$F[*V0C"<:(IO3IF<BW;2**Z*2BYDB@)R
ME`X@';SQR&>QPRW,PFL;OX[5*^;'U#<)N8?I5G22AI.J:NCVL6TJ;*X@V-&0
M-L5_X4KULM`UQ9RR0:D5*T!!7D$N\I#!R#IA))%(!*B0A"_#R!/3X2@4O0.G
M/:'K].`3<`8`P!@#`&`0F`HE$#<=OT\CP'X^G&`4;(3<N`'GM!0`)R'3M[`]
M!^GK@&.R'_X1UC_FI_\`^P"8!F&`25S"5,1*/`\A_I'`+8T*!7J_`<=S0AA_
M"/NG#G_1@$V)_P`"T_1/_6'`+I@#`&`,`8`P!@#`&`,`\,/:4QO7M`1_$'.`
M4AGJ1"B=3DH!QQP`G,81'@``A"F./\`#Q@%&9Z)_<`Q$R<=P!PIW&,(%Y$"D
M.1)4#E#J8#%*(?1SG#LZZ3K:_9L,T]7RRW-POR7F)XKJQ:["B3>$4'M()%>2
M]Y3)J$.4R?<)>X!*8W;U#T,!>H<!SP.3+3<VBJR=*.F*1FO<TY?!I:%Q;>='
MV?J>&>D*`B!0,//:"9%$O=%7M%3VA*90A"F]D.[J;CC.[>EYE*:5YIV<WALK
M3XX8%'YE4K7VS^9Y]X)B5$2@/>N`BDBH<B2I^.O:4#F[!,!0$>.[D.,W/E\5
MQ57TQS:JT1^:BZ)/%^XK"R*8(E4X`2=I>TQ!*J)A'IP'LBISUZ<AR&8)Z37>
M;*$***;I7##WT.OS5JE7XD"CTAO;*(`"I@#A,>[M[S!W&3%0"B!3E`/I`/HR
M/2\SHY1E%)=0?.;=:)TEN]MI&#Y(R8`'PB/8GP<HD,502@8$S`/4I^WJ(9W#
M2:QS7G-.W2KZ5_$E\YM\.VN7O))7:)N.#B(\<B!2G'ISP)@`2E,9,!]3`'`#
MFIZ&*_E]O'H.?S,=^'O]O>2`DF@NDV@*IF<.""JU2!0HJND$SI)N7"!!$!,@
MU47(4YOH,;C.GH%&#FXTBL^AYI/I>:Z#V;;\R$9I_N2?;B8SK_8-8V?7$K;3
MGP24"N^DHU%[V]@F?0[U>-E&YTN3&3,S?-SICR/Q<<ATRK5:26CN*U))2I7#
MN!DCF59LTP.X<LT#&>`R!-P]21.*XI^[[!2B4QSO3I?$1`H")^GQ!SF8$2LB
MD@NBV6%`CA<H'2:"\1*]5(/)A,BU6]HR@I$#N4+R44P^O`*I9TS;K-FZ[UHD
MX=E5.@W.NF5PLFB0RJJB"(F[UTTDRB8YB]"%#D>F`4@RT;RW`'[`P/$5'+(X
M/VP)/&J21U3NFR@G[5FR0`0#G+R4GN!R/U@:SOV[*5KJ'K4W,J/Y)I;+]6M<
MPJ=;;EFW3F?M+X&$<<$FZA2_()*@85E.[X`*'01$,`O&JMHU;<=)B;]33/SP
M4PI+)-`D6GR;TQH.5=0TD`-O<4[C-Y!F<@AR`X!=H^^U"60?.(RPPD@C%K+H
M29F4U$NS1RC<QTU$Y`&SQ5./<)JIF*=)<R:A1*/0>!X`N,#9H*RQ_P!Z0LO%
M2C'W0;_,Q4DTE$`="(A['O,E%4N1$.@\]?J#`+478-.-(R<1^TM<"5ABK*2\
M6-BAOO.'21;J.17F6(.Q7C4%")_`8P&Y`>1XP"M6N-8;+,47,]#-C2:+EU%@
MYEXUN:58M$2.5Y*,!1T!7D8FW4`XKE$"``]<`U/>O)'6],J+.X,7AK\P=W*J
M4I1M07T+8G4?(6VQ-:ZR=2/RDF=)NT;+.#+*CW"/L)&,'I@&V0N-6]J,5&PP
MARS4JY@H@[>68.D9&;:@[,>*;.$%CIG?=K)7E/J8HD$!#D,`UM->1>FHB/NL
MBEL2F3!->1,K+VUE%6N"<2<<E#LE7KML#`KTRZKL`2]LI1`I14$"B(#TP#&J
M)Y3:POL+'6UO(1\)2)6F5"XL[58;34F#`P71PJVBX%TC]\G792AEDP3#W>TA
MU3=H<#@&P&.\=.R%+<;$8;(H2E!:N#M7-V;6V&<5)!XDY%FHQ=3B;CY-L^(X
M*)/;-U$P<!S@%ZAMCTNR5Z1MU9LL!9ZM%I2:KJ<KDU'3#$H1*2;AV4'#1<S3
MN(@IW#^MX+QP80YZ`<C5G]X7H6TO-2ODI`L-3-K56_VJ&O4Y.P36%BS4*=:0
M3F`F$V[EVNVG))=8ZA$A$H))I]1-W=`.F;?OG4%(5KW[7;'H]:)<1:?LJI.V
MR"BRSQGYDP9DCR.WJ;ES\V54#)'33.D<!``/SZ`9E/7"N5:+D)^QS,3"5Z);
M'=RD]*239A$QK4I16*ZD)-X*$6T;*-`]T#G<!SR4I0,)@P#7E8\B=*W5A7I.
MG[)IEE96N2<PE:5AK-#OSST\TA9&Q*UZ*;M72SEQ/EA8\70M#D35!NH4X`(<
MA@$BX>2FBM?Q3F;NVT:;68IK=W6MU'TI--T6I;PS42*YK)UC`!22[4KA,5D>
MHI&/VB(B`X!5SGD-I*LSM.K,_L^F1DYL!F$C38UQ-(E=6)@83]KZ*1[0,[8]
MJ*AC+%^`A4Q$PA@&K+!YK:1+KK<5QUI<:IMN7T]3K!;I^EU6>0<R[Q*O)KF<
MM690;B91(RB`D,X`HII#U$!P#/\`4^XD[Z]V*,C#M8)*B2-,;&5^:(9%-"T:
M\@KJJ]4.8I"IMVA9P$C<\B84S'^DH8!RYHOS]AMS/YNT.D-;U?647+[`9Q]A
M<[!.M97,-0$'SQ]/R5>D8N/3A&;]JR%9,GOJ@1$P',/T8!TA7?+CQUMC*Z2<
M'M*N.&=`8$FK2NZ<*1B;"O+"F#>RHGDTF@R5><G5*FD[;@J154P$)W&,4!`M
MK/S,\:'E,GM@_P":]>CZC6I^.K$U*3H2$`I'S,TIVP35S%RS!K,)%GR#W,5/
MES)N@Z$-SS@$+WS$\<X_7JVTG.RX7]C$YQS6@>(-)EU)J6%J0%5X(M?;QBDZ
M>830'W3($;G,"/Q_F]<[JM[/.=[GE7P1?#5TPV;#$X[S7U6\EI.::6^C+Z>9
M:O9;#->6L[(.)8I'=A<U[M/5RQ8K(H*/B$00(<H/5'::J9D2E*0QN6ZO`U:>
M6KG!O6*EVO=_&I"EYJ:OO%<82^F)`EY?)[(US2;-#S4)8*S(5V,O\RWBF=@?
MQ%@CX>73:.$W'NM%01%)?L,4!#U""\VEN+R<U%HEQ5VFRYQ_%/[FK(DJT3#P
M$W:):290;'YZ:DDXNOL)!\$;$)<"LJ)."@8/7`.>EOWB.FD-T2%$>S#<E`8Z
M4KNV"[)086A["G"PR*[5A%G=LH5U&H*NV92*)\G%1594J`%`X&'`+#?/WENG
M8G7!+O06]EL#]MM'7=!L5.L5.NE8MM=;7A^=H29DJQ]RJ6-!HFT)\RW%1`$G
MA1`J9NO(`;G4\V]!!LHNKSS%E0E1LK*FC8GE'M[:A&N$G'LI&,JB%V6A"5]:
MP.R2":0H"LG[:_<F(]P<9,6D\<BF_/50A72*MVO=_&AKL/WDOC&:4D(5%]L-
MY*LY*RP3!K&:KN\F%GL]/F',+9:C4'+.(5:V.U0KIH<7#-N<QDRASR/`YU6/
M29%?YTVN*,J5QPV=IF<YYW:"AJC4;@U=7:UMKN%D-"0-)HEDM-S12I3T8B[N
MIRGQK$]AA&5-G2BQD556XE;N."CU,&<'HEKMW[P3QZJ`02ZSRYV)A/T".VHU
MD*;1+/:&+/73^6/"K6J87CX\"1;&)?I'!Z142J-BIG[P`2&+EBT^AN1XKSMJ
M[C6N?1OV'2X=N9.TEY7J;5\BMYZ/:5.PEKVJX/7DC7+X^A9AFQM"EJ@#S\B9
M_*ODDH]J!4WS8&!"%$SE`14Y^$<LNVN7PMQEI&O/;^I)X);-F/61U9$+WS\T
M*RVA8=4K)[!"3JE^9:MLMJ&@V'_+Z#OTN0%H.NR5Q3:*Q2"\N@<ADS]W84RI
M"F$#&S.<3<U%NW_J4=.O9WEE#]X3I@S6YODZGN%1M3[Z]U:@`:UF?F[KL..F
MGT(^JM`9@(JVB0;N&(GX1X`4S@/3.^)=)YWJ.?;(,J93S[U%&Q$0]_8K=$C9
M)BR353#5\9JZ?=[:C9F`@6EFD23%%!,KR+9HPCL%Q775(GP'KGH682E:4DZ(
ME:CGWVR["9.^=6K(]E77+.I[@F7DU3E=A2$!`ZTF75FIM/2470/*7N"D!BGU
M>53<-%2BB`+CP03`80]:-5&4$L=I#O\`/Z81=>HMUK\]=.5-9RJG![0M,/%U
M:H72Q7&HTLTK6*K6KPU,O#2TZ^.^;+M#(]H@LB5)15,2#T'C,F)U;U'/7.,;
MZ?D-_5U;3%*_YY*,;QOZN6?4^X)R/UW=Z93M9(TC6,[,/;XA9*XQDX]1I*F5
M)%*NI8SD[@3N3,VK-,.%UP$Y,@]$M4OY_+S5NT5"4[65_31O.Z[CJ395<G:V
MT);Z1.5BF)V%A"'*WLK9F1Q(.#=Z;A!9R@N0!$HB7GD"\:[\YX-"L5E&5BME
M[MM,NSOEHL+W6NN6;12DTNIW2P5M1_;X$)TC*+!B_C5&9!1447>`W.MVB!0#
M`+Q9OWC^GX!U*N(VB[;N-.K]*H>PK)L&L54CBL5NH[%(^-7I>9%\Z92**7>S
M!-<J2*QTCGZAP4PX!WHT=H3T8F^CU`59.V+258N.P%D72*P+*-B^V<`(;WDB
ME$Y1ZE[@#UZX!\F[_P"6GDC$:*>0-4=4YUY/P.^]F:YDV3F%8_=HU#5+:3OT
M[,&@TGSA1`SW5)H]PW]LRJOS#M,HD`0,(`72P>>SACMJO3K25//Z:0\:]5VA
M[!0$/'.)^];KWK)R*>MH&N/9EU%I1`_=%>?N'15%TFR**!CJF`><TV;7+[D*
MZQQ5Q25*_;MIT[B'R^6L^M?RX':V@?(RL>0;&S(1,'/4>X4J;95V\T>U&ASS
MU<>R;#[U8+I/(=[+0,S$S4/RNP>-'"Z3@I3\`'MB(UW+&BMXV)0E/8UA[;?'
M&BC\7Z9^>Z]JVX',6C/-:R&3D6&ZJM:HR%?;]V7J.K[;"-CDJ6XE8BT2S:I5
MIRT:+??"2#BOQIA)*@@HU6<IF1#XPZ5'1:;+^\(B;30;RTK<3,Z^M,UK?8UE
MT_8)&<I<T%B?4N%?31>Z(B960DZ[).6$<HX2;2;9,12#X@ZB`;(Z7DU8RE.&
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MAIJJ^7NV*AL[9,#>]16=_KJ+WA2Z`VNZECJ!4=<!L&L5T8B`9PK%1:0LJ4?*
M2YDWCD/;*@;IP;N#@"[V;S_L-?W*WU:II9!LC+6V3U[5GTENFBH['D+85A(#
M!N'VH0<KV.'K$])M2MV[MX9,IO=*L)`*7M$#._$_R4OMJ\.S[UWJR)$R=8;[
M">3;MO)0\D$Y%4RQ3<6X?L?N4@-$@14CC-2]QC'5.GW")>0P#7,W^\,N=%JS
MZ3VYXYSFOI>7U_);+TXR5ND'8F^R8:&7BQDH15Q&$.,#;6\).M7X-5RJ=Z)S
MAW`9(>X#,]R^=CO43_:U>:ZS/;)?7<-H*49(HV$(,EE7WW.*UZ/9D(Y9NC0P
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MVL\I:+E%EB8(]1\F&5'2:R9D*^I'S4]!0<D=FQ?@D"JB*"9RD#N`H>=J4E?D
MEE7]`?<^@NIX]4@'=H:),[`\@H1>99MY(\H1"5/&-C/^Y^=HQ3=*'6-R)R(I
ME'GTR@&:%<@8Q2]@AR(!SS_T8!4X`P!@#`&`2E_[(_V?E#`*1%8$@$!*(\CS
MZ\?1@&*2KLJ5FJ9!(8WNNK$`"`@';VQJ:G7H//(#@&;I*`J`B`"'`\?7]&`0
M./[(?M+_`!X!;FO^-6_Y,G^]4P#R/$X1K42<]W!N.`Y'\X>>G7`+F@)Q(/N=
MW/</'<'`\<!^`/IP"=@#`&`,`8`P!@#`&`0*!R0X!U$2&``#Z>@X!B\Z?Y6%
MF%SJJ-3$AY;V54^2.2JE8+K`=J;CO!9(B)C!V]>G/T8!\5=/:^F[FZ\3&]LV
M[OM^WWCJK;,QM=-SLVU1_P!Z/::+1[57K0&#M`:\#=P9<#I(@DHL3O`W<`9#
MYYS?22C8T]Z4+5NO"N&#I6M:-Q;5=M6V4R_M_DNK4]5J=-;GJ)-<4FYXO#.D
MDJTRIAD:"E-SN'VK:P6YW38#'8E8T+-A57]YV'M6A,;I*Q=NV,T;S]'@M?13
MF:VE>H^/@V@*$?$%JB1-(PE'W5!RN']S<^M<7EZF2XI5?TPQ;S?[<V:K7]M\
MBL_Z6FMI99RR62QELQ,OE9BS6ZD[?W,7;NV0M6OJ#XAS^L1AKK/,X5&6ME/J
M;.XN)"JI$59S,A,R2[Q.0!V7VO=]PIBIF`>'_LG//*=E:B2M-8I1@ECG@H;<
MRU\BY15/T\/_`)?]1CVU]P/R[E;3%$M-K0N:?EI7X-W`RVP-V3%T901[.C`S
MAINCUUD&K*5J:5B3MCM?F%P.*2W>90O<`CF7.N:J'EJ]+@I2E(TIN_:2^1<H
M;K+3PKUR\3958MT(EM'1$=3=@;6/Y+/;-NZ-V[3IR=V`A27DQ%PML?L(Z9:/
MUPJS%&.E2,ON5-@<R*S(P&(*@"4PZ)_W)SRY8]/<U,Y6:4X6H-467\I$>1\I
MC*JT]M)94XO$U/K.TV&9J][&)O9W=C=>/NS%=TP]=-O*6N$-L)O",S$<7!:W
MNV%6JL^RMAU21P1ZB2AR=O:F?H&62_NG^X9<+EJIMP=8_3#Z72F'TX8-K#8/
MP7)ZT]/"GOQ[S?L]HV%AX_:"L(OMI.<H_B1KW9599C?-DOA5VV9I++J6L(]2
M8=N).QD]A%-5H8IDE!$"&2#N$<ZG_=/]PW(.%S5W7%K*D-Z_PY?J<?@N4-JF
MGMTXG7]V6/2:FVC.;%D=V3#ZR3LK#VV:)I28TNK/Q6]'5KEX5U!U]:U(ZVAM
M7O$*&[^;E1<&>-Y$%P;AW^\<G`@&*/.N;6X\$+\U'<E'P._P7)Y8^GM__+Q-
MEJ5*9^8L^T&\9L0]Y7_>"M:9$KL9NSE(EK:RN(2*LJ;:,-).H]M4SM3N%E`(
M4Z*0I"8I^XG?EBYYS>E%J)T_X?`S\$+?T05(1P2W)8(Z2_=]VO4>OJ)':0A0
MEJ]?9C9.XW+R`F6=N0.\EJQ8';R757<V!`4T/>@WK=8A6_ZI0``P<B;D;K>L
MU6M7F:N;N36";I@L]E`:#_>&.TG.Y5Z])4D;`F?3XIPSNW0&Z-@1LY/.OO(&
M=9U[2=6,T81A=BNR-W"TO)//<0('ZKM,``->IE*%ERBZ2P^)=IHQG>49*L<?
M@<UR#F\K3FD[1-56[3^Q)RC:(*%'OVO-I-+82:@W39M)&U?M6F23EO558YVB
MN25B)A-,#`0YE@Y.(YY?J=1]S/2]/8^U'TY\](K9,30Z)NK659L4[L*A/Y&`
M6K-4,X<2CB`V96GU2?D*W[':3C[BDI1-=0QDC'(0IS`8..<]J.2KG0\=YGSD
M=:7\C$J)LBA5Z/V,=;PXHC'7&NY9ZLXE)?:M;OEKKUZO]A8-EONN(L[UC3&J
MD.""2QG2JBZB2?8<"CGGZN[=A=I!M+AJ;M-;LRMUN).3DTNPN6M*)>W;V2M.
MMHR^GUHYWQXQ/TX!AH>:T_48>0B+XC+6NV0U9F;/,V%R6'AE#H2DFLP1:"0H
M\"00$PQI+UV=WAG)N-&3JK-J%OBBDI5/H9J**OT+X/[$@H_7$R]M[`N_DX"@
M/$9*NR=B=+W2SR=;9L54',;(LF]@0>IJIJIB4RR9RF(;J&>D>>?*_6.M]A2[
MG8PI:-VA$TZQ^,4A7[3&ZRT0XT4Z?66)V-!65O7&H7BQS#_:$_&QJJZ:;Q^J
MW<S#8%DBJ&$><^=7]UZ1Y6:^Y^)]!+^UM3%I3U"5>E'TF_=SUZX5JO[?:2.L
MHJI5A>]02E1LK74\AHA:[-E(%->;D9W4R\I*)PTU`R`$:+.VARI/E2BH`<YZ
M^BUUOF-CU-J/#!MJG4>3K-#<Y=?]-=EQ3HG7K.%=<>-VS7.^8FMW2A;,5N#+
M:MNE+Q;6NE:&A!VW7<W(S<7)J3'D0^F$;#8ZU/0LF@91@8@O$112!)$I@$Y=
M9E-F1>E?(0E)W=^W&GY2W/?'745AT3H&'F&)3Q^V(9W9/O=6^0C9E+-9=\M^
MRITV/RYRE^:*U]KGDYA'F4E"+F\HIOLQ.HQXY*"SDTNW`UK5]'[85AMN.(+2
M5R9,)P/'":J#U'3U+T^SF5:9M)L_F8Z*HU5F)5>#-`1)C"J,@!':S7N4.`D`
M<\!?W5IFDU8PZGXGM2_MNY";MSU45<6RL:HV_!U?;3&4H^G(GQOOZA=?^4^Q
M=M3UMEPC(K7+ROR_[:/:X-<L+620=2!Y(\TB"AB)D3:&6-T'M#)_]JTU:*SC
MU,?^MW.!7'J5P-;U\,_=2II>@Z&WG.WRNFL7CW;&9&6O-Y52RB.J]>TS7K.3
MOE<G$(%@K)QMDD[MLCW'RR0!,NR&(BX$IQ(3.X<[6O\`Z=B#MN.+:3QV4Q.'
MRJWHOKNWHW5+!*JPVUP-DQ'C_L*UZ6B:LV\<+7308:8\;->SU:L-6BF"\S8-
M=;B17L;8&K"2".<QS2OH*/C/^PWS+-;A3XA,&6>?J?ND<>7I,Z1[?F9MN[5S
MG6&V92SFUC!'T^?:FIY%AIQFA2ZY&[5FB4>;CY8:Q`2[R'H<P\@I8&CE9JJ`
M'<K%+V@93NYCS]0EC)DJSII81BG@=$?N]V<3*:K\A486D0U$827D!MQ",I;=
M2/?0L0@Z,U:I-@/7EW42JT>`0RZR3-0Z*1E#IE$!(/'J6)2E9C*3K)H\V_&,
M;THQPBF<_P"C/&*X#8M$1EY\?%(*L:LUKY.T:PH6&%J)H"0G[1<&CFLS<7',
MY&32=LK%$KG!LX6`CH"$$P]0Y"]%NFA;GQ*:3>%/U-&*>)GD&RK4"2P:JV_:
M'%IT=7]>KUV@S6GT&]7EHE>VL'D'99G8*;R5B(F2:N6*Z#V.*<67841*80XR
M&F:KT-,K<G%1XJ8?(^B>Y]`[!L'B!K[6,#"K7"S:V-IJ;E*58+,H_6NB&N9V
M'G)2LJ6A5.,:/)E^5F"95G2(L5!2$HCV&$<'EG/ULT+OJY2FZ_(.C:7B]675
M-II^T:3U!.2,`SDYC:^H;#+3[VVVA]3EWU>C36Z"DU(-P4BON.V9A(HH<`+P
M!;[IXI[E@(/QYN+6"V)-6!"`VDYW;5M-3U)@;(6_;GDV]PF94\K>8]]$3%=@
MI-XK&'(D7YQ5NDF8._V^@UZ566I>;PUPI7O-B:@\6=DZ\"EG_8B/3?U;Q2O6
MOXE.SS47=FD%>;!LQY:H>NKR)8]JC)F^['94U%BLP8-B)=A3]O`Y-&:7#2-Y
M*E=C^-=GMB<\0_B]Y53#^3F5*)9XIQ(^-6XM9*,[S:M=(1ZE[GX))"#B:S7J
M#&(1U<ICN4,N<'+YR=18!*!N!$!PD=<.BW0P/I'X[ZNO-`LVXGMHAC-8FWJZ
M<-`F&21D"OD:KJJ`JEF$&#4.^'.E(1/L=BAS@N!`.41*/6#RYT4VH_MJZ=1Q
MXX\1=TDH%:JB4`P<NVMC\QGDL4\RG\O]V;=9S"-#37-V>P_$S<$43$$OM(IG
M`@%`<')L7=OC=NB1:P4AJ^MT^,DHOQB8:LD0[(I5T6;1LU7D5H6#!VQ4:*.&
MD1&NR1KYP0[9FX4(8Q>2]P"ZPH.ZE<_9\C4U8\5_(!_;;9.6>DN_N^S;)\;;
M,4-D;82V=8UH'6-FDSV<EB71B(R$2?A%/O<;-F!56J20%[3@IW%+-&>@X:)X
M_30VM.>.V^*KLN;VY1Z=1[FI&>0%DO\`"TV8FD8!S.4JQ4"(KIGL/,*Q<@QK
M-S;2:CH1.LW,"B8&#DO(#BK3P,DM=JVG!S?#ELR[#7UA\7/*N=<V>Z-(745(
MMUVU:2-F:W3"-64;'3#7;4=;FT*PL#J,D4QM;RM)K^].`U!$KTJ8E*`<\X-5
M<NQN4MMI</ZGI:/4:&Y:XN8Q\R^I-)O[:8)TIA6OO+?J'Q+\B(2X[-OUBAUV
MA+S-Z`D8V.M^V'&S;VT4U;;'I)HLQ;G\%&E6CPA"MUVJ20`GP4``.?7-Y^H^
MY]Q&OGRMZ?ATD(J]58JN6TZ7\P]!;!VXMKR3H-2AY>9IK6RH(3:&R;3J*[U)
MY.1S=J@_J-XKC28%6.'L.5\R68+`Y*(``\]`>?J/N?<>+0Y7F/$GS9:L8%:,
MLM$L5VF?'FG:EOEW4G$X12*?4S9![:+6";K5E<)1&;AW"K8'ZS=-9L<"B0GT
MA'G:I_S/N/0IHUFEWEM3\*/)Y9;?-C^Z*HPE;M/^.<]2(.;W?=-@R,FXTEL`
M;C(N+]<[)7N]LZFFW#=,D>@9)-(I4Q`"<YBU#YM*X_(N-0HMWOV&[3SY/&VO
M/MISJZX/'*FW9TE3#>"FZ1O(IV:KU*8J+G<;+<RUOE-O[.<NH4`LR5^&O?Y0
MU]**I]ILT-/]S%O(*J_+';)IF,F8`#C3RS\CZA^KFY6N!X.F=5T=9SK-1H;5
MI3Y;%6[S=&UGP[<ZYX=)T=5?%39,6Z\9W,RX@3):9WKOC8-C4:O'B[YY6M@-
M;FG673$S:-9I*V$%I9LHY*0G:4W(=Q^IA]N5>%[Z,\IZS4RKQ3;XE1X+%8X9
M=+[3GJ0\!]Q0[*L3T3&T385GA;5Y*NQKDKM#9VIH5E&[MVN_V;`S#:?H!2RR
MKZ)%R1J^9=H(.TC'*83&`!#Y-1Y[@W>E7W>!J:TGVHW-KOPPO=#CYUDU_8*-
M;RWA[,Z&;Q54;S+*O1%VG[+;K&Z/&-GQ'SQ6M$//(E5<N#*.'!T14.7O,8H^
MSH]+YFG4]:N/4NJ;;:;5<*TILH8;W!YK\M4@;)T+X_;4TYO&]69XXJ\IKR_:
MLTY6GSG[PE_VL9W'4]2+6CECH@C,L(YKTF*QE/F5C@\$I``2@0!XVVM-8L-R
MM146^O\`5E1Q=6-"^0&YK;Y5:W9*:\KV@[-Y:+6^XR5@:W`-I.6L(E1[.T)3
M6;`ZE6=,)Z2B11(^7,)T6X]Q0Z"`V3;4&UFDR8MQDI1_<G@;`NW[O[8]NT^2
M"-+461V+4_*;:'D+38>>5M9-<3D/>;5+.4J';35QQ&3;4IJ\N!B/VJG>W=B4
MQ>`YSR_4:AJG&^XV>NUB?$INO4O`QEU^[IV>.O8=&-K?C4VL#2\NIU]K@&>T
M4*E]QKP"%>CEF>VSR_\`FRSML`B!W7S#=5!!TJ<2&Y[0-F.YJ>><;6GORC9V
M+#=U#UVLS\Q]W@>6;]VYM*0AJ0Y&WZVVA=8_5<IJVW.]U1UU>QB#1W/O9:!D
MJG*5V92M;F.J[&258E:2+I=1XBFF*O;U$=W+;W,KKGZ^Y*XJ*E:8/&N2ZB/7
MZS_<=?=X&]&?A+:&U"W1K^-G:;$H;'TEKK6,,DWK;QG6(:5IJ#MN]?I5Y!1R
MFC'OB+B!42N3G`@@/<!A-QNU3N>FN>2Z7>!T>Y[#F>MU5R/#.;<7U>!BFU_!
MS>]ODKDE6=@ZY;5&RR^I[<XJ$XRV&SB[++:_IS2LRU'M;FGV&(?EUQ85F:3E
M4B!S./<1(44U`$W'S5>=?[LJ>W1[;#/0LNN/W?FX]6,H^7J=TTS&V:/\B4MV
MIPS&B6EC2V\3(T9*C6"M-4"SKN=,NU:`<6"JBRH@3M$0`PCQ"_-?[TN[P(H7
MJH>#V_=/0Z9M';5U_$VFTU&TTW9![W2IJ>K*[64M]NM5;LE63;22,FQFXD;0
MHV7;*_J%R"50X]Q.OK\J>MX9^LFY.JI79G7]"#+T?`.0BJ)M#7<1?A&#O>A-
M=:;BWTM$O)"4CI>I.UWDE:GZA9#N4;R+E^X.5NF)01%3@/A+P/K`[IH$#?*Y
M]]1UEFH27@4#0+2D-XB&=QCZ*BHN!9QDBC,JKNW23Y9[*M3N$3)@7L34$H\]
M.`.88CQ"&%\P;=Y/&NDH_KMFK3Q@TU,:*+]R0%YF(N+@+)L)FY,L<GWS8ZS"
MMX]P<$^!1(4#!^<(_-77S5:B;A=EY7$Z+#!;-A[D'RZ6EC!VX+4I*LF\'OPK
M7K5,JT9S:V_=>H,=0[,UVWV0>3L5CV_7MD:^L<_5$)F$I4!KY*284#5<Q7I%
M0Q+'1F,#8))@J0BA!$CHRG=R/.;-#IKEZ$GS%^;-/!O8J984VF?6:JS&<7R^
M/DPX<4FL77/;XG6'B?XP2GCRRV`O.2U)D)N\6=O/$CM;:WB=946OM&K;Y*/B
MHNNPA1,X,*)2G76744]M03>V)"&,`^C;TFFM2X[<$I>_Q,-S47[L>&Y)N)IU
MMX)7B6L)ZWL7<S:Z>/">V+3N5KJI.C)PD\K8[`]DG\1"R=Q:R*I7%>@I"36<
M`1-%)4JJ9![N#"`Z"DQJE_NYY:O+248_O6O_`-EF%-LE/J"]4TI5:G>EQG8B
M3@V[_8=O;HG?VO[GBI$R28I`D=</[0P\CF1Z'1MU=M5]_B"][`_=U-+E+V6V
M%OC#]KC(:F-3?VGHK"\U**7US0WU%>%L-7F#&86-K:4)%<')2BDJDW,4"F*(
M`;'H-'_MKM?B7VM5J+$>&U)QBW79GV%3(?N]22N@76JG6PTH*]N-BM=F-=@Z
MTH%6UXVK4TG'D@CQ-0@(9J1G'PAZXJNQ4!4RBBC94Q!$>G#T&C_VUW^)9Z[5
MIU\QU]W@1[G_`'?R=\FF,SKJZ5V@J'HE?UM9V]GTIKW9K:3@*F4&<3-5Q&S,
M%R0-I:19G#=%?N%,Q%^13[OBQZ#1_P"W'O\`$CUVKR\R6==GAW9'0NQ_&[]M
MO'0FAHFXR]?*PA*JTAKF2+9.IAI+TN8CIR&DEH94&4<Z*D\BDA!N84T1X`!Z
M>NLRF#(>)4J^A+<%AV$^?VR][3U_MF:L#2O-X<OWS0'$0Y+&E8-GBZ3)E,DB
M$P6*B84^\.@B&`:'A?W9J41LV.O".ZY5*#KFWS;NKT`WU;3$;$>P.W"BJ\7<
M]A?*JV:_1C9)PJ5BFN9`[$1+P40Y*('36IO%I'6.F-@Z,F[>^OE(N,UL9VR3
M>P;>)?Q4/L5\\DW,*#B'3,F8L;(2*RB:I$B`)C<\?1@F-.)5RJ:)3_=Y(S,!
M+0>V=W[-VXDVUE-:KUHYF6<%%R.L*[,&:\R,2K%-$4)RUH$C6"/S[XO>9LU$
M@EX,;+."*S9]"[O*I22A8MI5VMY;?UW["*/_`'=WWG^V<QL#R`V;L.VW<VGT
MI&T6&O5"/<MV6E+,:P51@WBH2'9,B]_($<K]IC+G$Z@]1X#AJCH>/K'9EJ).
MQ%0M842=5ECCTYG6/DAH1CY#:N4UQ)62;JJH3$'/L)^":QL@HTF:X]3D(]5]
M!3:"]>L,491,2K,GR2C=4@\=O(`($D\SBQ*U"3=Z*E&F3.2HS]W2P@2VZ7AM
M[[:8WJV6G7=T;W1K#TF.)4K/KEG-Q<*YK%3AJQ'0$;"/8BP.VBK$$1*D02F$
MW^L,I*IJC?T7$JVH-56%7[T7^'\!(ZM0:?[+;JW#![&3V3>MGJ[<0=5Q2X2$
MALI"+8W*"<,#PR4&>'E8Z'0(F0Y>6RJ95`ZY>[DY1I*3?9\*&[S>6IU\BU3*
ME9473Q5Q70HX[SV/_=V:Q)K**U>>V[#<QL/K#:.L8Z<>KLSSI6FR[^SV,]GI
M!=9DFS>3=?LS$AF1O;`ITQ-SW!URB;<I-MU>\\?4NV[\G:BHVZX)8I8++WXG
M<=1@Y2OU^%@Y26E+*^A8:,BU+)+D;EE9DS=JF5=Y()L6S=B1TLL3N/[?(=P_
M1Z9R4&4`14!`0(<!`>0'M-_)@%8@*@]_N=W^KQW!Q]?/'0,`J,`8`P!@$I?^
MR/\`9^4,`IVZ9#E,)B@(@;\/U!@&-RS=$TU7E#)%%9->1%N;@>XIE62Q5O;`
M!X$3IIASZ]`P#*&Q3%*;N`2_%]("'T!]>`1./[(?M+_'@%N:_P"-6_Y,G^]4
MP"9$_P"!:?HG_K#@%TP!@#`&`,`8`P!@#`&`,`DJHD6[04*0Q2]X\&+R(&,0
MR?)1$>`^`Y@'D!Y`<`M"$`Q:)-TVK9FD#(@)QY`9HD28ASP?Y4$BIG;^^GP5
M0"&*!N.H=1S'<TO'-SXL^@OC?<8J+6"KD\_TP*=Q!Q_*7O,(Q8K<5?N\#1[8
M3,BN$A3>^T8Y3]AG0K*=W9V`(&X$!ZB/'HG]R[#M:EYT==N.>[LP'W>S!`C5
M-FP^7*FDB1!9LC[!"(`4K8H%*F4@@F(`(`8!`!`..,>B_P`2["/4NN-?<\_;
MH*=.):E4>K),6!7;I0@.G'R[5!R_6('ZM-X[;'.HJX3[0'XN!``+Z>N1Z%O.
M2[/F=^J2_;%KWX+JP.8-?>'VI:%L1'9,4[N]AEXUW8GU2BKI>96XUF@*6!8`
MGRTR#D55F4&N8>U+N`RJZ9/A*H`<Y'H-TN[YG?K:JCCWT.HR1C1,1,DW01.H
MM[Z_L(II$4.H':Z$"%(`"#HGPG`W<!O4>O&=>AQ_=W?,K]4Z4ILPQ[*]3(RM
M!`"@;V/A_NTU"\`4"F2*43',(D16$YRD-R0.X.G3K'H7]W=\QZK_``^VW9M6
M&\F?+%`Q#AP=5,PG147`RPH*'`2*JHAW$`AU2&'GCH'T``=,GT3^['J^9'J4
M\&OIZ*8[JX;#WV_A(04B*$2'@G>(="B02'4`"@7M<G`PAW^H%$0]>1S,]-JT
MVE;;6QU^1PY:>3<G<BF]F[O+.M6H5Y.0UD?,&B\Y7_O).(DE$T@=M&\NW3:O
MT"*E(!A*JW1(3D>H@7KSF_1V[D(-7UP2KAMPH5REIZ_ZD?;WE_*`%`"IBB0O
M?[@E*4#"*@#W%.'<8?B`W7GIE]ZW&=MQC+'#9T]8C.S%UC-2>Y$H&J)A-WN/
M9)R(D3(=<H#W")U!.05Q3'O.81Y`"F^CG,7H:YRPZOF:%J:8TJZ;:?&A5"5$
M""4JQ5.2B02%Y*;M,':(E-R82B4/0>N;U@J&1YE$]<,&J3E_).FL>R8MA=.9
M!\NF@@T21*)5GCETX32:I%33`O<913C@/0/IRWM-YL^*M,-Q?;O.W'A2V]O0
M6I[.0\0S"7E9=HRC`*F(2+EZ1LP]MPHDBBJ:16<%223466(4`[N#"<.,KCIK
MUE^9:7FS^W+WUQR.=1J[4;?]2D+=5C[4+\0R9BE$5.T3``\&5]X0Y_\`F"<P
M"'U<#QEG'KG_`/MW_P`W_P"DQ/6:-.GF+V]Y97<S#LWL7"JO62<E,`]/%QA7
M16\@]^[13!X9!L=S\VLV;@J'><J8D+R7N$.XO/;T>BI16_;L-/G:MRXI33?5
M\R\E!(A2@F9(I3!WE[1$/SOI'N$PB;D/7G(X;EGZ-+9;L[Z[=NPGS%/'47%Y
MGZ;-IY[:I#=ZJI#E[>T!.*(KB(_FE*H!$^[D>G`B`?3]&=6YWY2I<M\$:9UK
M[LD0W:?^G+BEU?,M4'9:M96[]>`F8F?",D7$/(*1#YO)ILY9J<4W4:Y.Q.X!
M%VS4`2JD-U(8!`?0<NHG@\B,=F9/EI.&@XN0FYYXQBX6'8N9*4D7ZA&S".8M
M$Q5<O7*I@!-%NW2*)CG,8`*4!',ST6C>'EJGMT'4;^KBZJXJ]3\2T5&Y4^_U
M>-N%#GH2U5.53.K'6*MNVTO#R9"+';J?=[U`XI/$P<$.F)B#P!BB'T#DK1Z-
M8.VJ>W00[VK;XG-5ZGXF2%*7D>UK\N'UF[0.;\!B`8PERN6AL4_HI0>WI+HZ
MF_7^M+B79XD7'01`#F$![0*!2]QC#QQV`)P$Q.1ZFXX#^#./1/[N[YG?J?\`
M#WF&;$UC1=H5\]3V/4H&ZUE=9N\4AK'%M92/%XU5`Z"Y4EC`=%TV$.2*)F*(
M"/TACT7^)=GS)6JHZI-/K^5/;`KJG1JG1*XQK5,@8NIUN%,=2.A8:-:14,U]
MPYU'!FS"/*4I3+&.81'@1$XB8>1'-EN'EVU#.AGN3=R;F\V90<@```81$X&$
MJGM%%1-,W`#VF5-[10'M,`]0#+$Z'5J[Y;;I6IBMMM]9H<*K8K;,-(.'070;
MK/GIQ3;)J.E2H->3E`YE`66.4OZL#CR/0!R:ED]1Q1<:9F5E<BW3.IV`H4$D
ME51*H`%2#W.Q7J)>\Y$RB)@,!>#`4?3.3,8]5KA7[NP)/U&1;SL.=\\9E?-#
M'*D+B,?JQTF0`5(0PBS<)"'0![_HP#*3JF.*8`F)SF[A$$C`8I2`;CO$R@(B
M(!TYX`1`1^G.HRX3N,N$@(<%#@4O4IAZ&#T$.O`\<!ZYUYG0=>;T%5[/_6_T
M?]./,Z!YO03@#@`#Z@XRLJ>+/<`A,7N*(<\<\=?X><E.CJ3%T=25[/\`UO\`
M1_TYWYG06>;T$_*RH@,41'D!XZ?5S^4,S7M/YLN*M,*"K61YV#])@_%_TY5Z
M/_%W$J3VGO9^'_1D>B?W=WS)XB#VO^M_H_Z<Z](_N[OF=>9T$92B4..0_%_T
MYHMVHPCPO%E<G*3JL"(`'\'XN/RY8E%9(A<6UGHY))3>P/\`.#^B/\N=UAN+
MO-6XGD+VE`O//'/IT]1YSETKAD5R?$Z@Q>[Z>/PAZA]@_1D');QC@_6"0R2!
MSG!0IT&Z:8IG$P>[^;P*GOI!VF$PB/4>./3.9+BBX[T"I3;^V(CW<\_]7CC_
M`+0YB6B:_F[OF=)T)PEY*)>0ZE$.>/K#CZ\UV[<8146JT(J4"J/M``\@/(CZ
M!QZ?PCEKX/Y50@A2_M"?I!D8/!Y`N?'V?B_Z<YX(;B:CC[/Q?].."&X5&2DE
MD0>Y(&`><#]8?B_Z<CAAM1'U;^X!_P"W3C"2605=I[DDC`&`,`8`P!@#`&`,
M`AX'\']'_IR:G/U[^[YD0?\`M]&0=*NW,@4()P``'C@>?3G\H9U&7"RF]:=V
M*2=,24"(@(#W^@@/H/\`M9UYBW%$=+.,D^/)[OF3N!_!_1_Z<XJ:_KW]WS(@
MR#K';F,`8`P!@#`&`,`E+_V1_L_*&`2FOYAOTOR!@%@E@XFZL;ZI"01X^V(>
MJ=W_`&>.,`RG`(%">X02\\<B'7CGT_!R&`6])/VGZI>>[EB0>>./_C*A]8_5
M@'D3_@6GZ)_ZPX!=,`8`P!@#`&`,`8`P!@#`*)\J*:70QRB<JI0`@\*&'VCB
M0J7_`,XRH%`H?2(X!\@JOYH>1K.A5/:=U9ZWFJSM*/WXWIT-5VDBUE*K-ZEB
M;A:JK(3KMW+HI66'LE?J*J3\K,A/E7"A`Y`P\"!FM3W%YD7QKJBHPMKTJUOU
M_P!*-?(J4LDC3;`M`1M:L#J&0JVN8VO-[$"SMVJZDCE?SIC>VV02$0)SR.`:
MKC/W@NTG%32.YK\"2_;-H-`=^/U?:D=O&5DV*ZN:FKMH0KIR9PFYF&%;M3=2
M0;"DH*A([M.8PAUP#+J9M3:*NQ;KH74;G75'LSW<N[Y6T7&<@9VX14HA4$*3
MW-UHI2QBN20LCZUE(Y<D.4K-DW.?L#CN`#0E'\FMY5JGZNUIJPITI6O:[F]B
M7=6"U?9]YGM4D[V5;:P>(A582RQSJMUB/?Q94#OE2OB&3.F)C"!>\:W>M)\+
MDDT#:=R\T/("!N-'L4PK":FU;)15'^^D[/JZQ7ZOIV2PO'S><:7*Z5BRK3&M
M>PZ:)(])RS71,*HB8WZO@>HSA/\`8TP=6>6>Z+MKF(UTSUO<DH.R768<N"M(
M[6TIN.Y3$(QBAD'[2F4-N_@"2Q6YEDEEG3IPW!FU[C&Y$`*/0)?C9OC8^SO'
M[9-VN@-0N^N9W:%:!\V@7%?9R[BF,0<PT@\@5%W39FZ,*P?.M47*Z91*("8!
M#C`.*%?(CR\:L])5(NQW5UO6XM;S>^UIW6^FJ7)LX^$9.8QK':WAH.:N\&V<
M-TEW)E7,BHY(<[9)7X>1`,E\WE"EOTLI<.%:/'97/WF?\#I[LG=>HBG)UI5;
M<:=].T\O?EYY)2E0IKB*G'=+NT/J*>V'>JQ1-9U393D',:Y<I1$C>K1*79M2
M*759PC4>]HS5<2B"O?V'`G;E4M;"^^*Y!V6MDMO5T$/^V])+_P#<P[2KG?+3
MR%C[-KF_SMJ=U/4C^!TB^L*M&U[4=A4MN:^L3+W%ML-^C/O=@TZ<<R()(0SB
M-(M$I(K<K")P,(2KUJ<N&,DY=!U#DFGT<_46[T)RCL3SKAD9_7/(W>JQXS=L
MYM*KNZ;:/(J0T<EX]FJ<$RDX2!862:KJ4U"6OWBV.5N+=1BF_<MW*0-%&/<'
M00$<[+S!]-^0_D-%PFG=I;)WK%VFL[71\A(][6G&OJ_'QU3/K%*6D8-^SD:Z
MJ:P2KSV&`G<)KAP+8H@7@.,`YVV5Y';NL4!L&@VW:D_9*3M[Q?WC:BAL>LZW
MI3-HZI\!#2T?.42"IL@O>FD(X:/#$%":`IC@F=7G]9P`&3;LV)=F6GK'I>?W
MG&[PHE^\;-?;&*^80]>B`UY8#;-US7TFC>3J*!E$*U9%;`?Y)-ZL#YL>+.*8
M&X,&=V]7/0R]1;@YS6%%CGM]QU#E^FYG+TNKN1M67CQ/!562]YF<3Y.^5,GM
M$EH8+&;49EY#+:7-59:]:/@M<(U")M*D$JU5CW[H-O.;NM&-B2;1PFG[CQ!0
MK;@`4Y"/SEZG_P"+/&N-,<?:NXT/^T>25_\`SK66_#`ZJ\NVJKKR>\144MJC
MIEP_B]\PKJ]()UY*=7;-H.LV$U2@G=F(:.:2DRLQ2/W@`J_+$5(0?C'.3*<;
MVKR?W78J3!QL-N.^K2U-HVPI22LE#=:8UJC<&50V!*TN#V+,V?;)C,9>*FF3
M-)VC&PS$5'13B8%3=P"'<>9STG]%6'=6=:56.PHN<GL:V7J+EZ-N>5*TR*2P
M^3NYW#;3FS9/=<N6K(:4TU=;K&:UF]2(J1U@LTJJRLTS>=3V-`+5=(69$K<&
MAJ\^7.P5(N'MB`&$)ES.YK5Y4[#MI.M6J>ZOORZ";?*+&@?G6KT;DG]-$Z]-
M>XG3NV=KNF%V85':85M(?)GR#D%*]2KQ2-*[!FXJJQ-/D*S^SDS=(R0J\BE6
MW+IX\DHA^DBM+HK>T4_ZONRLN.SMD65_O#]VM;;,IL>X)O)73<M(2EU1A(JM
M6>;?5M)RE)I/HABWD8:.7EW37V5$VA3MU.SW"#V+`&`<EO+5*TFH7U>/\A;#
MJ2=\?->:;>:/U7&3%.:Q>T0GJ''3'9,4@D/&O+8K<+8_6C4TVX)F352`XF*(
M"8`.[?$YELBW;3WSLG8&Q;RX.ROIZ;7]5/%D6U)JL*$!7)ET"+-%%R,E)?//
M%A0<?.J>R0!3[>>N`<AV[;5M=[)V#<#>0-TA]RU+R8JNK->^/+>6915:G*"^
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MSC"M:5=*TS[`:^C-KR<=4E7&HM^;,W57[)XWUS8>Y+'*R[N>"A;=C+E3G%85
M8$>I%CJ2^MB'W@DM%HI$/\H0>"`/`Y5#7Z&Y-0A=@YMT23Q;!TU!,KLAL+_-
M,FYMO3$VAYYAJYG'N+1,A0F6K;2@>94K05`1%L>(0=.4TTSB)B%./00YXS6#
M6T'=(F<B:E%;RW/LC5NNXZK>0<U07\/:)"HJS>S(#=5_:M6KF5CA(^E)JG4=
M&/7C(QR4R+Y10ABE-T#*):K3QDXRG%23RJ#R05V3MTMNF;O>MLU^X4K]W]0M
MP0[VH6FVTDSC8XSEW2C[$\C&7:P-.2D#%1JCQHL`J>ZL/P`4P\=V[MJ[7RI*
M5-P/L%H;:$-?J34&JT^RE;VRUYKJ:NS$%!"5CI"TU2/E4',JW.4ID%985#JD
M#J(\CSQE@-\X`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`"(``B/0`ZB/X`P"2
M8Z!N.XQ!X].1P#POL<AV]G=STX]>?P8!/P!@#`&`,`8`P!@#`&`,`8`P!@#`
M&`,`8`P!@#`&`,`8`P!@#`&`,`8!";M[1[N.WZ>?3^'`*-EW<N.>>WW0[/J[
M>T.>/P<X!C=D.<C^M&3,)3A-..!#H/`Q3P#>OT"41`?P8!F!1YY$!Y*/'`_1
MZ?1@$M<PE3$2B(#R'4/MP"WMS&,^6$PB(_)$#D?J]Y3`(HG_``+3]$_]8<`N
MF`,`8`P!@#`&`,`8`P!@%N?IJJ&0]H$Q%,3K`!SB4142[#)$[2E.<2'-T,8`
M$2AUX'TP#Y[^/G[OW6&LZ0TB[^S)=;L^K=]J<[*&FK,[@8Z)V'/RC^SHT:)E
MI`S>HJVB-=HHRRK1%!1R=$!)[8<]P&[;UX8:%V-7J'6[-6I`&>MJ_P#LE4W=
M?LUFJ<LSJAFX,UZR[F*W,1DE)03IHFD"C5=51(QT2GX`>>0,K=^+^DGKW3#]
M>B0HN/'URX<ZC,FW,C^QIW$8E%'"-%%4@\*-T2G5$_>91</=$0,(C@&$6_PB
M\>[K'R3"8IQBJ2U\G]F/Y2-GK3"S;FX6I@6(LKA29@Y^,DAAYZ%*+-TP%46Z
MJ!A`0YX'`*.5\%/&>7KM#JKK7_R43K9A*0M63KUBM59<MJ],`4)"LNI&#G&4
MH_K3L2%.HQ774;F4`3`4!$>?'O+^K+_,SM+`N=A\)/&6V3T-8IK5L,H]@X^$
MB&S9B[F8J'>Q5:/[M>CIN"CI1M#3S>'5^-$SM!98#CR)^!$!UZ*E)=:(DJ&?
M[?\`'K5F\(^'9;+KXS:-==@]A56$E*UJ2C%C)E;.`93%;?1<JDW?,@]E=`RQ
MT%4A$HDX'C-IR5>N=#ZBU=4IZB:ZHL14*=9',H[G*]%B\-'23F=:F:S*ZZ3M
MTX[%)-+^V%/L%0>H\CUP#%;+XD^/URJM0H]KUC69RKT)H:/IS!PE(-7->CCI
ME25C8R3C9)D_1CU4B]IT14%,Y1$#`8!$!`Q^S>$?BW;5*P>PZ6HK\E-A!K=;
M9IQ2L?%LJ_VJ)$AW47&O&C&7C@25-RBZ(JD<YA.8HF$<\[6?ZBK]ITE4JC>&
M'C,O9*K;5=/TX;!2F$5%UEXFQ<)-HR/@>D,@E$IO"Q)PC"_"CWHF!,O`%```
M..--3SE[_@2U1&21WBWHJ*V5*;C8ZTIR6T9GL/(W885,\R=R#3Y!9\S,946\
M3(O60BFX<M4T7"O(B)PSU#@OK?Q_U&TA*_7FU"JP1-3&?5K+!>)3>,85Q:&C
MIC/JM&KI54HEEVSQ0C@#"85`,/4.<`P]AX@>-\5\V:*TUKF.5>-)./67;5.,
M%56.F42MY6.6,X(N*C!\B0I3HAVD$I>..,`O,'XO:!K,9/P=<U#KJ"A+2JP/
M88J)J47'LY5.)=MY.);.4FJ:0"VCI=JFZ23#A,JI>>WZ<`G_`/IJT<-^':A]
M64%39!EDW!KL:JQ9;`9V0%0"1,[22(F:4`5C<.!)[@!P'/3`,JOVG];;33C6
MVR:/4;RSAR.ONE"SP#27^[%WQ6Y'BT>=V*GRGS*;1(I^P`.)2<=W`B&`6N:T
M-J.RGK:UAUKKZ:7J+%*-K!I.EP3Y*MLD#%6190#=TU62CF*;DH*`CPH7N_'@
M$Q_HO4TK(P4O*ZYH,G)UA+V*[(2--@GSR"2*=91((==TU5&-[5'*IA(D!41.
M?D"`(!@$<MH_54^U?LIS7]*EVS^87L:S:2J\4\:*V-R`F<V!RV61,168=*&$
M%EB]@JI\$$.`P#,OV0@31!Z\>,CQ@#,/N@D(FQ;(1*4-[2:!8M-@@1-L5HDD
M4Q2!V_"4_'7@,`L\CJ[7TO,PUDE*139*QUQ)NA7IV1J\0]E(1!H`E:H1DBNW
M-(,T6Y#F["IK%*4P\@&`9%$5]A"_.BQ0:M3R+YW)2!F;8K7Y^1>F3,X?N^TY
MQ6>'!(I>\1_-#CCC`+0[H-4>6%&VNJY6%[.W;G:H6%>N1B\VV;"FJF0C.663
M/(-!*FN<H]B@%.4P@)>,AQXDXO)JG:"4%`J(2BLX%=KA9QUW"]GDZ_%(SCHZ
M@]ZIU)-%!-<3*'*7D3=PB'("(\],WH+.XZHS)48MLW9)L6J:#5L4X&.@V;D1
M;F*)Q.JDFW3$J:22@B/0.>.?IS1""MQ4%DB'F8;.:RK<U!6R!".BXE.Z0\O!
MSDE"0[&,EG+298+L72RCUL0@K/0*MW`<X&+\/YO7G,.OT4=8HJ7\M>^G@$Z%
M+4=45JG52)I\>V:.8V-C(^.<JO8F(,M,&C6R#5L]ED$&2#!Z[3(W*(**(G4`
M?];,=CE%NS>A=7\LDR:X4,S"O1G8!!:,AX=IR0B#%JGWRJ(D,C*F(DFFG\^F
M9,O"@`!N`XSW#DMKFG0#U-L@_BXA\@Q??>C-L\AV#IFTDQ4.J9^U:.$U$6KP
MAU#"FLD!%BB8>XYN1YS2T5N<G-[74Z2?N+JM#H+B/:8B?*)&ZP@V;B=T@0BA
M/EG9@('OM#E4^)(>"#P'''7FRU8A834-I#314-(MJS[103324[404403*@9P
M"*7M)$7[/[1%$GPID'X4R@`!T#+2"Y8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&
M`,`\,'<4Q?3N*(<_5R'&`4GRG_S/^Q_WL`E%+V+E+SSP<.O''^CK@%QP!@#`
M&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8!*7_LC_`&?E
M#`)37\PWZ7Y`P#$K6?VI"IEX[O?G'!>>>.WF(?=?IY]/P8!FA`[0`GKV@`<_
M7T^KZ,`EN/[(?M+_`!X!;FO^-6_Y,G^]4P"9$_X%I^B?^L.`73`&`,`8`P!@
M#`&`,`8`P"`Z9%`[3E*8/J$.?_Q>F`>]A.>>TO/3KP'/3TZ^O.`18`P!@'G`
M?4&<.U;;JXJO435GO`!DQA&/[4D0>"`"'`@`@/T#U#.@`*4OYI0+S]0`'\6`
M>X!YP`_1G,H0EC))L5'`?5D*W;BZQ23%6>YV"6KW]@]G/=R''`\#Z]<`A1]S
MM'W.>[N'CD>>G`?EP"=@#`&`,`8`P!@#`&`,`\[2_4'X@R:LFK/<@@8!YP'U
M!@5/<`\X#Z@_$&35DU8``#T``^S((JV>X`P!@#`&`,`8`P!@#`&`,`8`P!@#
M`&`,`8`P"F<F,4"]HB'(CSQ_!@%*F(F5((CR(F#D<`N>`,`8`P!@#`&`,`8`
MP!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`)2_P#9'^S\H8!*:_F&_2_(
M&`8C9DSN7]5.`"0[>><B5,?_`(A0BGX"?[`+U^S`,T(8IQ,)1Y#D`Y_@P"!Q
M_9#]I?X\`MS7_&K?\F3_`'JF`3(G_`M/T3_UAP"Z8`P!@#`&`,`8`P!@#`&`
M,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`)2JGM@`]O=R/&"4XK]
M[H@503)]_;]`CQR'T"(?Z>,E*H^ANB>!![Q_[O\`T_\`1EG`MY;Y<=Y-*81`
M!$.!'Z.0SAJCH52X4Z5(3J"7C@O//X<F,4\V=0C&6T@!8PC^9_I_Z,YNK@MR
MG'&266\Z=N*5:D?N#]0?C_Z,\SUE_P#VUVOP.*1WDP!Y`!^O-]N3G!2DJ-K(
MY):AS$X[2E'GGGDW;]7X!RJ_>G::X8\53E^9_(JDL%E!$.2$`/P'$?\`1VYG
M>KO4PM][\`E=K]:2CU_(F>X/U!^/_HSGUE__`&UVOP+*1WD/NF^HG],?]G/0
M@YR@I-8M(I?GU^F*<>OY'H*&'U`O\!N?R!F?47[MF2485JM_R.X<5/ZM(OVZ
MB(IQ$>.`_'G%G4W;EQ0E"D7MJ_`Z?#L>),S:02^\?YO^G_HSS7K+Z;7EK/>_
M`[X5O(BB(AR(<9KT]V5V'%-<+J<M49Z81`.0#G)OW)6K?'!<3KD$JL@[S?S?
M]/\`T9B];?\`]M=K\#KA6\=YOYO^G_HQZV__`+:[7X#A6\C*(B'(AQFVQ<E=
MM\<UPNN1RU1GN7$#`&`,`8`P!@$)A[2F-Z]I1'\0<X!;U5A5``$O'`C]//K@
M$LINTQ3>O`@/&`7!%45>[DO;V]OT\\\\_P`F`3L`8`P!@%.5<15%/M``[C%Y
MY^KGC\?&`5&`,`8!3)KB=3L[0`.O7GGT_@P"IP"E,[2]"&`QOH+SZ\#U_%@'
MI5^X.1%(G7T,?@?M]/IP"IP"4=02CQQSTY]<[C&JJ9KM]VY<-*X`BG>/'''3
MGUQ*-%4FU?=R7"U3`FYP:!@%.=82J=G;R')>1Y'IW<?@_#@%1@%,=<Q5!3*0
M##R`!R;CD1`!`/3IU'`)!)%%10$B<'5,F95-,JJ(G43(I[1SE+W@(@14.!P"
M:#@X&[#$)W=W:/88PEZCTZB4.H!Z_ASS[VKO6[KA&"<5MJ_`(J2F$>>0XR[3
MW[EYM3CPI=/R1TTD19J.1@#`&`,`8!"<O>42\\<_3_#@%M1<"052=H#VG#KS
MQST^KC`++,?K7]?./3VY=WT]>>89X'\'YV`9(U_,-^E^0,`C<?V0_:7^/`+<
MU_QJW_)D_P!ZI@$R)_P+3]$_]8<`NF`,`8`P!@#`&`,`8`P!@%&[%3]44AS)
M@<W:)R=3D,82D24X$>TY"J&`#%'GGG`-&ZUW_0]DUEW;VDJ,%"-+C;J@H:U.
MHZ%4/)4B36B9=1GWNB?,-TY!L("`<CP;J'&71T]Z:3C%M-5PW%$M38A)QE)*
M2ZS>#238OT@79N"N&YQ2!)PF4XMUP72(LBHV7[02=(*IJ`)5$Q,0?3GD!SB=
MN=NG&J5.[=VW=KY;K0QIW<JNVL2=56M,&C9W)#+-JT>89%GET"@W,9="']_Y
M]5`A728F.5,2E*<!$0#D0X6+H=MJ*XGDB:6Y59L1BHZLT*FE,/5(V'55E&H)
M2LBW*N=Q'Q:@J]D@^2*W4[D41.H'MGZ?";B_TNHK3@=?$S^KTWWKO\"*O7RD
MVTKHU5MM<L@,5D6[T8*882OR;AP@1R@@[^177^6560.!BE/VB(?A`<IE%QDX
MR5))FB,HSBI1QBU5%OLNQ:'5Y**A['>*K79::6*VB(N:L,9%2$JNH8")DCV;
MQT@X>=Q_A`4RF#NZ<\YW;LW;J;MQ;2S*[EZU:HKDDJY%ED]KZVC9]"G2.QJE
M'V]XJV08U=U9HUE8W;QVDJY8-FT2NX!^JJ\3;F,0A4C"H0H\`(9;Z/4O'@=/
M=XE?K-+]Z[_`Q"+W]14HZPRE[L==UJWA[M9*:U&VW:M($EC5CY<%I!L9-^`-
M57)5Q.9FJ!'B0%Y43+R&/1ZK['W;?>1ZW2_>NQ^!5_YWUTMJ-&'<1Y:237A]
MBJ[-&V5T:PVC"O\`Y,J*R0/2O_EUD0%P5X!!;`F'53D0`7H]3]CSZ!ZW2_>N
M_P`"YL-ZZ;E:NO=XS;>OW]+;2"<4XMS2WPZ]:0DE14!%DM-IO!CDW"PI&["B
MH'=QTYY#F/2:A/AX'6E=GMM+K=VW>5;;JDZ&14S8M)V-%&G*!<H&Y0Y'2K)6
M2K<LWEFB+Q$I3*M5U&JBGL+D(<![3]HB`@(=!SFY8O6O]2-"PL>XMO5C1^M+
MAM&Z.5F]=I4.XG9(Q3)I^^V;]I3H).%1[2*]PATY#\X/7Z*0:&IWF]IFQVZ8
MK4O<*S4&+*OZZGX:R3]S@&\7;3;&CS/&;2!*9<BKE./7*#<RQ1]D5>2@81YS
M5Z+54KP.G6O$&Y;#Y#Z0J5Q::]L^WZ%`7E]\@#6IRMG8,YTYI8"&BDCQZRQ5
MD%Y0JA1;)J`0ZX#\`&R(Z34RCQ1@^'W;/>#/[9:XFF56?N%@D2QT%78F0F)*
M07<E;(-FT>@HLH9198#)IE,9/L`3%$.XP=,HE"4722HR:.E3@30O[P*)VW%1
M]TN+;6.N=;3-%G+_`!LZGN6/L4PS@6-LA*K'J6*+1AFB47\V>=;J.C&6$S/Y
MA$/4P\<D'3Z/EGX^.*U)W!#;U%5K,+-A6I26)+@*3*P'`YD(=5`4P>F?O")F
M,W3*D87)"&,EWE*80U>BU5:<#[O$R^MTOWKO\"A'S&\;RU6/NYMQT@*G+33J
MMQTX+UR#1W8F4:G,.J^DF+/YH)M&+5*O\H9,%Q(/0HCTR?0ZO['VKQ+[=R%V
M/';=8AQYB>.+6IU>\J;@IAZK=7<@PJLJU=/'PS;Z(`XS#-K',63B63<PY4S"
M[(JW3%L4HBKV@'.1Z+55IP/N\1<N0M1XKCI&M"UG\J-:1\[=Y"Q;!UZRUW7Z
MYKFQQ%AB[.:4D)9O>#OT8H5V+0JZ(%F9*,<(1R+7W%WPI&`"B/3#T6J6+@^U
M>)2M9IFZ*:KU/P,7F?,*JR<II4NJEF-VA=D;B;:HLKQPM(QLQ3Y!]!.YX2N(
M20;LUR/$VR2(@FLF!/;5Y+U`<RFDZ2O&Q*OK>HR]VODR6N5V$9D>2SU9-\Z]
MDJZ_RK=%NVCT73IX\>.3%320;E44.H8"E#J&`<GV_P`Z]4-9?4$=4)-:R)[$
MV8&N)!BZK]PB9NM.DXY9X_5DXIS%EDV+UD0I#&1>HHF]DPJEY(`F"52N.1@U
M]G77H06A@[DE+ZDFE14SQ:VE2_\`/+0JR4^V@[)(R,K#15LD&'?5;FVKT^^I
MT<L^EXJ#LR,.6)F7C55/VE$FRJRHG[@(0X@.=2G%1K3!+$\^.DY^IQ?IY4JJ
MU<?TD>4'SOTY/ZTUE=IZ8E(MSL"N#/*,8NI72Q!#`B[49R:LRFRA%I&$AV+P
MG8#QT1%LH`&,0YB%,8,WJM/]_P`3U/)YOMMRK3_#XF4WKS-T-KY[(LYZ\$$\
M6G#.9B0B8J<F(2"96!LV=PLG8)=D@XC8B)D&[Q,Y'"JI4C`;H;D!`+XW(SBI
M1?T[&>9>TG/YW9.-B7#7#&./_P`L";#^8VF9BD6Z]-9^RD94M\VB9N%?4>TL
MKF$Q)@F>`C6-(6BT[')J3Z:@G8^P@/S*93'*82%,8O-R[:MI.<J-^VPOTNFY
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MW`41XS/)P<F[;3M[&LFO>>Y8C=C9C&^FKRBJIYI[G3`J-T[_`*%HTU+"ZJVE
MQ(7R8<U^J0U4K-@MLM+OVJ2#I\4D;`L7RI$6354JJJAP+VI\B'(`;CJW/30_
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MU#A\T_N:T_*6BFXQ=*UMO!857UYOI,08^>FLI&MUZR1=&WB^/<0>.J9`M-8S
MZD[8ZO'*-@>75FR4632+54T':9P=.#I**"?A,IQ`0RN[>Y5Q+^O"2IBTI9_\
MN_N[#J-S^XM>G<GI9PE%T2K#%9XTD5.P/-_7<!5FTM3&EWV`ZE=;6#9+9[2J
MC(6AA3*U%?/1B5@O:;-RS=1C-*PM/E56O8H_]PA^U$P$,.47+NAE&EFY&5S8
MEQ8[\UA3K-.DL<WMZB,M7:E&QC5MQPP=,I.M>HZMUU8Y.P:VJ%MG.PKZ>J%;
ML<@W:'4*DC)2<)'R:[5J90QU"MCK+B``81[>>!'CG,Y[1PW0//-66K+IS:]8
M;3<WF2W#LNA536U1I(#<I.O4-Q[R\^DPDIU1NM%PT>44WSSWDR'4.7L`1$`S
M3YO*ZT\V&2S4L]JP7M0O]->SX73W>)VCJ7;-;W+2VMXJ2TL6,</Y*)<,)N,7
MA9N%EX9Q\E+0LQ&KC[K>1CGA#$4`?I].0X$:)RL2==.XRAO5:5]Z3745SMRM
MOADJ.AHG:_F75-06R3KUBH&T'U8K;F"0O6RXV`0+1ZPM:#MR1:9'LA)M)*7:
M"5P!EE6"#CV`'Z^@(.RG6_)0A3-U:KLR(A"4Y<,55FHZUYOR4+L#:\#L2F7=
MYKRM;U8:R@=NUBOM%*+!MYR,K;FN,+0NO+EF"E5<30`N]3;'22]TGOG3#@<T
M>;RIP4HW(J5,:J6=,JJ-*]Q9Z>]7AX77W>)EJ'G;!OY]-H74.V&NOYB2LL!1
M-NK-(TNO+]9*XQFG(P\4_0D5)YHI)O8!PV9*KMD6[U8O:DHH`@(\*?+$L;\*
M_P"67=@3Z>]LB^U>)53OGSJFO5BH65^E.J1]GU!8-R._:(S%Y5ZY`+)1`-IY
M))0Y"3TC<5!BVS<HBF98H@H)>TPAFO:C21FU:FG#>J_Q[?@/3WJT469CX[>6
M4!OFP6.C?L],4>]U&`B[;+5><FZI//5ZS8WKEC$2Z+^FV"<CDCE?,5D'3902
M*(*@':'88!'B%ZU<?#!U9Q.S=MKBFJ(R;>OD6GI2=U=5&U#M^QK;N.R3=3I\
M+4E(DID7\'65K.Z<6%S,24>UB88&+=83.>[O*8A0X$#!S;EBRLT:V\[#V*4H
M%>HVD-DVJ=L[&\2%PCTYJI1B^K$-:7%M3KZA<B/I!(AW%?7?MUVWRQE"/TU2
M]IS<]:%J;#RDN_P!BM=_>;ZMD;`$=*UR:C(*R1MN?ZRL25FI5B>[#+2V$E*2
M!"TJL2TA::N[=0T.JX2!XF1(2\=P$./8#U-C[EW^`H1U3]XU#/\`55FVK=]9
MOJ62*1J`5Y)MLBA6NJ6QWL&5")IT.C<H>4"(J[YV\%+YW[U31^5`RG:H8J9N
M'J;'W+O\#N%N=QT@JLM$7^\=^]XIJQCM+6*4V8ZV?3M6/M>U[8VO+%\G+7V&
MG9>OS$1=(66>UV6@7B$&8HF%-)TU[3F.D)0*=0M38;HI*KZRQZ:\E5QP748^
MY\Y-RV?:'C/4ZYJ*0I[>V[GONHMT0$Y::U++U^<J4.632AVLRD1$[U+[B4"5
M%TU`3&`P)"/(<9>4'9OE5?-C:W\=MK7/6<6O/7*LTV3=0QAE&,.=LX3$WN3`
M&F$UF+K[J;(&<`"O:54I1#J`]0.)F/F=L+0>M*<QVG2I>[/H2D5^YWBXW;;F
MKHJWS;:QJ%>^Q3HF*(S2V!*QC-XB<I6K=JBH@<A/;[RF$1W"W.XZ056C)Y/R
MUOU>LLS#TVMRVT[!?MWUR@U*NV>Y0=)8UR.G-8M[\V!F\CX20,V9D:.`,LW.
MFLY$X&#W>>`"&U%5>2+/37\^%T]WB4.D_,>ZUM:^L]TLI5_'GOODN\@+($DU
M>I0*&FE$)+_+AR+&*0(X]N!!5=!<B0F.0@E#E00(-/J=/]R[_`>FO_:^[Q/H
M3I#8;_:VJ:-L:1KSRI.+E7FEA3KSU=1RO'M)=(CM@FHZ.FD*YS-5"&`1*4W!
MNI0ZAET9*45*/[64RBXMQE@T<M>6?D+.Z&V/0G;4+#*QJFG=VVMQ4V$@Q9PL
M]+4AG5W[9"6.HU5D4WRK9ZJ@R714*BBLMWJE-P42R=PM7+E>!5H9)H+R>NNQ
MMC36J-IZH-J>ZHT2!VA6DFUW0OL98*'8G(M6ZJD@PBH=&*GV+THH.$#E/VJ$
M-V=Q>#")=B[&+E*+45F9OY+[NLNDZQ`35;@*Q,.I>:^[74M?[\QUW1*NS!LH
MJ:5GIMZ59=P*BH%230;HK'#N[S%`H=V"H^;^T_*S9VVM0UK:-)L,MJ:<-JCS
M+BY^)J-T:2U=6N&HHF+%M-UR=2;@C,*I*M55F+D4@%-%83$$AQP#Z_UN<<RU
M%K4^DJY>GEZA"31UA.(`\,\KR$D#ODOMK(%5<&3*8"%('*GYOJ(`?..F^;_D
MI=R:3>LO'6G-X_R!1NJ&N`<[:79.T7-!"2D9Z4NS?]EU0AH5Q`Q"J[8&YEEN
M]1-,WJ(@I7(YG.-N+G-TBBKO7GSL"ITNIW8-<4B(8NZ]/25V/L#::5?18S5;
MG9F#E*_48R%A)JQ3"P2<,H1!XJU28*)<=R@&`V#+^0T>?'W2\#'E/-;:]7M5
M[VI8(*O_`.2,AX_:2V)2:Z[G'#.:86K8R[B.]A\DC&/':GS4H**1_9X3(W-[
MW:(\A@UIIJJR9<FG[PZY/(FP1\)KZG6J\L[_`*WI426#NTTI0Y)/8SAY&$E3
M6.3K,;(,E:W8&?RCUK\J?L`2J%4,53DHDEN_)O8.NG6U&DO_`)?1MO;[3KU7
MGY2[[AG%M=TR2E->5FQO$*HT>5Y"PRT9[ISE!A'-QY44,8!)SR(ZA"5R7#!5
MD6#3?DW;?('>?C=,NWZ]=:.#^3E.NE:J%@DG6O[!.T)*O-8V3:,;%%Q4D[02
M5<&.W2>-SK-%#',4P$.41%OIKZQX73W>)W%Y6;GN6G*!7IC7L-`3EIL>QZ-0
M8<EK?R,=7DGUHF21QG,HXC/^/^7;AT$I0$#"<.>0P4'#%L_>(W"G;-F=?R$5
MKR24UM8:[1;K"PZ.W)J\6>T2+".^\)"D?=M==5R/@H]Z^`G=*K"JOP)@)TY&
M4VD5RY7S+5OS]):E.SE5-+%9YM&0Q'GALB1WI8M83T+KBALVLA:X:.JUID;I
M6=J+(1C!92$L\`]F8(VM+2C,N2%`K!!Z+Q,IQ.8I/;,`FVSJSRGFFGEYM^U*
M-IK!UC2KZF:X=?O'MTZOU'K[<F[]?T<]>W34+78]:M:"]M"DG#258;E,SC;Z
MSD$UG,G$S+)0KH[F)0*=L(^V;O-P`P:%I[S;BHXK/(K&/[Q#<:;R8I\E5JA.
MW62>:MBJ%--*CN>@T!I,;,M)()]#79Q=H&/?NW-5;%^9;N61R)ODP$@%[C=!
M/I=1]K[O$SNZ;&\QVNT]"P-FD=2$=QFU+Q#SS&@V"W,(S8\6SU?-3S1";B57
MAG-:<$=)I@@1^8R1%@!R"8)!R`JE%Q=)9F9^*/EOL[;FTGE$V.G4("4?0UEM
M@T)Q4ME438U'2829(UI$`%H*\J^SXXT>3WR2T0J1!<!]Q-'L$3`.3Z0B)CHG
M]L!]SVE"D!P)E#>Z5,Q2BO[:A5.>\`$Y2F`P=0`0'`/A3J:Q^2;BQ>*Z!-B4
M"1O$C;/-AN$Q*,[P]@$XBFRZZBS2<APF0-9EF,D)S1/ZX"QK%TBFF;]6*90-
MBR7G=N^R0E&-KV%:,9P=0H[(M:375.Q]IISLLG8;!7#U-H[KCAM^R3%VY@3J
MEDERN%$#*@0P*"4`/JM3Y:H_^1<4;JS6/;@OU-MKEVMO6U=M6V[<LG58]K/J
MOIR\O-@ZVHUTEHUW`25HJ$%.2$$\2726BI"0;>Z^9G([$SWN0<\E_6>A>`YY
MYRF<M/)_^/)25<\<5OR75[BF_IKVG?#>BXNM-CQI6F#>\VD"R8B``8!$1X`.
MO\F5E!,P!@#`&`,`EK"()G$!$!`/4.@^H8!3MB$$IQ$A1$3=1$H"(]/I$0YP
M#%[*(D>UH$Q$@J3BI."#V]PGC'10`>..>>>.N`9@0"_%V@`!SQT#@.2]#=/P
M"&`0./[(?M+_`!X!;FO^-6_Y,G^]4P"9$_X%I^B?^L.`73`&`,`8`P!@#`&`
M,`8`P"B==_>@!!3#DY1-[AA+R0B[=53LX]3@F01`/P8!\3-/^/3^R7K2<9M?
M3,A8J:RMOG++21;1"`]@(Y&Z[$;R-3>OF8*($.YG(A,Q6BJG*@=X]OT<5/FT
MK$G97\N&S9_$Z_%V[R\^7#5].\[V\%JS8J3XP:IJEECYF.DX)*R1X1<VW,W>
MQ<,A=K:,`1PFIRJEQ"*-BD*8Q@*F4G'3)AK?6MR_F7\/T$M''1NBIC^F/ZG"
M-WU/--]A;-A!\>M@S?D1<?)NO;$HOD%'P_NU.`IA;%67L0Y1V<1P"U8@ZM1H
M-1K*PHI?\6LJ)`[A'.W<=E.]]N)SY:N_TGE+`N`1.PI*2U7J=72>SXUWK;RP
MVKL*>M[VI&&B1U:D2[$>5RP5"<5?&*K'V5U/$^72(41:"HH50I0%+FK\W*,G
M*CXLNP[7)K32HXT?2=J^%.K":S\<=7QR]+C:/;W59:+75LUAXJ.E'4R83.$%
MK(M',VRLS*)E4*4%G)U3E`.AAZCEJN^<O.?\V/:<.VK+\I91P[#D_P`I=7KJ
M[6W@O:/'RQ;U5V=KB#KVCK)#5IM+M]=34<Q<HK0:LZHI[M&.%D?EE2/T"^XJ
M5,Y#CP4F<SU\M%1+^;'L_B=1T,-9]4J?3O>\T)8M>3-FV=Y`ZE-II]MO<TE!
M^-$"VWDW:02D/KJU0%%3))V%],.GY7M54A_DQ>MBMT#'=*"5,Y>TXB''YZ62
M_0Z?)(</$Z4?2S>M>\<+5,7V@&V!JEO88*&\@_(6V6)_9(.OJ,3M+!K>+B8F
MX^RF0K=VPLDNR,9`_8=<'*G)P``R?SL^G$C\-:KAPM]>_9UFGD?&W>AH?7L>
MSU7+?*4C2]JC)V+DG#1(\RLPWRWM,3KDZPNTVDLK-4=,XMRCPW*($1#@!XPN
M>W-S[B'R:PLY1[3-K/HZ[[39VZYQ'C?-ZVIUSNOC8V2U-8&%7AI!0*#9'CNV
M7FQU."<O(1@W;QRZ;;M(`+.$4P,8!`<C\Y.*HZKK(>EAIL(--/'#+<=DTUW'
MZ#O]KA4]9OF41NWR%;P]34JD;%HQK-)>GH*O+-)MF*Q!8PR2C(40$J(!W#R;
MCKA<S]3-6*MY]V/Z$&U/*"B2FT_'W;NO8-G\_/V6CS;"&CB@U*XDGZ2)7`M&
MAY%-2/3.Z,B5-`ZOPB8W7IEP/G4IH/:5^J/E):%]"H0TQL?QKTWK_7M7L+2G
M'L#>R5>LNV4Y$D6:/2(L&L:^6!=N1/Y<AE2]QO7C*5SN2^E5P?MM%'0P^]^+
MN])&X7RN(:VOD[6]GWK7-F3L->V#KB"I3"&3AJ\E-1ES2EJC-;&3>4AY$*H1
MYVI^TQ!+P<>#9*Y[+,FA]H+)&IO*C(0AR-U$UXEQ&]CP3+-7)GC11@DW>$`O
M+I%19P4!`0X.;@1#*[>OCJKKC_,U7L%<*'Q&G?#KR#?:\U36V>OVQCUSQ,C]
M=V-BM)Q;DH7-/R(H]T7C902JM4Y1%:CP!E5$CE[5"&*0PB),TY8D&^]U:'WN
MCM?<>PM74:/=5ZTR7C.JS8PRM:9VY5IKYI<&MU?T12>0=UZO6QF>18%9RJ[?
MYDB2ZX%^'*?S<TJ4;^9U^(LO%N*=/;X%H\?_`!E\@:_<JQ-7.JE8Q!/*RR;I
M=/+7LACL>T1U0=Z7_8=BA//FK1F5Y;4YY`!X2Y;(F./ME`@<"?.G)8Y4ILR(
M],M-_2A^W/M+O`Z,\B]/6I]L:`UC4]C'1VMY1.V&OU;E&12K2D[JFZI-U*P0
M2[DJ400L<YAE6\HS5(55PS64[?BZ"?.Y4IT=&P>ECJ7Y<\L_TV=?46^?\=/)
MA*!OCFNQ6KV=DFH30B00^L'D%344_P!CIBSR%[J^O)23A'K;7DZTC["FI#2*
MZ3@/FRJK$$AE.,E<[G+Z-^&S:'RBW#ZFJ4QV]M/:FVA9=0^*WD7"WBL6R\0D
M>B@'D]3MNOU)K:?[>V]M7(G7KRI.&\S858N-92THU531.<$$BBH)SF$?A#+2
M#Z">4FN['M715II]>KL/99U^6,?MZW/S$G7H]\I&R2#LS9&RPCQ@^A))$J`J
M-W0F6*W<=IS)G*7MP#@^G^/GEA6Z95Y-^FK+V"L;_@;]!T>Y[+1O-R@J,6OR
M41.HS^TWT.Q97QZU=O$G39$X`I\DE[)CB'PX-FB:4Y<635.\Q"A>*7EB\VGK
M2Y;!3:D#7C>^Q4U8GVX9^::64]E@9.)BG]!UQ`,X^KTN`4%\@=T'LF=*G1-U
M^(39Q=3\N7^5_`]+S(-9^V[KZ,S#H[P?\CFU>IYY*OU&:LJ&GHS2MBA%-[;(
MJT;$H4][--X:U.7U69HI6:)FZ_-J?><4N=-4JG4IS#G@T'''.ITY*>'VPD=/
M[YUE7U:,S)L*DZ8KE'25DI-Q%QRM`8L8Y['N_O1Q(NU(1!PS3!D5<S@Q_<[C
ME$1[`]S2Q?IX]7ZG'FPJJUPKL>[J(=S^'>R=CV+8]QC@J)I-WL'2VPJ7$N[/
M8H*+L+S6]$DZS-L[3.U]%O8H1R]7G'"3=RR,<Q")D,!""&9M?%\,>M_H/-A6
MF->HIM(^'EWIEMU=L:5KE/I<K$[AMNQ+O6*S;[M>02BG6KUZ!4RJV"]R,A(S
MLRB"AA<K%3;B?DI^A@'/.2:=3F<X\+CO5%TO(NSGQ;W<U?4^19JZ]E7S2\^4
MQK`REU71XQQ2=[J?,Q3APP%N[:30LE6*1'C5QVE<>X0W<4R08X76FT*[;HY8
M\.&S:MG2S)O$/QXVWJ&YV2;M4I$5RCC6(:H1NJJI>+I>Z<><8/#.%[U$'OJ)
M5:,H9,?8"&C5%&Y$^`'\T,]JQ_HQ_P`J/*O8W9/_`!,ZKO="F+#LK35[CU(K
MY#63J_NY5L[3<#+.D[55!@VR<&LD()-UP7*'N"?U(;@,RZVO%!K97KV%^E:4
M91><J+*J]_4<)4;P8M%/V-!_\/JN4HU8V[)[7C+/*A?'^P5?F;8ZO$+$*5Q6
MR)TF*&$GY=T7[P22.9PBD4`(4QLP)4RIA[8K<;G=BTVZXJF&_H>_X=I`AX.[
M#B:QKX8\^I;A<*M'[`@)IK?T[PO1Y*NW#9SO9$2JB>#F(^=:R=??F`3(E.""
MH'[#`)0#.:,Z=V&56G7W_P`.DWSK[QEDJ/"R,.BYIY"R.C5=:FC8"-=1=99S
MDE.6>=<C'PZRKOV*H@::("@*&,X7`.]014$1SI52HGF>3<QN2WU?Q-4W3PBG
MIFK^/A(!QK:Z3^G-:EU3)1>RTK=^P<I$&-''//QB-4DH>53DXMQ&@#8AS&2$
MAA*(<``XI5X&K2W(P@U*JJ]GP]NTC7\-]TT>I,*_HF]:DJKJ>U@ZU=>_ORC3
M:U=BV1WL[(QUEUY$14D#A*<:'L+E%5.04607(I[BGZP.<T:6+5];L?@=:B[&
M=EK%2KEXGT!U]75Z31*A379VKL]8J\%7%%&ON`T7+"1K:-*LBFN)UDR+E;]_
M:<1,`F$.1``SUCSC@Q#Q&W=6;I-;!HVSJ%&V:(N6TW-!),4V6FHEU1-MNV<]
M-UZTMTI=F\:SL9862;ANZ9J@D8A`(<HE$Q<\&47QNF]GL1O0<(UW?+W^XZOT
M#J5?3='?5R4LPW.SS]QM5_NEI+%I0C>9N%UD`EYQPRB4'+M%@Q27."2*8''@
MB8<_$(YZ>B5+37^+]$8-5+BFG2BX>ZK.(?)/]W[,[]OVQ[6A>=:L([8S6I.B
MO+C0G5XN%(F*K\B1-A2W[VR_LO"QLDFQY<+#'JNTQ,'M"7J(SK%6Q3I1&EEP
MW>*C>#R,N-X4W>1DK_#36UX"3T[M&_Q>QKO3&U,4):)62@8^KM4*^SM[FP@1
M"/F3UD@.0^73[4S!V`'7/*2PS5#T974GDU+X+>_;H+C1/#.XUEQ1Z3+;2;/_
M`!ZU9?TMFZ\H$?55V=]3DVL_)V>MU&RVU6<>(*5>F24H<&Z**/>Z3*!53`'(
M#/#1XY=YR[M8NBHWM>77T_$M#?\`=ZU-_">1]9N-Y?2L1O)7Y&I))0\<D[U5
M54[2ZOQ*E&J+M%E9*+/=WRS]7W3E*K[@HE`"`&11+-G;N2='"+:3Q^6.)L[Q
MD\8)#2-RM5TF)S7CB2L]7C*DC7]9ZIK&M(!E&04@9\C,N@CRN)][*3#AP<ZJ
M2S@S=$1^`!Z"&O1?ZK_ROXHSZQUMTH\&OU^!9O*S7^W;MNKQ,?:KDWE44J=I
MVG*SUX"L-;G!0D<_URXA&;&?@'+AH!B24A(<I*@?DADP^@P@'IO)]1YI<]1^
M&$/K.X,[?*7)S;)"1JFUXZ_KR<,1NK>K9N&X0ELM=J7/[RJ,.@D2%19M&:`>
MT@B0!#KSSX2P)-4T#]WO(Z\",C&^X8UG3ZC`VB#H;6H:EHM1O+->?CY6.C9F
MP;'0%62GI:O)R8`U4!)`1*B0%.\W<89>6)-#'XK]VC#2$7;QOFPHQ[:K!"U6
M&BY[6NLJO0V+%S3;+'6Z,LMT@6:DC&[!M*TS&D]Y1^F+<4%%TRIA[PB$-&K2
M24)NM,MYL:K^"*,7.4FS3>R$Y"7J&X*WMPR=4U=3-;5Z1=5B)FXAG"?<=*BX
M<K8CC[^7<K/%%EUC+F$O:"0]N=6U_4B_\2^)KG=7EN/^%[57+K9DUC\,B#>X
M'9-)V;-UVRP6^+#O%%!W7HZ?8K+VJJHU&=J9&RBB0$8.XU'D'1N5R&].,]P\
M@ZLV516FS==W+7<F^=QC.ZUF2K3V0;)E%TQ2E(]PQ5<((F,4O>B#D3%+W!T`
M`YP#@N^_N](>[#;6!-OOZ\UM]'IE*FW4?0:+)6AH%/KT77"3%4MTW$/9JHKS
M"$015RW;&.D"IC=@AZY*53=HI<,I8-X+(V-`^%-<@KQ3;RC>K`=6FW^O[";Q
M:*+!O&O7]?UJEK1%HLD1/O20=L$OG53E$#BZ,8.A!RN^FK,VOM9O<U).+3J]
MYH7R$\0WDQ`UK1M7@+[8X/8/DE.;NN.T(^7C8.-U?"SDLVE[3%2"GS[63E8J
M<;',P*@W`ZBJ('%4`X+SX?"\MB.8W(N/%DWLVX;#Z)ZZA[M!R=U0L#QJO4OO
MR)3UPS;D13",JK*M-F)60E;F.GP5X@'`\B(\\^HY[5C_`$8_Y4>1=QN2>6)J
M_P`AO%BI>1DI"S%BGIZ#>0%+V'26)X4S$"E9[&:1#22?*`\:N/<=,`ADS(EZ
M$$3"!N0XR]1<C3I+L;:E6N-#)JYH2M5S;K/<:$I,.;*TU!!Z9%DY41/&*P<#
M+JR[>5%,A4^V7654[#F*4"B7J``(X:+KTZV9*GTO'/I+3O[QP8[X=T";3N$[
M1K5K61FGM:L$1%UZQ-TT;+&##3S-]6[7'R<!("\CA[45E4C*-5``Y.N<GF&@
M6W[NJBH4E"DN=M[:DQ;I;X3_`&EE'%56LYS^0;5LE<TUGC>O-61F#5X@9=JW
M(W(0ON"F(]A0P#NNNUIA6ZS#U9L=9PRB(.,KY7*P(HO';&,C&4607"C1)`H*
M+(,@$PE`.!,/'T8!SA2?$6ET1GX[M&-HMDB3QK-?3TO[S4C#A*_M_&2<0_3L
M`ILBJNF\>SE#@@0IPY$I>X1ZB,JE<<CJ,K,)<6HIY6VIJY]^[WUZ:3;R=>V;
MM>E&=15]K=N0J\S"-`N=3V%;;'=)6M2+IS!N9"+9,YJT.?ECL5D%$T@*4!#C
MG.J0_P`1J]?R9/&%JG6S*?\`T(ZK&)AH#]K=F!"1.H*]IL8\L^P/\W$5"9^_
MZ?:#NW,2Y=)W:L2H$5:O^XP\IE`Y3!R`\&1M-UC^W9U;"N:>%U8<Q8M+WMK<
MFSY96TZZM+FRW*>AC2:ZNKY7[VK$<#.'@XR!(R,Z$XNS?)F6=^X;W#B':`""
M3>_!_7%TNTALQO=]J4R_N[6-R;V:G69M'.(V77I+.B/R,F;N-?QY&,E$LB&6
M2%(?U@?")0`,E*K-&EDXWDUG1E;J_P`+M7ZHL]5M\)9-FST[3I;8TY$2%SN;
MFR/#2FU"1I;BZ>N'3=,SHSXT6F)"B`%3YX*```9THGHNY)QHTNDWQLK5-6VL
MPK47;`?*,*M>Z[L)B@R<"U%:<J[\)&*3<JE`3F9D=``G(''>`9P>,:?N?AGK
M/8%]EK[*6;:,2E9W,3(76DU:_P`U6:-=9F!,W&*F+#"0RK,ZSU%-L0B@I*I`
MN4H>YW<9TLCT--S.[I+7E0I@VT]JKF89)^"NJBV.5N<=+;(?NTY*PW"I4&:V
M!/2.LZWL*:B9*/+88>LKKF3C3]\@<"D(H":!3G[`#G(P>1I7-+FI7E2:=,:O
M#!?K1]IK?Q]_=RZFUUK:)A-A-)RWVQSKF6H$\WG;I/6ZO5YC9"=EC2U^E..'
M"M6-)'(545&Q@,F?H3@`#)X=^9+NU=8_M-FQ?@1H1G!7:`FU=FWU&\,8F-6D
MMA[/M=OGJNQK[U.1KJ%%EI)X9>IG@7J)%6JS8`<$.0!]P0Y`9X41YES.JPZ/
MCCX$YKX$Z%;0$#")*[*5=0-\:;("X/MDV>7V%-69I"2-:[K+=9=V_EYN+4KT
MC\D+1001*V2(F`=H<9RU0\S4.3NMRI6BR]F697P+U=6JU<T->6;8E9LLO39V
METZTS5]M%D#4$19'I'\L.MF,B_<)UH'+P`.8J0")A^`#$2,8@P4G<T+&*,X:
M+9.72KERTC6;1P\,<PJO%F[9-!5Z=7X515=G(*HF'@W<;D>N`<]TSQ"T[0KK
M$WZNM;*E/0-DOUIA$WMJG'\3$26S6R36XIQL4X>&:M&$HDEW"B4.P%A]S\[`
M,5G/!/QXGH.K5YY!61HVJ$=*P48]@KM:J],.*U/3KJS3=5EY6(E6KN5K<E-O
M#KF;+&,"8F$$S$*/&>5J%6]*M?9'I:?F=_36E:MM**Z._K.HZS4X6IPD76Z^
MU3C8.#C643$QK?N^78L6"((((HBJ9580[`#D3',)AZB/(CE^C;Q6Q)&;4ZF6
MI?%/&56Z[Z[^K89"5L4I@,!C<@//T9N,Q48`P!@#`&`2E_[(_P!GY0P"4U_,
M-^E^0,`PZU*B1]5C`4![;.Q(`"/_`-U,Y`AAZ?S/9`0^W`,X(7M`?PG.;^D8
M1P"6X_LA^TO\>`6YK_C5O^3)_O5,`F1/^!:?HG_K#@%TP!@#`&`,`8`P!@#`
M&`,`DK&1(`'5`![/B+\`J&`1$I.2`4IC<\G`.GUX!@K+9^M)6?=U./NM5D;0
MT?/8UY6VLNP<3J,C%M$'[]BM$D5,^*[9,W":JB8D[B$.4PAP(9P[=MNKC%M]
M".E*2R;P,O,ZC^4S$51$7A#G3,D`'%T1`AC&[13`WN^V0!X#J/T!E%[2RN).
MS]-,Z85W5H%)TH\4B@.LV$16``%)0"K%7]H?;-P8HI![HAV>\*A@["\]XF]`
MYS,^7ZF7TN4L=E7\"*XU69.:J-#JCT(554"B)C)"0_<;MX25.8H=BYNPOP&$
M#B!?3ITX7*KD<SM7);W3K,:+=Z>K;%:.WL<0M<TXM.?6JK=XDK8$8([L&+>;
M7BTQ,[2BE7(]J:YB@F;U*(@`CGIVX.W;5MYQ5#ANKJ2;!>*55%81.RV2$@UK
M/,-ZU7R23M)LI-SD@9P+6%C@/\3J0>"R5,1$O)C@F8W'`<Y,H0E^Y)]:3"E)
M9-HFQ51K,)-6.RQ4/'LI>U.8][8I%!N4KI\XB&8QS-9TY13$5E$&0]I`.813
M1Y*'!>@<^39^R/8O`Z=RXU1RE3K9?1<LOE0='6;@S.``5<XD!N<%C=A0`YN"
M""YAX#Z#B/3G'E6OLCV+P(XYUKQ.O6R+N;@4A@3#]6)R@!4#"=N8Q!5.0Y"I
MB9`YR]1`0`1QY5K[(]B\"?,G]SQZ6:N2WKILS!>23V)5RLVD1.3KDXNS)JH0
MM=?GBYV2.U,B5W\G'R"1D5#@00$Y1`.>,>5:^R/8O`Y<I2Q;;9L=K(1,DU82
MK5=J[:.$4G4:_!/O3%%VB4Z*[9<R?ZLKANJ!@$!#N3-SZ9*MVXOBC&*?0D05
M9G*)!`B@F2``4^)1)4B12MCD(!C*&("1$S'4#VA$0!3GX.>N=@K%7#(>],#I
M>]R@=0.S@WZXIO:4.;M]#E((`81^CC\&5^39SX(]B!K*=W!KNJWNJZQF;`Q:
M7N]H/']4KIV;]=Y.MHT!^>>-EFS)=F5LS]OXU552$*/TX\FS]D>Q`MMDWQJ&
MHJRJ,_>H!HY@+53J9.-U#.'*D+:[Z9$U+B90C9LO]WNIT%DU&YE.U/VS`<3%
M+\63&U;@ZQC%/H20-I\HB*ACMTDCE*)U4R)%$WMD2,F50Y"$$QBG1`2%$0^(
M/A#GTSL'JIFS<#"K[*0`'N'$P$+V$``.997D`[$R%3[C'-P!2D[A'@O(5^5:
M^R/8CKCG]S[6<W5SS'\:[7;&=)B-BQKY]*S/[/P<J:(L;6KS]C]U8A(6#MKV
M%;5:9D572!R(D;/%17.003[A#'DV7G"/8B&V\SHXZ[4`#W0*":Q1/[BB)OEQ
M3(`F!1182>P"0\_"8P\&$0`.1''DV?LAV+P)C*476+:?0P5PT.;L(=(YB\B4
MI"@H(D2'@RQ`(!N44C#P*@?`4>G/./*M?;'L0XY_<^UD9G;9/@#N4D_4G!U`
M)V\D]T2B!A#L`Q`YZ\`/VY8<D";QF!DTDET0]SN43!,P%*(G#W#&X+QP=4IN
M[TY,`\X!.;/HXQR$.Z:"*@**-R**)@9;V1[E56Z9Q`ZI4Q_.,4!`!^G!*;63
MH2SN8YR4RZ2K19L<ADP5**1DC%33[E$!-U+W%*`B*8]0^D,/'!Y$\<][[20Z
MDXR/,0KY\Q8&.)4T`>.4&HN.`*8A6@+G3%T')N"^WW!ST#KG'EV_MCV(<4M[
M):TG$%=DCEWK$'RQ/F$V"JJ/SBJ:1BJ`N5H<??,0AP`P&[>.0Y`>F=K!460X
MI;V373YA&E`[QPU8$4.!"J.U$F::BAR"KVE47%,ASF(!C<`//PF^H<YGHH:U
M4FY4CN;V]1*<I9R?::-LGD!4*WN:CZ/&)LDW<+M&/+$@K!QR<A#UJMLW:+4T
MO9'Y%T"QD:_6.`IG`%3D)^L[1)R;+8<@T]NR]7&YC#&CD]FRC[.L.4U_,W[S
M![IYDZUI^Q+]K<])V_:YG6;:%/?)*D:TE;37:^A8(HDY$%D'<6N8YU5XD??2
M!,ISF*4_`=R9P+5P0^V/8B..>]]IN^H;4U]<Z'7-B5RV13NEV=@@]@IE=\1L
MD]37`PIMB%>.!6-(`<ABBAR=8#E$O`B&;[=M*$5P[%L/'NSGYLJ2:57M,I7M
M5:8N6+-_88>/=RCX\9$MI"2:L5Y632.L0["+2=*I'D7I3(&_5H@<W`<AT$!&
MG40C6+:66XU:.4VI<3>S;UGA[35TY0:\I.PQ)U-$79J^=^T+,D:D.3N>#$&4
M!\#4BBI>5?;[`,;US+Y=O[8]B-W%*M:NI;U=@T!`TD"UTJ:0Q+523E_<GHHH
M1S%-TLQ5D)`3.>&S1-XV.D=4_!0.7M$>>,>7;^V/8AQR63?:8'-;[U="72I4
MY[/1R1;E2[!=8FS'DXT*R:O5U^P8O#+R[EP#8R3YY,)@D!5!]SX0`!#'EV_M
M78CDV)(W>D0WW2,O<*I$_?:J3."&1GXEC][++&,1!M$BX=)@^,J8@@0J/<`\
M=,>7;^V/8B5)I43="B'8^OD;(A3C7&K)VYR5!=.K*S3)"?516;*/DE@B?<!^
M<AF2)U2_!P8I1^C)4()U22?42Y2EFVS2M^\IJK0+\_ITQ0]IC#0\A68BP[*8
MUP"Z_A)FWNA90+*0D'+UBL]1<*')[BK)-P5'O`%#$'TZ.2N;^2M%=>1+'QOC
M!7F[H:IV6U6&1AT_<@:FWKSB/*S@)ET8O:6:?-Y1-8J1#F4`I@$P<>G'EP^U
M=B.N.6]]IO.WVF)HM4L5NGQ>I0U9AW4])GC&:DE(&C6*1U7'RD>U27=N5"$*
M(@1,@J&$>`#G.DDL(I)$-MXO,XW@?.RDIQ=EE-G:PV?I]!A09':-=1OD0P.\
MO5*C7B<:[>0K6"D)(6TH5XX1*:/<E1?D(J50Z($'NPTI*C54$VG58,HX[SJK
M:M>MKZW:?VE0KY6("GVJ/UQ/L8?[YMT3?IX*Q3'59D8^77A5_O64$B9P<+D^
M4YY7!(`$<C@A]L>Q#BE2E60N/-A@C5;(>9U'L*,VW7[[5M:+:1=/:S^U3NTW
M]LY5I+N'G49-Q6$X2SM&BZC=VJY,0ITP)QW&`,E0A6O#'L1A]%KHNJG/_FEW
M>SH=":"W9#[QI+RS-866J$S!62>I5RJ=D68JS%:M-3<&8S46\?QZRT9)D:*)
MCRX;G,B8>[T$!R'"#?[8]B-5F-ZU;X+CEQ5;S>TC@?);Q\M,Q9X"N[FUU,S5
M-9RDC:(YA9H]9U#Q\$F"DT_<D!0.]E#D.4'*J8G30$Y0.("8`&5&*R27N+*M
MYD^K>1VA;JSLDA4=PZ^L4=3V`REH?Q5E8.F$)$^R=<\H_=D5!LG%E(D(&7[A
M1`X=HF`W`9)!K?4WE_K_`'9O2Y:FUN_@[;`UC6=6V,C?:_+MI6%?!89V2@GL
M.[!NHHI'O6JL<8Z9%BIG4(`&`!(8HCQY=O[5V`ULIYJRL7LAK"7+1%_IVI+/
MM0FF:CN"8D8Q)66NCE%T+#WZ"5-"S,ZK)N6:Z+)ZF547`(^YT+UQY=O[5V(5
M9C])\]CV:5K,U,Z9M5<TKL>0N$+J?;(V>J2B5GD:-"3DY(!-59,[:?K0R\;7
M'AHY18#%4.0J:I"',4<E0@LHQ[$57K5Z\DK+DI)XT;R]Q<*+YD;#M<N$(^\>
MI6!GKQK"?VWHF/?;*K!B[.K5?/%D-#R[\$!0HEI=LI$KM--85D`24(*BB9NX
MA)X89\*KU(HCH];&:DY3X4\<9/#I-FZ1\A-H;-V9;=?6_1+W6JM#A8N3LLB;
M:%=N3=C*3R/S4157B,*Q,FE+J,B_,'*"W)4C`)@`!#F38;UV-MG7&H:PXMVR
MKE`4B"0<H1_WC-.OE4%9EVB9=O$,4R`LN_DUNT>UN@514WT%ZA@&EGGF?XX,
M*E#WMYMNIH5FPSCBKQ#\XR`NGUG:`8RU<")+'FF$ITJ9>\K51`BQTQ`Q2B40
M$1*;63)LAY>^.$94J[?G>W:J-=MSV4CZT[:'?OUI:0A"@$R@G',8YW)-DH54
M0(]660(DS./:J8H],AI-4>1UYEQ?S2[68%3?,B.GO#R8\KI6"8-(FNQ]Z>IQ
ML7*+2</-,:O-R43'.V$HW;<N49?Y%)054@43()C%$0X-QSY=O[8]B(XI;V87
MKO\`>*ZIG;U+UNZ6*I56MA5M8V"J6!)"U\R0["@$)1^$BF\A_8@HUC-J@T06
M="W]_@#)@8H@.=))*BR.6V\7F=(V+RT\>JAL=EJNP;"BVUR<.$V;EK\I-*QL
M(^<*^PTC9Z>;QBM?AI)Z<IO:;NG22QP+R!1`0$9)3:R=#+-J[^U;I5Q5FNPI
M\8IS>I1S$U-BSAYN<EYV0;-3OW#:,C8.,DGBQD6:8JB(D*3VP$W/`9U&P]5)
M:=2X>/"M:4]^PGCEDVZ&)1'EMH:;O:.OHJXK.;$N]>1394\-86M;>3+!NFZ>
MP;"Y+1*5.?SC5%0/<9IOC.2F`2]G<`@%K_MRD7-WG5;/,D_U&%3'8CS5\<9M
MQ9U(V[R3IK4ZA8=A2C]6KVIM#.Z96'*S.?GZY*.8%%E;V<4Z2,14L4J\5`P!
M\(@/.4NV[3\IXN.&_+#/:<O,Q#R2\SZUJB@2,KKXL19-BGI.O-DU>KV(96*B
M9>BW_8E9H+2?</\`VVR+<0=65+VD%%"+%4,`JD*0#"$`Q&E_O`M53$WM*#LR
M5D8R%*W=<-40D97Z-L.7D;0C5F22SR9:M6U8=*2"\6I'O!?&9`JT9(%(=<Q/
M?1]P1*,9+ADDX[GB=8'WAK-EJ(=X*6-(VM?N(EC^^GC!Z@H$6H=-`O#$6194
M'GOJ%3^5%O\`->Z/;V=W3)J]Y7Y%C[(?\J\#EC=?GE2JMIK85SUDF_F;Q5B5
MULQJ]MI%\8B@O:Y0D7#3$U76\(QMQJDNH"@%D&Z(MC*$`@'$Y@*,%O09Q<MZ
M6^C5/1=@EGM6=O-BOW\?/((UNZE4F7250DK*S952*1,:1C'CA*($J)'Z:!C!
M^<`',(8!K6J_O&-2O:%KBPVNO['//W"MC<96+H^I]C6Y"F0?WU]QIR]G*E&!
M)Q<.]?&*F@Z40%NJ?N]LQ@*(X)3:Q69U-M_R`UKIFDQ-XO#B6<QMGE(F%IL7
M6:_+V*S6B=G2",="0E<BFYI"0D5"D$PID`?;(4YC=I2B.">.>]]IH![^\+\?
M(BN5"<<?YH2,S<[/8*/'4&)UG;W.Q4+G5XXTK,UJ9HWRIK!'RC2*(+@H@W*D
MJCP8AC@(<CDO[WSKT<UA*K,UXFQKTZMK26DC5.E:_N-CM5=A:[(#$6EW9H)N
MT]ZN/*])B"+E!T9-T`CR5(0ZB%$\RC?^>&E#3]9@*Q$;.V$6PT`=I-K%1*-*
M6.`AJ*5S*QP3\VX9KLY`K165AG+0J/LF<G=I>R"8J"4HB$E']N!J79/[Q^M0
M.L-MV6BZIVPOL.@TR'N\'0[SKFPUE:VP,W+MX.-M,$T5.1XZKIG*IBN$^`?(
M.!*55$O4<'?'/.KKULN<!YULH:1V`2WPUZMLXA9==U*DZ>H^HIACLS]HK;0V
MMS?PSAC(SJJ<FN1)R991VI\H@T13,"H$'GA5CCGO?:95/_O`-8Q\=1WL)KC>
M5XL5_G+?56>OZM2E372L6W7K%.1L%=M,`[E&9(.0:MW('.LJK\LJ04SE.8IR
M<CEMO%E)+_O$M/QT3K:2KM1W'='.R*?-WUG7*I2)"0LL/7*S.N:G95K#'.GZ
M#HCJ$LS4[19!D1PZ,J7X$C$,!\`Z%V-OF*U_1Z[<4:MLF\R5T>04=6J12JNY
MD;:=Y8V1G#(';.24C$:ZR;%3,#QS)J(I-%2'*<P&#MP#G1E^\0HTC'4,('5.
MWIZZ7>^W[4['7$;'0#JS0^P-<5T;5:*_)KFLS6)<E&"3%9)^BX68]_P`KW_#
M@%QL7GC3W=$@Y_7FO]HW69LE'NU[E*[!U^/7G=<0]&D7-=F96^,'<RF8[%"R
MMQ:?+L%%W;HJ*AVY3]IA+RXQ>+2J*(Z:\:KQ,[-T7JC8E@=,WLQ=J!6K-).F
M+)2,;+R,PQ*]>JH1JQSJL4#G5*)$C#RF`]H@`@(9*2622!O3)`P!@#`&`,`E
M+_V1_L_*&`2FOYAOTOR!@&&64AE%Z\`!W&"S1)@Y$.0`J4J(B`B/3@H#@&=E
M$!`>/H,8!^T#"`_Z<`],')1YZ]!P"Q,!$7[SD1'AN0`Y'T#O-T#ZL`JHG_`M
M/T3_`-8<`NF`,`8`P!@#`&`,`8`P!@%*Z$0*':82',"A"J``"8@]@G[B@8!*
M(@*8>N`?GQ8SL_HF.LEEKUW5>664VY^\(E9>QSM:I;B77D-4U&1"JN590D"6
M1[6OW.C[Y?>X5(7L,($```#<<WN?:.I8B3A+5Y*6J26V-XO:WW="3,O5JG8;
M5`7.Z[1K='>-J4D1G$0[:*7+8VK5JD]!5!@JJ#C\PJ_=Q/6O1M24(S;WU_1K
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MN&U4YS9FT^\F(@FP:*R:-I),#D_5*AW"T(H=,#F`1SDSZFQ&QPJ+;K4[<\KK
M=]U^0-2J=D\@[#HFD$T1LJ]E-"6!C`HV"Y0<^S0BG$B=1N)Y-Q%E<#^H3.4S
ML2>T//?P(S'.3W>%PNL=8)G;F\[AIG8FO]/4*Y:IHL'-14"EL^4>Q\NZ5GQ@
MG3=8M[3MZD>W*>%44]U@1<PB4H\&`"UJ;_M<+Y/U)_9]D799VO?J)3IFFT+:
MK)@6L)S$!%G?U.Z^.,W`I.%V2[Z1.NK8X4[CV2)]@J`')\[>IY.E25V:N)8Y
M9^%2OTW.6ZPM0=MY/'+9MW&HPO)'\I-7><V188NYAXH^3;.HM4;&>N,)=2D[
M5FR,8-K#F;LDW[EVU."ADD1]Q?D#FY,(CD2N:2YCHY.4-M:9^[H.HV]7:PUD
M5&;RI7+WFT@W)/K5ZSW25W)?:AY!TE344=IG1,'<7Z<-<(.7AX@80TE03=S"
MSM;NL_>GD5G'>>+%L'NG*':`\G1MC73JUFM5+VZGM#:[J6?^9EBTRK4CV5RX
MUY'TU52<2>UI.HI`HP/!1S]B<8]<YC+%(/<!A#LX`VIY@6BNJ;JIU6W3MJ^:
MBTTOJ:5GZW)U&;DJ7%2>U4)T$4RR]CCS(F6DH:`Y<,XI=8"/EB@F4IC'[1`T
MQXKUN?V#Y.Z?V5?YR\S-PDO#Q_-/9.2D+1#L)YNALM""I$W*U51RWB8E6R50
MB#UTQ%(IQ.YX6$P],`YM\H:7KQ3<_DU423=Q8["OF]?":10BBW.S.4WM4GYZ
M`86.PU>'3>FBH5A$RWN,#G[A4CA`$A$$^TN`9KLR0N='1VYK)O=;:MI2A>6=
M2K8O[I>MFJM:W4)[3<-96,+.["IS.5N+.K(7IW[Y')G*Z+8>TIRE*/Q`=A>+
MS/9ER\0MR5UIL%"WO9U_N*L:HM1`O<@E&-7]>?L:TQAK%?6D;8K?&LI-<B;=
M_P#J"K)G.)1$"X!A^NM\Z=GM.^-^FXO2[O8VU*N_U]`+:=DJTLQDM9W'7SDB
M5JN\K)S4#^RL(]HSE%>606*?W)(5@21.8XB.3&_H(2X-3<<;FY4]W;[J=)Q.
MSS"2\S3P@[.]U]^XY\@)%$;I"OXYULA[YUE\G5UK!7GKC8C.$:ZE;WPQ95M+
M11C!KW]AQUXF*[8Z?ZPSXR(%$0Z8E>T-R7#I9N4EL=*].7N)C9U\%QZJ$8VW
MDU7/9GT5,GUWH.O3:GC/][/-N/2[7V!Y!0NTDY6\;&B@F:.S/;9."CYI%J^0
M:1\+&N(A`&BB@IK@)OA-QVY!T:=:R-#^;TW&>3<GMX]#K.N=^031,BVR4U'Q
MJ/NM:%UHXED8!T,W+2Q6A4RQKEVD!EW8)'(J0`YP#6VZF6P'U4B6.P:M:F>U
M8#1\<TJ#^T1V[KOLJQ11G<BZA%:-':YD8V(K%W:"U;+33B7>.G/S@+>[WEY+
M@WV-)"[:4VVGCN.C)K5KR:A=T[Q?U+82VWJO,>+SZGST=*W)I(1\B6N4$\X2
MHQJ4D9%ZQ<#,.`ER$2,0ZA>U7KW8*]3IX6$G%MMO:=":\K%M4\OU]$FCWL?K
M375AM/E4$ZV=JE0?*[1!,*U3G2*BWPG1LYI1^LW4#@I2%*7A/I@R'.W[P5G+
MS>Z-B-RT&4?3#+2[!_J:>=ZXVYLJ8F;+_P`1+H-=2MJK)P%.J4M!JI=C]1ZN
MY6,8P!V@0`#`,=C82U!Y`ZWMD12Y^V[(LP>/DI/U_8%+V2TL"4<-4AVEELM`
MVO!23BLPE>B7@*J2D+,(IB==`Y1,!![A&^UI+<[2N2DU58Y':WES6J:?>&N;
M-O:EW_8&@(_7-ICVL)6(VT6J):;7>2POF@62M54Y9-1RK6P4:1#@X@B1PN?G
MGU"J]:E<IP7)0INICUU*+ME6DI9U;[%3'`USXI^/SAAN_4&RM@ZK?Q=H0\>[
M:U8R]F&QOK)7(8-I!_EA7+-(O#'9EL\90W)&:W7X$R@`AW%$<IAIKL9J3O7)
M);'2C[C.;`C-A2&F/*7RLL$[K';MF8WA73CJH2%+UM-3T%9$XS7I8]]&Q\ZU
M3=LD7B$B0J"BCE9L0J2I^`,/(DU@Y)EM(;/ATZ*;:-%FDJ#,Z[VQ886AQ.GV
MNWDM?[`N6RI&XK4-2NH3K<D3,(U1VDTC'I53(M7Y3`F?L`"YY-W^X>8::[*Q
M"S;=J#:3^JKIE6C1Z=KD'+]3;C>=Z:O2HY+Z4EQ*KI]+K3=WF1R&NY2%024W
MGX][9WL[M.A]6U+0TX$(_6M]9G:\RD?>H]@5B':B6HKJZE09O7D\(>TLDB=/
MW"]O`X[W/^8W:<5BW'/+BQKOQ*-7R_1Z!J.ENSN5K6M,&J4I1=/<6(FH]L)[
M)F6MFJNQF6VWFYHF[QL_5-3U::5/0`LT;(P0%WO.O4V]>C*_!LACY)D;@[TI
MS@!.Y0!#O2<UUE_40LW;48QD\6JX*C=<7U;-IDIVFTZ_XNLW]H\?Y^1TTFHF
M_P#+CR,G=JO7E=2]M[393]MY>&"TI.B^U(4]U.-$#-FJOOLP.("F`<]??(+4
MAK9K2YRA*[1\9[OLO6E-<^5$.TKD90&,U'5MC:=CL5JT^1I1'3DJ,1-L#&39
MKI>\1,HIJE12`@B4#7#_`,?]O1$'3(^Z4R[2L=)ZJL$)2F$%JBL[9=TB37NE
MFF8VDR8VM-!UKZ86@7[;Y.7;B9!!4IRG*(EXSR.9:_4Z.Y&%BW&:<:XUSK2F
M#W$G=WB_HY_7-NWR[7^@'1EFFM/'JMUJUV6.@7<X:0J%`6C["V:2;-(#`[3<
MKE07.W`A%3%$/0>!IT/,]9J=3&U>MQC;:>*KL5=K%,#'/*B!O>V[2:F):AVH
MK9*=:8"4T;>Z^]..FGJCIY$R,M-[)0--ILUW,"HT<E!J\:*E[``43=YN`]T@
MWS8:;8%O)[0=S:03B3@(Z@;-B;78XR+:(1<98K`QJPM7;QP)D7B:DL5NH1(P
MD4$Q>""(!S@&QV.YU[-K.UWFI4>?GI&"3O#")HBOM,Y6US5+>.(T\4T<+D.R
M1":>MS))&4#KQ^`<`^9K*D;KW=5]QR.R-"[+AM^;"U82.8J6=C`Q.I*;#UBS
ML)>$U#254;D\!W*2_P`L(OY7VVXO1-VF'M*'`%7?M:;TWO<)'>1]"S^O9'5E
M#U=7J;K&R*0K6=V)8*C?V=XMT;&NVLG*1J5?"&CS(,'*YP%1<Q"]H<#W`6W8
MFG-N[==[AV_:=&WY2B[*VSI0LYH$\U`Q6V+9JO64&[8NYMJ]861NBF@E/22#
M\(D7*3@R3`2)F`Y@YFM<ST(\PG&*BH0PZ_':=6>(>K;U0]"[$K0TA:A04U;-
MD.]0ZOODZWM4G1JE-(.C1,#:7[1TI[!IR964<+-1<JK-4'8)F4,<!'(,EZ\[
M\_,DDG2F!\V*]X\^3DR]K3><T1;HA:M>/_D%KJ511;:KK&NVEJNM`?(5:(UE
M6ZBFK/RM7-.$10/)2CY50.\HK%.<2&**C?VP?$S9LEKN`J-.U;&1KIMX4UG7
MDW`&?1-;@IS85;V1JVWOZ!+.XP2%DU9MM"/&XR`B5(Q7"A>\!,(X!OGQCJ&R
MY7RRV[NZS>/CCQ_H%BTMKNBP<1)R%3-)6*T5>T3[VQOY*"J;M=LS.BT7;HMC
MJ=%44RF`1Z\@8*,=Y$;2\AV]_P!X>*MKFJO2+9+0^CT&%UHB53U[$*J&B7NV
M['$/Y]K-66TOV93N&)3)"$:@H8K<H*&$P@:^JGC-Y$SM6T1XSV[5R50UOX^V
MW8-AE=LMKA`NHK8$?)0=RBZ0G!PC55_-H22A[251\54I")G2$`X+\.#=H+D+
M=R3GM6':C;.B]3^0%FVKI&U[>U>77"'BUJ6YZU8>Q98BS0NV)^SM(*%:6&"*
MS`'#*`+"0!C*).A!0JZQ`'X><ZQ-UV]8=N=))N2[,/C7PV&SM3LKQXQ>.6PM
MJ7RD2-FVW9K9<-J;$J,$Y;2<X^D;';&S.!@6DBT2<*21X6LJHIM.X3`F@F8@
M\B7G.3PR_P#F93MTW;6M,?Z8@G\K8XR^5:QV-I79*K05V0JZ#5TJX)K^TVZ(
MDXV`GFSOL`SGV#+DYY+Z```<=Z9\8_(B$=UQ6[T-N1T[\NJQN1Y(S^Q6>PI=
MM02TURSE'T_+)L6`.[.:3["G4(7M*8P]@`'&9=3>NVE'RHIMMUK7]#1I[=FY
MQ.])Q26%*8F2I^.6\=8W9'<6NM=5:\NTKWOR(5UK,3L=4$WU#VS)QLO&V)G(
MJ-'+%)4+`QY?)N4CJJM@X$![LSVM5JIW(QE"*BVEM-?I='6GF2PZC;FD]`;:
MJO@98=$7"'J1-I3=9VO"Q[*$E2J5AE(VB1L3^%8M)8C9!..:(.7I4R*)D*D"
MH<\9Z=.TX>FTE?\`4EPTJ\O;KW&G67C%Y#6ZD>4<C.TJ!HMJW3H+1VOJC6WE
M[;2BD7/ZT@FT7+HR,TR:J-@`[M#O;N0)PH82]WUXH2]-I$U_4=*XY&(;`\*]
MWV2_6YB:I1DQ5=DVJB6YS:76^;A5JO4'K"$@D;$PL&G8)T![U)M96*,=N]3=
ME,<ZQA$H$$0R&J&;46[-NGE2<JUS[LMY]$-GZYL]GVWXNV>)^3^XM6V"[O+C
M\W(DCWB#><HCBM1:C5FHT>.'*AQ;*&*4BJ9^3"/<&<SBYP<4W%O:LT9SYSTK
MP0WA7M@P%1F()"TZ[JVYI39[#:\[O"YJQA8Q2=E)Z#$GCTV<D8_MPV"1^7%=
M9<[9V1(`5)VB(#C])>__`)%VO_#X#$K-=^$_D@@XV;17IJWKG7,[KS>%'*A#
M[*G;Q0[#.[%23"L6*E:GG(\SC2$&Q<>XH[CV4H9!3D033X[>=T(-12;;:6;S
M9O5C2\"<IRXJ*N6%?=CU9D<OXC^8FV&<I^WT#IFE.F?C=0-!UEM7;U/S?S<I
MK[;5*OJEMG3.ZH*,>TEF--*#-N@HL=+WC`J<3<<9-3=OVI15J,9)K;4Z=C1+
M'S)4ZEX&37[Q2\@[!8+FT<T>FV&NH^3-IW#3K"CNB\ZZO!:]LR"*Q>HUZY5%
MBVDJE)5B31`)5``.UEV*B:90[TSG'BSJ-1.ZH3@E#?CN*;EG3PM<4)RE/=1;
M^TZ2+XU[3L'AVPTM?[^1]MAJ,--J6::47M,8E,PEI)8X"KN)%PA'N)V&:D9H
M,CNE2?,&2Y.H8QQY'<9#!9GQN\A]FN]@[#V2IJNLW>P5&@T&MP%'F;-86;.&
M@-FL;R^=SEBF&T*HY75$RZ+9J5!9N@02E`PB'>('0/D'IVU;9L?CY+5E[%DC
M]7;L8['M(.':S!5Y"-:O/PJ*,09LF83KMU98O84XB4>`[N0YR:8&JQ:L33=Z
M3BZT5$?/NV>$_D]:(&G1GR6FXNS5:#F-?1&RZ]L;9U/N51AV,VJ^@+BDZJ[,
M1MX.H]P*RE8?IJ-VCP`42<@41+AHZOV=-"VW:E)SJLU@=Q;CTOL^;JFC977E
MEB)7;.B+'#3C*0V(XER0-Y7&GN*E9(^V*PC>4DB2DVQ?K+-W8)%^2.H!N>[N
MR#&<-W;17DO1=S:1V%$N-<3V^]J;TV+L:W(/X2TGU%7(J.U,RJ$#7D'T8"LR
MNLPCDTC'DW*C=5XH0Q1'KP/EO5ZM.G!&M>GQ/2CIM)+%7'PTZ*]E"X3/[N'8
MS200V=&S>G=D[0N"5M6VO`[-A;M&:P>RERF23OSU,C*R\++P3>"4Y21;NBG0
M=$^-;O./(/5ZO[(__(Y6GTC;7%/#IC_#O-WU;PLV!4V%F;5N\4FFR$[XT1VH
M(ES0:\K6TH:^,+1+6+]IHU--1PZ80Z"#PI4D?<.H*AC+B`JF.8:KVOUMN'%&
MW!RKT^)W#3:)SI*=S@6;5*TZ,-[.<J=^[CW+'MMBR1['IFM6"[Z`LNH2*UR,
MVC.R*]F^^6=DKEOL]OV#99&P2X.)ALH+A``(U3]T?9)T+QC7-^8O_LV__EXF
MR7+^60SNW=GV9-XTI7+-K.AM]EX7[\B;O9-V1%YUHRW8:S5JSU5JK!VB5UXL
MBPU6SUQ;(:S-'#UM*J)S:HF73<)N2N2`3@H@`B`/RW,J?Z-NO_%XG/H>557]
M6[P/;2.'NS?NZ#:VK_$?857V3K[:EQO=<F+.2^;LV9MU"$9/HZ+F)7:E2K%.
MC(BGLEG"RT5"5Z-K#9$AG"IW*AT1/[G)ASV]%>NW]/&[>BHW'6J66>&9Y.IA
M9MWW"PY.TJ4<E1]W=T&C;W^[DV'/:[IE&_:_44VC".]G-GTG8J=86,K5$+W?
MIBX1%WUE9ZS-Q]IB;E66DTHV.FX76CW:P`=1(0YYZU-V[:BG:2;;QK7+W"Q"
MU.35UM*F%*9^_`Z?\A/%:Y;>TMK'6\3L4KZ2UQ.UF:D5=A-IR:KVVB5R$/"'
M9;`:UB8KLD#2425,L8K=<A07X.8#=><-W6:V-N4H6XN:BVE]6+2P[2U6=-Q4
M<I</NP?Z^XTQH'P!N>K+EK6WV+8M,DB:_P!W[>W*$)1Z&I4X==?:6LD-=EK\
M7&N'T@2.0K::/N$<$-[KDHC[PF,(Y'*]9KM6Z:RW;A_EXO\`^XZE9TR5%*?%
MT\-/?0N4'X2;DU_%$<ZFW/5:S>I*!VI2[7,3&OE)B"=TN_["L5^KJD,V1?LW
M3.S4&2L#D&P^[\NN*YQ6(;@G&O47[]N_*W9BG;63=:Y+=@0[6D6/%.G_``UK
MTK8ND[IT/KE74.IM>ZO6E0L"M!J$-5S6`S4T>M,&BVQ&RD@K'BHJ#8[Q1,5#
M`4PE[C"!>`#)TUZ]=;5V*5-U?U*;T+4$O+;?73XK#W&X<UE`P!@#`&`,`E+_
M`-D?[/RA@$IK^8;]+\@8!BD\'_%U\/\`_)6X?_:6CT2_C%R//V!@&8)?FF_^
MJK_O#8!ZJ?L()@#GT#\?3`+0S(!7SD0$1[VI##^#]:<.`_%@$^)_P+3]$_\`
M6'`+I@#`&`,`8`P!@#`&`,`8!*43`XE'MY,4#@41$0`.\``W0!ZB(=/P8!I6
M4T?JN5;J,)+750?,U7%G<*(2,4U="#BYMCM+<[44!`RJSBV-%!2D!%0152'J
M(B(X!=Y[4VL+*R7C9R@U26CGE81I#MF^AFATE:@T537:5XI134[(ENNF51%(
MHD!(Y>X``W`AEU5J=U1X56E=IHL7?+KBTVMU3%ZYHC3=+3:,Z;J;75?+%OXR
M1CCQ53A8\Z#F'6</H9R*B#$'!UXYZBH5NJ8YE$@,)B&#NZYK6FNQNQDTN%/H
M+IZB,K;57Q-4]_9NQ,AFM4:ML<3+1-KU[4IZ%GYE:R3<7-P,;,-UYUPBBW6E
MW)G;185I$$&Y$RJE'W?:#LY[0XSTS"2'FI-7RL*G`/\`65"D:ZM%I01(96MQ
MCB'+`LG?W@VB`8JL/81AVK\`73;]@(E<#W@4#CW9.!Z$-1;C:4>.2DEN1<83
M5>JZRBBE!ZXHT*1JJV<LD(BIPT<FV<LP_P"%<)BPCDN'33G]2J/ZQ+_4$.N=
M4K^TJN*>H=8.M-[IW/\`0P2Q:(I%UVS";,M,,SL"D'3I:GQU=F8N*DX1NE)S
M\=.J3*7WBV7<(32*S`"I"02)@F(\B!N,AQ:QP*I6+D$Y2I1=*-K3U#IL\O#R
M,M3ZU.2M?()(!]-P49-.H7_5YC57P'69G[1X[DA*(%Y#D`SDI+>G2ZFK/IV%
M>HUH;68#HFGONU@,V1%,O)E6DBHD=Z5`3E`#=JG:41X]0S-/E7+9.4W7C>.W
M-YG7Y7FT4K:@G;C@L5DL%7P+BKKVD.Q;'?4RJ/5&/S0,%'L)%.%&)7QN]\5D
M<S,XM2O5/B6[!+[ININ1SNSIK.EBXV?VMU9$M3J-3]6I5)+!8UPSWLJU:=6%
MI9G97-:KJEFBT3-8N>"+:*2[!HH7VC-VDBJ@+UND9'H)2'`H_5G=RY&U!SG7
MA6Y5[D0E4J!C(Q+VR!%,`!)X$DB5.-;=J4CR<`D$P(APF_#W#<+!PJ'</Q=1
MS*^8:99\?_)+P#P*=]&P,^V*C+1L=+M4G)'!&\A&-9(".R&`4UTFSQ!8`<%.
M4!`Y2]P<>O3-B=54%:E'QR;CY]L@T^:50!$TC[#<KLR`'*/RIW@$]X42*(E'
MVQ-V@8H=.0#)!+6AHQ1V#Q>(C5GIDTT?GE(UHJX]I-P5XDF9X9`RGMINR%5*
M`FX*J4#A\0`.`1F;,45'91:M"GD#%.][6J(_>2@(@@7YGM3'YY8C=(I/C[Q*
M0H!Z``8!,Y122(!2%*@DF0J9$4?U::)."IE221(/:D0#?"!0X`OU!D\+,OK=
M/O?8R29-H9558&Z8KKD2!94J(E67*F(BB"I_;`ZI4Q'DO<(\>H9GNZ#27Y>9
M?KYE.Y9%L-?JHJFE@IV5DVZ8[:)M=NTF@FFD914R'M&[DVRBID^3&#DH)%,;
MM$QD2B(<"/PE_!DV]%I=/+CL5XVJ>X[6KUE[^G?@HV\\&GCU)O>R(01`!3(D
M50$5%4RHH)%$2&-R"_MD(`=A1$X@<P<!W#U'+CHPC_+FKJ7UCM5ZR62N*%6>
M4P[LS@RC8T`XE&LJ,<X;`8R7>=TS(?N$/7D!ZFZ@9UV`"ACI$]D#'$"=Y0;G
M.(")A!,I^PY@[C#QQ]?X<Z35#7:NVU;49A-$J9@$6Y`]H/U*GM$%-/@Q%3@4
MY>A"F]H`$0Z=P!SU`,-K8<W[D)I<+QJ:MH>G-<ZNGM@6RLQ#AO8-C2J<[:I>
M0E7LJ^>*H(BD@5,7ZZP,(U@D(@FBCVIE#D0+R81'DS&TQ/[?<?A0O:<$SJE2
M5XX.4%.\5`)U0Z\B?GL`?4><`EK_``AW*%,;MY,4`3,J?GM$/@`I3"`F*/`>
MG(#]0YVFJ49LMWK<()/,I&KYBX5=$;N&RR[58B#XB*B2JS1REP8B#TB1CJ-G
M*93`8I5`*8"CW!TR&TRN_<A-)1V%8!R=XCV]I@`0[S)]G)"B*@G`Y@#N1`X"
M;NY[>[KZYR9R0W?M%CIMVZR8J`@5RFW(HE[B;8RH(D7!$AQ.FB<YN`,`=HAS
MP.`5Q$R$.9<03X+Q[BP=H]P`8QNWO+R)Q*?D>/H,/UYP[%EOB?[F2[UZG!3Z
M5D50*-Q#WN"&*8G'N@`&`Q1-Q[??U$1$W^KZ\_1G/D6B%*3_`'8$!A2^7`J:
M)RD$``B?LB0"]>.WV^`[1+QU#CIDQLVX.L22VG50(503$^%3M*I^J+VJIB)Q
M,<_/`';I"8PJ&'DI>1$?4<L(+=%6&"G&*4E!R\9,QKCW19R$6]:2#)_[*OM.
M/N]RT563>"W<?JU.P1[%/A'@<`JI"=@*XP=RE@D8Z$C61".7LI*N6T?'M$3*
M%3*NZ>NCI-T"?-+@GW&,'ZX_;^<.<2MPFZRS!=_>9B8@`EW>V!#IF!N(D((E
M#VP34[>P#\<```//T9$;-N#XHK$FI[\VP*F"X*(@B(F+[X=@(]Q#&Y(9;^S*
M<%#F``$0'N$?IRP@IGDE'-TCF4<(H@5(KA0Y^$R)H`)2^\JH;M(FF7M#J80]
M/P9/"S*]9ITZ.6/4_`L=.M%.LM?93U/DXB8KDJ91Y&RT$"2\3(`J=955VU<M
M"?+K@9PFKWJ`/54#<CW<XX7L"UNG>4GV/P/;A<ZC2X"1LELFXV`KT2DBM+S,
MFH",=&MG#E%LBK(.!*)&Z"KIR0H&/P7N-BC0>MTZ_F[GX&.W/:NO==03*S7V
MX1-0KT@];1<=+SSD6+%\^>).5F;)DJH'_$+.T&:ATBE`14*`"7GD,49#UNG6
M+;IU/P*?6FXM4[?C7$WK2]5F^P[-X9F]>5U\E)),9!,0.=%\F0/>9.4C`'<"
MI"&*;UZYHEI-1!5E&GO7CGT!:W3/*3['X&S1?1X`)3J)D+[HI"50H%#W@$#`
MGVB'54W=W`'J/KG'I[NQ5PJ3ZS3[WV/P("2<>)!$IOU7LJ+&,5$XI>T3W>[J
M0@E$1*D80*'(B4.>,EZ:\LTLZ9KH\4%K+#R;['X=`(YCC@`E(F)?9'VQ!OT4
M;F[!X2X)\:1N"]`Z#P'U9'I[N[;3-=X]9I_N?8_`Q>Z[#HNN:;8-@W*<80-.
MJD>]EIZ==)J"TC6,>4P.W"@(I**F!("B7@A3&,/0`'G)CIKTI\"7U4WH/6Z=
M*O%AU/P,D;3$4\09NFBY'#=ZW;.6BR21S$4:O$C+-5BCV<@BX(3X!]!QZ>[C
MAE7:MF>W94>LT^]X]#\"<H[;E``)R!BG`3$!$XG(90>"&,F4@G*943=!XZ\X
MC8EM2IUX=..6&TB5Z5WZ=/7C6=<,/>:KV?N75FE8`UIV?=:_2($'Z44B[E%_
M9.[DEQ2(6.C6+=-1](/!`2B9-!)0Q2@`FX`.<[CI;MQ_0LU79E\RIK71EQS_
M`-).KQ66TMRN^M+LM7GW2IL>JH:K38KR!KK\^F2'!%H=4BZ`'``6^?071.F+
M;L]X%@[.WNZ9'I-1Q^7P_7UKMZBWUVFI7B=.I^!L^,DV4W&1\Q'JBYC91FVD
MV"ZB2B7OM'21'+5R"2Y"*$!5(Q3E[@`>!`<HG"5N;A*G$LZ.IHA.-R"G']K.
M?=F^5OC]J.U1-#O.S*[7+7)H-EDH5="0<F8M9'C[N4F%XZ/=LJ\C(@GW(B]4
M;E6*')1$,]/E>@>NE<2</H2?U3A#.N7'*-7ADJLQZZ_.RHNVZ-M_H1SGE)IF
MJW]AK*R7V,B;I(K1!2PZ[62$J(3QW"4&O(RB+(\/&HS1VA@:J.'"8+").T1[
MR\^C/DKEI97[3LM*-4O,MJ3Z%%RXJ]%*YH\]ZW45HW\"I2\K/'U;9@Z?3V9#
M'V,$DG`J5XK28-[4^8I%RUM>7+&FA$;`F1<AS,CN0<$`X")`YSQ7H=0HN5%1
M=*\2?67LN)UZOD2H;RVT+/;1#3$3?V3C89W\S$)0_P!US:3=S(U]!%S,Q[:>
M4C"03EZP26'O2(Y,<#)*AQRD<"R]#J4J\*IUJOQ-WE<T]/'447DR2:=8Y/HK
M4VP:\UQO=&NOSC((6-Q!J69H0L%*!#C&%>D8G/\`?R;,85!Z=TJ`%0,L5<X<
MF`H@`CE?I+W!QQ2<5TKX9E>GUG"W'4-\6%,/`S8'T>D0AC'3*8PE1$0)W&%5
M+DOM&,0IOUA!,/!1'D`$?PYRM->E@EWHTO6Z99R?8_`B-(QZ:ID3J$(J4`4]
MLQ/C$HF^%4"``F`@GZ`8>`$W3GG"TUV2XHJJZT3ZW3K-M>Y^!0HR,>?N]DR*
M8E[#J)"F5)5N'!2)_,IB4!;F`A@`H'[1[?3IEGIY)5:]OU]QCEK)\3X985_7
MVS,+O.RZ;KNJ6.Y6.1*P@:U#/9N4<,F_S"YVS!ND^,U:H()G,Z?NB.2?+HDY
M47.?@@"(#Q;;TDI-*BQ>W)=/<\"N6MN9N3HBDUGLR#V=2JY>8AA8(6-M;9!]
M$L+C%*UZ>,Q<`H#)V:,?E2>%;O4C=R0B'Q)GY]!'%_2\#<8\+:6:[T]S2Q.[
M.LDYIS;X'O[N\V`65B6X^PLX;`JJ8W:D'890_*J;17]64!./:LH4AQXZ"8H#
MZAF9::\]GM2OP-OK-/\`=W,]+/0!TF14I"/,5\D*T>@55$3.R(CR8&:)1[EE
M$#%X,!`$2"'4`XPM->;IP[:!ZS3K.6RN3-.Q7D#KYW.158,XF*_,3[FUI0$=
M9H-_"'E$*8NR:SL@R,Z;)H$B4UWJ94%3F*5QP84^X`$<M]#JDJ\*[5XF&_KV
MYI:=O@INIC[S;K218++E2]Q$3':)N$TQ[.Y9HH7N3403ZF5;D$>T1*`E*8>/
M7*GI[JV;:"QJ[GF5O/Z*>W22!L4$L=BDVE6"B<G[J$6"3EN*$D=L4QW2$>(*
M>V]4;)D,90B?<)"D,(@`%'AZ:\LUEGT=9N];IZTJ^QFE[;OS7U!=R/[4+224
M2S6I$>>Q(MTW4-)SM]L)ZI7X05T5`;!)J292\H'$!1;F]XP%2^+-ZT:G#Z>&
M,G7!U5$J=N>)137UVN/6BOUWO?7NQ)FX5^'?MV<I5K7-5&8AIE-K&2CF:K[5
MLYE/NYDLK[L]'M&ZZ?+IL"J'(@4#B(8O:&$(*4:N?0G3Y9D1_(UHU]/6C9DW
M9:W5F7WK9K!!5N,5<)-OO*=EHZ'8J/51%)%H+Q^X;H'>&$O:"8F$_3CC,=S3
M1O+@X75.N"[^KIVEEN]JM-+S-110RS3Q+8]OM!BTX,9.WU2,3LZP-JX$A.P[
M,D^Y^(X-8;WG14Y-QT'@B(G'G\.4_BX[(O#H+ORR>UE<-NJ19PE7&QP`6=8#
MB2N?>T<$^HFB@#I90(?YC[Q,BW;&]PYO;$"D^+TR/QD*52^G?L'Y;>W4MK;8
M^NW<E,PK2YU-Y*UX%!LD0TG8AS(P2;9`[Y49R/1='<QR238AE!%8A0*7J/'K
MEJT-VVN"$?IV'/Y"S<^N;?%U,N"VPZ*HT:OD[=74V;N+4G6C]278H,W<`@FV
M.XFF[Q58B"L.V^<2!1P!O9(8X`)@'IEL-+=BWQQPIU_`SW]9%Q2L2^JO5LZ3
M3^QO*?26M-?2>R)G85>?56)L4+5G<C79N)G&Y;!8G[*.B(]RM'.UTR*.5WQ3
M=HF#]04Z@_"0PAILZ)7+B4J1@TFVT\%6F"WF;UMY*LF\Z84]O$\@?(RBG0MS
M^\2D9K9C7+M.5%C(72RU1JC9$XF+CYLLU&JLI=<C5B,5(D/[*P)K`00.8O`\
MYWK-!"-%I7&3<%DFDGM7U8NKVX=2.7K;SR;6)F<[N_4%3AX.PV?9U&KT!9#I
M!`RTQ9X:.BYH%S*`0\8[<NTV[](PI&[C)B8H?2/7/-BE;AY=Y?U56NWO--MZ
MVXE..,'MJC95?L<%9(MC/0$M'34-+,F[Z+EHIR@^8R#%<!,@Y:NFQE$UD%`#
MDH@/`Y5+@_E-MGSTWYV6S+]"^?,(_P`__LF_V<Y+R,BA#\]@\\<<]!#UYX]0
M#ZL`CP!@#`&`2E_[(_V?E#`)37\PWZ7Y`P#&;`BI[\.?CX23HJ"/(=`.P7*0
M?KY[OQ8!EP?G&^T!_A$.H_:.`>*"4I!$WI]G/7Z.G7Z<`LS$I@?.A-Z&;%$O
M7GI[AP_@ZA@%1$_X%I^B?^L.`73`&`,`8`P!@#`&`,`8`P"E=KG0(0Q"@;N4
M(F81#DJ13'*!UU/B)PDD3D3=?JP#Y^5;R^VK<335RA_&][)Z7^;V6SK-^C+[
M#'EW*FMC2;8[NS5E^@P3K\;:Y")6;QBP.U@,H`"X^7(/?@&CF'[S&3^6V:F_
MU=39^?J.MW.T*O!ZOVJSOYY"!)8HBM%:W)2/B$W%8>Q[B7!RY%!%\F"#=;@0
M[.XP%-*^6VW-GUK2=MI$;KA"PG\H:=0RQ]#V[%VJB[*C)#75OD7<,[L!8MO.
MU,C:1*`+(/HSW#]H`4P#UP#KRF;XN>S-(;)NT73&5=V'1'^SJ1)TUQ8@.P87
M>C?/H.2-[8DW*#R/]DB2B3A-`@',)O3CC`/G!H3R<W+K5C2'UU=V>^6C9.A-
M>6"K:TFMEFM<-+;'V9M:6B(V8<6U:#CTX1DO$HBHH@FFH!")B0@=0``.N$_-
M.^538*&O=RZ\I]&D8JW1T%:I2!M3ZU5P(6[5J?DM:SL-+$CVRR:DW.U=VR=-
MW38AD#BF4HF$1-DKJJ9[VBU^KDO1-TC6OZ&MZI^\5OMXUVA9:]HIP>V1M9O]
MBOE6/(R#EY2$:S,0\771DHV/8+3*O[1,)Y"5(@DF=P=@F<"%[^.)K59?$XM\
MLYOIYJ[J6_)3QSW'1_BKY-2OD#3;?8%W^H).2J[]6/CY#6MKGIJ%<JN(A1=$
MLY$6&'B+I4739X`)NF[]BF=,0$2"8.N<FLXO\:]I>5:<=!P\=%UV^;DW3/[A
MNCRQ7_8ESDM=U:HZ[M[ZK-X9DU:1RKU%#[P<-F[1!E[94TCD.L`]IC8!O77G
MESO'<&T=;ZZI5%UQ71=5*P6;;CFZ3%H67A%JAL`:+/1E&^Z&Q$I11R+=1RU.
M^!$H`8I3B/`B(%%Y+><5YU/M*R:WUY4*_.K4RIP]BDR6:$VM*REIE9U):1C:
MM5E-<5>PPL<Z<Q+504W4BN1$[D`3'MY$<ZC>T]B7FZK_`$%GEMRSJLQD:\W1
M^\-O-`7<2\+"4Q"(CJ7K^YJ4.9:;&DMF/FUO2:GEV,NI7()>J:Z=UXS](2DE
MEQ7<I"!P2*4Y##ICSCD$5224GOP)JC<C;?/D?L"1O%GJ$/K+_(VN7V8UH[0D
MI.;B]E/HQC%D;3MN82*8DK[-Y%R3XI$8]1#YM82_!\0@&9.)/%9/(BII?PZW
M5Y"TZM^)L'>5:)8]4;Q<7RM1#]&3G9/8-=GXE"P6:-6L<L^(FRF&DTX:KM2D
M;M2&9)MP[U#B/(`;PW7Y$>0:.RMT5S4;?7,+!>.-`K6Q+T;8)9L75W2EH^P6
M-S6ZV\CW[%I6#IP%=.!9!ZDY;G76*`%`.<`TWXC2]ZW;YA;PWA9IIBM44->Z
ME4I\&NE:FLM3:YM>H+6B/@VR2TL2JNY!F/<G(._D!44#M%$Q.<`TY#V3R4DM
MG,F'^8U47F&/[Q+9VNJQ+'C;@$/"0*FJ+/(S366B0GQ)8$8IJE'`V8^XV0)(
M$<&[BD[4PFC]YH_"VN'CCBJ5]L3:;_RW\EI9K6M<Q44RCMDLK=NZ`N=LIVJ9
M_;B4K':AG8>N0KR+HR4Q#JQ<A;UY5([DP/7*4>("'4Q@XCXE4].M*_*65$^T
MWQ8=G[EVOX`;`ND@Q-J#<:="O:)ADX"2>?(OZX9\RD)9C!KOT),@R$6BJHBW
M,N9RVY'N,(AR`X.9+CY1>1^AJY$ZS?O:E=]B1[O4%I@'R5<?0BTSH16F.;)L
M]P9@N^?.B*55I59!H==5<Y_GG+<RO<'>4P&QJIY"^2.^KG!U2@[!I.LH.^FV
MM?->WB0I3"[FF-3TNTQ5.JIH!B>3C8U^\L#MPO*N7)Q'VX@I#D[1*<3J,&^*
MON7<=]\/Y3:D"G7G>WZNE:0-^SL,9U7;<YH%C=QTJ:O@X%444+5'Q9U$>TYR
M)*KAVG.0O4#F:W^:6X+1&I2VI'K<U>V'NFEZAH<K#4QA:W[`2Z\;6:]/JZTD
M)".@Y1^>PJ*,4"NUB)$%(_('-QP!(>^1/D<YAHJA3ETF*E>#;$GX]%S7-.1-
MBV[:ZS`1,<_,_K^NAG)2EUXM?EGB;:;7?2#9,2*D422(4_>*C%2GU/Y*>1^X
MIC1<(&SZ[5$92F[UMEW1EZ-!(NK-_E!>F]4CV$X=.3L$53F\@@^(O,+I+/10
M*0PI(%#H$T8-C>)?D!O*R[>BZ=NJ[29U[I29ZR057?ZNK<;49:2A'Q47SK5&
MSZ7/R4?.4]K&B5RW)()JO5D3E$YTS<D+`,5E-C;5)Y%[1USKNS5RAK6CR9H%
M*=V,U+B)F1)'V#1,S/2,APZ4127FBO8],4#*%.D'Q=Q!YYP#I?5DYLV\>-.Z
MX:V;$7<WVI2.WM:L]FMZ[','YTZHDYBV%B5K8)&B$I!1'XU42)$0%0.2D+ST
M`^;VD6&V(J@TBYTW=LO%6J(_=UM-A2%I5JE5E)6?<4^U24@RAA&5;NVD?$JF
M=*D<J^T#Y=,Y0!<HI@(*,&W;7Y-^2]C=66P5>:>5&/UEI;5.Q8Z.9/=35FEW
MJ1V%KMA<I26N#W8LNUE_V41L!E8M$T4L14%Q`ON',(C@51UGY5[,V3`Z0TY/
M5;8330<YLK;>F:Q<;.^:5^=3J\+L5P+><!H^D!=5OYQ,Y"E;J\JI%,<!,!@$
M.5&#D:U>2&_&%D4T;$;/G+TTC=M7ZL-=RTH^L:]:[0A6M=U^TPVO1D;<"&NV
M5M)89-P@Z<I%.11NP5*5`AQ[L"J,YU+LSR`VQ==8:TM^T5X=-_6=TV"?F:$Z
MH-G=7>+H%_@:_5TYF<A8^8@47*;&1<MI)..!`%G*(\=A`$HJ"J,#TUM&[W2@
MQ(/_`"`7T?&4S45UO<0M"P^N8**N4VCL.Z,I1PY:2D0"$FUIR$&U*Z;,TDEA
M.\`5%#*"!PFC%48%N#<]SVWI+9EJVEN)'4#AGJ'1K^.TI)LJPC%W1W=4HN8G
MY:9B9QBXE+":>D4DRD:1QB?)(B03*"IR.11@[Z\QMF;&U?1M),:8_?P;>X;(
MKM(MED:3-9K)HJ-<1CAXFB2>M:`UR%6L+UD1D19PD8"$<""105[!`#E"D;"W
MMM:<U90Y'?,K`PLQLC<]==737-TH=IL5IK=+HK:Q0\(:SUR`&NNWT-,++)*+
MLFJ2@E#XC"?DV31@LL3N6^W2!JD1M[R*F]7Q,-JC;DG7;E'2D#49G9MWI6P+
M!34QLSEVS-%R$LRK;(AUXM%%$ZBO*O;\7&*,U+DD)*NU]>U5Q.6JSN;:U9U/
MI:`JM^=UFK5+Q9I=ZHC]AO"FZ8BYJ;=/IY2>L\W!V.MNE]AI?-)-CN6#87'P
M.#B"91.4<4?3@2^1VU1?H_;WLVMY$[*D;EJO<#S<V_I.B7=E5-(EH&IZU9VL
M70+M'6-.D3<K.%J`11GEH9RD_(*MR@)>6*)2"H?D>[%-Y'X.VWL._?,">J]?
MKWB98+=(0D#58CR(UI)3LE/N6;:#CX]&NV#N4<KOSN&QCMU>13`_YO/`EX##
M5*',>26Y522JNOV_0X4WUM,AMJ[NW%X@O6Z=7KVCJS';NV+KUH"-0?62:O[4
M6T@A*PD>^@I&QU.K.G"LE+-4I-1NU`Q^P..F/\Y)8+%+WT[2?PL'^Y)-[/;M
M,7JV^]GM&=@AGV^3I:#-M'3D;=K_`$W:EKW1):OI]@9V9"Q*-=QN:9`&KL/9
MY7[D!<R*:RT"D[446$B1B@7G\W]7%AQ>V9+Y)%1RK39CW8EWW'N.72E=;5C7
MGD!:[UX_JW;9+%UL[8FR9[4E9+<(B-K$E6*4P\A*Q#3#^9@8YBY=K-#B8491
M010]WO;'!2?S;3JJ5>>0_"1:^I9=9==82&Y-S*5ICLW>&RO:@_%[?]W39ZTO
M-E91UJDJKL]6%H]AF9A6'@IB;EH^)]LIE2(H(NCE+W`H0P\H\]DLOT(ER2VE
M7#-=[H8)N&>ML9X[C(RU^VK;%/([]WI>]B[+972><VY)"YP$?K4&4Q7HA9J5
MC4)!"/M3](K-FFF583DZ>X7N%^=E&E*=Q/X2#;7CXE;.;6DJU4KE$>+NXMIW
M+2`ZR\?Y;8]FL,_<[&.NIRYWE.'N16=P1C9JW5*94HB!@E(R*`0BB)HK)E;G
M!85#YVZUP?8(\D635,7_`!S)%<G+S?JM%Z[:[?N$QKN3\L]&T=HYUAM7=-G4
M95R>B+$OL&'B=[V"L5NR6%D=RS1.Z(F=0L>(G1%<3\<1^<EMIW%=SE\=&E-9
MO`^HODE8=6Z:H^NVUX4DZNVB7,C4==[UF:HTV>73L@$*=G&VJQ2LV6668'D&
M:1"%>O4%TEU@#WU"B83Y+YTXMT>#>_/I*U#C:@]N';@<5U;4-'V=X#;(2V53
M37V.U<_WI;-9W"4CIROI[8<SK60?,=MFJ156:2AI!X_46!J1JHS6<)%.U`@<
ME'I<\GC-/&F]%LN30C.-NE:UV/`^D6B]D5]#7'CI29V;:-;K<-,UZ9AXU=I)
M)FG&4!681&970%XV;?*.V2SHIEFROQE*;CIZY?"]ZB*OO.6)5.RM/)V5E'`X
MJ\O]K:C6V+<?&HR4=KDNS*Q&E\@=POJS8DEE:65`K:*I===M8=X6?M9H8`*D
M<%A3C2*`H!.51S-K5R%V_P#^N:J6F5'Y=)</&\.)5>[Z7T%EG1K6<47DE\?X
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MS]D16JK6))H$R7;E$1;&04C3G:.)DD8\=$(02^[[)CF*(`4V'SV471>S/G^5
MZ".ME=K3Z''OKX&]/&C7[;4/D#ORI5QC;([79:-IJRQ2<Y/3]AK[J=DT)YI9
MG$))S#EVFDX;&B""Y03*405,;G@!#M2YS*XOJHZ+?O/2?*+<*-+-T[.CW=Z.
M+ZQ#55IL";0EF&^9'SF?[@V`ZCI*'-?(J)BJR,Q8V5*E9^1=KI:V-IIC74$3
MND".E%5ECE[>TPEX/GD_V/+=@=+DMJG&J<.=<3"M<U)RVAJR72]<VZWVLVTM
MN2(\Q9>PM[XS0F+HOKF<(R9*'LSI:/D=BJ[$>HG@3Q)%0)#@**2Z)3%3&7SV
M;VA\DMK-*GO]O`L]C\7(:+TI)U>N:JO*RVS_`-VU,2]WK3F2NJZUDW33EJ5)
M51:62>R+\S;8B:ON`T12%%80`Z:@')P4(?/;F=?@2N26V\$J5H5$_K*)AX_9
M$=;]:;//MJ<T]J%KX;!18G8AHB$59ZVC'[B-AGT<[=L*K/QNV)58UC.^(@(-
M./SD@.4T_G;F_'W'/X:TU6B44VG791^S,[OWCK,V")V+<['4-AR6V)KRB\=*
M?/6&(D[:X6?T02:R+LI:I'(_1384:6G6COYIRU*4A2HBJ)@'N$97/+B6&2PV
M!\FM554L4WMV4\38$WXVPE=7\F;#4-6S",YKW=FJ5M!.&YK&\6B8Y0M*E[,[
MH35644CE&"SZ3<@[[$1*L3W`7]SD<E\\FJ_55ITZ^GVWD+D]I\*HE55VX=#Q
M]J&&UC2D/+;6JSW;6N;6_K5GWQYH4Z"=J0]S>(P+"Y6**<4`SQXS4=*URJR3
M:*4&/64.")>X2@'TYS^>N;\#I\EMITHF_;I.A_`Z-O%PL%\V'?XN1AY'648C
MXL5==T\(\:R,3J>S37[4ST44I2H*-IN8;H%.X4(9<YBG+W`'`!S^:E/#9GG[
M>U")\GM6LTN_?[=YRYNC2GD+5=JVYYJ76MUL<7XU3\GNKQX9HR#LT#=YO=#Z
M.B;)3FSDR"P>]38PLDK[2IQ223?)_"(]PF[?/;E:!<FLN*D^%+]=JS(;[XFS
MU;@TX*2UA9-@1$#K_0%IMR:$(>:86.X)[X>739JT=#$5>!*VF*&9.<J0)B!&
MJ!4R=J9.!Y_.SIF4T,[8>,[(KV_[=K^F'\?L)+S!UU;]:69@A(P=G=:I,2E_
M>"C%)90LA&5<L0Y<E=1IN4`6`W3CH!\]F\WA[B*&Y_/VB6BU7'2QX_5SNZ4B
M*C-C_?\`,-]8M=UE8RTNB@$-".-;SD[$U=#[Y<$$1FW:+H\<H0I2$X5,(0N=
MRBZQ>?Z8'<-+'5ORG2E*X]'\3B+5VCY&KP$$MY$>)NS]MPTII5;5^O:<QI[.
M1D]<6&,V#-R+^K.(V$D/D*(K9V!4'I;2B*230GP)B0H=H]?G;FUNON+?PMG-
M<)MJL:7D6%KGBV?PWN3W>-CVU3+O4=J-9A<8ZFTF/B(9A"N)7=7S2DHT4U8U
M:JE=Q)#**V,_)!(8IA[)_.W-[(_#V*YQIE[]QCNOO&V\LH_5U)B_'F<K>X=>
M0>^&FZMY235A"PNP%;C6;=#QK5K<@][_`#/;6]Y94G22RPF5CRB4AP*9,Q<?
MG+M=I#Y1I]KB6"9TQNZ^:1C=9MO''8S(^N_!JQ:/57LC:`BBRU_GKC2RN(FJ
M@RF'AYJ)+$U]9R#Y3V^_@0]L._@.5SRYFJU?\/T)?)[%:2<$ZT-P>1GB(H[<
M[K2U_P"/D-*0$IH3Q[>Q%9BH"N)1<[L'6.T7<HLQ+$MUF+9[9&]/:G:JF.)#
M.$E#$,;L$.)_.78X8]I"Y38EC6.[L]LR91_&:P37E+$W6_:0$NHW/D1NG8[)
ME;&-<?P#6J6/QWJE>J$LZJB9WJ,0HG/LEH\K/M7`5$^\2E*'.1^<N9-M+V]X
M_$64JKA<D\EO[:&L(FE_Y/0U$:[6T;%71XUTGY*0D=J^4L%+924$2P;CL=DC
M;7'P=ED20H5M_5C%2^98G!Y%MS&$J(\`F&F%YZB*OO.7\"N5F-B3LQ_;'`^H
MO@TTD&7B'X\-Y-LZ8O$M75PJC%XS38+L4Q(N9LT^6*=10J:+<Q2E.8P@L4`.
M7@!XSHY.K,`K&G_Q/_<__*P"LP!@#`&`2E_[(_V?E#`)37\PWZ7Y`P"QS_Q$
M8B*R*';--2@HOS[0`=(Q!*;@Q1[S@<2EZ@'<(?9@&1DZASR`B(CU+Z=!$`XZ
MC_'@'BI0.3M'G@3%]/PF`/P_7@%G:'$9)^GTX11(F4?I$.X3<F^CGDV`5$3_
M`(%I^B?^L.`73`&`,`8`P!@#`&`,`8`P"F<(F4,B8@\"0Y0/SZ&1%1-10O'I
MR;V@#[!'`.#W'@=7WKFV1SK;6VS:OGT]B*0VF&\W"QU)JC_9Z3].TN68QL&U
MDYM$ZD@JLP;2;AVWC7*AE$P/SVX!BL;^[TAF"Q966WAN>2LJ&K9K4D%.QTK5
MZE^RE=<RT).0CF`B*W6VK!&7A'T`D4RZ@G!\FJ8K@I@*'(&1Z^\%:749=E;Y
M^Y6>Y["_S2J6WIZZ/VU>A5K+9:97)ZL0K*1AJ]#LXMM%@PE@,X(W*45U/B$W
MKR!T!0M,0.O838M?AW,JX8;(O>P+]+J/W::[EI*W\[LDBTB0*4$VD.W0.F+=
M(W)R&$W(X!HAWX$:;D(.-A7CZY`E$:BI.J(APPG/D'\&E09Q6T5^U1;]`GO-
MK,WG%Q."Y.G`<<<#@$3[P+T]/ZVV=KN\SVQ]@+;9>UN0NE\N%I"5OLD_J"R+
MFNO8R8*U:IP9HHQ3I)$2(4H)J'YZFYS-J-'/5-.+I1&BQK5I*U>?30R$?#'3
MR,AN.7B4;)!3.ZF-(:V:4A)H(MXR-K^,:Q]>6K;IHF"\2][F""SI00$'"R8"
M/)<KM<NN6;BNMNBZ667.:*_;=FJ?%T]-3-M(^-U.TD-KE8Z<NURN5X-"K7"[
M7Z<1F[)8SP22R,>@[<-VS1NBB@@N*?PE^,``3"(AFTQFO77A#J<:]3X2!G-C
M49U29>V2D'::/='T'=6[6\3[FR6BL+6,J"RCRH2SYVH!F*B8@D!@[#_`4<`V
M#KCQDUAJ:R0EJIK2;1E8#7Q-;-/O"84E&[JOC//)]T:1.[#YEU(.Y!\=514?
MSS<?2&`6K:?B=K;;%J5MTG+;"JDB^A6U9L"&N[S,4B.MU5:K@LC7;0UAS%/(
M,DU"]W!#I=Y!%,3`4PAD-)JCQ0,+M_@7H2[/Y]64_P`QHF&LT5$Q=BIU4VA<
MJ]1K#]QDC20\C)U=K)';J2D2E#MB(JBH(&]L.XHAD<$/MCV(%TDO"+2,O=#7
MA_&6YRX6E8B>?5@MVF6M#E+/#1!X*/N,M4"/E8R1M+=F<#BY,`=ZQ2J"`G#G
M+*=!M7-+:HOIHL\%7]/U,[K7C/JFE1VI8:"KS@L=I.:GIS7:*K\#?<;^S(R2
M$J[`>2_,$,$NL)"&ZE]/0<AF:[?CJ9^9&BV8%BVCXD:8W#9T[==:R\5FW4$G
M5;2:'L\[`1=[JZ*1TFE8OT;#.&@76M,3*"9-N\,4X#TZE$<@K-F5'4%!HUHM
MENJ5<""G;G#U&#G'*+I11FJQHL;]T51)I&J.5T&#>%8%`B:2?:42B'T\X!@C
M+Q3TPSN\EL)&ONT+)*[")M904Y^Q(Q+/8!8@8->TLX5M+?($FI)@)@=*"`D5
M[QZ=1P3Q2WOM*:T>).C+2A[<I3W(NT[;9KVWFH2R6.OS[>S7-JFRM#E&9C)=
MA*>Q-)IE.NW.X,V$Y0$$P$`P15O,V=%:BUU"ZW;ZBAZLA&4'[DD:X>O,EW!$
M"1,JU5;2")WGS"3SWG2*ABF6[Q/R<>O7G*;]AWX<"WU++=]:>7&Z;L36"OB+
MH!S^RPR.OXZ5<T/7ECU+5'LV^F):2::[M3<K2<KCN3D7;I^^0<(E$"***',0
MIQ`H@&9/Q5QXING6R]<U@ML>G!9]'016;Q0T#;:M1Z7-:TB$JMK>)5@:8PC)
M&4B%:]7Q8*,5H9F]BGS!4(9VR.*2R"AQ*H0>H<\#C\5=>%7VL+FD%5UBV^B-
M/;WF<OJ0^J^JST;33&K5#[JK?[/T1G*,#N*3!-R)B1FE(QC5VLY<,2";_5.)
MC!R4?BYS;9LNQ;5J6:J9[EU7YNZLGU?I@:HUMXA:KJGCS5O'RYUJ$N=?AEPF
M)<JK4R+.1M2LHXFEYQD3W$'4?\K(O5`;@0X*%;@!!^K.+^FEJ8J,=CJ=6M2M
M++C=,<,2Y+^''C*YK[6J+Z@I_P!Q1\I)SD='MT%VQQGYM(S:9?"^"21?.G4J
MS(4CA-904SH@4O'PAQD_%75BV^_MS-'Y6V\G'/H[,C-JCXZZ/U^O$K4[5=4K
MB<`E8&D$G',$D$HQ"W*INK/\JR.8R")91P@F5;@!%0/P<YTN63;P?>_$K?,E
MPXR5?=[=91Z\\9]":FG']LUUJVK5BS/OO`ZDC&L?^+1/+*G<2+:-]Y=1K&-7
M:ZIA.1`J13<]>G&%RNXMO>_$F?,[<\*JE=E%^E:]W09*;2VKS6,EL6HU6=V<
M;7'7-Q/FCQ1D3VB&9GBXJ<(HDIVA)MHU7V41'X0*)@^D<OT^DGIFW+^;]"J[
MJHZFBC2D>K^+]YE<+2JM7&D\R@8>/B6UCFYNQ3;1HB"K27F9\0-+/9%-<QR*
MN79BC[@@()B(CTRZY!W(.VLY*AQ&:MR4WDG4UO5?'?1E,8.(^L:QJL$REH"5
MJ;^-C&!#L755G9%S,2T"H1910JL.[D'9CJI)\$$>`(`%+QF)<KN]*IGB^_$O
M?,H/;%Y4>%:K:J(H[)XTZ!LSFMR%BT[1IIU2HR/AJN=[`MWB<5#,.WY.+1CE
ME2(F91IDRBBDH"B:?')0#KC\7<?\7XD_DX+^94_X:]M"1O31%<WM5Z54+,X0
M"LUO8E1OTA".XB/D8ZT-JE\\JE3UV+CAD#!TNLEQ[?4"I#P/TY#Y5>>%759Y
M^),>968OB2CBJ9]_679;Q^TD_HD;K-_J:A*Z\:J_.L*:O68W[E8.RD]KYULP
M^3,9K)=O!?>]WW#`(!WCC\9<>WX^-2/R5O.JK3H_AW&5P.K*'730XUFI5BND
MKM>6J<(6*BF38\377;@KM_"QR:*+9%BTD'105=$+W&45#N,/=UP^678[7ET^
M.T?DK3KQ-/&NQ;:]VS9T%CGM$Z8L[2"C[#JJC3<947#A]6V+^L0R[:!=.!4,
M\/#)`T`P+OE#"98AC]JAA[C=PX_&7,J_'MS7>1^2CGQ+N^:7N2+O8]1:NN3V
M(DK=KFDV9_!-$&D')3];AY*1B6@B!Q08K.F#@B"#<4DQ32((%*(=./I?C+CP
MJ\.E^)5.]"\^*-*=&6\S">JD):XA6"LT'$6&%=>P9Q%3#)G(QZYFYBJ(&.T=
MH+(]R*A`$I@)W$$.2\"&9-3RRX[349.N&U[SE9XF,Q.K:%6RP*4)2ZM`)U<S
M]2L-X6"BV;2!4E$@0?+1R35JS!`SD`$51`.Y3D>1'GC/,_$ZBM>*7:_$FI*D
MM7ZOL;-C$SNOZ9,,XUTJ_9LY6LPSUM'OG)SN';]%)5-0A5WJPF.H=/DPF'D^
M>ZN5W5%5;R6_Q(XY;WVLJ)+66M94*^C*4*D/DJ]R2K(R56@ETJ\0"`3N@4UH
M]RG&`H4H`!2=A3`0/AZ!DKEEW%YTSSP+8:[R%P.33>.>=??\,2J>T"CRTA'2
M<S5*U,R40@=I'R4G`QCB1:MS]@"BW>"BHJ@V`$R_JPX+\(=`X#+K.AN:>:NR
M=52G:3/7QO1<(O%NM$\,"^2]?KL^V!G/P$%/L""0R;"7BFLBU(=,#%(<J#])
MPW]PI3"`&[.0`1ZYK*.*6]B/@Z_$1'W/$0,5&Q0`<AXEM&MRL#(*D%-PF#)J
MD")BJ)CP8H$$!+SR`AG/!#<NQ$\4M[[26UJE281Z\1'U^%C8=V955W#LX=BV
MBW2CHB8.%'4<DW3:KG<$(4#^XF(F`H`/H&."&Y=A'%+>^TDN:A474:V@G-=@
M'M<:*)KM*^[AF"T0T<I=XHN$&"C8[1,R7N'X`"=!,(^N.&.Y=@XI5K5UZR\$
M@XLYR."L6*2I&OR"9T&:"9DF(&`PL4S@0%",S'*!A2`03$P`/'(8X8[EV#BE
MO84@(LY"I*1D<[1]D68HN6C<Z*;(W9WMTTS)'(5L;VB`*0`!!`H=.@8X8[EV
M#BEO?:2VU<B&#12,CH>*81:QU5%6#-@S;,U%'(B=RJ=LFB5$ZJQSF$QC%$3"
M/7'#'<NP<4M[[2K80T=&HHLV3!DV8MA]UJV;M&S=!LN)S&,H@@BD1)%0QC"8
M3%`!$PB(]<<,=R[`VWFV7!5NW73,DL@BLD<I2G252(HF<I1[BE,0Y1*8I3!R
M`"'0<<$=R()"[1)1(J)6Z!D0#M%$R20I=O'`%]LQ1()0#IQQC@AN78=<4LZN
MO68B]HT"^LL)<7D.S5L%782\7!R!N.6<=/&9J2J:28`!2&/]WI@''3@/JZ9T
MDE@LCDR`R2)QY.B@<1]3'12.8?A`O(F,01$>T`#[`X],XG;MW*>9&,J;TG\2
M4VLF3@:]Y2&!)(0*)C)\D3^`QP$IS$Y+\!C%$0$0XY`1SE6;"HU"":_PKP'%
M+>^TJ46Q0.*BJ21E"E["*"0AE"D-T.0#\"8"&``Y#GC+.&.Y=@XI;V5/MD]>
MPG/PA^:'H01,4/3_`%3"(A]0CCAC2E%05;`IICZID'T]2%'T'N#Z/H'K]N1P
MQW(A?3^W``DD`"`)D`!`0$`(7@0$3"("''4!$X_C'Z\<$=R)XI;V#)IG*)#I
MD.42]@E,4IBB0?4H@("`E'CT],GACN0JUDST2$'U*4>!`0Y*'00$#`/IZ@8`
M'[0QPQW(58[2\\]I>>>[G@.>>`#G[>`QPQSHA5[SW@/J#\7U^N*+<A5D)4TR
M!VE(0I>..TI2@''U<``!QCABLDA5D"B0>V!4RE*)>`)P`%[0#@."\!\(<!]&
M.&.Y"KWLM#^-!^S?,G3?WFSMDNS73(L"1G*+LADE$@4#@43)%^(I^>@FZ=<<
M,=R[!Q2WLQ'7.K:;J2I1E%UY7D*]68Y5XZ08(.5G':ZD%SNGJZZ[LZKARN[<
MJ&.<XF'DP\CD<,=R[!Q2WLV*BF)"<&``$!'CT'IP'I^+'#'<A5DT"E#H```<
MB/```=1$1$?M$1R>&.Y$'G:4.."E^$!`.@=`'CD`^H!XR.&.Y`]X#KT#KZ]`
MZ_;CACN0JQVEX$.T.!]0X#@>?7D/IYR>&.Y$U9YVEY$>TO(\<CP'(\>G(_3Q
MD<,=R%7E4`0A>.TA0[>0+P4`[0'U`.`Z<\8X8[D*O>P4A"@`%*4H!T`"E```
M/P``=,<,=R#;>;*0S<16[BD(!>\IN0`H#SQ\1O3GD>1_&/UXX8K8NP5;S;)B
MR`&`GMD(!B&Y`0`H"7X>WX1XY`>WIT^C'#'<NP<4LJNAJZ_:4UCM,(L=C:]I
MEV5KZZSN`5L\(REE8EPNF)#_`"*JK8'#(G=U'VU.HCSZ\<=99$9FSFC%LQ2(
M@U;HH()I(()(HID2200;(D0;MD$B$*5-N@F3@A0Z%^C`*O@/J#\08![P`>@<
M8`P!@#`&`2U2B9,Q0]1#I^,,`IVA@$%2AZD.`&^T2@/\.`6*P+HMR1QW'5,]
MBC$`#L]SE1P9-!$!+]0JJ%Y'Z/7Z,`R-$0X.`?0<P\?@.83%_P"R.`>./[(?
MM+_'@%N:_P"-6_"S((_A_6J8!,B?\"T_1/\`UAP"Z8`P!@#`&`,`8`P!@#`&
M`25E13]O@2_$H0HE'\X2'.1(1+U#\PZA1'UZ8!RW!^8FA+1L&3U77MF0<C>8
MJ4LL&\B4X^9)[$Y42*/+!$%D%69(1>0C(QNHLH@1T*XEX$I!],Z7#[S#=O:F
M-QQA&L=F#\3`V_G)J*V)1MBHUMJ\QK^//<ANUCD"6EBLT0K%45LWS=0(G7EF
M5H9II-50=K$5*1`"!ZF,&0^'85/4ZS9!>]/Q*^F^='C!?XRVR]7V]`OXVEP!
M;?,/U8Z:CFYJ>HZ(T3M$<>5CV!)>$,^$617#07!#N@X+R/PX^GWD^HUE/VKL
M?B4D1YGZQN\AKU+7,_$2[&W;,+K>73G(^TUZPP\LO4W]L8Q1J_+PL>^83DC'
MLC*I&>E28B@F8?>[C$*)T]Q#U.MV05*[GXEN6\Y=-VFIWUWJ6W1]LN5:UW;[
MU!Q3VO6^*B)XM28NE9`(R4E(B.8SC5B];^TZ*V7%=`P]2CZYLM6+$E%W'1//
M%>&#[5U$N_K:815:;GXE<P\UM3(+4NOV^:^X;;8JI1YF:7;0<_(42KS-Z@F<
ME$P\[<V[-2)AUG3Q<R:)'*A#*<`4.O.9-?K^5<IMN[JM9RW3JC:AJM;9TMRX
MHO'R87%_5HFDW']KI55:15<A?U#2NKADLL'3W[>XS"I>6.H[?LQKJB*?V$+0
M_=65E$/)&GV*+K%@>U`X$LT?`6-VR+%R,A"'4`JZ95/4IA#,L>=<HU,81TW,
MN17KMUI1M6.9Z>_J&Z5=+,/JDU1N2CC%8O)G6GT[A>B_JP;S6&6\G[L\KM2:
M`DH^'V"^GR23R)E["JWKE6F[.:+KL`4AI:QSXQ+9<D'76QEB(BZ6$"^^/;F@
M]4QBP^:^F:X\AB.#W.1B):J5^\N;/`4.Q358J]9M/*L&[NDNV0`E95?M2"IP
MN7A)$?=/VD*80W+3V)134J.FUI8]&#P[_B>=*_JU)I13573![^LE2WFUIJ%V
M$[U^Z6MZQXNPQ54FK2THTZXHL)/6)!L\KJ$M>T^:TQ9331\@9JMWJ%7$_`"`
M],E::PXUXUQ=?RK7HPZR/4:S;!4ZGXEU<>7^LFFR&NLE&-V7=OI\U,9W=M2Y
M8VN'=[!-5;]CT+48Q6*DT)$A`$P-P=7@A1Y$,+36'CQT5<JJM.NF?M4>HUM/
MV+L?B8-'^>.O9R)=35<UWNZPM@M4C1Z\UB-72[MU>[)%.)!E(-Z@L5V#%1".
M?1+@CE5TH@BB0@'$_`YUZ;34_?CU]V7>1ZC7?8NQ^)J39OF_9EZU!WW4S9"+
M@9/67D#./V&QJS(-IBJ7K2QJZFYA+%%M9AD)44?O1852$4'WO@$BA0_.LC8T
M>/'-\2W-4^!BE8U,I<5)&_8#S"H3^K1,FLC87\^ZV%2-5.H%C$)_>1[M=*Y'
M69H1!DL\*LA`H0;_`.\%79A,5%LF?GD0YS%J(6X7*0;E&F\T69ZNS#A4:XUQ
M1F^\?(R+T@XK\2K0=F[)L]F2EG<56-65!:U2IHR'0`[J5?.5GL9!1+3O.40%
MRZ)\//`#]$686YSX9ND:>W:7._K4Z<"?N?B:HD?.NB)P-3F:K0-I[)<V*GN;
M[(UNAU9"8L=0JL=)C`R4C:T`E$X^/63FTE44$DEE@<>RI[9A[1S2M-IZ-<='
MLQ5/'+#K'J-;@^!=C\2=(^<5(:6`T;%T/:]HKL?+U2!M%\KU"D'M.ILQ>65>
MDJ]'V%X==M,).6[*QHG?%39'^6Z=PAR&%I],UC.CZU[_`)=X>HUM<(*G4_$B
MA/.?7,U:6T!^S-XBXF>0M*E$NDI%185J_*TUR[93+6OD8SCR98N7#IDH#$DD
MW:"\(03$YXR5IM-_-/O^7Z$>HUOV+L?B:FG/WA"\QJ^?M5+TWM*!FIO5=OV+
MI?\`;.NQR">R$*DU;N9Q9I%LI_YN-:UYLY^:52>J-EW35%0Y.P"B.66K.EMS
MXG)26YOVJ_ATE5Z6LO0X)1IMP3+\[\^8^N(0\58=6;$?6-C0*E=-FA&DI30=
M<-+2W0*P>RS*9NK$9<C]4QG"+:/4<+D9B!E>#`(99*.G;K&22KET?IWF?R-1
M3&,FS'-Z>=3QI79Y?2M(N5CC*[:]9UB7W!&,Z[)4:NV"WS,$26KSMH\E$)&3
M6AX*6`7;ILFHU07<HD$XF$`--KR82^N47%K%>_,/3WZ?3&7%[=!TSN[;BVK[
MCHB)-*2;)E?+]-0KUO#0D9(HSS:,HEBLJC28?/EF:,`R.I%E4*X)WB94PD*'
M4HAG\K37*RG)J>S'+XUH:H3UEJ*A&*X>IUSZZ=QB&F?,R!V]<:K4E]8;+H!+
M[3;'>*'-W%G!H1UHAJI)?=DV9%*.EGLA'.$E3%42*X2(55`0.4W4`RJY"W87
M%;DI-OLP*]1=OS45>CPQJ]FVAS_Y(^36]:+LC>E.JE;D6L'0==:@M\'/Q9JH
MZ(]F;+L5G7IYFFF]>A(.#OXTQFQ$U09F!7_XH%X-BUJGQ1C.,'%/:GDWCMIU
M8'K6.4V+NDG><KGF1BVDFJ52;W;]QM:8\Y(ZBP%T5VEJ^WT*WTR8J%>8U6?F
M*L*-J<7Y21"H2#6X-9,]=91SQ"+.9XX6.5)J;H//&:I1L.7T22BWV=2/#\G4
M/]T95-S>/OD77M_1]P38,2PMEI$PWA;/`L[)6+<WC!EH\\I#OVEDJ<C*1,JR
M>LB_`LF8"^X`AZ@(!BNW7"XXPHXIY[S=9T-N5M2GQ*;6./R.6T]S[/)^[_W!
MM\+8^'8]0)M8("TF1:F>LDJK<Y2,B$S$]CY=8B;%D4AQ,43&`3=0Z<=PG#4W
M?Z](P_PX>_&O0=3MW-)&NFK)O.N-$LLJ&5./-F;KS^:9O]13L[2=;N-4U[9N
MT$;'7&K>/DME0=778R;&NJ+A)2C9B]FCGD>WL,@3@>,[G9TUN+G";XUBO;JH
M53NZV<'"4%1K'!^)KYQY-;&JFV8"";+6&QZV;;.\D(G9-NG9*K-U8=CJ^OIV
M5K&0\8@@G)*1L+'H<,Q(D<))PL9`RJ)A*;*GK&\X6Z=7?GF8_)U.Q2,EKW[Q
MNER3E\2?K4='MWE(M%]JR55V+3+O8G\-68<)I['62O0[TR]5LRC!=+L9G47-
M[AQ+S\(YJMJRX1DY*M%5/Y$^3J'CPLRW6.X-K73RM@:A;J[/ZZK3_P`:)*^-
MJ@M+1<S%/7CN[QS*`F".VK8#-;%'0*O8];";]0HX#U`P`'.HOVX)*SPRJVVV
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M2!N8%6Y43'*`F'/0M/2\"E)J2<%2NRN+?MD=.UJ7E%IUV>ZG8932OWED!<[@
MTB6M2K+Z%M,E9X6AQE:V$-FV5,2E:0DE3?>E0CZN#"+;3"\2L1J)7ZH=0$QO
M4`XX-/PT4_JVY4-%F>LL)J,:Q;KBG7^!NOQ5\P9;R'F)..D*QK^#;,:^A.F6
MJ>S6UKF(-==W['[,7:I2$37;-6+"Q1,`.`.V4;`L0Y4U3E`#C3=LZ=0K";E*
MN6!KL:C5SN*-Z*5O'&C\2'8?E/L:O3VU92M:TKL[JG0KH8G:MED;,\CK4B^)
M#H2[MU5ZXE&N&<I&QS9ZD<XG<D4./>0"AV]V3"UH\*S=98TPPZ&Z;L-G0;<"
MV>,<KL^X;3\B-G7.2<?L(>V#!41BSV7+6:I-:RR9L723YG1Y.(CRU6769.14
M=&26,0P\@!1^G.]3+@\M1AA3%*C=-[%76IS)I[S'2N'ET]63V>29U=M^T6S6
M4#KU1-\=*H2U`5(C5;2P?+1+)`RM^72>]S8JI_U"2(AP(")M=G40EIZ2X5=@
M\'T4^+QQRKC0RWM-;O3XYN2=*8/Y&W6WE1Y43RD:\J.H--OH&U[6N>IZ@ZD;
MW96LB1]3W<^9Q8K(V)#*,V4*:.@C=Z:2QW(*#R0A@$`SIRY3;^K6W)JQMHTL
M7EBT]I3/1:I1_P#Z4E+6;%*K7#MP5,:=)@\S^\.V#'UW7<3^P^O8G:ECDMIQ
MML)+NM@S.NX=QJ.Z.*%/HQCNE5J>MZAI2=0'Y4RS``*4.H#ZY4M1_:W')RO7
MO+V*L:I]+X<>A4*5I?[NHGY5BO\`EE_UD\_F1NK;GW1#4W5]6KT!,^,]CW1L
MAA=Y.Y5ZXP+1I+6&INH>H/8ID@[![((,/GVBZZ#1=)(Y.`$1'%O4_P!K4:N7
MKKE5T:<5].RJ<7BL4Z/IPR7IRT'.XI-QMI8+]KS>%/W;RNU#Y,>1NQ:<S/H+
M66NYRH:KA-81%Q;[+N4_&WBUS%@J\1/3D=7)5Z4L8T7A(M\4X/)98PO#F`<Q
MW[W+'<<M%.4M/L;I6N.&"Q,E_P#)Z:YY5V,>-)/)[?>6U?\`>";`9>059UZZ
MA]0/J58MU,M..8>O/=A2U]K)GZ[AFSL$W:S5QIK,SMTZ33`S!%V?V._@53#R
M.4^99EA;=9#3W=3<N-7HI0IN>?:?6M)95,/;$I>A@#XBF`W`E*(]W7L$W)A_
M-$Q?J$<&TN6`,`8`P!@$"G]FI^@;^J.`6K`+FA_9$^S\HX!-P!@#`&`,`8`P
M!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8!`H82$,8..0#Z?3U_@
MP"F9D``5,'/)S]P_5SV@'3^#`,4N'^%BO_\`;ZY__$&F`9>AZJ?^Y_4#`)BI
M0.3M'G@3%]/PF`/P_7@%G9F$9)^0>.$42)E^L2]W=\7UCR;`*B)_P+3]$_\`
M6'`+I@#`&`,`\'J`A^#`*9!$Z9Q,;C@2B'0>>O(#]7X,`JL`8`P!@#`*5T`C
M[(A]"G`B/H`J%%$@=`$>JBH?P=<`^-VGJ!LW:Q9FLQ52JT#KJO\`F-N'9,GM
M3[]9)7,LG`76=-$55*L*Q1'Z)IMW(($7=^^)3PYE4`ZJ%$2-]J>CC"+N\7'P
MXJF%:YF>$\1]TLO'SQQU@T2IKVPZUUONRK7@GSZ00Z\G?-36VG5PC912.,,D
MU-.S2/OG[4Q22[C\&[>T9PI19EBNZ#B=8OAPIAVE+??#':]P:Z5:1KFFU\NL
M?'"MT)W$MS^U$O\`9-2NU#ND9%.TD61OFJ*Y=5A8IQ(0.TQBCV#W#BI*N\O3
M=4\7NZ"]S^I/)?85SUYLW9%8U/KR-I.YHC8CNFUJ8<RM@/6ZWKRT0L]+SUE(
MSBR6Z7?3$JA\JB"9/9;`/Q=>,9D*[R]+*3]W<:QU-I;?NZ],:F4E(>F4JLT_
M2^RH:C/&,[(F>7.9VE6U86*F9MHE&MW5;2@6X$,X(9587:IN1'@!#/,NVM=*
M;<&N"KICLKU#S.7UK26/06U_X!;6(]>Q!:WJVZ0]IE];VA_/7#96TH>/JSVM
MP<!&V&OK:]IKV-B+8P2?0/S+`PJ)I'47,*I0XZW:?4_W!HG31:SF.FC+-:75
M6["D]CGYFFON36*3BXT3::=4U/G<OI^U]GS-I:Z\1=XU+R`K>P6[^F4:L0MS
MLUBLZ]%OFP',1L2MS:*R;:`DM3V929K4#/HG4(X=2C!PW%PLC^:`'[<M>MY]
MJKD8<PUW.;^F7\E_6V+MO"O[H1T5J4EC@E<A1I.K54^+U[1NU*-I/C?13;UE
MA\W;-8M7;5M%AJ4S5`G-K:"E:`6M[&A+I,QCI6.6E31IJ*O4(EZDZL#QU+II
MO(A\L@@_;B!Q']6(Y>><88_\#]G6%E!.641K^10NFI]95^WI;"NVU(B0IM@K
M=68PSUP%=H4C#U^XM`:>XG\DZ%(@&'M-R`"4WF3LZ]S;BUPMX?5\CT8W=#PK
MB3XDMV>!T@X\0]@.*/O2K,K'6&"VRMAZKL$"HW1<-HYA`:X0IK==JZCV3=$B
M!I<*^M[:(&5%%,Y"F4$W4.?)YA2E5V_(GS=!Q5X7PTW+/M,!C/!^^1>V'4S\
MAIF3I@[H>;3;V:P2NS9*\)QSJ:=RX0#.H)R"5`C9AFY7#Y>3(054D@`.!.'=
MCR>85S5.OY!7=!1-Q?%M5%\2?+>&&Z$]6:GI$->Z;)FHEPV?/VBIR,I>JC3+
MRSN\[,2L!]^2=*=MK*[=UHD@03HF.#5P<#"(`(B(O)YA3-?\WR"NZ#B=8NF&
MSV]O<8'&_N_ML,Z"C6)*UZ?;/!BO(J(72JU=LK>$5+O")A&<0T;L)E\Y_50\
MK'&5745$RB@``AU$<>3S#>O^;Y$J[R_/AEV?,J]8:==3?G!%.(H)E2K>/VKJ
MJRV6"\$\@:G9]Z5^M(4>GS-6=/"@$F1G2WCCYKVP[$!*D'<?O'MW:6-V$*:C
M&5=CKN.97-"X4BFI=7S-]^5/C-M3=%NH,]49V@RM7KD/9X6R:NVD>VA1IQ].
MO&*C"YN652>,S6&7K[%N9%!I(B9L8/7UR=3&Y*W2P_ZE5GA@(W=#CQ1?9T=>
M_P")I_7OA+Y$:0@:Z&H-P:Q;W5SK!WJJ]S=FILV6N-F#6Y6RX5*T:[K$(^02
MB9BN+V,J(-79U6AR$Y#@>><*L<PRXH_\WR'G:#/@EV?'$S6"\2O(2FV.R1=-
MWS#,=8[*LU6OFS'LI`OWVVC7%G$P$5L1S2;"#O[EA8_9@P!53D41,:/%8Y2<
MACR>8;''M^7MM'FZ&F,7Q=6'QV?P,)HO@=:=7R2$@\F]03%*HSW8<W7)")TU
M`FW3/-K"WDW%9A+%;Y%-VS2?U)\_,HF^9E35?J`'N@'/.1Y/,*9Q_P";Y'2O
M:"N,77J^90:>\-=YWG66OV^[]F1B\?5-*S%>UQ5R5!W7+-"S]^I+2M/93::K
M6;>QDY(UIJDJW;MV)$$#-W"I3=>T<>3S"G[H]OR(\[05PA)^[YD-P_=X[6N$
MO&6E_;]!R%MG]=T^A[1D[9I5C<D2N*9&RD%%6O4YY5R1U4I'[G4;$58.OF8Y
M58#+"05``<>3S#[H]K\!YV@7\KIU?/>9K;O`;9,B:RTZD;LAZ=IN^7*H;)NE
M76U]'RUH&XUO]G4I=M69M!]%1<%`6HE;066*FS!5!;\T1*(\SY7,*4XEV_(*
M[H,W&5:[OF=6;FT`ZV]8=-3@V(*ZGJ>VR%H^43:`]--$?UN1KWW:Y.HMV]B!
M'H*@81$#&+QT##LZ][8I=?R.(W-'%.L7*7<8K1_%M[4I[0DZ[NJLL&C]=W"C
M)1_W6@R)8C6Y%B59\[7(Y<&3*T^6$A4P#@0'NYYS3I8:F,GY[3C3#;CV'G\S
MA;U$(K3*DE)MUW4:,7W7X?3VUMB6BUQ&S?V-K=VI5`JEGK9*VWE7+ESKB[(V
MV$E(V7._048"X1,HV5+[9N.ANN:9IN$E']U'0W:/4V]/9=NXFZ[NHE[N\)V.
M\)>_RTS;$XM6TK:HF*\4U?C+"SK]BU2K)J1JLO!31582UPDF+X/F&CE,H>O:
M(#USS?*U^=5V_([\W1))<+?M[4-F>/?CQ)Z4B;(E*VF$M$_;I?[XE'U=I%=U
MK`QP@4B81<56*HS2;+19NP3#\RLHX`3F`J@%$./0M*:MI7*.>VABN.#FW;34
M-E30L]X+6U\VMVNXO?$[&>.MTN3Z\SNIFM1A%)LSB5L"-EG:A#WYW(B^AZ9-
MR3=,3-OEE3$#O#NX-UIU4+\U'R'1XUQIU%NGE9BWYRKE0V#9?#>/LD'OR#_:
MQ[$MMWVBA6,I6C"/.2J)T5E`(-XQB44B>^B^&&[#F'@>T>>.<IM6M8KB=QK@
MJJX[.PT*[HU)?3@L\,^_WXDJT^&C"Q3D9-C;I)([/96R+S*M`8Q@MK!7]J5P
MU3M5&=?JRF0:*1Z:*Z3@`,)%R?F\=<]'`E7]'_-#N]L.\Q2E^"!ZVF>"L.V[
M!<Z2TUU.:ZK];/5JA5G,?'2J`-49*?M5=9-[);YB.233^6,Z4]H@I_$4V>;<
MM:QW9.#7`VZ8TPV$.[HVL(T>'3UFQM1>*TUKO:*FUK;N6Y[3L"6K2:BB$K%&
M5V)CH6M-+,6RLGK)M!-FO;,*G:HHO5^.]X!"&-P).,OTT+\%+SW7<9[\[,^'
MRE3#$7WQ6L%@OUEOFOMZ[!U`I?FT0UV/7:['U:Q0%H")3^41?QQ;5&2#FMSI
MF`F2,[0[N0-SV";KDZRW=NZ6=NSA=:P[456G"-Q.:K#<:6<_NXH%H=PTI>U;
MO2X'Y36SV/A?EX&TL&ETUDU481=Q?(3K(6UE<RC-XN#N/DT7<89<Q'!$R*$*
M&?._C>;_`'0[?D;O.TB6$*^ZGC[;#(X_P$90[M].1^ZME_MA);0I6VG=M<HT
MY=^>RTZ)>5P8W[O"MHQ254G*X_7;.F2:9>/>,=,Q1*7CU8:?7QA&+DJI)9D*
M_I-L/;Q+G6_!*$KLHFR;;6VJGK2,?3$M6-8,)J*A(6JNI\S]1PRBK)!Q3"W.
MHB&</U%F#1RX.BBJ?GJ'3.O)UV]=OR(=[2TPA]7MLZ>O`RS3_A[#ZKV&VV?(
MWJ[['MC*D_L#%2-U<UE1U%0*SD';LIW-?K%?5E'2H-DDO><BLL8!,8QS&$3#
M'D\PWJO7\CB]<TTH-6HTE7=\^LN%W\1:S=+E8K0K<-BPD!>G\?*;+UI6[&SB
MJ;L1]'-T6+12PE)&??''RC5)-R"#Q(CE!,J8DY`3#/E<PSJNWY&3:;&8:"JD
M16-IU>'=ST,SVHO(.99>(DOE'4.>1A"0!PJRIP4&'50CTP*0X]X\]?7/35:*
MN="#&9WQ3UG-:4K&CDVTK#URF-ZD6LS$0_3:VJ)?4Y\TD8V8:3'LF,G+N73$
MIEU1`?<,<W/3,>IAJI3_`*#7#3?3?\B<*%?5?'*LTZ+IT7%NY5VA2[S;-BM%
M9%Z5=])6.W+S;U^HZ<^T4">V[EN0'M$!`/3*/27[[\O5/^CG@\:K(MM7Y6).
M<$FW%JCW/!FLISP8UI(L8PL'8=C4:PP-HO5EA;W2K@K"WEDGLF;7G[I7T)@6
M3D@0DN\6X`ABB9+\X!YZYS^$T6^53=^:UOVP:W=61DE>\/M;5N0"59+7%V[4
MU`ZTBY/.V]]-NEZ7*3CVP2*SB1?%5>+6%1[)+`9V)_B*(!QD_A-%7"4J'G/F
MO.6\>#.N?RS74:_/^[UTN8E::M7VQXF%A8>C1$S4X;8,O%5"]MJ`D@WKX7F$
M9]J4RNW22_6*`)!5```W0`S!J.5:NW<X=#)>119NF.TT6M7*]'CUZ3OO##'"
MF&.%<>PJ97P!U))VYM;UIO:1PB]DQVVJY4$-ES[.AUN^M7WSR\Q'5=`Q&?RK
MI4YRKH&$?<;J*)@)>_G-/+M'KM/?<]2XNWP4P>VJ\#F]<LRMJ-N-)5[MGOWG
M6M(I@4NNM8!*7LDZ5!Y)OCR5NG7%CG%%922<R*J"LJZ#W5&34[@4VJ?H@W*1
M,.A<]LS&=X`P!@#`&`,`I'?H3[1_B#`/45B`4B?7N]/3IR(_;@%5@#`&`,`8
M`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P"4O_9'^S\H8!2H
M*D3*(&YY$>>@<_1@&,VTO>TC!`0`"VNOJB)A[0[$WC50W_O=I>@?2.`9:AU%
M4>!#@_9U^D2`!3"'X.<`]<?V0_:7^/`+<U_QJW_)D_WJF`3(G_`M/T3_`-8<
M`NF`,`8`P!@#`&`,`8`P!@$M1/W"')W'3$Q3%!1,0!0G=_K$$0,`&*(<@/`]
M<`I&\8R:)@DV03;E]Q597V")H?,.%P#WW+DJ!$R+.%S`!CG$.3&ZX!4@@F7T
MYZ_6!3?UBCQ@$8ID$O:)2B`AP/0`'_L@''\&`25&B*H<']P0'CGA50O<!1Y*
M!NPQ>X`^H>@\]<`IS,6R*7")/:*FI[I2)B)$P,(_F@F'!`3Z_F\<8!$@D50#
M";GH(<<#Q]>`5`-TP_G>@AZ_6`@/T>O`X!*58-5Q3%5%-4R78*9E4DE1()`[
M0,7W2'*4XD$2B8``W:(AS@%0*1!+V]H`'3J'KT_#Z_1@'I$RI@(%YX$>>H\X
M!+%LF(B(]W(CSZ_7_!@'GRR?_6_'_P!&`2ED$R$$0`1^@0-P("`]!`0X_BZX
M!XT1(5(0)R3J)1'N$YS=`$ICJ*B=0YB<_"(B/&`3OED_^M^/_HP!\LG_`-;\
M?_1@#Y9/_K?C_P"C`(RHI@4Y!#N*?\XINH"''''&`0I-R(]H)BH!2E,7M$XG
M`W/;P)A-R81(!>`Z\``X!/P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`
M&`,`8`P!@#`&`,`8`P"$XB4AC!Z@4PA]H`(X!;5%3*<`;CIZ<!Q@!+^T)^D&
M`73`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@$I?
M^R/]GY0P"E02(H41-SR`\=!X^C`,5N9`&.9$Y$`_:6$Z@/`]'38?7^#`,W*/
M//IT,8.GX!_C'`)3C^R'[2_QX!;FO^-6_P"3)_O5,`F1/^!:?HG_`*PX!=,`
M8`P!@#`&`,`8`P!@#`&`,`8`P"G72,IV=O'3NYY'CUX_DP"(4S>S[?3N[0#\
M'(8!X@F9,#`;CJ(<<#S]>`3\`8`P!@#`&`,`8`P!@#`&`,`8`P!@$!U"I@`F
MYX$>.@<X!+!PF80*'=R(@`=/I$>/KP"?@$H5B`?LZ]W(%].G(^GT_AP";@#`
M&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`)1EB%/V#SW<@'ITZ\<?3^'`)N`,
M`8!`I_9J?H&_JC@%JP#T%"I""AN>TGQ#QU'@/JY$.N`71-0JA`.7G@?3GH/Y
M<`CP!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`E+_V
M1_L_*&`6S`,<N8JDC(\Z1DBG_:"#6**RZ+=/VRO6A%`,JN=-(IA*(\`(_$/0
M.H@&`9LD"?!SD#CW#B8W4!Y-T*(@(")1#I]`X!"X_LA^TO\`'@%N:_XU;_DR
M?[U3`)D3_@6GZ)_ZPX!=,`8`P!@#`&`,`8`P!@#`/!$`XY$`Y$`#D>.1'H`!
MS](C@%L4>=JAQ!T@5$BG881[!`@AQW%,?NX`P<^@]<[25,N\KEK]!;?E7*^:
ML'CA4K$%04$P`J13CCH7CH/'/7@1^@0Q.*62H3"_8O-JSFLR?R'IR'(]0#GU
MX]<X.QW!UZA\/0>H=/IZ_5TP#P3E#GDQ0[>.>1`..?3GKTYP"+`(>XO3XB]0
M[@ZAU`/40^L`P#T#%'T,`\=1X$!XZB'\8"'\&`.XH!R)@`.@<\AQU$`#KZ=1
M'`/`.0P<E.4P<"/(&`0X`1*(\@/H!@X^W`*$SE0#G*!B\D'@P?#R7G\WN#U+
MW!Z<^N`43N>C8L&XRLI&QX/'*3-H9\Z1:E6=+\`@@F=4Y"'5<&,`$+SW'$>`
MYYP"K%V8.HJ)@'/'(B0`YY[>.1$`Y[NGV],`\!V81$`53$2CP8`$@B40'M$#
M``\@/=TX'Z<`PZP;,H]1E8V"M-ZJ,!-RS9=Y%Q4Y/Q<0^DV;<P$<.FS-VH5P
M*38Y@*)OS.X>!'G`,L0DBN4R+(+)'35$/:,15!<JG<7N+[9T1$INXO4`]>.N
M`7?N+U^(.@B`]0Z"`<B`_A`.N`4:SGL4$A%"="\B7DHF#TY'CUXZA^/`,=L5
MRKU2CPE+38(RO1JCQG&IOY)R@U0&1D%2I,68*+?!\P[.8"D*/KSS@%Y7?@DB
MLLLLDT(@D<[@ZJB78T[$A54,HJ/ZL"I)AW<CTX#GTP"W0-DBK)%-9RNS<=8(
M=^`_)2<4NW?,''L"*2YD'K7ENN!E0'\WIT'C`/)*SQ4$+89J4CHPD@[;Q\>:
M1?M&A7CYT8J;=FS(8/=</%SFX(F')C_1TP"N>O$6S=5S(.4F;1N4ZJ[I91%!
M%!-,!]Q111;X>U,/SOJP"VPDW#S\<UF8"7CYN*=%65:2L<Y1<LG2;9PJV641
M71,9)1-%RB=,P@/`'*(>N`7HKI0_`D.0X"'("7M,`@`B'(=O/(<@/XL`EF.8
M#D,80`YS!V<\!WF`.>"`/YP\!SP'T8!.%PJ7\X0+^D`%^GCZ>.O.`65]9H^+
M?Q,9(R;%D^GG+QE$-':A$EW[ID3YQ<C4G("J*;$!$?3M'CGZL`O8K+AP`]!$
M>`^$.H\<\!^'CZ/7`,(@=CURRV.Y56$FV$K.T&4C(>W1K$W>M7WDS$)ST2F_
M,;X?>>QBQ3"0HCV<@/TAR!FOS*GKWDZ"8!_,Z"3H<H]?SB#ZAZA@'AW"Q2F$
M3E*`"!1,)0[0,)NT"B/0.X3=./7GIDK,B5RW9B[M[_369*^:7_OT_P#[6'UB
M'7K]8"'VAG=%]K[2I\TY6LU,Q&O;*K%HL]TI4+)E>V;7SB(;VY@5!0A8E2<8
M!)11`5.0J:XO&1@4#M$W:!NOT96\RU2C-<4/V/%=3R,Q,],02@8Y`$Q>X`'M
MY$O7@0#GG@>!_%E<]/J[SXM--1BLZJN)DU.OLZ22C=BVVJX,EA*HF-[8+)@H
M)0/P8Q`'LY`._@1Y`@CT`?01')6DU]K^I?G%VEG14[RJQS2QJ;RL6XR4G7N5
M2<#LQA$"JI&$I2G,!3)F$I#]2'$"B(@0X>@^@_1G9Z)X=\5`"G742*0QRI%[
MCID$ZJ@B5-,G<("90YBB`%#J(@(!Z8!3&FV0JE2*[;D5,/:5`543+&.`"80*
MGW@H)NT.>./0.?3(>FUE[Z].TK:WJN/64W-;I-/+@OM\;5?<>$F&RA`43>(*
M)F$2E4(9(Z0F#CD@*%4$@G#GTYYQ'3:RR^/4-.WN2H\<BO\`*<MSJZ$K]H&'
MRYG?WDR^4*43&=^^V^5*4#^V)C./?]DH`I\/4WYW3URVL,J=_P`B/RO+/N9"
MK8HQ!L1XXEXYHR4`HIOEW#5-FH!Q`I/;<G6!$_>8P`'`CR(X^C=WDKFO+-[[
M2H3G8HZRS,LPR6?H%$ZS%%9!1\D3CH91D0QG"8#QZF*`9PZ5PR+[=^SJ(^98
M_P!/+WK,U;);TJ$5M"BZH55=/;#?V5T=1CB,!H]C8XU!9Q;Z<:SRZ*QCQL@=
M&6)V)&+_`*IOI`<@[-H.;##,#@E)3<3'K'/VI(NGS9J97NX]LJ971TC'.?N`
M."\]>@8!Z>QPQ'*3%>4CVKUP/#=FJ]:E>N3=GN=J#,RGS"P^U\?PE'X>OI@%
MF_;.J+2;Z-0LU?6DHY(KA^S-*-2.6"((E5%9VD"@B@F1,Q3")P*``/7`+FI:
M(0H("6:AS$<,COB+E?M10^33+W'D?<%<"&C2]`]T!$@"8`$<`PE'<6N77RH-
M]ATM47TLY@F)T+'#G2=S;5$57,4B!UO<.Z;(<*B0![A$>T/HP"SL=WU\LS>(
MFT*L*,E3["V@FDQ;)B&BXNUD<1"4O]Y0"KJ1;=[1%$X@H!Q[P$HB`=@=V`92
M[V?1HZ#;6"2NU.:0<LN1M$S+NS0R,/(**F%$J<>]2=+(NCF5*)0*50QQ,`@&
M`66[[6IU)US8MI/YE@K3ZO`R=ADYQBY:NXXS&+:J.UA:N#/&Z2_<1`P<E,/`
M_5DX;3-J97XI>1GC7"O4:8HOEUJW8,S(PS:;B8-F2J:YLT+/SL[7F4/9DME1
M)YF.CH8_WPJ[6DHIF3_C"`F8I!,''(],51GM7-<[B5Q+@JJX&[G.W]:0=@BZ
M5-;(IT/;YCL+%UF8GX)G-N_=(*J1VD<9ZV<NTUB!R02%$1`0^L,@]$L=!WW2
MMBSFQJ_79EBYD=:6U>H61(7\,J9D^9,R/GKA9!"4%PR:)(*AR+@`$HAP/K@'
M/T3^\$TU-HU.49R31K6+5LR_:N/:I2>JK&)KDK06$LZ<SLT)YP5`KTVI"KD8
MF)RN<R9@$N2J&742U"<58R=:X=AT3.[]U-6:O7[O8]I4*`J%I610K]BD;/$(
M1$V98I3$^Z7PJ*(N51[R@8`$Q2`;J/IATV%=J>LE<7F)*WM,CM.TJG3Z'-;,
MG9R+:TF`KKJUR$^V=D?QX5YBW,^=RC9V@04'B(,B]R?MCP=0P%R#<<D5'S0N
M4M,ZL=7/QVV30=:;OEV,5K_83I]7IX6+B>9+/*TWO54AA6FZ@::1;=Z2B_>F
M4%2@<P&`0#B&KT>J;T^DXO41^EMY<2;KM[O>%RWFEQN5N<>"E4J*JCFMU3HB
M"\B]/6:Y3NNH#:M$F+S76B[R>J\9.Q;R:@D&/N*/U7S87B!1*U01,*Q"]RB/
M43@`!EDM'KM&Z:ZE9XQI]N7Q.IZ;5:5\.J_<\5U&'.O,WQH;,W\@??\`J-)B
MP*#AZY6ND(0K9FZ6*BU5;@DY<J2"B)R&!0J1%.TQR@?L#KD')?;?Y6:#H"M:
M1N6WJ'`N;A'14M5$)">:MD[#%33@S6.EH]8R1P7BUE2=5RC[9!^$>H=0*ZR^
M3&EJG;(B@SVU*!$72?:LGL3`2E@;M)%TA('(1F"3;M4X,[*<#HBH8GN$,4P!
MVB`X!0*>5WC\E?\`_*<VX*,;9A7*T>>G??"(2J<J@BFN:*<\D!!N]4*L3L3,
M)3G[@[0$<E<-,3)?EJ(RI97TTW;=QD\7O76<HXH:+*^5Y\KL]Q*MJ*T1.H5:
MQKP*:YYI"*`Q0%5:-,V.54#]O:8.,.FPYL2U;N4O4\NFZA*L6_-5UA&RNYW8
M->A$*?/5ZKVH99R5FE7YRUH-W4!%O3G2.<TI*IN2E;$+RFH;H(\Y!M-*;G\P
MX+7CB=B::K4KO9JG!W:3M%76L1HJ=C)&LU1*U1T(G'ILWBKEV^;*@5T8."-`
M.03>O`2Z;#S97->OVI/W?/M[C)-(^2C[;]ONM84JQ8)&L5/4]F9N#/%%WLDC
MLRL(SSE0K95LV*1K7WASM>[CE44A-].:;=B$[7F5=:OJP\39IY796ZWE2=2X
M17F#X^S-_L.LV&VZ<K<JQ]Z?>4.NZ78E5&%2.XE4X^1=-R,)%Q$-TE!>IHG.
M9%0G;_.Q>L>7;4J-.N_V]U/>7&-5_P`]/%NS5.ZWN&V]`OZO0F!IBT/08RS(
MT%`"^3C$YY^F_:(J*Q1WYO;371`R:O<`AZAF98NA#RPS-<WW]Y%X_P!7H\9?
M:S:4[S"K[3I6M)P(YC,,7U<_;!\Y24G7[)Y!E<&:,F#4Z[0I2<ON`*4>1YST
M%HTW1X>WM7N//=S6[%7W>WN[RY%\_=05R/DY+9%P@X=-W<[A`4IC68RVV"7G
M8ZFQS66DT73$D`4[:TLF;HHN6P<))\]#9T]%#9NV[_`CS-?M5/=\S=L#Y0:H
ML802L-;F4LVL^K9O<]?68L7GMR>O:^Z0:3$PW.H`@*D2X<D1<(B!5"KF`O'K
MF>]9A;@I8\5:9]%0YZ]/)-=1K^T^=7C[4W=3:R5Z7#]KZ["VUNX8U"TS<=7:
MU8%T21$[>)B!BY2/IT3(%7*"1G_L"?\`/[BI_'F7Z28SUO$DU]-57#I]MAN#
M;F_M;Z/HQ]A;&LZ$/63.8EBT=LFCF:>RTG/``PD378F-2<2,S(2Y`$S=-%-0
MQN!Y``#G(/1--#YU:&4IS"XL[-9GZ$G9GE/;5EEKNV?YC(S<<P3E95&0UTZB
MD+8V+$12H.5UOE/:*B8#]IB"41E4VF&[/5JX^#_3V85_7VW'2U%V!`;'JT)=
MJ?+)3-8L3$DC#R!63Q@=RU5.8"&.SDD6L@U.EVB0Z:R*9RJ`("'3#IL+-/*_
M)OSLJ88&7_,*_6']$,@U%2W4.IW]P\\=O'3CU[N?XL`J,`8`P!@$I?\`LC_9
M^4,`MF`6"XF5)%,#HH"Y6+(1XIH`9,HG$'K81^)4BA/A#KU#D>.G7`,S2#@H
M<@)1$`,8@\#VF,'(AR```\#]6`0./[(?M+_'@%N:_P"-6_`S(`_@_6J8!,B?
M\"T_1/\`UAP"Z8`P!@#`&`,`8`P!@#`&`4CI`RP$$ANTQ.X2CSP/(\!P'<50
M@`(!P(B41#_5X'K@'Q_OGBOI3_UQZPH2]-%Q7;QIC<M[LL%^VMV!A+6V)M-3
M!M.+LE;"H052$L7;V\"4`*(`7M``&<-IR]'RRXG.]!O4-K&BILKMSS*776P=
ML:7M]FD8J2IK[2]H\];5IU6JKI3,[;4F]D0CD&<O%30S+A*%/6'4*+5K$>R'
MO-Q`Y@*/PX^!WY&AL)>CC)-_NJDNJE&^DKM)^9F^+[LK6#^>JJB&O=E[$N=*
M>P+754K%MZ:U0DIMK2'+/:,E8"-+<[41@%3R0(,TQ2,H4H)#P(@BN)TJE4XG
M+@BY4;HLEG[C/?+OR'VMK^_NZ7K"Z1\0Y@-9/-@+P5?TU.;FN,B\0D'BR(W!
MPW^2J^N:5+QD>9%"0=O#+++$.($*5(1'5'2J4>+S;2Z&W7X&1ZQI_P"C>[%X
MF*UOR,\C=LI6>]T>\:2US4]70.IY2Q56]QB;UM;'%XK$;995_/W%C-H'IT>P
M3>';Q8I)JINW`%*/'(<YIQX)N-4Z/-9/J-<)<<%*C55D\UUDBL>2&^;#17GD
MBYO&HT-<*W#8%6C]'S5>?0=@E%Z%]]H1:-<NOWBK,/[5)R\$9Y\HZ;>V=H!0
M*H4#&X[M6O-EPN48]+R[DSHQ2V>1'DAK.MLW$CM.B;%G=PZ=LNSZPFPHD9$M
M]83<,UA)5*-=#&R/RLO2"QDT7_C7QOF';I/L3(90#`';TZC&4O,@^'9C675A
M\:`SF>O7E#7)W;4$MO:H2+76&LJWOH7XZBADG4PPF74F[?TITR5=KIL84$&J
MPH2:?_&IGX#X0YS."QSF_MZ"]W%M=':T$QHFF+-JTL-I\M7C)52X5^[56K3#
MU12X`[_:5!U)N[,=.*!(Y#&4:]BO:4>HQO5M-KR;KH]RQZ5B:_:>5NXWFR:1
M-0=^<VF@W_;JFND6JNLZ/6]//$W7WJS3CZ;;E[*WV3+6NDV%L!7RR#1=$ZA1
M(HESW&P76;KO1;<)0H_YJ?HV7?6^Y_*R>C=/JR&X8VQ6'R'UANB<K\2M0(&`
M94.PZT!]^RKR`%L8SZ<<OS`FW?D=*JD-W',0I0[<&FW;=V?!&E66]AY'7;<S
M**M1Y^`)K^&VCXK:TEFBT?$34>EMIY-KRVS#QYY$@J$?L94R+!J)>%F)4B"4
MG/.#3Z*YQ*-8U?7L]W25E*V_Y*-(RF;IF-ONMF0=ULOD!45-0O*G5$(@J>O8
M6W3M7(P>0[)&8<23=W6`^:.F?DR8!\7//`R-4=#(=![1V\IY"^/$/9/*&`W7
M$[OTM?KW=M:1L55V9Z7:HUG!2B#RNKQ!RRI*W%OU3L"H/0.H#ELL85!,;M*(
M,`\Q64_7_)O?EY;WQ-5W5O"*.N=8JD]5:=:(AFZ8W)[#R*4;^T,0X7C`F`0.
MY$"*E*+M4HF$H"`X!4-=P;R;%G]LAO21<U2O^;]6\=(?6#6M5/\`9%]2;%+5
MZK6-G-N@C5)^1E!<2KATR<D59*-VPDZ=>W`,;J7DWLA_Y&:C?Q.VM@VFF;2W
MEL/4\_&W:RZEAZN:"@D;I7D%Z/IJO&7V+4/N&P5XR0R<LIVK@?J4PG(`#9Z*
M[OCAU^!>ZML?R%H=$UQL]/=%UVG8=P:7\C+:I5[2A7G-8B)_7,&ZD=<JU^(A
MXMO*E&/%`$UP%8X2"I`,H!>,&>Y;=J?!*E2?<+^WJNKWJ]<\P[AN20N4#IZY
MS)I%&JWMG4EI79-,9V.R,).)@BQ5883199:.1@GZ*R@-VIO;.F8A3!7=NQM1
MXI5I4OT>CN:ZZ[5IQ4E&N.6Q;$]YJF,\GK@XW-KZ2C-PW=[#[!VI9:3.5FX;
M&U8O"252>GL"1FD1I2F-9N>H$?7UFQ>U]+R`/%4@*)0-W<!0M9;;2I+'J\3T
M9<AU44WQVOI57B]U</I.MZ-8Y:H_NNH&>I=^BJ%(Q.LG:T-=G*L@#2`?.+&\
M;I%>*1K&1?1:3M-U[1W?RRP,RJ>\)1[0S6>&<.N+6YO,3K.)NVR-C-B:V\M]
M0/"SJF\ZOLBJ,&,_5YCV58';U6BF?N,UUR]RC2:1!V@+DC5(HB4`#R=3SC3:
M2_*Q<C<<XTR2IBJ[SUM+R?4ZNRK]N5M0E7-NN#IN9*C-Z6B9W;KHJ>X+VXA=
MQ;`VEK>PM#[KA;%-VVN+U^>8Q$DUU'68)^QU0]@'[-,A$W$@#U^G^M%OR;D,
M_P#[#HU_)=[%_P!0U')]3ITG.5MU=,&]U=QC-1M5FJFG_'G5E7V^>-U_':JM
M-EGK1+^2RVL78;=@;4:.E:VXN?[(SZ'ST/%)`]4@'+=%(RQ%.>XXB!N[7/M)
M=N1M*%U2E)+%+-NF\R2T=V,7)N-%U^!N@+9M_9T'LF:MV\-@UZRZP\4:1L^O
M*:QM<W"U>:V%"SEL32N"J<G`1S^=(*!4R+MQ:H,I00$PE*`@.>V9"^W>P;<U
M32]HLZSLK:,X%YTIXZ[(G)ZTVFTNY&$F+E:VD+M"=@YF*;F>41%2M.G"I_NM
M-0[)$@'3*)R`&`6&`L%YL\''Z]8[OE9JL+>6.FZ]!S.L=K7^Y2L/6IB%>*7&
MJFVY9J\P5L2+Z31$[D/;7.W*8"B*1N!$"XO8&IIV.H&N6RMBQD;H;R[\B->:
MXL:U^MAY<?G=;.)*O02RBIE%+FBI.B`>THJ!W`@!"AZ``&=>!=K6'=B-.7MD
MIL8D_JF6L+^UUS:^PK75GSI*PM7!Y38NM[XU"1UCL9^D@"3)-F]%MVHK\`8.
MT"@6C<U5?QFQ?/3>32:V57[+K+;'CY)U5&K3<TPAA$:=K=A.2!8>.10C;F,]
M$N1C7A7*9TVB10+W`(`8,LM7;A)P:E5/H\0:QV?M"7:[OL%KKMQML1>V_EE5
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MSJ$!4$$0+P`%#GH\XU[Y9M-2(^5NV$-KM=JS$_+^.U4/IIA26MZ>(Q.PBS%V
M8QLE`2%?<EC8>X.Y59)-JX>>TW*/Q'Z=!R/66DZ4EW>)-#";!I79=MJGD9<Y
M:H6(V_XG6^BX2,FW2%ID9LL:IKJOL-FHU=O'NXUG8W[R+<+(R:#!!%XNX$0(
MX1./?EMO7<P4?_!E&-FN/$VG7;DGLH%I>6WOJUD9.[E@D\-F;72:$M,57X;3
M&ZY&J+W![KF5/X[QUMAZ3J?:.IZT:P1NT(-%[]P&N5KDITVPW4$44GJ3`[=J
M<`,!CK<ABYKN8N-==*,K/^%MNNS-+`MM\LY)=EP1A/?DO$VS?F<0DTN\]KS5
MD["^+4GLS5SZMM-B47;CVDPUNBZQ*)627<:EBCQU^F*I87"C:/42-VQBTHJ5
MUR4R0F-2];9V*5.I>)='D?*.'&,N+J7B7[QAT_\`YC*ZIKE\H%HD:96/)#R-
MN$#%W.@V:F5AE5WM0A%*BE&U:?=RB4/26LRZ2^[FK\SD45T^XH%[>NS#W&5Z
M#D=/V3KU+_J-;:RUIL%/=M?CF1;G`>0E>V9?+!<31_CK,1:JL6X-<V\9-W[?
M+^V1\1<Z*#6>:`DW9$4`_M"*3?X`Y$.UIK/T:1-6>FB==N53;7B_7ZE'>2_C
M!'531VS:Q=J%JW>=:\C+K)TZ;AZJ[NKZ'A$5%E;/*/1CKE+SD@@9Z5VV!4HM
M5TA`_>=1,@@OG[Q2NV:V;GL3!MJ&9GE3Z320H4^VTO:-Y*72;=2+S_\`5BJJ
M-9^$J6G[)%.#E4&3=B9=4A?<3Y-QD2?#%R>23?83%<4E%9MT.?++2[^;8=%>
M!INWVFY6:@^*JC.H;$U/.S#&?E*K6J6RM,G5O(&HV.*FM+R-0<-#ED6DTHLF
M\7$#G2<)@8`\/_V#2/\`DN]B_P"H]M\AU*K_`%+-%GB]G_"7>GZQVC'>05MA
MJUI:=G+(^LOD8K-NMFZM_9J<UQ`['C9=5.Y5CR%J,DUJ>VX&T.WR#%E#OX]P
M+<>I0;"F!2OS^EK3R[M>I?\`4<_@]1PJ;NV>!Y.KV_\`"500NP-JTBLTEIH?
M=D)':S\"-DZAL+^W4J4@6S_9Z$E640KE4^<7*ZE$I)"-7!)\FF"/88HE$3#Q
MFS1<SL:ZY*W:C.+C&OU);Z;&S-K>6WM#!7+DK<E*5/I;>RN."-XV/Q)@(:T>
M31:CX]11(4?$ZC(4-JSK[Q%@;:K-I/BHE"-O>428[$:/HQG\])-BHN'J0`0Y
MP$PFS?*7#%R>253SXQ<I**S;2[2T)Z)O%SW;49*^Z3G92GO/)2E6^?2GX@[R
MN.82"\5Y*L2LD_C7ZKWYZ+)/H_*BDJ<Q55#D(/'T8?R-K[9]B\3<]!<7\\.U
M^!@:]-=:RN,<>]Z34V+1H.Z>7$17-%OWM:9.(J(F+,W?0&RJ/0[,O$,I77K*
M)1<(H.T@64BB.E#@HGV_#VM=::K27=XG'H;FR4>WY'3/C#4GMX_=<M*K"5Y-
M]*V+3NV(%E66Z$.];.WSR3MZ\;&G;B0Z2SOL<$;`0O<43E#@1#KA\PM+#AFZ
M[J>)HTVGC:D_.<>'#?X=*-$5+1]AO6G]YKI^-<[$23OQ*TQ3]>LK#08J`F3W
M>K5^6CIF*KC5S[OW3)Q,BH13EHHD9T'YPD'@1KES.S&#FX7*);EXFR[I[$Z6
MH<$92P3;HE@\7T&O?)O4?D;>E[K`5W26Q73^?J6K46SFF:OUFHG).XF*K+J9
MEIC<5IE?VXKDM'O"N$S,8IL":("8"J*^X()Y%S[35IY=[L7_`%%#Y-=2XG>L
M*/\`F?@?3CQHK;VK[*\@(F;TU+TUI:[%`VJ/O9:E#1D-:X2?J<!'O8O[\:.%
MY5=_%S<>N+]!PF5$I#@<JBAA$H>O9NQOV8WHIJ,E5)YX[SRKMMV;LK3:;BZ5
M63ZCDK6WCY9QN]$HLUXZN&%=UQYE;BV!(24S5*\>BSE,M]7NZ=0M<6LHHX//
M@G*3:/NK'224:_$!0,)@`>;VIAIVE)2?%NILWXHNTURU;4E<3;=*8)]>9IW8
MOB[Y#58:W88:E[+"IQLIY%T:/I.LH#45NGZQ"7#9?[4TIPUKVRVBM5"!N;0Y
MVZKM`Z3N,:`B4.XW)0JMZV%VXH*$TVZ5:5/B7WK^EE:E&$&IM8.B\3Z%TSQW
ML<[X`K>-5R;/XFU6K4MEI*J,O,1\P_@Y278RKF$BI25A8>.CD08K+)I*D;HF
M1;D$Q2F$..=AYQA5'V/YH3J&G]4-M`*:C=UPM>:;HV]?I2K6.@GKE;'[LF8_
M7$;7YY.?>S5N20!PT7=MV@M4U0[QY*//D3YERG279>DMWXZFM)-QBH\7\SKQ
MMM.56L$Z;#:])SGRE=LWM,XM5C%2DYM4P5%#-+!XT369S?5]!;M?!H;5(^-J
M&OE=";7V!L6S;_-.U=5G?601UU18(0;F)>-+A*S.V%+&V^\22B:+,@(@4QU.
MT,FQSW5:[BGKE-N+I'<HY[6DJ]&9U<TNOE26LNV;EQY<$I/#;5.*::>:V;3<
M&GO%:5J[?PFC;+IJLD)K70.U*YL1,\135`A+Q:H2L1C1$'*23@IG-@68+%5.
MD4_9[G<;C@W;9=YG9M1XY0N4ZE7=O*_1SHWQ1HGTX]*PR-!Q]:V1K>[:[U:A
MXZK;5MQ?!QU4'\`YEJBD\IOWUN:T,(Y26=3P'04KR*$DD9TM&C\ZFBU(!"&X
M`H9/S^EK3R[U>I>)VM!-JO';X=]7X%#LSQ8\KBQLY0F=&/;8L:=J=G#V:IRF
MN*?!RZ5095E&=<;$?2T');)LUJCUXU5%B1(Z*)VQ$S"L01$A<3_NO3)M>FU=
M/\L/^LA:*3RG;K6F;\#>SWQ@W"I5]H$+KFM+6"Q><=`W%7Q7=5Y>3<ZXA5Z6
M:?F%G;T53MCM"0RXIHJNCJ'-U`0[@#/;Y;S&',K#OPMW;:4^&DTD\$G6B;PQ
MWYIG<'8TS4;U)O%_3BL:4SIE1]I<O%FCQ-D\R-YS4-9*_<=7^/BTY"ZJ/$.B
MRC2L7C=LF:Z;+BC+II?=YY""$GRI0;K*E(D?@P@/(9O?0<7[^GG9X;<6KE55
MT5"Y>7?B)L[<VYH%[5V<%(ZFN=:9$VXU=3BL.Y1NFLAE)#3\FVC2G(1X=[+R
MA4W2I?[))H3UX`,&(TRY\-?(Z2UGKJ3L435I3=TS$>2TSN58]B0*S5LVT=<*
MU"I0:(MVZJ#YJ@BW3!10H_J_BX[ASQ'S_2)\/!=KU+_J/56HTE<8/AIA@O?M
M.UM`Z?O='OVQ;':XQE`QUNU;I&L1)6\FT<*)35*J)8J?;%31.)D2M78_J3&X
M!3CZ,]/2<]TTK2:A=PD]BW?YNDINV5J)>98HH8)K:NFBJJ>^IR(7QD\FGVN%
M_%IYK;5,?1JH%Y=-O(N4F$)^R62+LKJ>EX<M7J9&362J=F?RDQ[4R].L*9FP
MJE[%A4#+-1S>Q<C10NUPV1I\:F>YIW;MJXY1:;IA6M>SVV%)?O&SR<WQ7)N3
ML.L-<:CG:IH:5T90ZS`W1E8&%_5E)RF.SVE5%")CXF$KE=:UI9PQC'*+D_OK
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MW.H<1#N`O7/-YG_<NEL68M6;\ZRR2B]CWS0=_12PX)+&N4?$U#)?N[=T@G*-
M!@J3L5/8.I-94^SF?;SVK0*W4KE1Z.WH<DL[KU32$;SK^4;-BO!C3F;'.8ZA
M`!,1`V>1;_NG37)Q@M-JDY-*KC"BJZ8_63*]I9Q:C#ZFG3]O?B=^>3&D]G77
M05`USK8(]Q)5*:UX6TQ$5;96@.;/3J["R$9/0E4NYVLY,TMX=TY0,T>E]UX1
MLD<GN@8XY[#U]M?RS[%XF-:6>UQ777]$SB6%\`]T0U=N2$E3M26@\WN5?9<;
M62;@VY#WA@5]1(NN"^KN]DRK7B%DDY!J(O$!07:ND0]L!]H"D#7;N*Y!32:3
MV,T1NZ:U!6YQ;N)4JDJ=].]'U%\9=7WC4NFZ=K_8%H&W6>"9.BN)=5X\DE46
MCM\LZ:0ZTR^23?3ZD4DI[0OERD6<`4#&*&65P,^IN6;DD[2:74OT-_?*J?63
M\9O]G(,Q4()&2[NX2CW=O''/T<_6`?7@$_`&`,`8!*7_`+(_V?E#`*%-$R@"
M)1*'`\=1'\@#@&.6TB:L8U!0!%-I)Q2JP<`(F[))IV^WU`!$#A](A@&9)B8>
M[NX_.$2\"(_`;J4!Y`.#`&`%3`0G<//`&+Z?@,`_@^K`+.S((23]3IPLB10H
M?2!>X2\&^@!Y+^'`*B)_P+3]$_\`6'`+I@#`&`,`8`P!@#`&`,`8`P#64MK:
MF2FQX':CV'*M>:M79^IP<U\PX(+2"LSJ'?3+0S4B@-5S.7,"U$JARB=,""!1
M`#&Y`PC_`-.6FS`H!:4W+[NYP\A%13>2!!/N$%!4+<S"1P'+L#"(`E_8@7D.
MWC`,5K_A[H.I;!-M&"K<BQL:=AD+>RC%+59W5/A+5+"]&2L$!2G<NK6828?&
MD5A46;MB"(J"/'IG%RV[L';B^&4E2NX>9&U_5FJPCBUG@1;4\2-`[JLI+9LB
MC'FYT8AM`/EV=@L]>1G8!DY6=M8:RLJ]+1;>QQ3=PX4,1!X59,O>8`#@1Y\_
M\+=>=Y]K+5S^S%44'3IA5]Y9I/P;\79YU4'K_4L4JXI<)`U^#]F3GV3)Q$59
M!-O5FMD8,)1LQMQ*TW2*1@,F1T+8I0[1Z!GH6[;LVXVFZN*I7?0KE=5]N\L%
M)URIGT;"^-?#OQZCMF/MOMM:0B.P9)5XZ7E_FI=1F20D6[UG(RK.`4?G@F$N
M_:2*R:SI)N18Y#\";,FKT5S5N+A-PX:Y;:A1<LBVU+PO\8J3'6Z&K>J(ANQN
M\<:$LB+I_.3'OPGS0OBP,>K,23]6%A&\@(KHM&AD$$EA$Q2AG%CE5VQ<C?E=
M<E'&E7CA0.+1MZ4T_K>9<6=Y(TZ,<.[E3&6O;,Z%-4CF5ID>#D&<"NL0Y3%9
MHE>*!\/`B`]?0,]$@Y]@/##4379=JV7:*K`667D[<PL%-%2-=-C4=A7ZY`UV
MNQ39-%X5B]")2@RJM3JHG^6,;]7P(YVHTQ:-3Y]8MVXVE;?%%)-\%:TPW;:;
M#*6WAEXM,[>%];Z3I*%S+-JV)G/IL5T7\=.NGZLI(2D/PX*E$O9>07.J\.U(
MD+HQS>YW<Y7.<(.DG&+Z6BB6MCKGQP32CAE3IW*IELGH>FL(:`4H-<I\);=<
M1%@8ZADY",5DX^B/K`1/YDZ3$CM!<T<X<(D%TD10IU"=X`/)AYYC<MREPQE%
MOK1WIY*-U-Y4?PV=)@VCO&>KZZU9$4*YH1-_F6=[EMHS4VY@F\7&N-D3<XK9
MGD]!0)%7'W&V82C@?D4C*'.BF4.!`!X"U4VGI2N_56,L*(V@^TI0"5=C7(&"
M850T":?>4F7C&"*KVDV*RMI5O(V>OI.$5T4YM;[Z<&,H)>3^YP(@&<GD/-]9
MR=H?P70U=MU/;ECN\%9Y6OU^S0%=&J:W@=;@N%O.F:QR]R<5]PY5LLM)@W2*
M<ISD;IF2!1-%-0ZACB#MB?US0K2[D7]FIU<FW\S`!5I1Y)1;9PYD:T1X60&"
M<K*$]Q:*%Z4%#(B/8)@Y$,`I4-7:V9-GK%"CU9NS>VAM>7K,L2S(@M;VAT5&
MUH51$G;]\I&:)\..._A(H<\%P#%6OCYHUC8UK>PU)KYA:G4HA-.K&QJD.TFG
M<JV76=)/7$D@T(\56!TY54-\?!SJG,<!$PY91;CU/.7WKM1G,70*3#-X)O%U
M*!8DK+-_'UT4(MJ56%8R8'"2;1B@IF.U2>E4$%0+T.`\#TSAJC,6HEQW>*M<
M#'8;2FGZRUE&%>UI1H!G.RC25G6<368:/;3DFU=B_CUI9!NS3(_.S??KFY#@
M)4E/B(`#F365\I457Q>)Q;ORT[<XU553`G1FH-20S]W+1.MM?,)65=*24A*-
M*A6TI*4>J<&5D'K\D<#MXY-W<BH8XCUYYZYYT5/B7TO/<7OF=R2HW/M9F#.K
MP,?#)UUG"1[>`1:+,"0J;%N$7\DX(":[91B*(M5$54P$IBF*("`CTZCGMLR%
MC2UCKMM$K0#2A4]C7W+H'CF!95F&9PCE^!BF2>KQ;=DDS6?)*$`4U1(*A#<B
M40',MWE]N_-W)<-7^F!HMZ^=B/!%R5/U=<.O;O)336FO&"JSJ.I54:O'K]"3
M<OVE?AT'[R48%[6<BN^;,DW2TA'$#M16$_N)%Z`/&<+E%G)\)HMZV>HE]<I4
M6^M/`DN=;ZT=L'$8\HM)6BG,XK9'3!Q7(0[!2QG4`Z\ZHW49B@68.JF`G<<`
MH)@Y$><Z7*K,&KBX:IUV;#J<DH-U_E:S,O4@XI47@JQC18TDW2:2`K-DE1?,
MD#*F18N04(8JK%/WC`5$0]L"CQQQFRC/+XX;UVGGW3$"LH<6$>995JDP4*9!
MN83L6QUC(L3)=O`LT#+G[4N.PH#QQD'2:>*R)#.#KL:T:1K"(A8]DR7,YCV+
M-@P:MV3ON/RZ8MDD2I-WB9Q-^M(4%`$1Y'`)JT-".!33<1D6NHBY"1**K)DH
MX!T8O89X8YT14]Y8GPF5#@Q@'CNP"I:QK!BLZ<M&+)LY?&-\XX0:-45W)QX[
MO?611355,'3\X1XZ9/#+<P0%C8LJRAC-6A!>*"5P(E2+\T8R;9-0BW/]N)TF
MB93`/(B4H!Z9X]Z,_.E@_P!SV#CBG1M=J*M"(A$5UWA&C+YERF@BLX,5(RRR
M#$A2(H*+FY5500]KN[#&,4#AW<<]<UZ2+BI55,4*Q?[6F>A%Q)>]9N@A[Q#H
MJ"JF?E;N9^\FC[BQ#>\<J`+J``&,(!W"'TB&;`VEB\B-DWCB%<&219(E.N=T
MO\L1!`BJZO)EG*_L`0%553=3'/R)A#K@XXX?<NU'JD:P(0JA4B"8C@SA$3G$
M_#IQ[9/>2%03"5<0``()>!#GX?7!WGBBC1!BH"0-CM5"-B^RD1NLDJ1/D#)@
M0P)G/W&#@P`!^>!YXZ\Y*3>*3H0Y16;2+BDV9?JEBG`3`!>%07$3*%13%,$S
M*`;N.DF;DW;SV@?KQSCADLT\"..'W+M)Y4&9#!VD1*(`!"%^#X?U8EX('^J)
MDAX'CU``R,1QPWKM-<L=<TAEL.7VFWCS$N<S7651DI<9:14;J0D4^>2+1HG'
MG>&C6RZ+I\H854TRJB`@`CP`!GC>7=XVN"5:O8_`Z5RWME'M1GP)1RJ"K,5$
MCII=R:Z?S(F.F"O'<DJ?W!53!0!Z@(AR&>EI+<U:QBU5[F0YVZ_N7::WV3KF
M@[6@D*5L"/0G(<DU!V9K$*22[1?[TJTHVEHEXB+9RB^,FS?M"&,4!%,X`)3@
M)1$,C5PD[%6G2J+=/=C&[52BG3>C.?93$Q3]1$PAP(F$P*E*F!/:$#B8#H]A
M0'L_-Y*!N.0YSS."Y]LNQFSS+;QXHX]*_3:3P,10!*14#BBL8XB5;W#I.!`0
M'O-WF,4Y2G$.TWH`^GIGN<,EFF>;QPWKM0#V@/V"8H&4()C(F5Y]P@G*`J"D
M<PB8I#F``$`[2B;CZ<<,MS''#>NTKBM&A3BH4"@J)Q,<_>/<8YP2*83=>!%0
MB!"C]92@'IBCW,<<-Z[20J!2',!3")3#R0!/W`0PE$IO9Y_-Z<]`]/HPX2::
MH\AYD%C5=J+<+1F0Z0<^VHB03)`#@Q#E3]D&PJ&)[G"A01+V]Q@$`^W,2Y1&
ME4C2^:1>#:H]GOK\<2+Y5J!4D2<)D25!0B:1RE`QT!,(E.4!'W"%%01.7TY'
MKC\3"F2H'S-2DY-UDUO#<[-QRX:.$%R`JND91JY(JD"Y%B@Y1,9)0Y04271X
M.3D.TP"`@`Y=:T/II.26+6YE5S6V[D5%R26&;6S+XD8H-QX4,4IO;$5!.903
M%%0`*`K*B)NTZA0)U,;GCK]8Y?PXJ,EGACTE3N14'=BTU%-X/=B69[/UAB=)
M&4G8IB9>0;PS=):6:->^6<`F\;Q*:8K)]\B[2`#D;<"HJF(\%$!R]<NA+]D*
M^XQ+FEQQ\QUX=^+[S6VV?'[26]HN+B]P:]K6P8Z%5,M$??[<YU8\ZZB)G!6C
MYNLV>((OO9(FX2*H"3A/X%"F*(@/B:FQ*&HE!0=$\J/<>SI-7&YIXW5.-98Y
MKJ-DP5?@:W'1D)78V-B(2'8-H^+A8YNBV8,(MN4"LF<<U;E*1LV0!(?;`@>H
MF'D1$<OT.GC-R5Z+62553''>4:W5RM*+LOB;K6GNW;S!VNZ-02EP<T&*V=17
M5Z34<>Y36=J@UK'[R`E!P/W<G('<JJ(@/ZPG8*H!T,&>E<Y;"5MT2JUGAGU9
MU*+6HUN%R5JZK$7B^"=$EM;I1+WFU2H-Q03(5-(04`5#I]J8E/SP(&$G'`@;
MG\6>;^)@L**BZ#6^9IRXW)UIACBB)($0[2`<A4`Y`R9#)E1`I!X5`Q`#M[0-
MT.'U]!S7"R[4%;2=(JF11*_"Y)W')5ECBRO32:(E%-NFB0@"`"1$"%(4>.X"
M]A."EY`W/'3)E:4_WKM"E!_S+M(1*V.<`Y`%$S<<E5[5"B<05[#<&[@[Q*!N
M/IXPM/&/UQCW$N4/N13J)-D`4!`J2::_*BQ2"4J9A5.(F4$`X*`N#?G#_KYU
MPRW/L.>.&]=I3)LVYC@F!0*`%%/VPX$A0*7D`%+TY(40#J'0@\>@YAGRVW)N
M;IBZ]IJCKW&*@JX>WSZ\3$PM=3);B:X7G&7[9G@AM7W"+HGWN[K2,B+()4C4
MR)CC#)2/ZGN`Q0!3X0S5I^60A9<Z)QJO;VP,.KYE-74HX85W>\R\#,5`+P=,
M07(44BE7$H"(`8!40)W`8JA@=<&$/B^(`'Z,F]H+<XNW*-$4+F,\'MZR@5A:
M^K-%L*D<P&=+&EAR2W8F#\L5\XE(%CRN?[7Y3YTA50)SV]X\\=>N7\/8W8]1
M/Y*:71UE48$_=%00[3F,!C=.`5$@=I!4`0$#@GSR'T`/7+E=T<5P>4W3!_1\
MBO\`)W:="Z2(ADC`9,3IG$Z8^X10R8F6)^K#W%2FZJ=O<7@P]`[@^O+(N%Q<
M5F#C&OVTQ--G4^=#BN436&>SV98VT57*HPDE8:*AJ\T*9[+2)(F/81C,SOVC
M'>RLB@R11^8="1(055'E8P!P'7.^"6Y]A<I1>":;ZR12KI5=D5B$O%(ET+!5
M[$S5<04RR,Z(W?MBK*MG"[4JH)*`47#8X<\=0*`@.0XR6::),F`J?!4B"'(?
M$F4JICF#L,)1%,!,8?A,`E'C\(#].8/P\,VE0CC5:57:8_/6FOUPT:::FXZ)
M--2[.`B?G5T$TY:<>D5^2ADP]E115PY*01`"CW`!>G&;]/RRW"'"TJYO).F_
M%JO49KNMN6Y<,<8[\6J^ZICTUL:F5Z]4W7LQ.LXVX7=&:>UNON"R!G$L2`(W
M&5=M'2`"D4K8CLG)5C]P`H`@''.:(\OLRA*<%6*5<*5[.CH%K63NS\NY]*2>
M?MM,_*LD!2")4P^8'N*5<$_<,<Y@3]OD_!E#`I\(?2(B`>HYP]#93::3IG[=
M1JK'[ECTH"9(X=G!.#\="'`@J`8P\%Y(8ICE,8@@`<\=!#'HK'VCBC]T>U%D
ML]GA:37+!:K([/&URM0;ZP34BJ<RJ3*.CD3K.#)MQ`QC@1!(3=I>1-Z!U$,A
M:*S)I1X>)NB3ZJMMD[*IU1A>H]LTO>M-CMAT)6:<UB1.N5BI/5^7K+\ZC<Y2
M>^,=+L&+_P!I0AP%,QC&*)#!P'`@.<ZFQ8T24KL5*OVI2^:ZZ(52Q9L\52'*
M4/=(L';[I4RJ@H=0I3=!*`'$3AW\``^G(@&9U>T<Y*'E27$Z5<*+'#<<2NPC
M%M-52KF:,F/(?6$5+0\":R(O)2=VD72:2+-BX<M&>RQ@)*<"!=*'0ZG^79^X
M8X=Q$P#U`.<]!<LLOZOI4:5S5:=6_H,7Y*^OY95]YN]N_:KH%<G<M?ES&^)8
MRJ`)%15<'2(!5A$"_++F#M3-SPJ'':(\YGE:X'PP3X=F'17^)JA=XX<<VE+;
MCEC0OI/:)RF0Q0[.!$@'Y$@&Y[>0$1$H#P/'T9S1TKL+*INBS(^0^L/QAD$G
MO(#Z#S@#`&`,`8!*7_LC_9^4,`E-?S#?I?D#`,/NYCI11_9#J9Y%\\!WB(C*
M-.G'7J(C@&8-3G,4W?ZA[8!TX_\`AE$0_@'`)C@!%(>`$>H>GVX!;6H_\:M^
M!F0/_P"JI@$R)_P+3]$_]8<`NF`,`8`P!@#`&`,`8`P!@$I14J8E`>>3`(@(
M\%(``=,@]QS"!2CRH'`>H_1@'(DSY=TJ(VBEKB1H&WFC5U?(G6C;8KJE'::^
M<W.:2$S"-:23IXC)O&9UNU$SU)J9H10_4_`&$`+_`+H\EJWI.6J=;7J.QK]:
M[E'3,['53658_:F=1K=;*P_:"QOFGS;0K>*B%91!-0W<)SG4X(4>!P#31OW@
ME$D*O1[-3M8;BV(TNE.<;!?M:54$)*:H%%2E7,"G:+I'.I1@9N12:8.D`:M!
M=.^YHJ/M\%#D#&)#SCKM3M=KD'O[:WVHS"^@H[5T/2*2@]?/7V[J?,V2';,I
M+[S(K++R18<ZC@KH&P,1`I0$PG-VA5F9-?.JLN:[$*0NJ=Q6.^.;?::-)ZAC
MX"")>Z[*T9NF^MKB?!Q84H1JPA8IRV='.1VH90CQ$A`,H;MP#:&M/*?7VS=$
M+>0R3&=J](9Q=CE9"/L#$S>RQB=8?NXR39R$<0RB2<E\\T]LB)%#CW'*!N,`
MU`U\WFR$-892T^.N[Z?,HIP2^OJS,PL823V<-KDE8VMLH5TPFWD+'S+XQ"JJ
M-9!=HLBD83F*`$/P!;'_`)X##UAFI+:"VTVVBMLBJZK=ZI62A!GV-GN3"8DX
M0R\DE.*UU]%"VAE`.Z;NE$@,8H`(]>`*]EY[!-QD3%U30.V;%MU>2N,-8=-M
M6<`TL=.>Z\=LF=O4FII[.-ZPNR0-)-A9';.UOGQ<%(CW'(H4H&&7S]X]5M?2
M7R[C5EM,$)5ZU;]J#8K%3*<OK1I9E0*TB74):K&QFIZ>;HC[RI(Q%RF"0<]P
MYIL:'EVJBYZV48W%@JJOLJ_Q)39E%K\[@C&.SK35-,6*Y:WU0E7OOW8"-HJL
M<UF)"TQL%+1495Z\X75GIDRC&Q-S"N#8$/SN#B/&1<Y=RO3Q\W3SC+4+)*/N
M>/O9+Q-Z:&WU-;>E[_5[9JBQZCME`7K1W,+8)BO3(2L);8PDG"S3)Q`+J$12
M4()RJ)+%*JF8O`]>0#.<F"><>Z9K4VIV["I;`J^M=A[-LL9KF@W&TK,$XBL2
M\HFI(/K&Z))B5JX)"0;-9S[9N[O`.T`$W`8!SD?]X.:O>-VF=G*PL'>+3=+'
M*:JLKR2N%:I>N('8-);/6]H?6G83@LE&5F,7=Q1U#*'#V0.MR3D@\X!U0Q\E
M(MMXO//(R[U!2OQ["AOK_,51&7BYY4RC47I4&<1+M5WT4\),G:I_*KD.*!P7
M((B7XP`#AF;\Z]J:VV=<KMOC6=@H%*@O'B!L-8I3*<B['&W"S77:#&ITY52=
MC&2+:"?'6E_EY!)YV)QZ28N#'%'K@&9&_>1R#6KWY:1U]2S7BGV2GQ'OP&RF
MMDT]%5Z]I//D+7<=F1M86<5N.KSZ,7:3)%60F1<$#L$2"43=<3/G^+;1=AGD
M-YH[4V)!:QC-5:EI%OV1?(^\6Q[#DW'"A1_V`U_,,JXZMU6OT"U>#*1-KG'R
M:<>DJU0=$`!^933Y`<ANN)ZVC=;"?2S&[/Y1[LNJ]NU^EI9SK5:N:-B]H7^9
M?;&BX:^4<EA5ML.V1I9F,8]0?23*1K1UVSI4#(E;G*4P`<W!8-1KFF>4/D75
MGF^+DQUV;9^I:59=:O9B2F[X1M8Z_6+#J*E2<ZWHL6E%&;V.48.9(KV0%R=J
MBH90X)\CT`#.5/WC2BNSONJ#HM/GM:H;!8:X;&9W.5-MQ][C]I"O;Q":U9TA
MVR6KC:6>#[I5GR3E-%!013_-Y`DD\B=[;*V]XOV,:PVI.CKOMZZUV,=P5J<O
MYFPEKT588UBPO,&:.;,H].>7CEG3$6QU/;(F`K"F?I@&<[_W]:-5;VO*59K+
MZVSU6\;XNVQ%;>WB:C:G+N)G9D=54&X1)&[E"/EDES>XH[`>]1#]6(CR(8!M
M[0FZ]J6K9&Q-.;PJ=&@=D4NOUF]IGH<G(2D.:JW9W($CDW:\TRCU3OF"K,Z"
MIBI"7O+SR;J.-I$H\:<=^':?/2U;RW+KM?S4@[!=YR1UW=KYN:AZ6LBRJ2<E
MJG:==JK*>9U0]C!P4A82=3[QBSK`F<CHIB&[2\",XU*%R.;556C-\(>2_D"C
M4I1?65(H=KJF@-1Z^?[K=WV>G&5KND[(ZXC;;.0U6&/1>,6KY".7.JBY=&30
M>O%`3YX`1R"Z-EZ:*L/..'ZFL:WY;;OB+#Y'6!I*U2RQLYN'4]6U$PL"5W>L
M*4UM>L(B[/4)"*AP=KN8K]F$U%A(R1!TM)&5[2'+P;!T=O\`C)ORS;YIVPDK
M3"(5NRTFR/Z^WE(R%LL=7;/&R48SD:I;ZI'WB(C)0C-0LF0I6ZHKA[Z9BB/4
M,XN3N6[<IV56\E6/7L!SKHZKJQ7DZSA=>;:V=M$:W6[D7RJN5EGYN0UZZNCM
M!J6HUV'CSO)&KUR^PZL@=1TQCOET4$$3$7.*Q2IE\]\SY].D90=/#<37&A'O
M+>NZ--^3.W92+D:O8:'6_'.CRU-UQ(/IJ-3?W"U[/5I4>^!4#'8(R"UF6]E<
MY1`H1Y`#N`P\!Z5J=Z5N-R]_JM*O64/E$[TW?56I/YG2^G]E[A+MFRZ3W9':
M]>3K35\1LVL6C7*,NRBI"/7L3ZIVF,E(2<<.746^BYL`*FHF8Q'J!Q.'`D[0
MZ==I-K2O35K_`#=6SJZSY]OK+Y#2.TYP#6BMRTQ!?O%VU)JL:X5LS2MQ[64T
MK/J$8.3$G55I"#AV[E)V#$B;5-P_*H<Z9`[>8.KEKSH.T\FOAC^AMIUYE;M;
MMX"G/8"J-]B,]H;FH-RM%<H&PMD,!B]2'B6YI&N4:G).IE9_/.IM(5$7#AN@
M@D0Y^[D`SJK]YQ^&N_O_`$7\#>$)MG:VV?#/:-[)&EUAM!C3=FP_S,[!ST5$
MF?UYLY(PMC2NO70V&/BYM@D=9FF98'"(G*4Y@$HCG):H>6O+><<.S`X:U)8K
M9X^05:A-9Q&LQN5FT1X^3"UCD37XT29WM7:+B!44>Q4I<I8ZOR@R`O%@3[3*
MK")`5`G`9W'76]*O+GC5U_0KN<OEK&IQK]*I^ITG)^1.]JD39NM[?<-5L+_2
M-J5.BP%T@*);YYS::O;:S^U+9Q`:AA9"0>3-\8`'L&8@NDQ,@`J&<?".0^86
MKS\F'[V^O+/'/O.5R:;2DLJ='\#%:#Y,>4FW$]55>O2&NZ999K9>Y-<72S7/
M7%@8.GK?5<&E,,9^,UTZM(KUJ3DA6%-PR<NC`F8OYP!T`^)X!\DNTJ\NI=V[
MW'M*\B?)C<+V1J]/O.F-:V35>OG%KV),V:MOYNHW*5;V.?KZ;>,2>6".&C55
M`84574J47IDCJ`02]I>0E\VT[=&L5UKHSJ/PTX8.NY8)]GR+'->0%Q@7.RGM
M9GZ#%6FS7#54<C*437MAVS9+41_KO[_M*M7KC68>IW=`)5,3(&#[O;$;B7DX
M"(CG3YU:=$ZTCEFJ?P6""Y)-5='CU$S2^S[_`+5W3XPV79*A4[1!V?R9UZK*
MFK04AU,LH:$@7Z"TK1QE["XJ\ZX:R1/=8?.N")D)W%[1'C.7KH:R'I;>#JI;
M?Y?D0^27*\6-?<7OR?\`(O>FM?(618QDX--TK5H[7IW%S8ZN;;0IC4+'*E;V
M&.W%)Q$V%LUHV48H\1KP(U1N8ZAN]0`YXG\]I>76WI]2JQJGFU1[&FMI*Y+<
MK6->XTO3+]NJA,=EI1^\#.I&^^86R(.`;U[4!-CW=PP:Q+*8?%U[6W\HFQ53
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MNP[78F5*)`X`W%BYS:3JEBETY?K[SE\F=%7)NFS,UC>?-+RFF+5M6;I#=]"P
M6F2ZI4<U]G"ZS_86UK66AU.[R9;Y<]A7.M2E7BK0,NY9QOR1%1,)!X^+CFO\
MO8HDUED\:KJ\2S\+<KA7'J,K6WUY'KS-AV:.YX4*+&^;=8\;(O5CJH5<*TG2
M[BC6DWHS=E0-(/INTU]W84P9N2NDT5$VW`]XB`&Z_,V%]22XM^-3G\)<_;CU
M8&CVFR?(C5],@HJD[4L]M@GFS?*:PW%EKF'U$?;T,K6=H3A6$\G5KHY8A8]?
MQR`@:0CV*J<FZ2Y*4"%$3AV_[GTNF?%?46IX*M<UCET%5S^U+NNI&/$G!U[<
M-G6?;WQ^VC!;<TYKFX1EF3M+FSTZ,EWTB6(+7'BRSE-=!>2>53YQZO66;I^T
M7(DB915-(Q!3!0_;W#GEJ+6LDM1#]D7Q=F/O>'66ST<M#IKFEDL96Y+M31\?
MMC4Z?<;UV4R9[?EBR\UY_P"FXZ.BIN)ITFK1RR.LV9&$U!,54FTDHH!#!\LN
M\*Z:]``"E-R.:?SL$J*E$>EHN23_`/77!U;<&_AC7+W5KM*C9N__`"7UQ*M_
M&R%V'9KE-H;B3H:FXVK;5=%O;J,_R\;7U&K`^LT4VUBPL$DY*H@FHY!$ZQ4B
M%2(JH/!N)<ZLMXJOM\3P>7<CN1T5NE5@]WW,ZHT'L_>NR_$S<LE/*Q:VRZ8&
MU:54[*PE*Q/OIP(>O22,%(RHT)\M4VMR05`J2Q61P2`2]P%`QN,YGKHZ[%9Q
M_4]_EG+HZ.4W/]S2<<LT_ABC4M)=^%D7XM^.PV1*`3M+R2UX^:H:[?L3;LE=
MQK3#-M/.$F<>)[X^?GG%%3R`+_JP;!\91#@!YC=5E>;M@Z]AGU7._P"[Y77R
MVU&\^67_`.G<=7PJVW26&66TL==WIL=*PI[1D?(-6;N,_P"4$YI0WBEQ!_<@
M4)C;CUI*,BJ@*S>U1%JCX0B,BM)G5,W!-0O<`"(E'O\`,6.'))[]M=YE7))\
M5*-_#V_B6*@'W;L)OXZN9GS&W$#7R)MN[*W:XROOZ2R6AFU)?SIZVQHLBWJ:
MSZ">P8Q)BN50!P*A`#W3"(B(/S6G648]G:/PES_%VHM*6X]A79WXS5R^^7-D
MTC$/M2;N<VJ^0,C2JXZM\]JV_(U^MJV"6L[-]&DDI&.00(X30`AGPJ"'ZLXE
M`7YFQBFDTW7'V]FV0^27,\3GW:WF#MN=ICJ[)[QOE-MNN=20%G=-6M[UKI+7
M031W\TO%VB2KT]'O+CMN3OT7")N5HMF1$C,KCVQ,0`$,?FK&."=??[NKH'X.
MYT]QT9^V^\;:3RTW(V\AMC4Y_HR<TB_JM"K[J$<T,REWH5&LUA:25:7;/A=,
MY_\`:8P($(Y.DDJ)CD[>,G\S8:HTFJ;<^C,A\EG59U>67LC=U2VKM^R^6T7X
M>SUYM,7)TS:MQW[*SC(>7-H\>5H-D]UO!JR@,S-0C5[P_>1JA1/[YD(TO<'K
ME+FKCXUE+'M-"@[:5MYQP[,"V_O"MC;%H.S;F>C7B8IIHWP]6G_O:.)&N'49
M-*>1U$A(B6:ED$O9.];!)+I)`9-=,"?G)C]-D.86]&N":56Z_H5SY?+6-35<
M,/U-3[$LVQ=)[0V_I`GD/L9KJ^5GO%"R6C;EFM#F6O&JH?:4C<([94A$S1XA
M."KL;/O:ZSY4]LK6,2>@=("`F';T^=6FZM*M-QPN23>,:T]QL2K;HHVL]K:N
MC4/*:V[`TK';-W!2G]SORK9U6H68D=>1UBKU'<[6[D8#894I*'>?=SY-40(X
M,+01[D\/G=IUXDG)C\)/9Q4,6TM;;-MQCXZQ-FVIM,L<XTYY)[4?N8.X3,`^
MGWVO=J$CJZ:XNDA=#),XM`Z(HH)^T`D,4/C(!BYTN=P;JJ5>/N2Q[CE\E:SK
M@Z;-N1IZ4>;.9Z@\/3$VQ>9>L[VBI^R[<MNR]Z6?6T4:UU:(%Q4Z6I?X:)E9
M&E,)$Q7"R:0(@1VHS(4P\@``_.V\\*D_@Y[I=Q<F>TG=NK-2BO(3R1L5=UU&
M:>VU):_O&LKQ:H2.O5RK-O<1L'%2FPQBX-YM*;@Z@D**2*A6R+\3^^H517ID
M+GEN/[<*OI]D60Y9+2R\Y[%39M.G*0YE6G[H:H/*_<Y>IS`:1A@97:+$\?,Q
M+@;-'M#R*!%"D<I22D>NH*O<'<)N1YXSE\YMNYYN%<B[&AHG=,=?]'N]QZKH
MFSKK*:YFJ5I*[W.=V9LZWB>F,;1-R-=NTFG?&\;:K9782?%JV>.18B*C,ZIC
M$+P(YW^<M[:.GM\#+^#E+%)TKT&#PC2-E8"JKWC;;&<TO4?+C7#*G6[7FU]O
M33>@-I>O.F<A'M]Q6QG7W=O@W;TA#"Y]XR$;WF(`%$X@-,]2M9+SEU=A=;TS
MT<?)>&WM.O\`S_D+5"7_`,=W.IG,LM:8S6_DI+5Y_$)*R,@!OV"AR%E&4HD1
MP8LR#1JH5K\"HG5.``01ZE0U4=&_-EDU3]?T%S2RUD?*571U[/XG$=CLM:6K
MVRH/QMW'MV3T[*:-A++O2US[_8EN3J6TG]V@%T2_.(F;3M2FIT$'+"U)QI`4
MA&8%=E(!C#Q;^=@W5T>[/`J_!3RH^XQTENCIC43*L+W-Q7J)0MS6N1C[',['
MW58?&G8\<ZH"9S5R*W=%1\?MFG-(-\FL:/2=I/V1W:AP$ICBF<)7/H5KXD?@
M9[GW'=`1Z>Y/W2E\C+-4+BHQ_P`I[DSC(.2GK%:9Z5_9YV<]?D(&;;-HZTRT
M%)E;I':`X0!THAP"Q1'N`:9ZB.JEY\<G^F!?#3O2Q\AYK]<3DZV(5?7KS8$%
ML&1WA&6NE:(TS_Z&H"IK[*>OT'CW7Z#^3>0!X)HNSL5P=[),B>22G"`+1@W,
MGV@D4<F&K6B;FZ4DJ$3T;UJ5M5K%U_0[B\&=:_>FS/*7:]\A)TNX8O<3^G%F
M9R6GW$4WB5]?4US)Q]0A',BE68R)=6)9<%`11-PKW]4S")2V2YQ&]#RL>'*G
MP*/Q+LR4W6N:RV8G&\EKBA2^U;OJ]Q#V]K89O]Y["V6V(1R]RCES:QD:G8).
M%LT:L4QF\9"N#(K,EGC=1(!%?M.8$QYR@U5,5N\+.Q4^RIMC?),/&+7>]_(R
MJ58+[";GL]%A;4TD:M)ZTC)52B3<?87,*,::3^X'IG"C=LZ`@E+W!QET>;0T
MR\K*4<*]_P"I1/E,M3-W5_-CLZOT/L3X2ISZ7CS3T;%(3THNBYL)(:0M%7GJ
MA//JJI891W75GL/;)"4M`$0CW944E7BQC*I$`P>O(\3UL=8ZQS7ZDVM%Z-M;
M^K]#K4I>XP%#U$>,X+BO12%+NY$![N/3GZ.?Y<`GX`P!@#`(%"B<ABAT$?K^
MT,`IF9P'WB\=4S@41^L1*`],`Q:T!S'A_P#I>$'\4VP'\F`9D3_7_3'_`$<!
M^3`(A]!^P?XL`L,?_CWO_P!`O]<V`5<3_@6GZ)_ZPX!=,`8`P!@#`&`,`8`P
M!@#`*1VD"P%(;XB"'Q)"`BF?M514[C"`")3$*F/;^$?KP#Y46+P4V[9-U,]A
M2=XUM,0\)N^(VW#VV5J\W*;?"!93K.4)K=I*2,JI78.(:-FWMD6:M4C&`?C`
M1[A$#*_,,EVI6S-:;2UZA>F%G:ZVV=17]IAM1RNY:0$1).(Z11A96J0LG'SL
M;9'\L@F>.=AWLS@54JY3I@4HX]7=N6E'@=*U->EM0N<7&JTH:FTYXB>2$5IW
M5#ZL[%J^M=@V+1RFL=T0]YH9KHFJ@XLMMM4)88AFPD8<L5:H]Q=GZ+MFL99B
M'OE,*9C()B6BU?O2N14I8-XJBR++MJS&,J1Q2P=7G[8KL-J1G@(K5+I4INL[
M!5:5BJN_&=*+A74.X<2A(?0L?;(YZG(22DD=HX=6`MJ7(G[2!#LT0*4#F`"=
MOIF`UEN?5%_T3=&>V:BM;Y2UWC<VQKFI;*=IPFU8:F5W8$!48MS0+'1&LK'V
MA?[_`$JFR1C91FZ319OFQC.P*@<Q3`;M\=M`VJ=\+%=+[L0DXV4O:6Q_O])Y
M',XVU)1MNL\I+Q4I(PK1V\81]C`BZ)ET"N#%3*7@!`XF'`,>>>(V_P"Z02;O
M9ODP20OU'5I[_44E5J$:$HU;G*2Y?_=%IN-5>23PUIF[`@_,QDDR*(H)M^XS
M<B7=@LM.VKB=U5M[5[4,@0\.+G/V6L;!V/MT]DV3';EI&SK*M!U]&MU(8"B1
M$K'0=0J]=*YD5XZ(2)*N3BJX77=KF5Y4./:0`G#O-O%R_)1_EWO/=[8%,[\.
M+3"W*5V?KK<:>O\`8TO=[7*OYMU1(>SQ:53O!V+MS`D@Y&4;))3,,_:"Z8O?
M?,F10.`2+WB0?,DN8.;X6^&KI@LJX;!Q:#[=F^7B6"=\!)DTFM.0F\'J]DL=
M;K<-L.TWO5]$V38YF=KI@%C:ZY*3[8Y:9).FAU&YD2_-QY$C`)DA$,[AI//7
M%K*N:RQ:PZHTVB,M`ZUBNC%FW;#X@,)K7>V:$RO$M"H[8GZQ.F?&81ZKVL#6
M&D&@U8,4H\C-@JDL>`25,8"E(4XCV``=,NMZ/369^9;34UE64GW-M%-YZ7AI
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M2\*VCR?)P3=%Y(F4CFC<$6[`G!6_M%*`8P+JZ!Y))UWR>'3C\.\U`/@)'6XE
MD4V_N?9NTGDSK:$U+%&F&U7A#U.MU*[0U[KK^'1A6:C):Q0\O"-7"CM83F>K
MH)J*%$Y>JB#>AR45MVRW>/<94/AG8CPTR:6\C=PSMRE)"O.XVTLFU/JS&!95
M]5PJ2/8TBN0*%9F6<@D[6^:1?@H=VH8#J"8Q0$/+:YA]S[(F3T_*ZJMI4I]T
MWU;53L905GP.K=08LW-*VM?:9L[[]N4W*[-K,916LK/?MZNT<W2*&JK5E:F0
M+%\HR;F*@V9I@@X2]T@^X8QABG,:?N=>J/@7P7+[:4+<$H?YI8/M=49Q2?#^
MFZ\;W,D/9[J]?W_5<1JZ>F;!+LYN4<M8IU:7IK6X6<LW/SDZDK95U3%6`4/=
M#VTB%)R7)IS%_P`S[(^!TY:'9'OEV9[7MW&"O?W?U)D)*VJ%VIN:)JVQG=.<
M;1UJVLL.6I7E"C5Z+K<&V<K(0IIB+148PK;WRM'2'OE#M4`2ABG,/N=>J/@.
M/1)_L5-F,N]5_4RY;PHJ*=S6L+/86SX*C/KRQV*XU+`2L=&T]Y;F0MUU%5I&
M.BOVL;0;IXQ345CF[Q)@J(&*=(Q%#E,2YA]S[(^'Z!RT:C113EOK+X//M1%6
M_!S7U9V!3KU&WC;(L]?3]FL="UTI;4E==566N)UU9MTT@#0J;P>\SU;Y<JZR
MQ&WN#[0)E$0PES'[GV1\"./1_9VN7=1T,VVCXM:_VG=I>]3$O96<]/4:)UHY
M"%D6J"`14';$+LQ,DDX:*A\Z27:]RAA`4S)")1#C@,-<PV2=.J/@1;EHZ4G%
M-];_`$,]@].5:'VG;MOM3OS6V]TVN4J:1=N4_N[[EJ[EXNS402:MTP074=29
MA5*02`)A,(``9U%:[B3DWPUQP6780YZ>/[$E-8IJN>Q4;W[<>HU;>O#73FP-
M>[JU5;F#^<JF][C+7RVD5>"SE&-DDVS!LZEZZ[:$2)'KMB1Z8IB4$S`43%`?
MB-SZ-6<K6ZF*24LE3)>!8+5X-:EMKX7/WYLNNQ,G5*G2;O6*C<G5<K>RH&FM
MB1\&WN4<T9%4?J`R**2H-E6P*IF$AC<>F"ZM:[K\MM6]F"_5':NV)KCO)2NO
M-XKX.E/=[B;8?"+5,_9+I*LK!L>JDNS^LV)9A3+F\K3:K72C,D(V`NE1,P;`
M\A9EA&HIMC(^X9BJ@'8*(@8X&KIS"O[G3JCX!3TG#C%<77+LS[^XV=K+0=6U
M57KC$0LYL":D;Q*O)FVWNW6V1L]PEI5\T0CUW"$R[!0&':V;D]M-JW;MFYB\
MD2*(<YS-<U<6K$^&_P#RMQ@TGLP::?O31-=)7BHDJ9?5VO'N3-:Z9\**)HR9
MKS^C;(WBM#5-Q+K1E%F]C+NJ(=W,J+K/WCV`!BU1E%3.'JRO>L90175.IR)Q
M$V99K^]91<9:R+BULM6%WJW5=PXM*\.!*O3)_J9GM#QDUSMRVJ66ZIV!91_0
MIS6D]$Q<VNSKMMJDL]^\C)3,>F0[C[S@Y7_BV;A,2JH.@!5,_>`"&25_GL'P
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MN4G)YMU,7<>+.E%WD3).*RZ<+0-9H]/C$1F)`I4Z_K:=+9J6Q'L>D%48B:*"
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MSU8D9)ZJ<T<Z%5H`'$H)@7IE_H=,U647Q;<7XCUVJ^[N7@5%D\)O&BTM';"4
MU[\LV<KP2[$(*<G*P]@`K,`6NQ+>KR$!*QLE6FZ$(7VE4V2J)7!!`RP'-\6/
M0:7[>]^(]=JON[EX&0Z]\5=`ZC<P;Z@4&&KJM=F[#8('Y:0EG(1M@L\2R@K-
M+-"/Y-V4LA,Q<:BD[/U%02=QOB$1&ZSI[6GGYEI4G1K-O!YYU(EK=3).+E@^
MA>!3;!\2O'3;5ZC]D7K6U=G;O&@U]N9,]EH]P])'G!9F2<:14HQ96%NR.7N2
M(^2<$3Y-V@'(\X]9RCE^OEQ:J#D_\TE\&A'6:F"48RP70O`L-H\(?%ZWRMFF
M+%K"!=2=XF(ZP6-PA,6&,-*SS*+5AF<R1*-FV:;237BSG156;E2.Y*(^X)QZ
MY=Z#2?:^U^)/KM5]W<O`K6/AAXTQK&IL(75U;AHNCW"2V#5&4&\F8IC$6F;^
M5/,2**4=*(I+M9<6B9G+57W&JXAR=,>1YE<OTK5>%]K\3E\TN0=)R^KJ1(@?
M"KQ<KCJ[2$5J&I^[L6)E8"U@JI*2#=[#39S*3,7'M7LBX:P,?)*&[ETF!&Q%
M#E((AR0O#\?I5_*^U^(7-+ESZ;<E7J1MPVG=9JO9"2_8N)^=E*(RUC(+D37(
M9S0(X'A655.!%@*$4@5^J4"@`&$IN!$0`.'H=+]O>_$A:O4)44L*UR77NWFM
MK-X@>,-PM5:O%KTK2)ZUU%C!QL#-R;)PLY085AH+&N-GR7S16DTE`L_@:`]3
M<>P``)>!*`@]#I7G%_\`-+Q.EK=3%44L.I>!F#W0FG)!O(,W6NJTY:2>PV&W
M)!!5J<Y'.QXUU'OX^Y'`5OAE6CN*;J)F#A,HI%X+QTSI:'1TQACUR\31:U<N
M!<<WQ&"S?AIXJ60LP>Q^/^L)8L]9)*YS*SZN-E#2%FFUU'$M-.5A$#"O*+KG
M,N`"":HF^(HYGU/)^6ZE15ZWQ*,JKZI+'W,NAS75Z2LM)=:E)4>$7AGM3[<S
M,ZMI*G478,M?*TW-'&E*)3M;)5UL@BUA(*HTU:45C&T4W:D*H8"KR(%*!P,*
M)2_"(%#IIAI[=BQ*SIU2+BU2M=G2>5J+TM1)W-0^)YO9T[*$;SQ[T=(7M79T
MCJ^GOMB+.J^^7N+V-(YGU7U4;E:5YX=\L8RAG42V*!$U/SN..1'/'7+]0ED_
M;WFB'/KUK3>DMW*:;[:+;TM5[\-A46[0NEK_``]MK]TUK4K/$7J5:S=Q92\:
MF[)89MB@V:L922.8064D6+1JFDBJ!BJ)I%["B!1$!]*URKBM*5VO&\ZM[^LS
MPYFK<5"$J17S>[IVF54W7U%US7VU6HE4@:A6F8*`WA()@A&Q:0K*"=4_RJ)2
M)&55.;XCFY.8!X$>.F;M+H;>G;:6=-^P[]?/4--2^J)A45X]Z#@K::\0NH=;
M15W%TN^&SL*O#MK`5V\3,FZ=$D$VX.T5WB0B"ARB45`#KSP&:IV%.W*"6$DU
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MS4.:.*@X.0J1N2$*80*`9;:Y?<G=BI)\-0]6U!\$GQ-%W9:RULPC9"+CZ966
M<3,EB_O1DSC6R#24+$-VZ,09X5$I2NC,6C5(J1C<B5-,@`/`!F_\1"M-OO\`
M$S^LU3_F[D:ZUSX^1M$V]M+=KVW3%RMFS&]>A8LTS'0;5G1J56_O!2,I58&*
M:M7#ED5U)*K*+N1575,/)SB.:5#RTK?VX=AFDW*3D\VS;<W4:?8G9W5BKD!-
MNUX_[M4/,1K%^=:*4?M7Q6*A':2H*,1E&2*Q4Q`2`N0#`'?URJ[HHZEJ<MBI
M^IU'6^F3A6E<?T(7E*ILFI+'?UB`?J3K1K'SHNHMDY^^HUH#D&49,%41.$C&
M-BNE03;K`=$I3"`%XRM\IAM_7Q.H\RE-J%N7U4HOU_B6XFM-9_L^TJ"5!HP5
M6.71?1]82K$&$#'NO<<JMG[&&(S^[F;L%G*QDUDTBG[SF$!Y$</E4%@_U._4
MZBM>)\1?&%=KS-Q_P<1$-5$&KIH4K9BS1%HQ?J%</6B1$TB_*LWRZ95%DR@4
MBIR@8P"(<YW^*M17%3!]?B:I:A2@E6K5/9DB3IU-EX=*N2E<KTI74T"`E`/8
MU@[A2IM3`JDH2,52.S`6@FY(<"<I]X\"`&'GF6@T\/IE%]K\3/+4W5/CA+ZM
M_MLZ,BYJ5.F/F;%DO7:X\8,3`YC62T7'.6+%3L]OWV#11%1LU,)>G<D4O.0]
M%8EE''W_``K0J=Z[-<,FVBO"$@RLB1H,&!(TI11)'`@B1@)#\C[(,RE*V,7D
M>0+V\`/4`RO\;;W/O.,44PQ,,X775>1\<H=\DDR<JKMFYCO$FPB=!DN=0@BX
M21$1$J1N2AR/3+/1:;/A[WXEBU%Y*BDZ8]^9"-6J)XD(4\'!*020CQ$*,&*D
M003J"?C[N.D9B`F4,(_F<\Y?;MPM1X+:I&IQ.<KDN*;K(K5HZ.(5`Q&S<3)%
M4(U$2E-[#91-+WD6O//L-5"MT^\A."&[0$0R+EJ%V/#<58UK[4(A.5M\4'1E
ML3A(9-NNV2C8Y-C(F54=M4FK9-F_,Y('S*CINF0J#L[I'@%3'`PJ$``,(@`9
M0]%IZ81[WXEJU%Y.M<2<,'7`:?=YH^("/$"'^[C(,_N_]>J(IJ_(F+\KW++%
MY`W9R8Q>@\AGFK0W]S[COU-S[L=^WMS+H1)JB0&I#)D*B1,OL>X4!33/R1,H
MD[N2D5[!#CT-Q]/&:(6];:@H0=(KH15.:N2<IXR9*,RCUE4Q$J)EA(8Z8E4`
M%3)%`R!P+VG`YD`!;M$`^'D0^GC.;EG678\-QMI/H7P)A<\MUAF>ILH\/<23
M(@!3F6*NDF<`!0X^V*QER$,'N+E*!>3&Y.`<=<XMZ._&<6ZT37Q.I7YR3J\_
M;W`48@O+WW&Q3=G<9Z#DI3^P50INP7/N`(M2F+QVB;L`!$..!$,]HSA1C#B1
M4JR;4R()@"J:RA3($2$!5*!DCF%(B8`03%Z=`Y$/IS//2V+DG.<:R?2_$MC?
MNP24'1(JBI,Q.8Q#$,;M`I@!<3=`X$!,'>/Q`!@ZCUXX^C.[=BU9;=M4;Z6_
MB<RN3FJ2R1-!-`H@(=H"`\@/>/Y39:<$X!`?00'[!`<`]P!@#`&`0*"8"&$O
MYP!TZ<_2'T=<`IF@%`%1#\XQP$_7KSV@'4.>GI@&+V8AE&`$(<"&&5AA`P\<
M!VS+(P_G<AU`.,`S!,P&`_`"':H<H\@(<B!AZASZ@.`1CZ#]@_Q8!88__'O?
M_H%_KFP"KB?\"T_1/_6'`+I@#`&`,`8`P!@#`&`,`8!+.H!..G///0.IO4`Y
M`H<F,'<8`$?HYP#%2W:OF42*63C54W$F,(T7;R;)9%W.$.Z*M"-C@J4JTLW!
MFH)VY>5"@4>0Z#FF.F<K:N)K%/\`B8[FLC;N.WPMT+.PV90;`]DXZ(N%5E7\
M"FNM+LXJT03]Y%I(JG366DFS=^99@@F5+N,=4"$+SP(\@.4ZCEUR[PT:26]/
M:ET>XFWS.,*I0;KU%DBMP:OED)A_#7^E2C.LFYL+AC;(!PUKQ`.*133KLC\6
MT419<.Q,RA@*H;\T1RJ')[MNZI2G'A3W/'J_6M*%DN<0G!K@EQ/I1E$3=ZS:
MX9C8ZW-PT[7WR*JS*<B9=@^B'9$%3I/3MY%%4S19)F*"@F.4X@()FX]!S8])
M)5JZ-=#]V6_+HJ9_7QV1?:C"(O?&GIB#?6F'V=19"LQ;LT?+6-G<*Z>&B7XN
M#-DV$I(?>946+URNF8J22G!E.P>/3._0W4Z55??X$?D(?9+M0:;WTR_I\CL)
MEM*@.Z/%O%8Y[;4+A735U&12.*9V!YDTD6/2>B<H@"2BA#FX'@!`!'.?1W>)
M1JJOKPZR5S"#3?#*BZ4:TH7E_JBXUG9-Q?V*NU>CZ]V9*ZU-=I>RU]"JS:\8
MSAWY)>)L/WE]TO&KA&92*)"*F,50!ZB`EYM_'SK3BBW2NWL*;VN5RVX1C)-[
M<#/K;O[5%.JD=;I/9-!:Q%F8R#FF/7UMA6L3<%6#)>05;P<B9T"+]4&S<>?:
M,<I1$`'KG,-)-OA6>VJR]OG0Q*[=BJUJ8PV\A(MUXNJ^3S6MO5X-#6KS9(5?
M[Q8)/U&#!@M(*M$I,Z@QI3F1;F,FH)NP0XRMW(P;A*N#I54V=9OAI=1**DIJ
MC73N-/T'S-GY0^KW.U]"7K5=>V^I!1]%MHS]:O%<>3%J*Q6K$7.+UQTHYKKJ
M<0?<H&<%]LXIF+SW<!EL;%O45NVGPQCFGGELI@9K\;]B<5.7$FME=YOZ,\CM
M(S-\FM71&SJ5+;$KQQ),4N-L,>XG61BH*N3I&;F4215<-$T3`Y334.9H82E6
M[!,&1Z*XWA@M[R\>XBS?E;N*<JM;BRP'EGXYVA*Y+P&X:))IZ\CW,K=E&MB8
M*)5F+9J&1=/Y-8IQ1^506#VS&0,L'N\D_.`0P]!=3HVO;VVT1M_(0^R7<4L7
MYC>-,C3GVQV.X*8XI$5.,JW+V3[U*V81,S)(@JS;28/TV;IH5UW`5$XIB58Q
M@`O(CD>ANUI59>W17WC\A"E>&7<4$?YN>+-@FZ[`Q&ZZ4YF+1+'@(2/&0637
M=RY7?R:48<PMA082C]8Y`:MG1T%G(*%$A1`0YGT-S^:GMX>U3'J-0[MSBA51
MI3XXF#Z/\WM3[4F9.C24Y!U;9;79&R*"SI2TBN=U)*:]M$C7%#-7[AHA'*2*
MC&-,\.R!;WT4?4.@\=RT$HK]R:Z$]WLBCS;KP;=>M^V!L6L^7?CY<INWUZM;
M,@):3HS&<D;`@W&03*DRK'NJ6!XP</&#5G,L89JD*KA=DJX33*`\CR&<^@E1
M5:57V>SP'F7-[,LUCO766[JP_MFJ+`2[P+-95H9\PCYMBB[=@B59%*,7E(Z.
M!\FX*H42+HB=/@P<"/.5J_!-/X?,VZ;3ZR^Z7JV:_?4Y\U+Y6WF>O$]1-P:H
M)K5Y'Z[DMG),H>XM]A2M?@(]ZFT^X]DLF"95:M;G22Z:S=H'>*P'[2CW`(!U
M*]IW^V,J^Y4ZJ?J>D^47Z_T=3;N03I5*=&]V.[H-A>,GD1*>02FW#26MY[6`
M:ZV#^R,7$VI0R5FF(1>&83D989B)X'[D4DT9#W$VYC"H0@_%USEW[=%PIUVU
MIW4*K_+-592;N1HWLXN^OZ&P=YWF]T&CJRNNM<2&SKBZF86!K==;.PC8Y1_-
MJJ(FDIR4,<"1D%#%3!5TX,`@4H@4@"<0#$=3:A64HR:X7@J5=-F)0M'J)-1\
MQ)MYXG&!_,G<2$/9*2KJRF.?)2'W#7=+PL!'7IZIJN:F9R`5L[J:?79:*<O&
ML96X1JNM(L0;B_:J$2*?@5B<^7^>A6GHM1PY4K;[FJ4]]3U/P%RG$M;9X:5K
M2Y7JX<Z[E2I.-YC[SFAC-2UG6FND/)-38=MU_/P]CN4J&N(PE5A(^T&L+*18
MQI)B2B;!`R[46A03362.L'N`'&76^;:.=)2L7H?X6X536VO3F4SY-JH-\&HM
MSC2M4I?#X[3'[SYX[`BJ?K25KU9U'6I2=B-D/+TMM_8+R`JL?9-5R'W5/T&E
M2K)NHI-6F35#WV"(\"9$0`_7.US;1N3;MW.BCBNW>^[H,]WEFKLQ3=V#KA_-
MUG=M*W'#3^D:]N^W-7="AI*ELKG-L9M)4[J!:K102K@JZ;8JRJQ$V@"H02E$
MQTQ`>.1XR(Z^U=FK4(22DZ*M-N52CTVHM_U)33C'%K'&F)HAM^\'\;7-=N-D
M-+7:,:T>KDNLVRL&NKE6Y-:J#(MXPT["-)J'9FL+`CMT0.YB+@1Y`>``0$?2
M_'7*XSC3WC\E#[)=QF'_`*Q]%*UZU6`)JQIEJCRM1<C`.*7;65Q<R-W`!I[*
M)JSN(;3$DXL:1N]L"28\AZ\>N71TLX*,:Q?3L]MABNZB=RXYQJH/9M+/XP>1
MS[R#LV\$48U6*@-9;+C*-7@E(F8@K*9N2H-).:;6&*F6R#EL^;S)U$Q,4QB*
M%`!#H'5JXV;"5%7B3[<,?`[TT=1J&TI4X:9URQPP,*U3YIUJSV^;I-\:2L)9
M&VWM@:PC)Y"LV5M07+ZG2$J$9`DMBS48E:UR4-$*O3MBB)3)<$[^_IF:5ZW<
MCY.FBXS:HJT>+VO;\R^>FU$(.Y*:=%7"J-BUCS)T_:K$E!-@ND+'OVUH<U^Z
MVRE3=:HEM+3&Y7ED"K6&00*65+%,1,X5/[2:8-TU%"B8I#"%;T/,DL+MMO=1
MF+SI[Y5,&H/EZQVOY`TK7U'KUD9TZ;UC=[Z]E;C2)2KJSZ<&\@T:U+4F1DA3
M+-1,NVF/<$Y"!VIE`3`'>`91*W"$G"ZE*XGBUDWM:-L-->N14U/Z91K2CKT?
M,V;M'RTUEJ6Z2-!GHC8L[88.F,MB6$M*HTO:(RN49_,2$*G9IN58E^28QR+B
M+7.KR85")IF'M'@<NL:6-Y-VW&"3V[:_P*KNHO<MHI6[E]S^S^6F^N^N'46>
MT>:6FJM+R42^+=7K&%9UE[9;C!4Z?EZ+4F-U;-758>V6TM616\4A(,I!NL<W
M8?Y5-8#*]I2F,%STCLQ\YRBU'9M?Z$Z?FUR]J(V):6]",G3B=.%85QV_,K/'
M_P`A)G<.Q/(BD2M-L581T]L)*M0$E)PCB.B)JOK1,:\:O$91951-V_=F=BX`
M@$*(MSD.'('`<J=ZTDN&+K3ZF]KZ.@]G#:6T_FKJ@;E,55E!;+EHF`M3FAR^
MR(RDR+O6S2\,TW"SBJGL:0G/]YI$;]IQ]@$4U3E(8X"/(7+0RN+CXHJJJEC6
MC//GKX0FX\$L&ULV$^>\R]70%*UQ?%XNUK0VT]=W'9552!FP;O5(:EU52X/F
M;U!R^3^7DW\4D;Y4@"8%%.`Y`1XQ'02;:XXX.FTT6+ZOQ<E%QH]IB$1YX4Z:
M?TF,9:?WRT?7R"?W.("1I3)J#'7T8M'I/+Y-E&:,M&P)"2`'^(GN=I!Z<B&7
MV>6Q=U*[=MQMXXNM*T=%T5=!J;\M-9=Z,)76J?3'-U:6%=V;ZBCKO[PK4-C4
M?K?LYLR,@SU.T7*F6B:K\>PAMC0U-8J2,_\`LD?[X76^9;M4Q.DF\*U,N00,
M4.TP".[\58I'AU.G3;Q57ATUICV(\C\Y=Q_\+4/_`)37&P_WATF.E+[>=;:3
MW"SM\+2:KL"HP=VJL2P=6&GV258LB6=C&?M`HHXCVHN/;.7N[Q,<#%#C/G)J
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M.#)L!2"V545`Y^>!S/=LJQ/RW.+=*GGZCDFMU]WU-B]"W;HDDU*M5MP-N_\`
M_2W7-/F/N>3@9^PU:L-Z5`7C:J\_0(]:&M=E:Q1ET).CKST?;9%"-<R[4KUQ
M&L%TD`5%3M%,HF";<+-SZ9W+<-M77'H]Y?H>1:O2W?,O7833C3!2K6M:NN!L
MK6?GA#[;WC*:HKFM9E:$C;;<Z(K<T[)3U7["QT<I?FU;)KYI.J7VM5N=.!ON
MZ2=,@04+V]X%[PSJ6GT\;?&M1:<J5X56O57)OXGJ/1346^)8+I,_\F?*24T$
ME`H5W6ZUV?3;2>E7$W+W>EZWH<%&U8S16492URO,M$Q1;(]27`&C`IA.KP8>
M[@H\^,M;%NBB^U'&DTSU=.&2C5K8WGU&A3_O&GUEJ-)N6I/'K86PXNY:6EM_
M.U#6"LP;2MT>!GG4).MUY%Z^.A(SJ1F"Z[)NU!8C]N!#)&[5"YKM7?,MJ:R9
MSK>1ZNWJ915V%,/NW+<6'>?FY>G=.V`XT5JR]34'6]456Y3NY(][#"XH$IL1
MBQEJZC&5::63_:LS6$<E</P:\@T14[A#X1SMNIE6@O:-\5V<9J6&%:]YU7Y&
M^2A/&K1K'9SZMN;R[<OZ?"D9C)1=?9@XLQ$$E[).3BOS#"O5IHJ8[AZ]6`4F
MP'*'`]Q0&.)0^N7[5B_<3.#NP=J+2E)-)O+'#$XEL?F_NZ8G/%V9@]6QU9I]
MVV%?HG9BJ.RM=6^N3%>IM9"=55JUGCCJMI,KN-.=XD9,4E0(W,F8H&$O/2YQ
MHE&2\J>.6*P[\>X\M?VSS#B7_D6\,U26/<;$:^?=DBF5<NNS/'ZT4G36S(.9
ME]1;`C;##VJ0LHQ4"ZM,0UF*U'M$G%7=WZNLE'$3WJ*`)>PJG!S@`6+G.ABD
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M-@UN^4B<V!&0=#IKG5D@QCK)++W@8A89:'E7LNR0B5$&P@JNN8#\`0>;OS>A
M<\+=Y*N'U1JO>W3?5TQPR/"_];Y@E5W[37^66/N23[S4\]YR7-GM2BVI*!N+
M%2=U/?ZJ[\='L@@#-UOBN[<A]9,(M.90:'%4A)&5+WN2I>U\HF8X%YXRB7.-
M&TXJU.O%G]-:=/3GB>]I^7W;5B-N<HN48I55:/I12H>96]-;[7\D)?<=)9PK
MJHT?QY@ZCK`FP&,UJ].\["F;`P>2T+>6]:2?QL&JO'A\T51LH<AFANG/;D2Y
MMHU%6U;N*CQ=8U?O_7$KO\LOWN&5JY&*IMKT&5PG[Q>YVN!6AJMK;6]EW"SW
M31=2+0<1L1Z^U3)GOD%.V6-G82^!5&SURE%LX%0KM+Y4RI%C%*)>H\(\VT*>
M-N[2F:<:]^'<5VN4:J%U3E=@XIY8_K\69AN7:^ZO$*'G+M:I:N65SO#:;?[C
M4O\`9IMKI_QUA65*C".F,E9H2DN99M%24I&K$;+&2!`BBQ/<,'!\VW>?<NDX
M)V+JA%8I.-9?YG6E,V\*U>:R>RWII3;X9+L]F=;T3?#JP>-CK>]A85^%^ZZ9
M9+=()5BUQ]WJ[IK6&$@[.YC[5$IE1D6#W[N[A433(J4B@%$A5.0+BE.-R3N0
M5(2=4MR>*1EDG&33S3.,J;O3=S:MZ@H-!A8;9VX]T:LF_*:WCLB]2<%7*Q7;
M9-UX6=.J$I%1;Q91TB[FTFD,@<`30*B*BQR@<,NL<PTNA=-1"<Y-IKAX<E5-
M/BKG788=5RO4\P<9V;D(0BFGQ*6+>*?T[J;3F[6G[P;8E$U%HBH-FE3E[V34
MBFR-B3&WK';BKN8][?K;#15"KKJLUV74D;8F2$71!Z[*FS(DW#N-W&#+;O/N
M67IRE.S>4).J2<%1TIGC7?NZR-#_`&_KM+?A=N7K<HQ3KA*KJL.QE\O6U=@[
M(V/?MU2\M-0FH(+Q[TE>=<52$V9>:;(0@[#L#%&?C;54F59*+V9?/(TS9T9R
M)5FI$$BI%#O5$;;/]Q\OLVU#R+DI5=6^&LJU>_"C?9UGM^BN-U<D=;PV_=_W
M^%L%_B=:T8VAY1YL:N5FRLMB2#7:2L7565F8)W$R"\)'L$FLU)0*Q$6Q%1D6
MH`!NPQN`&J//.6QI+R+U52J3APNG^'&BZGUGF2Y3JW-Q\Z%779+VVG/.MISR
M"V]*;6K[JSI1="CO%/1^T*2>+NDR^V/6K:Y83%J@S/)!XS2:R)YY]"KMY7Y@
M2BHV]DO`@7KQJM?8YC<5_3VW;@E2CIBZMUPZSJ&ENZ1>7=DIS;K55ZJ8]1WD
MPW^\F?%-CY$UR,AI"5D-7L[4UBY^31KD']Y")DC%E9=S^HBV+5X4YEU.#=P!
MPF4PB4,HC?M:>2NWU-VEFHM)NO2\C19@[EQ032;.$H']X/N=W`[:-$U+5VT)
MRD0^NYZ.L^JH[:9J@WBKE:%*O97$W`3<(SLL\XIKE,#F")354=$ZI!P(9IES
MKE;:7E:AVU_BB^I)M52WK;WFI:2>V44SMWQ9\@'N\=>6VT6";UA.253M,G#.
MI+6#FPG@TF$<S3DBIRD%:V4=:*_8FJ1S$>-W"`=HB'MG.'/&0P'-T#Y.^3-O
MK%5VTV@M1QFGMT7*Q437S&.?3A]BU$KEG8XBF6>6=-7*4/,'?V6OJ"Y9HD]U
ML10@B(<&X`J?W>E.L,7X8RUKO3[WK3M:-N=VL$^UL]ODQ=NWC1^T/(NCV>2=
MF@'ZZB9C'3CO;;)#P"8A@')=!H!M7^&^C?*FF[%V/$[K2E*0LL@[V%?[)![3
M"R;"DZXYUY)52U34W7Y8\LS#M9"DBDJW%$#\@0,52Q>06=#>$-Y[;J';#43Z
MZ0DM3/-AV*B.(:(UELD\S464,Y=-WMGE]E\'HDHXCI1F!GC%)!($RNR>V<.P
M0%^5T+C1VKM>N/MT?,W>AE]T>\F.O,KR4JVC3>4UH@=-6+6EPUW/W&ATF`^\
MV&Q86R-YQFRJ3)Z5>6?MK8W=L7X.)8639,\><W`C\1!SK\IH>%+RKJCUQQ]N
MXRW+?E3<,VC"V?F_Y2,*]-QQZW5Y6R*'U6>$N=MU'LG4T`E(7O:4?KRQPKZN
MVQ1%Q80B!F"+LWS`Z9ET$#>X/(Y?:YAH;\VE;N)I5S71N^&70<&<R_D[Y;4:
M7VZYNTCI61K/CIN[4^OKJ2"KMA:R^RJYM@]4<(&A0D)]ZE3WE4:6YN4I>7!7
MZS(QU`*"HD"V5_2.+2A/BHZ8K/?[>Z@,*\?]K[;T]7+#<36.H3FJK'YT;OU4
MZIBK.>5MS4UKM\JK%/(^T'FGZ+=Y#O8HJ#:.3CR(%9.#]2F(&82"OU7YV>0U
MG"I2%@I`O*[L+6MZN4:"&IK/2('6\C7*8_M<(C#;$L<_(1FVX84T`8O5F22"
M_8?O(!1[L`^DWB\\VG8M/U&V;:M%6M%EN]?KET1=52L+U5@P86.N1+\D6X:+
M24D+YXU54$#.>2"H'T`````=$?*G_G%_T_R8!/12%+NY$![N/3GZ.?Y<`GX`
MP!@#`&`6]C^>[_\`K!_4#`,;LW^`#_\`2T+_`/QIC@&8D]#?IF_CP"(WH/X>
M`_&/`?Z1P"Q,>DE($_F)%*(_7\0FY_$.`543_@6GZ)_ZPX!=,`8`P!@#`&`,
M`8`P!@#`)"I4S&3[N`.(&`GQ"4X\"100*("!A^),!$`]>.O3`/C#,ZMN=B\N
M-@Z=K(((Z[J%?O?E+2Y9N^<.4ZYMW<-54U;'5P4TQ=!'*QEA)(SC<A^12%\=
M1-,"%)V^;>YC=M7I6HNBC[?J;(:;2SM1G<DN)[*K#V2]YH?6WCYMNOP#=)+2
MNSGM]JGC-?:S;&5DUCK>F4>\V,L`C$_LC-W2K'9V_;LA<)]L$HQ7*+06)DA*
M*W8Z.3.8\SU<V^#B;6=$RQZ'1+.4:5PQ7LC!9'QOW)-A=XZ/T?L:;A[1H^C4
MF;;CI.CZ5J;JQU[:5/EEJF2I13IZ_LC5K4SO>R5>.3%4.0X&7ZB`3^0UWVS[
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MG3J8]%HJ?OA5]*-7O_'7=ZS.)V`31EYI%-9>16X;<XU)1(K5LS:4:?L*+K+*
MLW5&H64K^F.G#%VP45>1QTS.$O>4!,>Q,I0>OU^V$^QCT6BR4X5ZT9A4=`[7
MH,5#3<YXXW/<D+.TK<529T&T/=;NYB@V&TO_`)VM6]S%-30M=KT=;&PBU<EB
M^YS%D*`]I0YY>OUV?#/L?N'H=%DIP7O7O.S:YJ?8C+]WF?2CFL.XW8Y=`3%.
M_9,)-C(*EG5H.08-8="62`C%98SHY$S*#^K,01-Z#GH1;E%2E^YI-F"22DU'
M]J>'4:/AJYY%[+K?C'J62T%9=3535]@UK/[/V'=K/4Y%Z;_*N*>'CV-4AJX[
M=NY,TE..DO;6-V%323Z%`0$PY[]_469*-F,G%K%I-T[#18T]F]!RG3C3P6&.
M%=IH*F>(6_#3#6A3M,V(P=4R5VA(0^UG6QJ(UU@[;WF*L3-C(PJ=>JQ-N2<R
MZ6D44Y-M(N024*'<8RG84V9I<QUL(\4XR45M::1H]!H]DEU85+Y8O'7?FU])
ML]0,?%^D:>?ZQIM5ABVU_.5UO+["GZ!96DRUKU`=0,?)HQM2O)&J[UVZEOS7
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M4`>.\2F`N9:S=+L9T]#HU_,NXP+6WAQOILVB*Q<-<6PK[4.N-O5F$V'8MV#8
M*Q8I*W4FRUAI_E/KZ%CV:-?8SJSY-5XVF3IMRG$!(!AX''Y'6;I+W,CT6C6/
M$GBL,*[#ZV:@IMGIFAM;4A;V&=OKNIJC`O2E126C6-LB*?%QBJIB*@!EVS6;
M0%0Q@$5#ASZ\=/5<XU5''M6XQZG5OG/$W;E8XJXN+5*X[5[4WG(ND=([N>>0
M#;:NT=6T'5DU`5>;@-CWZD3A)1UY,SKULDS@I%]#-F;8(BM5ADV3<E*_$[T[
MW]6!A2`0R&U7%KM+N7:6'+-&M*KJNMR<J[N)[=J>SOZ39D/7=J:*7\OMJH4Y
ME<7MYV/$76BU6"DGCF6L41&U*N5-5NJDDR6.C(D28F633`H\BF(<>O,5B\$T
M6ZN496H<.:Z/;L^1M'R,-O)WJ:6;^/#"%>[2DE642T4LTZ2":14$]5(O8))M
M*'AY)HI.13$P`S!9NJE\R81`INP<ARX5Q9TQ[#!3BPWG%L5H#?<7KJG/:9J6
MD4K:NF-Q_P":E7:V/<,M=B[?>6IFYC-K/;O>C0*+Z$G;+'O#%2=$16`#)D(5
M,B8!VX/STVY/TTZM?8\.K`U/DEN*3\]T77MWK/KIDL\2I9^.WDO5[&'DE$Q.
MNK%O:3V%<[+8-4FLKR$I_P"SUQK4!4"QK*Z$C"+/9F#AZRP<*N%$4TG2AW!"
ME`>,RW+ES5S]1P.-:?31K)4_3P-EFW#36E84I22K]5'M;?\`#`P21\+=[5R/
MJD\SKVG]]3DLUV.2[ZPOSM2)UO1[CM.7&8D-@TYZ[@Y!RJI"D2(U4(#8%E`#
MN1,GSSG,;5RO[6_<RK62K"*HUCM.SX[2.S*_X=)Z3KMX;1NTVFNWU<@[B\:N
M'S&,L3LBKAL=J54KUP2,C16.T:JK$,JF@!#<%,``$J-RW_4X76..3V8F&,8R
MDHRP3=&?/ASX)>3-V_S,E+22F5AU==-SFL$TGFV]D;=MB\D[N=7LZ-BE9ZYM
M31<<Q7;PZQ&\7&I%;-?=$IN1`.+/R]];38M'H&Z<2[CJ_9GC%MN<O5NV=1Y*
MB-IJ,:Z/E-<QLRK-!&KV'5+>1;S,;:>R.%RV8ST?(BV:.6I5SLS&]WM$Y0XM
M7,-9*/%!-P>Y,Y6ET5>%R^KW?'+O-F^*.J]O4:7WO>=Q-J;$V3;^RHZ]L:_2
M924FV$.S9U:'@2,'\E)L&/S$@#>.4*95,H`H"O)^50[LTZ?4:B^WYR:22I5/
M:57[-BU3R76M:^[V9A2?BOL3]GH&(&T0+)U#>6=IWTE(BBZ?.&]>GW]D=$8-
M$"H$1^_6I)`@%]PXMA+\`]!X&ZY*4(.</WI8=93",9249?M;Q.5H?]WCNRQ7
M2OOMK3M)D(6&<;4B)^T-+SM6>NE\BMA4J;I[:6C:]-N%Z'KQ*+93:AODV;<J
M8]IDP`I5!`^%Z_7I?MEV,V+2Z!X\2RZ.SK.KM*Z(\DXS:VJ[EN&P:A2J.GM.
MSFHZ_":\9V12=FC.I"(:L[0_F)8K=K')O(6`;"M&I("1)0.BINO.ZW*4X*<_
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M14BE[:44UC&B4$FHU]@HB4%.PQN"%`-IXQIB'\;=[UB\7*,@]M5QGH:X;'N&
MQI&#3K+@FU7BUR1YFZ2ZLQSFB"5R1D>XWS@)!((H&["*D#IF">LUBDXJ,G%.
MBP>QX&N%C2-5;^NE7E[_`&S-.M/"GR`5@Z73K)LW6DC0=4:\W'KC7\=!4.;:
M2Y6UVJ<A!5JRV!ZZ?G2^^(=!1-NJDR0^64]L%2![AS#G+UVM6/#)OJEX%-VU
M9MM*UDU79^AU)%>-DBSOU$M\I/(/H^K^-KW0LRS!LY-(S*LB]@W+R<9.%142
M2:&0C%2D0<@<?=4`3<@&<3NZS61].U**EM::RQS?8+,XV;BN254MF=?EOVG)
M6M?W<$[1DY.#)+Z<:PS+75OH,%;:WJ1>+V9,I6")7CF;RVVM:=<&46AVZY4Q
M!FDD5S[0`8.WX<R/D^MI3SN\]M<YT*;?DO'_``Y=QNFZ>%T_<JW'PB=_+&+,
MO&5GHA-4T(+EJ:<CK+%6>(L[Q$WLN3-F9XDI3)IJD'XQ*`<Y[T4XQ47FDCP9
M-2DY+)MF\-K:4LN[/'USJ"Z6:+86F8:4Y2Q6F(A'"<$\?5V9BIIP+"+=._GT
MTGJ<<4@E,?N*81`!Z<!)R<K7KP"L=N/'N6^S:E(?=VP=DW1""V%K%"]U!`VR
M)!N_D7Z%9D)5!JG<8=PF=%O(<]AVYP$2&$.F#F4[UO2\5B+E<XE@DWAMP1HT
MTXV[O%+*C+17?`7;VN:W08O6'D-&5J8I>MKIJ9:97U&PEFLY7+Q=75P6E%HM
MO*-?D)NM).U&T8"2H-T0,(J%/R&?/O5<SK3RKE/\LO`]):BV\:X]:\3.&/[O
MR(@YF-=UJ_ST;'1A_'7VVCR);S3Q5IHF2D7)R.)*0(`"ZL[J0556,DFF).G'
MP]N>\M?K?MGV2/&HBE-X)V56M0=<9[@5BF/^1%UT/:2KTEHZ>R=7N-H?6UFL
MQ7%^W!JZ@%I$4B\E$3\#W&'TSR]7K.82NUA;N-47\LO`WZ:]"W:X72M:YHQ]
M7]W%',YE^G7-A0<94+&\K$U=6,OIJA6NSRTI7(BOQ#Q>OVJ:9NE*NRM2<$07
MC0[:0+W%*).W@>[#=M\RY@O(I<MI/BJTUEAMZS3ZB%,6J[JF3L?`@'._JYNJ
MR;/=62.HUX>;`K2#[7==:;)4</&BC0U.L6UXPS63M.O(X%1^6C5F91(!2%Y$
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M&UM6L==QNP+'1GT`O`N(Z<BF\=+`\_9H$U(N-L]?G`7AK3`/CHIB^8.0%NZ)
M\!_0HEIG?LRBXQG!R:>%5N,T;=R,E.49*%<Z,Y8K/[O&#K#.D*Q.T)A*8@=M
MS>W+.\9T6H056M"MHJRM1FZ]%T)@W+7Z7%'@5O:#Y(@.!5*)C&$1[L\SR)[%
M+L/16ICFZ=I7,?W?E=68U:IW_;NT-EZKUK$3\?K76M@4AV,55`L,,ZKXF?34
M&P2L-D4@(IV8D.9<Z@QX`4.H%ZO)N;5+L9#OP3JN&K>_87);P8&QME4=D;XV
MWL51M78RBU4T^VA8U"OUZ+L\?-JIO&L,BFWL,A**0Z::[YV4WN-2)D`I0$X&
M.S/8I/W!:B*K^U+//W[L_F;'B/$BN05RB)J,LMC;5JM[0#;%6I*18L\=7K,^
MB'U>FFD8Y.T4<I5V<3D5)!9M[@@BX^!$$R<%QY,]JEV#U$6L*=O1XF*O_!^.
M;RA+71]J[#HFPCWS8EV;7:,9P,@[0BMDR3%_9*!(QLI'*-GE2/\`=[?VR]Y7
M"2J0*)CR`\/(N;I9;AZB.*?#5-;<^KWY?H69;]WWJAPG`*+V.\'DH&F6*KH3
MSN2;N[>-DM-X;7V9V$,ZHU(LG:"3S-)9)0A4T_@`O9V]P#*T]UX\,Z?Y66*Y
M-Y)-;]E-GO\`@B)AX"5E0=E2%JW)N:[W?9K;7Q7^PY28@VUEK[_6*K]Q47U:
M4:PYH=BHP7>]PM!;%:.0*;W2F,83#'D7?YHR[&<RO<"Q22]NA>^E>HS.M>&]
M?CB0KZY;2V9?[-$[1J^U#3TK(146F%IJ$#)P,,T:5>'CVT)%P:<7-KBX;I)B
MX64,!SJFXYQY-S=*G4SCU,=G#Q4W]U?@;6WKHB)W0VKJBETO=`FJF_<RD?/Z
M]DFC*2<)O&AX][%RT?*1\I`6.'>('[E&CYLX3[B@8I0,`#DRLW,^&78SBU?4
M5PU6>%7A[>XEZV\=Z5JO3BFF(8DC,5N02LOW^]ED6(RLX>XO7KVSRJR,<S:1
M*#Q\M)KBD@DW(B"B@&,D(%$!]:VXJW%-JJ2^!Y\W6;>]LYKI?AQ-V'7FKH.\
M6V_:HV5HV`MFD8F^:DL$>P>WW3B[IL2+3=.7<7)$9,IB+C62_MF*1XQ>MC]A
MR>X/=DU493FG"KPV8FG3W%"+4DJ5KB9!'?N^Z%5J]0(.A;/W?2I"BZ]6U8[L
ML!;&![!>-?*2KN:1A+BM-0TA'2#EB^>+"U=IHI.DSJ"85!`1#,GDSV*78:5J
M4\9<-/@_;JW&P97P]U=+(V%D_?70C6U4/6NNY!HI.F?+_L[JN<6L$0J>9D63
MN4=RTDZ<B60<N%U57(!\!@'KD>1<?\LJ]3)>I2W-4[^JN7LRTI^$VMR3QI,U
MFVN_K/[5V&^1FJWES77UA'7&TI2`24^UAEHO[P3.DO)JND&:[E2/;N!Y20+S
MQCR;F5)4ZF3ZB.?TI[<57LV]N&99[)XIOJ;!S,OI23L"ESD-.P6B2P%@L232
MD3E<C/FHAA9K"V:Q:3HD_`P,V]<)'1.F!UBII"`@!0ST=)!PMM--?5X&'43\
MR:ET>R^>TW-*>/-*GM%(>/4NS>?Y?-:;!U1(T4H9A*D7@%6[IG)L%134%HY;
MO6I5DSB!@,?\X!`1#.M5%RLM13;JLB-//@NJ6%.DY_0_=\ZO.ZL\K9=C;\M]
MGN$=7F$I;K+L^34M$4M498\]3GU6=1,7%-(!Q!2ZQU?;;))M5N0*N14@=N>6
MK-S;&78_`]!ZA8\+7:O?M[/@=`:7\?ZIHR)L#2NOK!9;);GA9:X7J_S#BSVF
MS23=`$6QY::52:D4C6C4@E(U32(BF`CV$#KGN'D&IJ?X):)IMV5N<&-Y2CTI
MN8LE5H3RXOI?6M/M%G;2"<Q9:Q57C<AH]VO]YKF[555D$E%.],A3`40`Z"H.
MI:AJ_5\3J6J(R8U"+B7$"S2=OE)*1^[G8J&6.N^432,0XG5,/(D'@3=,`Y[I
M/@'H"A2U7FVJ&R;&WI#X9&EU:V;0N]LIM7?E5651>1=6D9(D05RT5<',B99-
M4S<3#[8ER'D^HE9F0-?##1+78B6R@BK:"S>SO[P2F.;E8%]8I7*32,@]LB&N
M5'*T$A)N4E#%.*:()F[S=Q!$PCGC*S/;&78_`]*5^J:4HU>&&?;6AC$5^[Y\
M8(=W9G(5*Q3$59H.QUA&KS-QLTS4ZA7[@=-6SQU(K3I\+"KI3:B95%56P%<%
M,4H$.4"%*5Y-Q8<,NQ^!BO3X[CD^C+J*^O\`@5X^UUI+H"GL*QO)>1I\@>=N
M^Q+;=I^,:46QL;-5Z[".YUW(?<]983;%)?Y1$"D.<@"?NXS7I(2C-MII4V]9
M4S9,]XOZ5M'^:!9ZKKK.=RW"G7F_\S,FF,K8=?$@D*NX151,FG&H,$JVU`2H
M@E[OMB(]PCR.YM)5>2(,/JW@_P",M-V,XVA#4=Z>T+6V<V#\M(V^SRU62O=E
M7^8FK>RJ\G,JU]I8':IC<+E;`9(AS%3[2G,`U>IT_P#N0_YEXG?E7/MEV,CJ
M7A#XS4B=>S=8HBK%P[C;1!,8Q6PV5U5X&*NZ:J-E8U6K&DE*_649,C@Y#&9(
MH'3`P@F8@#EL91FN*+3B]J.6FG1X,ZDJM;BZA!0]6A&A6,)7(>,@X5FF==5)
ME$1+1)A',4U7*BRZI6C1N0@&4.=00+R8PB(CDD&28`P!@#`&`,`EJF$J9C%'
M@0#H/\(?7@%,U%,@*"(E*8Y^XW)N.1X`.>HX!B]H'_[UJF#U*_BSE'ZC%E69
MBC]0\"&`9BGZ?:!3?PF#D1_A'`(C>G_O%'\1@$?Q!@%C9=963'Z!(40'Z!#H
M'(#](<A@%5$_X%I^B?\`K#@%TP!@#`&`,`8`P!@#`&`,`IG!C%!,2F,7A0#&
M`O;P<I?SB&[@$0`W/T<#@&EZW5]-T6^W!Q6&-+KFQMD/VD[;"-I)@G:K0JT8
MF0:NI%LY>*2BK=NT3$R94DBH%*4?IY'*9<L5ZMZCI+')]6ZA)M-1]')/48Q2
M49EDG#<[QM'F73!VLU3422.Z(W[Q6^6(JN0HJ=O:`F`.>N+.D6FJTG26'8*$
M\1'KR8H<<@)CF$I"\?G=QN!X*`\]>,N(,,MFQ:#1!BRW2[5.I'GES-8(+/8H
MFOEF7!`*<48]66=-47"G8/<!0-W#T``'D,`HK/M77E+>P,?;;K5ZT]M/>2LM
MYZP1L2O.*IJ)$42C4WRZ(N?9*X3$YBB)0,?L`1'`)3[:^OHRRQ%,D;C5F-PG
M6:SV%JKVQQ+&QS*:2BJ/_P!Y(5ZY;24F4SA(2]Q4R%$#%,'(&#`)YMI:Z2NC
M;7*U\IB&P7;95VWI2MHB4[0LW3`JGS"$,=P5\X0%!0IC&(4PE[@#@0ZX!GWT
M`///4Q3!])3E$2G(;\)1_'@%FEK'7(%9BVFY^(B'$BD]79-Y)^@S7=(1B`N9
M)9NDN8IETV*`=Z@EZ%+U'\($BN62OW"#BK+7)5I-0<TU2>1<K%K$>L7K58R@
M).&[A(W:=$W8/Q=`YSI-K(/71TOTRVXE[$I4R"I\7<!@+VB4Q.>1XZ&4!,!_
MB'Z\BY9>I@[3R?Z8E.IYM&-EO++HVD@SLI3=HD,'!>>ITNGX!`%1.`_8`YG7
M)4U55H>6^=1B\7B593!QP;N34X*/MG#@3`8.>2&`1*H`?3QU^O+Z<.&X]E/B
M2EO1J?:F[]9:61KJ^R+.VKP6R90K]:;"@\?R4W,N!^!C&QD<W=/'2A0ZF$I>
M"@/7-^DY?/6Q<H1JXO-Y=IYVLYE#1W5;DZ55?CX&R22395!!RB<5$G(%,@/)
M$Q43,`"*A2K*)B`$`>H#P8/JR/QZ4G!QQ6>>'8C/^:A3BXL/;I,?M5ZK%)BE
M9VT3<7!PJ"[%HXDY*1;-&J+V5?LXR)9F.J<`%:1>O"II@`_G?7SG5OEKNRX8
M0;D^A[,W[@^=6UG)4,G2DFI`%852"E\0>YW!V?"/"ANO`B0AN`Y#UYY#IG#Y
M>Z\*A2>[X>]C\U;>,I*A/&4*8`$B0'(/?\0*I_&`)]Q#(@43>Z"A_A]0$!SA
MZ&CH\^IX=>[>3^8M[*>V[?N/$CD/VBH3NY+W"0>XIB'#CT!0A3"`<CUX#.+M
MB%I5BMM/:AJTNN]3<=O:E7X;^L@5712'M*7@![`["?%V"J(E2]WH`$%90HE*
M`=W(AE*56ETF^M,=Q8IV?8UZ(E)U^FZ/'P\>[DWI6B"CN0!NR:K.UB)1R)3N
M%'(I(B!4PZF,(!GH0T*N24(I<;['U/)^XE\UMK/X,B@YZ.L,1$3;`QRLIF*:
MS+5)V0[:0(R?-47C3YB/4*#A)<R"OZPG`BD<IBCR(9S/0NW)QG#%.G17;CDO
M?G4+FEMY%V]]`IC)`NV,Z*'<=N"QN4TP+[G>L8J1S(@*7Q!W%`!^O,]VSY<5
M.,6H/)M8/?3J#U<=3],<UB5!3<E`Q@%,!Z_%P/!?H/\`")N2F+U#Z1`<SN'F
M)V_N5.T@@]]N!%5#NFW8B4!.H14ATB]Q_;*!U/A*F;O$.0'TYS+^(54J.K=,
M5[Q0UULW;%1U'5W-PN2SUO",I*OQ3M1FT4=NT75EG6]=B@*S3_6JD-(N0]P2
M]$T@[^H<!FF%OR8JTLHKY_J#,1GXGY,DB5^T&..D=8)$[@J,?[)!)WK_`#SD
MJ+(&Y`4#N,90H]W)0`PAG0,4?[6H\;=ZOKIU,D+;+I#S5@K,:5%PJ$G#5XR)
M)EZ9=%%5%J1HHN4H`<WZP3!V^N`9&%JKYR**)RT>9-LX!M("+M$#QRIE"H@@
M]3*8XM7?OJ$+[:OM\@;D!'@0P##[MN37FNZXQMMLLD6QKDA98&G-I9N^1?LC
MV:RS2,%$QOS;7O9$*9ZL'OJ'5*+<H")RX!>(;9L"[:V1X\*K6V5=L+^MN)*U
M.&4'$O7L:#8%',<_<.#`ZC72CGANL4G"H!R'0P8!(';U46V7'ZD3%XK:9BDO
M]@QZC=#YF'5J\=*,8=1XI)HF,@DNN^>@"20\B<I1'G`,_P#GT60\+_`0Y3G*
MJ80*E^I3455*901[4_;1()S&.)2`4.1,&`:<C-[T">O,_28>3;2*U<J,=>I>
MR-)"/<4]O7I*3?QAE26)LX7CSNV"['N62,8G:0W=W<%$1`V)#WJHRC%E(Q5E
MKDG&2DHWB(V4CYV-?1DE).!5($?'/V2[AJ]D`.@8/9(<3\A]&`8%<M_4*F3]
M3K,\\!LYM\U8($L@#V+"%K;^N1)YURG<)1=\BWKPN(](3)E5Y.8W```B(8!Z
M_P#('6$)LJB:F<66+7M>QH.9LE<(SE(M=JO%1`)D!Q[@/`443DENY-J9,IBJ
MJ$,7D!#C`-R*OP22,J*0_"7N,511-'M``[C=YU3$33["\B;D0`.!P#FW8WE5
MJ.GZ[V)L:$LU?V2CK2!?3DW7*#:JY-SZR$<\:,W1&[9N_5*B5!P[$BBJ_M))
MG3,`FZ#P!E<'OG4EBJK^Z15^J+RNPC4CBRRC:RPCIA4S>VDHY0LSUL^5;1*C
M,5R%4$YA+R/01P"_U;=&K;7#,9^L7^FV"O2<LA!QTY#V>&D8U_-NC>TWB&B[
M1VJ"DB=8HE]D>U0.@\=<`U_L'RRTSKBPT.L3MLA!E[ULM35"+=*>ADON:VMH
MLTL[:2H/'K=5(&[?L#H43&,H7@.N`=`&<%<%]\A?A$@B4O>F)A[0$P%,(&]L
MAS?A-P'/4<`XYK/F]IV9NS#7\W(1U2L+C7]GV/(C(W6B2$9"P59L3RNJMGCV
M*GW`J2SQ1BJN5`J8=B*1Q,(B7@0.A-8;LU/N%A*.M5[`JE_0@W:C":5K,TTD
M2Q;PH=QD'B:1Q<HB8!Y(84P(H'4HB&`7.\WZG:TKCRWWVR0M3K$<8H/YV?D6
MT5&M.\BITRJ.W1B(BLL*7:FF`^XJ<0*0#'$"B!RU:_/?0T!&ZHM$+=Z=9=9;
M/MLU4U]FQ5IBU:]4'$/6W-E__6),O>\1?R2+84$&1RHN2',`J%+P)0`]V;YF
M52K0%;M]$2@-J4VR:[V7L>,F(6Z0;/YR+UNR*Z<,(5BY*=Q,/Y$XBB?L$GR)
MR_K2F$>`OL6]#=DUKW2VEAU_P,^IGKK<$]`JW*X]7\37LA^\)UG5+U5J9L-I
M!P"MUV$UH5979V)K*/"."ZVB]C2,C/,V3<ZD*JP2ET&A&9S'5<B<%BF`GP9=
M=TG(U'BT\UYJQ5:.KV+YF:WJ.?.25V+\IO'JV]QUQ7M\ZCMBU$0KMXB)=79S
M*8?T1)FHL=>Q(0)>^6%H@HBD<IV"8"*Y3]HI<<&]<Q'HERW-M*%TAJ;8&W[$
MV=O83758E[1)LF``+MRG#MC.E&K<3%,0#J%)QWB':7KS@'.[/]X+XQ*4VB7.
MP[6J,$RV!%MI2$;+O7!U$$E#"G(*R!P9%791L8J4Q#O5T46JHE$4S'Z]H'94
M1(L9=FUEHUT@\C';1O),'S=0BS9]'NT".FCQLJF)B*-W394JA#`(@8I@'`-(
M77RW\>==[!9:NN6SJ]`W1V$:*T6^,\*G%'F13"'0G9%%FO&P3F8%4H-$W:R)
MG`]W;SVC@%H9>66@IK:+K3\7L.$>[#1>NV(PB2<A\LL_:(D=.8UG85&2=9D)
M1JU/W+-D'BBR1O@[1-TSNL:+%F"Y=YPIM64_*KAALV&!Q'GSXOV-*WMZ=LR)
ML\U6*S:K$:%;QM@13E4Z<@X6G&L4_6A?E)5Y'';F(HDU.L8OJ(9$FGE4OT\]
M;-/UJ:>%,*=?Z&MJ'Y_ZGG8>$V59['2ZEK-[JD+[,2#AQ;!L]?DEK<QJ+QH^
MA%X)`IX>/>NR-B.$P5!8Q.X@]HAQR:#=U=\T/'2T1,M,1E_;_+PEXKNN)-LY
MC)IE)-+=;W(-ZJR6CWT8T7!C8RG*HR=@`I.""/;U*.`9#</+K1E`+<$K%;2@
M]H-JB:'98J(C)F=F4;A-U\UFB8"/B(N-<R4J^=PH`MP@D8"%'KZ#GIPY+J;L
M8S4<)1XJ[*.F;WXUIN)]YLG5.XZ)NBI(777LL$U!J/'<6Y.+9]'/8V9CC^U)
MPLK%RC1C*1LG'+"!54ET4S@(]`$.N9=5H[FBFK=Q4;55TK>&8YN#R/U9HM*`
M'8,M((/[6Y<,ZO7Z[!3-NL]@7:)&7=C%P%;8R3]=NV1()E%!*4I``1-P`".9
MB#74_P";'CI$Q5%GU+H]DXO8#>3<P2E=JUHLCIJS@GR$=87]BCH2(?/:TP@'
MS@$7:STB)$E2&((]Q>,`Z;A+$SL,5&3404[R+E6K5XS=%$$_<:/6Z;EFY!)8
M$U/:705*;J`&`!ZASTP#G>_>9.C]:VF?J%HF)TLI3FT6ZO#R(J5GFJ_24IDZ
M!8]6S6)A$*1$:W4*X`QSBJ(I%ZF``$,`Z2933.1CV<HR.5PQ?LT'[5RD<#)K
M-G``*:B0@'QE,4Q1#ZP-@'*-]\UM&4&].Z%8W]I)*QMEK5*EY>,I]@EZ?#7"
MUN$T(6M3%JCV*\9&RSH'"9RIJ"`]IR\\"(!@%L9^<>AI#82^N64I9EW:-F4H
MQ[>G2[.YUBM?&JAT'M")L%K&+0`69%XG[`H"?N,;G@!$.,`U;4?/N@Q5)KJ]
MZ&V7RY2C&\61^74.J+B^CHVIU*Y2%<E)F1;OBE%DPK1T2HO'(JB0YB"8A0YX
MP#+M@_O#O'+7AU#.'.P;>P8U.M7:PS.O]?3]JB:C7[DFDXJKBU.&B*:L.M.,
MU@71(=/^R`QC"''4#M^*EDI"+9OVZ+@$7S8KMN19%1!P9!<!.W$[=<J:B:BJ
M0E,!3``AW<#@')<MYIZFB-FR.M%(793\L':8VB6+8D11I24U=6[S*E`[6J35
ML9>]\K)()CR[4!N=HS'X5%>X2@8"QU7SMU);)QS&M:UL^.A'<;;I6BWN8IKU
MA2MIM*-'3$I9DJ%+K"4TA(L6L,H)&RZ:"CD#=R/N%#D0,?J'[QG2\ZTE967J
M6U]>Q3?6X[:K[W85.5@_V\H+8L:G*S-);MG$BXF7$;*2[9I\KVD<*G5`Q2@0
M!$`)QOW@VLDH2:D)[6&]ZC;8U]6XR,U?9]=+QU_N[RUQS^0A?V#C2/G,=/M3
MM8IPJX.=TV%H@D*BI2AP&2E%M*?[&\>K;W',G-1;M_OIAU[.\@<>?NM084,8
MK7FW+)9KW<Y_704&NU!.4N=2NM7B(Z;GHFY1R3X&D.VCHZ325.Y*NJ3V1]P`
M[>N:5I.4XUG;SW9]_MO/.\_GOV,KM?>>VM[U>8JF$UYMRN-IS:5RT[7[O8JL
MV:4:9V!1G+U"3@&LLWD7+D';DT:O[(^P9(PIB`G#KQGG"W"3C9:=I94R]JF^
MS*]*VI:A4O[?;J.^$E/=(4X!P!OHYYSDL)F`,`8`P!@#`(%"]Y#%YXY^G^'`
M+0!N3'+Q^8;CGZ\`L5F_\(5_YN+_`/XFSP#,T_3_`-TG]7`(S>GV\!_2$`_+
M@%B8])*0)_,2*7GZ_B[N?^U@%5$_X%I^B?\`K#@%TP!@#`&`,`8`P!@#`&`,
M`IW/;[1N>.X`'LZ]>>GH'TX!\8_**OZLA=V5G<M+8ZZ<62E>2.K_`//N>^]%
MB;[:61TM#1%/J5#;2A4XH*C)13XB\HT(J)GC,%/:)W`)LOCJM1&'EQFU!;,`
M=!M=:Q56_>#05R3D[-.2^PO'W;PR+Z>L;I['QD=#7+7K:+J=<A$O8BHR$B2J
MJ+)JE*=P<ZYP.J(%``XG=N7$E-U2KNVYY;P?0$KEH^0,N@Y0=M''OE3<M5$G
M2*@%4,@?VU$A424]M3X1XYX$.!RL'SB\S&FCCV>N-)^FT_;._+7KZSU*BT6\
M2,22H0M842*PLVS+(>?=I1=8K5:7<HJ+2+4@RRRR96C(!45.)0.6TJ9IROS^
MXZ)O.9I^Q6M!\-M7QNOK-;9)"3/*P3?]J2R<O3';U=9T#M#9:+=J5=F(NA0^
M7*J<3=1`UJ9C5IO4GD++[D3KKOR10JGB[+ZW>6`D8AM%B@[I-+3JZ%3.0PRB
M""EG0?)'*P6-[[H%"KAW`!<`]MP1C+R#E=E2<AJ==K`>85'CY37ATXS_`-2#
MFS'@(*OS+^OV]5R,E&T8Q7YWQH5),ON,$3J<]I1'`/O[$S<'/).GL#*QLPV3
M?NF+IW%/$'K0K]FH*3AL8Z"JQ4W3;X2JE$0$#!@'SW\PX2+0WUXMW:>OTM4V
M3,NZZTT8IST=`P<O,2>NU';&.=F?)"H\<R?RRB2:!%"^^;DG(`(CDM'J6K-F
M5O&-943[3A6I7/;.D=)Z5F*)M6\V^>V1XO[PE'E.F3PSZN05@US5RR-/0J,0
MU8N`B'C)^\6(Z*FNJERD05`[C#D$W.7Z.]+^I:BZ8)X]>\Q>K;PW@VHFS8QK
MOB`K\!(:5K-K5GI+?"^ZI>O69Q<(AK)3+JP5JD(CJJ`L<=(G:JI+*&"),)E.
M131'FJ_=N6;3N6FXS5*/#?TE4N4\ME%QE9BXOK\2N)O_`&HTI,=26ECND=`Q
MVWT(&^V6X>1<.[I$!&3-&>2,-5ZIY.U6%D'+UJ\FW#57_BV(N&AUTT3FY``S
M#^3U_%Q>:^+?2/@5?@^4-</IX4ZY?]1].?`6TV^R:EL:-CGF-HB8?9%FCZ5-
MLKE(;+!2J)`D#1HXV,^KU51M[IN\]T`>-FIDC)AVB;GKGI)MJKS9DHH_2LE@
M8KY?TV#GO(CPQE9B8N\<9G9MJ`U0JLY(QQ%G,30'4\Q`K5FDH4\@X=-!33/R
M"AC"!0RB]S'7:1^3IKDH6I*K2I1[,:I["VWRW0:RMW56HSN1P3=<-M,&O;:?
M*6-\H+XE<H=]J.S61W=+KK3=?SE=L.\IO:=SFI5K1'TO59F[4",ADZE29^,>
MH'*SCF#A-XDLB`&(H(F#*'SCF;BHN]+ABZI4CA3+^4N_!\H3?]"%7G^[_J,I
MVA-^/-LT/)!4?(;<NS&#"&\<]D;>(ZMEJLE0JLE%[EH,A;K=/R9F8FJT\PBT
MGXJ0YU4R"R;"H5,`*8V6?G.;<2DM1/B2SI'W[#A<BY3BI:>W2O\`B]VTVK8-
MBL4K)=9*J[DODUY8MO(FOP?CUK0MJM$A#3FFGTY#_L*"M;*N>O3U!M]!?N7<
MA,*B*)%1,(KE$"YR^<<S<'!7I4D\52-'7;^W%L?A.5*2<M/;24<ZRSW?NR2+
M7/Q*3'Q_;[.D-LVFH3]H\D-H0=C>;5O&X&.N):N5ZSWE*IZ_M\I19$'^NH<$
MD6)DGL<D)`7`I#J'`>,Z_.\X>+U$^R/_`$C\%R>K7I[?:_\`J/I)^[ZMC^Y>
M.%>DG\/:(A5C.VB((6UVJ8N_SK9E+K$9R=1M=A:LYZ7H[]KVFCC/4P<E1`.X
M3>N39UVJU=Q^IFYX;:+X)%=SEVBT;4]-;C"3PJJY;<V]R,$\@JJQOGF)K*KV
M!>]OJVQ\?[U>0K59M,Q68=[;*G;X1Q69&05A5R*K2S-)9V#0BQ3)'[C@)#@'
M34VXKB6:Q["M*KH\F?)BH[/<C>(&:H<?9ZI-V:E^1#+:35"X[OO%[BY6+UW8
MGD3';8EK<QC=?Q-BD95!-6,813-%<@%^$Q@`<QRYYS>:X9WYN.&#X=F*V;&>
MA^*Y<O\`M1[_`!-DA:G-6VSHVP_/2VPK',T_1#JKT=XXW;6-NQT>I689E(?Y
M<RT2>7UO:H!LNL9U*I23$BY1,HF93D!-C\YS=Q<'?FXNM52.-<ZX;1^+Y=GY
M4>_Q+[ITNS">63!*T7!:!WE';KLB5\C&=8\@)Z5M-)^_9<C-N_D"2[74\;1#
M5I5FBR>D9&(J8HE`1'XLML\PUNK_`*.IN2G;@L$Z)+9A1+847])I=/%3T\%%
MR>+5<5GM9^@28*(P4R1--^J(Q$J":#$B*<D/<R<^VV8$6.U0!Z3D"(]YR%$X
M%[C!U-ELI2A%SBZ22JGTHH@JS2>54?FOHC*UL8?=M7UQ"V78TW+:BOTW:[;6
MVN[*IL:L6=A8$9)K$;$HMYDI#7\C:5`8B@U-!.D5%^.2I"42\X/RW,G_`-Z?
M=X'K^GL+^5>WO-T;TL[3>;;R3D*Y4]RV*CN-9^+R1B(5N[Q:[Y&*V&BZM;2I
MPKAF>5E)"/1;G!RX9I&5**8@(F*`<T3U>IG)RE-MO/(A::S2CBJDF^5JJ6VB
M[`FM>P]YJ_C2EL?5SZ!"?U=L.[1"6P(E*;&\O9C4;E_'W&1UV^,=F1<"F,1%
MP`J)D`1$!Y]3?^YCT^GK3A52P$K[)Q4M#[1GO'FWOYUC3O)O6NMF-75V<LZD
M7[I2)?4B0J@6@J4_K"NV9^=RK'-Y(Q'"7:<A3B4I<>IO_<QZ>QEPKV]YK.)H
M4[)UK<):919<M=G_`!,L58<JUK4&VJ2P;7EO;*E(-HR3G-A2\K+7:ZQ;A-81
M=IIHB01/[9CD4$"QZF_]S)]/8^U'3>Y-"4FG2V[JFTT_('T2WUEXQ;!=5*!J
M]BG8!]<HO;K4;]/0,.S*]6=W).D'4,Y^5`5A2,50X<_'G7J+[_F9Y=V,8W9*
M.2;,-N-<*DE;C.M6V%QK&Q^3FQ96GS=JUEL._0%=BWFH]>MM=N66L*[(,'EH
M82#@CAF@I)`:/:2B*Y3"4Q3Y+U%ZN$G3W%9TYX-46X5"QZ62GJ!L"I-('5F_
MZ<!+-67]>0@6+G<[.RU&#>-%%W[*(3>P:O=',RN5R$;H]J!S)EY&VQ>NRO1C
M*3HW^@.UO+NLWJY>/.S*SKIM,N[/)PC(S5G`O58Z4F&;.Q0CF:@6;Y$P&;N)
M:!*Z1`O!O?*<R?`\]/3(/EZYU#$6BP;QLFHO$_9E.UB37>A(*QTB3J#J@CL9
MO1-GC8]@5J!@UW:,O-N#5M$4'*7RR*4DDE[1#&,L'=Y%S47U<DHR=$V>I"Q9
M5N/F)<37Q,T5U]),YUSM74VBM@4[1$)M[2UX3UNPI3ZK6J5F:R66;WV^U36!
M7<<\AS$8NVC;Y1)L4KPZ*BP%Y$1SGU%_[G0S:F$;<DHI)TQ,,L5#G+3.SE^V
M1XO[0N^N9OS=?[,D:&\K"CBSC00TPQAHZWJ5I&9`DZV"TF`2LU#=O<4Q1(94
MO&7Z>]=G=492;CC\#*S86K-.SE/WAXW[)L>DI"-@E+#Y!Q==(UI[:1D=7P%S
M<PLKJ2'M9X]H=Q"0S),T@98%E1!@X5(GR!@STB#ZE[E92LIJG9$;!UY*WS<C
M3I]G$U=P_/%(V&1<,%B-(I61*Z9BR*\6$"]XK)@`]!,`#@'Y]C>.GD%+P%E0
M9:'O#5*<\4=HZ[E*^CI_6^JH=*XR1(B0C*5')UNRNI>[*23I%=`DQ,'!N<RA
MC_G`(YY>MYS:Y==5B=KC;CQ5HWFVJ8=1OTO*UK;;NN_&TTZ4;2RHZX]?<=`O
M]![`ND4^E:+XOV'5]6@M5:8J]SUK(HP51F-O3U,V!'6&S04;#P$RM&/FT?!D
M%--^[<@WE`(*:IC@'3-'GL-:_(LV_+N9UHT\,T7OE5O2M7+E^-V&5$TUCM=,
MC)[#JK9[ZZ7/R#H'C+::51X^U:$F&FC/NB`B[U>).@6"0DKE=F%582WW!77R
MD9-$9BBB/NR!&@G]0`<L>HU#>#9S&UI4L>%^V!5Q6JMENK"WW9:_'C8#MPZ\
M[$]J%ILO#UVQ7&,UQ/:V;5IG8A:&EGJ+="*DSD%=),P+,A2-W@(@(A[)Y9]H
MD?<,)#F(<![N3!P<W;\0B)1$3J]P@'KP80^K`/A+</%C89B-E'_C$YOA;;J[
MR"UO.-HB8B:1(MTYO<BUSI;IQ9D9$[RO/YJ!<NONUP5-4&;DZ1')1;*+<`=,
M^!^LMVT;8VW)6[T:S05+GX"E-ZW:-EU?4D!M>7L$0U2C9.-FU-/N30,K`QT*
MU1*@NZ12.9R03`8PF'@#=?G?3=I7'6M*C]6TI6ZNH[<%)G9]DP@Z78['#P$2
M237-9:;#;&=M**\LT-*"W.@:3$Z")1,H4HJ%*(`?,>I^/'D57)];8TWXKVR]
MHM/*MGNM*H6J=U7(V>;J4AHY6F.91\5JI$5%*WLI4""9E\J9%%<"I@HH(>Z;
MS=1>OPOM0;X53X&^S#3RLKCX>-USZS-EO#WR)?H*6)'6XP0VTOF[<@IA;=7C
M'U<XW+$0C+7-&:@R=?=ZKB2/%G64)'A\DS<+&$3#]..\YWU2[5Q3K3=V&JS.
MU8=;=%)JE=_Q,W6T!ORK[3KNT7.H4[1'1'D10-@2D/'S4$I)+5Q7QJB]:V&7
M42D>8Y<E8L[=8KD04*Y<))`=(AS&3#.+-B"NQ:CBI+?O++NI<K4H.>#B]VXR
M[PJUTW<^4N^YR&FZ[9=1Z/EIZL::>Q#I*8-&3VZ'9+[M",,];**LVA:S.!]W
MI$3[5$T.2&X#IGT)X1]#M_4RQ;"T;M6C5Q,GW]9M=V6&B$A]KY=S)O8A\T:L
MQ6<@*!0<NA3$3G'X>>1'CK@'S)8:S\FHAA99"&\6#6!YM_QXU_IB3B[==-?,
M'FK[)08.R4E>5D3)*NH^:J<JA()R3<K`_N]_(JI@80$0/IEHNC3VL]/Z_P!<
MSDJ,W+4^DPU9D9=0KKY>0?Q[`C=PJ05.]R9LFMRFF/(B*9`$.G&`<@7S6GD5
M6=O[?9ZWTEK+8U,WQ8Z795-C7Z>B'3"E24`SC6LBWN-3=LR3EF@H]*-[HI%F
MN0[=954W=\88!K6#\>O(?NH6AGNM:@SUS1M_GW;(;S:S:(-9N)2LRUN90%?I
M2[=2U1=KD)IZ9JY.H<6:<>3@RA@R:NE-AHAJ]3;24)M)*FS+L,VH?B]M2"I7
MB;$KP$1'2FK+'NV0N1$W2!R(,;]`W2/B1.HW32*_*[4G$"JMP^$@D*8P")>0
M@XNW[M]IW9.375^ASS->)/E+=JE5VAJ)#560KVD]9:@=UV;O,)*)+OM?;U@+
M8[E8V58,G")X25IK`SKVW`>ZHY,=,_/I@BSP>:O,_9M-X[T\5MS6NU^0UYIE
M?KKV3EIWQ+O6IHEW8D(YG9)C0$Q*2\]!38?=I209%BNP3:K'Z',)>O:'&=./
M0;U'1I4:5-N?NV^)INS>)GE'LD^S]F6JA04;9YW>E-VA7=<5[;L]39-]3D]8
MK4&P0_\`FI7&19>%NK(IBJE<`D1`3I]J2G8?/#GS+^Y[4Y6]/JKD=.I-1BN&
MBC5T2P>2/4A/D?#&,K<7.F+QSPZ3NKPET/:=':^N[>XP$;6K#L+9UCO[B"C+
M9:[\O%1\H1JVBF<]<;;+2S^Q61-FU`7CH@HI*JCR!.>N;]'J>9ZF$I<TNRNW
M$_IK3"-,L*;3R.8O1NY'T45&"CC3:ZY^V&XQ_P`M]=>1MUE]3O\`4/S+ZO0<
M]/EOU9C-CRNH;$\92D<Q3A9B-OL/%RKQHRKBZ2Q73!L*)I4CKL$>"'YC7^?Z
M27IFXWL*-=:KW%6A\CU4?4).SC5/+)T[SB:O^%7DW2-0ZYJ+6ETF=ME4L>VQ
M;S50WQL'75@J;*]71.R04V%Q;-A=7UBW$B2DC#2K==H[,B(_G',`_//\VL/-
MEW>![_%R.M?*2K38_>?8_7D%/5VDU"#N,ZG:;7#PT<SG+.FQ2CDYB5*T4%Z[
M;L&@$0:`"OP%,8I`$``>`,/;GU<.+@CQ?NHJ]=,3Y>?#QOA_;5TZJX'S!\G_
M`!%\E-PWO:*T*_JDY4KBG"EI*D_M38U&A:'&FCV;6:CIK7-%9$B-FS'S;,SA
M!S*+F22%4"&#L3*&8=7<NPN)0=%3Q->FC9E#^HJRK^B/J'289S7:E4ZZ].DH
M_A:_&Q;D41,5@9R@U(B<R)C#^L`54N>WD?4,::[<G=49R;P9%^$%%RA%*-<-
M_3[F?"WR$EK?7=W;,\?]<H5V;AMD>1>J=ES]3GZIL-SLUZZ(:O#-DJ;]M'.*
M7*5IP>$!Q]].W23=B#9=H8Q53$,'H&,[#8>-'DFWL7^6+MWJAWX[([G6W:G;
MA:OD]M][Z;-;E:4I`%0&M*NVTP1-,9HKCYGLY*!3`)@`"1ISPTVK1(QRC-3]
M7*NXT;NS7P,V3B3<)!;ME[-E;U%NGBAFX)JQ;2-D"H+]GZL5`$.#"`#@'!^Z
MX[<FAH.]^/%,LS)_<]FZCU/2[36I;55[M+F\6"+@XRNR=MU);(2->0AXQ9J8
MR#EA-."*QJK8RX`FFX`,`_0I5VYV-=A6?M&;K,8QBS,BH/<9)=FT1;F[^HD#
ME1+NX*(DX'X3"'7`.!)#QN\C878EY@J'L6A0_C[M#:)]F6PTA7I6:V7$M9MI
M'I72A1#15,]=>1MR>,R@+LYB"P;=X@(*=I@`PJM>&>^V$/0=?V786OEM.Z`6
MM4EIN+KL78DKU8IA_$62NU0=FOW@.HS[KKL/83)*-XML)G1B=XJ\<"`&467P
M6L5SJ&DJK/W%@T>ZGT%*:N=3T1&22CYU<7[^B/H2U,0668-5(F+F*:HX=-3*
M`JJBZ,41$!`,`Q3:/A9Y%>0M<CI[=>R=03E[I%NK5KU=14->6(=/,GD)'3T)
M.(VX'[S]L5B;!B9@QI!9NJ0[!0"D;#P4#&AI23B\FJ$IN+4HYIF=:%\)IK55
MMUQ<';K5<&Y@+5LRV7>MZGUZXJ===.KM3X^GP+&"?NW\K8I=.!CF'MJ.WZXK
MK$'@Y>[@0R^@T?\`MKM?B:GKM7)4<W3J77N,@JOAE/52!U1%HW]NHOK+RLO?
MD>N]3K2YC3<3=WMW='IJ*8/B*M'*(7,`6<`!2'!$0[!ZCFB$(6X*$%2"R1GG
M.=R;N7'6;S9VG2V]W90#%M>)2)F;&D#D'\C7H9W"Q#HIG:QV1FS!X\?+MSI,
MA(14!-\2A1,'00#.S@RSN<_4I_0'_9P"H0%0>_W.[_5X[@X^OGCH&`5&`,`8
M`P"6J(E3,(#P(!T'^$,`HT"(\',?L`QC<B)C<"/3[0P#&;2`_<KX2`(B0[8Y
M.WJ("1ZW,4Q>/42\<A]F`9>@/(*]>>U8Y`_`!>``O\`8!--Z!^D3^N7`+&R_
M\6E/T2_DP"JB?\"T_1/_`%AP"Z8`P!@#`&`,`8`P!@#`&`2E4O=`H=W;P(_1
MSZ_PA@&EI30^GY+8:>U)#753=[);%1!"ZKP[52:*9NB+=L950Q/:<J-6YA*D
MJH4RR7/PG#@,`S!Y3:N_L4=;G<%'*VB(BIN&B[`='ODX]A8SM59ELW,<11^7
M?+LTCG(8IBB*9<`L.LM:06J*'#Z]K:KUS"09WRC(\FL*KD3/GR\@8JATO;`$
MB.')A`I>`XX#IQ@&*[(\;M$[@EH^P[3U11=@V&(:*Q\5+VF`:OW+6/66!PHP
M4[?:*[9BOR?VU`$O/7CGK@$R4\9=#S;*F-)K4VO)6.UTDBE0V+VI12Z-1:HG
M(9./A"G1$&\:4Z95`;F[TBK%[P`!XX`O]AT[J^UV:L7.R4"FSMOJ"B2E?M4I
M7(YS.Q)T!2404C7GM`#4R*Z!#%+VF(7M#M`!`,`\6TSJ9S>VNT7.LZ$[V0R0
M5;-+VYJL,M;&Z)TDVY2)SQV8R(@#=$I![CB(`7@H@'3`*_76MZSJZ$?5^J(N
MTH^1L,[:7AGSLSUTO-6-Z9_*K"L8I`*B9P;]6F`<$*'&`7:S4VKW$D<6T5RN
M6((AZ23BR6""CIM*/DD@$J+]F6016%LZ2(/0Q!`?X.F2W4U0U/`N&CIT.GM\
M24WI%5:C'F;UZ#0/#-GK*'50B8]`\<SDR%3DVK5-%NDV0;OR$`JA"$*!BAP/
M.*H[]9*M:8;J^S+/%:GUK!,I^.@M?T6$8VM99:S,XBH0$>SL"CE,4W*DTS;,
M$F<H=8##W`NFH0W/)@$W)LKO0\VV[:PJ1ZMY4?;[=N?NP*EEJK7;&KJ4IC1:
M2VIBZJPA4BUF%2K9%G)S.':I84K+[O$5G"@J<`F!@4,(@;C@`Q^B_P`2RW?,
MCU4G3/![S,(Z,BH5@WBH6+CXF.:$*FW8QS1NR:-RIE`@`@W:II))@)0X'@,W
M)45#*W5U(5V#1TX:N7#5JY68G.NP5<MTEUH]V=)1N9RQ44*)FRJC=8Q#B7@3
M%'CGC,][3N[+BK3#<6V[J@J4>>^E5N+"VIE:8*@>-KM<C>U<'"2C""BV3A!?
MVU$C+HJ-F:907%-<X=P@/0X\^N4^B;_F786^JPR=>MLJFM3K+)L\8M:Y7VK*
M15,K(M&<0Q:MI$QB$3$[]NB@1N[4,FF4#=Y#%'CTP]$W_,NSYD+525<Z]?MX
MGJ-7@$'B+Y"%AVKINDW01=,XQDV>IMVA4DVK4CQ-N#DC5LFW3*0A3`!2EX].
M.'HG]R[`]4]BV;7^A7GB8M9$[5S'LG3-1<'1V;MLDNS(X*<5"*I-3D%$ABJ&
M$W/;W"8>1'G'HO\`%W?,CU#SQ3I2J>-.PJ"I%05!!!,`*!1.'N`(F,ER0!,S
M!`BQC(E$P?"(%#D0ZY;8TWDS<JUPW'-V^[L:-8U]JK>35D@,)!+V]Y3""A_4
MYT!+P+;W"]JJ2?N<&$H#^>'7-+550H69).R;'$P&12[%`,"Q013`SCN+V\+'
M,4XJ<<\\C\0CZB(<@.'T/^)=GS-7JFLDZ]>'9W=1Z1HV(*`@@C_PY!32_5%[
MB)^@%(<.!2`0]0(!2C]6/18_N[OF/4RH\'5]),!(HCW'_M#E$JJJ7""I@YY*
M)%"!WIB!?A$0'J&76+#LMMNM5N*KEQ35$J)/K(C`8"&*B7N/VF!,JBJH]QQ`
M>T#K")U@[C>I@Y$/HR^2XHN.]%:=&F40<&<_JTP36$B9E`*A_P`4<#'`JK4Z
MACE.0H<@(F`3B!>H_5F+T7^+N^9I]3A2CIUX==*%6!2'Y,`)]H@)/U91*!P*
M)B"141'E9-,/S?0.>OTY/HG]R[/F<^?T.O7\,,.DD$9ID.8Q>T"B'0I2G3Y-
MW"/)@35*00+_`*H@4#`/J(YSZ%_<NSYECU=<TZ]?BNTD'`C8Z8IJB!T3'`05
M7,H'>LF+@XB9RMWF.+8ICG,7D4R`/J'.3Z)Y\6/5\R/4JCBXX/W=6PJ&SA%^
MW*LBY:2;)4H'1<MU$UFJYBF$!`BC?A%P@0P<"/'Q"'X,GT;VRK[OF<><JUBJ
M/K\=I4=@=ZA^3`*ATE!$%%!'N2`0[#`)N#(#S^9T#KD>B?W=WS*7*KJ0'3.<
M1_6]A>2B'84_/0>1`0,L9/@?P%`0^@<CT+^[N^9%2>97L2`!'G@"%$3&(0O4
MQ2B/>IR/T].3<B/3GKSEEO2.W-3XJTZ/F*EGBK!"SSF5BHJ6BY%S&*@A*DCI
M%G(*1;@>3(-I!-HJK\JY63`3>V<0,`!Z9L(*UY(1L6@*TE),V*3-N9RX4>*H
M-P0:)=J:CP_><O:T*<P%,H;DH"/`]<Q2TCE)RXLWN+XWE&/#39O*D%?S/;*@
MNU,0!+VB4Q1[@[@%,P%`ADS%,`E'@>X!YS/=TNHBUY,>./90ASM3QNR49=.-
M>\F$6$#!_P`.D4H>G:8O(<!TX#LXZ9WI[.IA>4KEOAACC[CF3L4^BXI2W4^9
M02LY%PS-Y*3S^/CXR-2._<2<LLBPC8MLB41.ZD)-Q[;%BB4`'@ZITP$>0Y#/
M2*RPTV]4K8,>::I]HK=LA`7.U&5K,_%6./!V0#&404>0KIZV05(4.>#G`1^@
M,`RI5-`3![0$,7@.1`.?BY'G_1QE4]/IKKXKT.*7Z$JY?AA:DE'J^:)H,^.H
M&2`>/J$!_+E4]%IN'^C'AGOS.X7]0I?U9*4-U*?JSWY4W\]/\8_R95Z)_=W?
M,O\`4K</9/\`2`E_";M`/Q]P]<Z\_5O*Q_\`+Y&6FXJ4@$B8EY(/4>O?]?\`
M[HYIM2N2A6['@GNK7]$0U0I!!N'^N5?_`*@?#Q_UN?B]/3^'+`529P(D`IHF
M$.[CL3$HB'(]3#W"3I@'C@1$I2]O<)C_``@F(&$1`IAZ]W8`!Q]/.`6X!`P"
M8!#X1,4W`B(%,3D#%$0`1Y*8.!X`<R7=+YDW/BI7H+X7^"*C2OO(TR>Y[?!@
M#OYY$Q52%]!'A,54TQ5-^#@.F5^B?W=WS._4_P"'O/13^(2")O42CVCV&Z]/
MA'GX3#]`_1DQT;C)2XLGN^9$M15-4[S&JO3*O16)H6IP$)68U1X\DEXV"C6T
M4U.Z?JBNZ>G:QZ(A(R;IP(G675,*QQ$1$>,W&8GVV\5VAPCN:M3]*&AV;A@R
M6D'?>"0JRRY&K($B))K*'.HY5`HE$`$O`B/3`+FB^:KD*LFJ!FQP`Z;I,#*H
M*)\@0Q^](IQ2$J@B7@X%ZAZX!`=V=,QN6Y_;`W8!NX?<]P5BD(!TRIF`A#MQ
M%7N[N``./PX!7B``B"P]P@)1'L3*)U!'IQVEY#N#KU'IQ@#N%/V50(8P&$!'
MJ4HD#ZS``G,?C_J`?K@%8+LI>\3D.1,O'Q&`>[DPB!`]DI3*AW\=.G.`4G*@
MG[O:,(B(&$A1^,"J'X[NPX$/P4!Y$!`#?6`9*='4E.CJ0@NJ)E$_ECBLFKVF
M2(JBH8&YA'VW)A*;@A5`#D"#\?3H`YWYG06>9T$])V)N0%,$RE$2E$RA#*'`
M#=I3^RF)SD(?U^+@0^D,J<8-UH4OB;JG@/O`A#B14@D*'M@*_>06_>J<")I%
M4`W(JG.(``<!]N$DLL`J[<3"+]LF#H$,QEYQK,.6<I/P=::C`Q,A/+DDYY\$
M<Q%TUC&R[ELR(],4JZXD%-!,14.($(80E4_F542Z_P`KHS*DU%5`6'VNP4A3
M**1E`!7D3`"QQZ>Q["91Y`Y5#`;T'M'IG5+/V(YK=^[N^9B6P[_5M75"6OMP
MD!856$20<2$DDBJ[$B#AT@T3.D@U(LHJ(K."AQ\///0<Y.C*DW31<B:J;I(R
M:P`"'Q`1114.IT/;4$@E7+R`=@CW=W(<!QE5S1O4/S$Z)8/"OO+[=WRXTIM-
M<7C<-,UK8==5VR+OPD-GVW]B:U]WL%GZ:<\>,5DDFTJ9L"AXTRR:0E)WE'XN
MH\!DVM!*S_6<JQ6&6_=CBBK5ZO@LUX:XK:9XB\C'2[M9,L>=VA^K<F;&*:21
M$$RF,0QT"BZ(H'?P)N.OU!ER2IF>8M?55X._Y%BV!?*SJ^CVK8=Q>J1]8IT%
M(V":<HHF<N08QC51VX3:-2B"CIXHDD())%^)0_!0ZCG)Z)K34OD/4]QQ+V;A
M*UL"J1K)E#27O;(J$E3!?QU@ARSD9(Q9'Q%`>QXL%"BLJ`E!,P\<&X'B50QW
MM7Y-SR^&N%:U^1MQ[.PR<:G(K24:A'"*9B21I=DR8%%4IRLP:/P<?+II/5"]
MJ?!C=PCSVY9;M>8Z)X]52OUSI^SO^6W8'%FAF;47CR5C6S4B)5U7CR29)MR(
M!P0ZAW13BBH8A_A$2B8.?40RWTKI5/N(]>Z_L[_D1'LT$F=L125CDCON#1R2
ML@R(O((=P$%VS0,N"KEKW&`0.F!^2]0#C,]%O)6OKCP8=9@$+NFIOT[@[F1&
MCL:+:YNJR[^[24-!LWBM?1:K/YF)74D%"*0O_%%`JCGY900Z]G`AS%"%S!_8
MTUT_+YFPW]_J$6A%.9*RUV.;SH$&"<R,[&,6<T95(7"2,6]<N$VKY=PV**B9
M$C&$Y"B;H4!'#5"^QJ?.DX\-**N=2_DDD'+?WVQT7*"A#F36;KIKI*`'<`]B
MB/>F<0$!`>T1#D!#D<@TR?#%RW)OL.3[#YH:9J$I:HN0D'KEU3=KZXTO8OD$
MT%TF-SV:$4:&,*IUDDP@HS[S`K]X<2%;G()>#"(9-$>=^0V\#IU_(Z#5V?2$
MJZ2W'M-92JJG)2V9Q8HI"MD5[Q2*FO.J./NQ$QU0[`+[@J";H!.<GA6\[]<Z
M5X'3K]O'H,AB;`SF63:2CU&SR/>MR.F3UFZ*X;/&R@B!'#=0$R"J@?CDIP`2
M&`0$!'(:+M/J'?K6/"DM^?<7/YO_`.7_`-O_`+N0:2<DK[O=\/;V\?3SSSS^
M`/JP"=@#`&`,`E+_`-D?[/RA@%&DC[H"/=V\#QZ<_1]H8!C]C#B(?!]0)!^)
MRE@&3M?_`-X_YI;_`/)P"H-Z!^D3^N7`+&R_\6E/T2_DP"JB?\"T_1/_`%AP
M"Z8`P!@#`&`,`8`P!@#`&`0F$0$/L-_H#`/DO'>35_IOE]Y+5G8EU?.=.0$%
M*/:1&*L6;9*IR]!U_5M@335.3:IF>21+;%2S[V4C\J)?(*F`!`O46QLW9+BC
M%N+,&\9O,/>S+4]NG]S)L=EWE;?3RGH.I"=J6I*!K^OS&MJ7L*N,)^>GAC%6
M*:2-H3:`!T'2JK@W`%#KS;;LWKU?*C*5,Z*M"B_*.FIZAJ"EEQ85IF;EK_GK
M8-@Q5'0U1I!:^WFYEW&21A2;'@F%;K+K2$]&5VT-&]H.R30LB+U]+(%:.6:)
M2.#K$[0X'G.WI-5']UN:]V\H6MTC_P"[#M(;_P#O`7%;H%1V7!ZP8C69O6[S
M9,RZOFT*IKA9%I%'>)35;JL9,M'3NUV"*=,#D,5`@=P'+Z]X<2M%JW5*W.J>
MXCUVC_W8=I0;%\_;I7X>[W.@:)E;[KS5E<HDQLB:7N\57Y6--?8:,L2"<)`O
M(4IIPE6@Y(%I`[=0@@8`].O%$HRA)QDJ23HT;;=NY=@KEM-PDJIK)K>43C]Y
M%5(C;$G4))A5R4:"LM7H<O..K^R)L-_:K(VBCG=5O6K6(>*R<#%+3;1%=0KM
M`Q53*&$H\=.1.W.WA--5*:.\W=]R\Q!147X^5MPRO.Q]J:@HTLYVRDR57MVM
MGM@+\_.LA@7?W7"/F<,NH"WNJB((<`(CP(C@]G_WALU'5RB+EU[6(2WV$M_1
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MNUZ]F=VT[:FK8[84.77"]BKFND+379>>M\DVCBJ1)2.&Z[<JH%,@HX[1Y]`'
M:L7FJJ+H:^COWDVRD65_;&I^K+E9H76;785+;:]MMQD*G*/$M@UZF/:A.6&Q
M5E)=(Q"6`BIY)H55L)A`I>2\#E3OV%_/'M'D7OMD;*N?FAY%:^K^XXFSZ<IK
MK9VK5]2/'@TR<MUPID94=G%41=VZQ-HR)0MB[>F_)G6=-XY`XN2'*8H\F$`>
M?9^Z)'DW7_*SK7Q-WNY\@M5-[I(/]<R,JWGI:OR3K5]CF;%6'#F+[1%TDG9(
MB`L]<<+D/\<=)-2N$!^L.N3&[;FZ0DFR)6KD%646D8SO3;N[&FUZUI30$9K1
M6VJ:]F=J6:7VA(39(8D'&R[:"BJ]'Q]<*:3*]EY5P!UWAOU+9J0PCEAP<M*^
M:?D7>S,9/4E3U3&0L'XW.O("\L+XXLLA)@ZKFP;7K^U4F%D:V;Y-3_[X4YVN
MR?GY37;"0PAP(#@'TYH%J;7:BU.[($4;L[56X>RHH*+?,':H2\8VD?8!<H`=
M8J'OB!3#\8E`.>N`?%26M7E,-[V8U9W2!DY6O?O#J+6*(W4D;C'U\\-/4ATH
MM5;%[,BY?.J3%QTTU>J1[4H*JO>[KP`YQ<N6[4>*XU&-=H-KR?G%O2/A(ZDE
MBJXXW(EMK<.M;/8J[K^_7^FE8:L8-YE*=@Z16^ZVJ2,ZVE4>6ZP>X0A!]0ZY
M5ZO3-T5R->L'=_BMN6W[MU>E9K_4'=%N$=-S==EX5U$RL&60-"N_E4K&TB;`
M0DW&-)DH>Z1JMR9L!NPPB8`S0#6&W-I>1;G;MVH6EG6IX*'UC0JK<IQWLAM+
M.3V=U:'+PAXE-_&2*1:G'L&#`QRR"S=5$JQOC*8H&P#0QO*3R;DG.Q-PL%=6
ML-*:FV^QU7-:^)"2\Y8[8P27@&D];*YL!O)1C1PL168,+!J+(B;H2<`;D0Y`
MH*IY$>4<W.P<Y*7.@-]>7S>^Q=$URK!09%O:XEO$A:C56W25I0GP04F@-")E
M=Q8$`2IF$##W8!S-3]M;KTYIC55ZE[92++?QU1Y+2\/8YNH6ABUC"U^YQ+6/
MCGC9Y<6_MMP>/A*NN<%!5*<"%$H8!TFX\D_*6B.;W7+Y8Z%8YJ%C?&ZXP4Y6
MJ6O7(=*-W%;V,!9*:O&.;-.K/31S)4PM7PBV[#"`\@(<X!E&Y?)?<=;E-N5J
MMWZOQ,DQW!2]:TU&)UW*;$O)(N3IK:P3I*718)S)K6^_J&,<[<CQ1I'-4R&4
M=")3$`*;VIT^GH[\XPXLJNE:'483G7@3=#G2D;>\A]PW+3"ERO*R1M=[_P!T
M:_D`G]5Q];E[DPC=5+62.5M]2B+*];5"<:PYSLCI`90JQ53.B%`"=N4PYAH;
MDU"%V#FW1)/-G3LW8JKBTD;"UON/>T]1Z[7-97[5VFHS5?CA$;FDBS-993,!
M<%9*<O8JQ#TSI\62KM$8-*TH9T]8G%VFNX2[1X[@'85E+.>4_DS,H;FV=4[Y
M6:U4M+:F\>-I+ZQ7J3&SEM'^8-46E[A%.;\NHD:-;+&5*NU,W*8P$*3ZQP#[
M"P;X[V"C)1T50JC^+8ONP>0$A7C$KXX'*8.`60!SP;CZ$PP#Y0UGR2WY+151
MW<ZVI7'=:N_D!-:+)X]L:A#HS$2V=7B4H;!:.L9UQG7]XK#2.)./45T@:G06
M42Z`F41`W%^[*HI:EH>;L7[0Q]GD;[LN_3<K.-*75ZB^?/X^X6&%76F%ZZ=1
M>P/#?)@`.'IO=(4O:0`*(X!H?SM;V,=F;5?M+_+0L!&^$FPE2UY*&;JQCD5[
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M`)E(3*A$Z])2#&JR#C7\9;@<=L>XJSNR#VJ).A%$[L4`$.N"XT-LRU:1UE8=
MTM?&N?9ZRV%/J:?BML6JIH-D]4ZXB[7.H1Z=K1;1S5S5$=A(,!#WRB0#"W$H
MF[>IL`QF8VWN&#N=FT=2/(NP7>`)M/1$9';N(WI$[8*PWV+-65&Z:]DY1I%2
M$%)/PB(=)Q'G.T%PR37#W![0*&`4B5AW+2I:V6"2\CMH6Z,U7Y75+2S*KSIJ
MNA$3E0LLDR([4O,G%5)K(V*4`[WV"+(G*9J!>.#?17=O6K$/,O2485S>1W"$
M[DN&";EN1@%3WY>ZO"L;_-^4=NN%IEO(+;&O9W5)F];M#6I:]JRM\,O(1U/A
M(L;2+RB-(Q"0^:>$*H_2(DT,(=Q1S-^2Y?2OG6^TL]+J:T\N78:IJ7D7N-&S
M2D?'[]NDZ2V>*^[-D0O[9;2US9)%2RU^`:*URR1]#I4(F;5"D.HX5<DCUYB8
M%02`!PY`,]+\_>V:1KJ@L>OK*:LW['R_D-6IW:U(@_)#86RI&*\3-5^3U<=6
M,(19VZM\?89&5L-7A_N:MM'K6H7>"KIFJK`4SF[790[Q]SG*+FMCJ9>;<BK4
MG_+2F6VG2,6=F^$.T;;ORK7S?DA*64==[-O#\^FJM8F:+16M:ZJ3"/K**RB1
M"%4;RMDLB#]VX*;^T`I#=.,B-RW-TBTV0:F\^]FSE:MFJZ/#;"NM+"8A+I<W
MS&O;/I>D(:59U@]>05?3&T[G$V`Z0PZ*ZRA(*.9G6?AW*F[NW@>\L1G@?-!7
MRGVW:=1:.V!8?(1[)IMM%25MFU:AMNOZMN*ULK6T+%5S[(@D)ZLDKVZ%9:K(
MILON<HL%CNB"O\B`+`<F?U>E_P!R/:7^EU/^W+L/T>4*:3L=&J%@;GEU4YNL
M0LJBXGH].,GW)7T:W<D=S,4FDT182[D5/<70*0A"*&$H=.!RZ$XSCQ0:<7M*
M91E!\,E22/SS6+RKO3;?-)L%6W!;"A)^63>@V1I==R0KN56I2,\,=(0S/Q@K
M]2D58"GII%'B6=R"*X@`*=W`CG1!]_\`;<C:XW4^QIBE$4<W%A3;&^JI&8)N
M#KSS2-D5XE!`JAETEA4=)I%$IA$#`/!@#T")2C"+E)TBE5O<D3&,I248JLFZ
M);VSX#Q6])0(9DIH?R9WEM+;ZOB?>-@;-I]H<2<NPI^PDC5IO*S;*)DHYC+1
M=J@D5I,&T6T!1,/8*<`#IF+\ER]_]ZWVFQ\MY@L[-SL-B2VRT&R\W">..^MG
M[9H"&F:U:-CSLW>)6YI5&^N[S764*8\O+I*,H2SW1BZ<)/(I,07:)I*F[2B7
M+8ZW227%&Y!QZQ^.Y@G3R;E7T&9K(VIO8=J[Q;7_`&6>[U;SCKFM*Y#O[9.J
M:_94F8F:<WGJFVI)'Q(PS&5+(.U%7:Z#A-(4SF*!>1YGU6FI7S(TZS/>L7],
MXK40E!RRJJ5ZC']6WJ#_`/47X\13K<NU'7D%*;WVG`;RUM+V>WEB$8^.96M>
MMQ4Q4UT&-9K46QA$6:[!-)%-)^B)!(4PF')CJ=/)J,9Q<F]Y?'E^NE9>HC:N
M.Q%5<J8);V]Q]@/(Y_>8WQ_VH\UDBY5V`C0[`>J`T(H=T:3^7)PDP*D`J&DS
MH=YFX%`3>X4./3+S&?&!:]ZY)34'.E=P>3MLK3HFJ$/)Y<DU;[!'4FMN[*A_
MF1[DF_\`:D*5:W4=[@.4(@`4;H%$Q.WC,D]?HK<G"=V"G%T:KEUGI6^3<VO6
MX7;6GNRMW%6#2_<J5^G?ACU&0HRB-QC[;0].WW;-G\7WGD1XY5*G6=&Y7Y:2
M%[9G4@;:D)4KK*'+<9FAD*T:)KKB86Y72K@B9N@CB&OT4_V78/J93J^7Z[0.
M*UMJ=IRKP\2I6E*TZJHIIU>,I=BMFNMS6O;D+X@43R)VC!OY`MLV"XD8R35H
M%0LU&;/[LQ5-=24L)%U($:D4$S0SL@E`P],ZEK=)%<4KD%%=)19L7M3=C8L1
ME.])T44JMO<C5^SK>^4F*,I/[-V+#>.:^L)9YI6R;U<;Q8R\E9D[=,*)2+A#
M3S]K8)A^QA?DON<DURX5BQ`68>Z)@RM\RY>E5WK='TGHQY#SJ<G&.EO.471_
M3D]SW&RH>J7>>K&_ME7^T[:F]I:D\)]82%&L`S]XJ93W&Q:^OA7DXUI"#DK0
MUTDFPM?=,X%PX*X]L3![I>X-D91G%3BZQ:JGO3/+G"=J<K=Q.-R+::>::P:?
M2F=->)>NVFL-\:_B*H]O#FJ7SPBJ5ZN:EHLELL;*=V6O>*XBM8'9[(NX093[
MJ,.\*8B`I]Q"G,)`$,DY.EO.=:9;Z>J"E?-.E?&\@?'(SH*Y\]]YJQ#?<E1&
M7*8(T2NA8%8F.#K_`.'[`F]SDG<&<SG"W'CFTHK:SJ,)3EPP3<GL1P%2:K<X
M-'3&T8`^S&VR]A>4'D+KV<?6&0LLP1S0)1YLU:J,9:)>*!#1E78.V3)5FLJB
M0J?>00,8HAQ3ZO39^9&G66>GOU<>"5488R9ZOD='7"+UI`>0<AM__*59GOL9
MEKL,]9_;EG(5I_*)7..N`J,5+8::05-`_<A13%MW&-^KQZO2_P"Y'M)]+J?L
ME7J,ML^S)V!+:M'GA-J_YK/O-:LWY%O&4FYS$)':MM%CK\DC;!L""1X9E3@8
M.#HJD%0.PR9Q,4`'+;?.^3Z-^7JM39MW'C24J-IY84RP>TTV.4\SU-MWM/8N
M3M)M-I8)K/&NPU73(M%CMC0L0>H;42\L8W=>X)?;]\DH&]/ZBT:RD;=8NLRL
MM**H.*(\1<*.(PE>6:F(D@S+R<P<<Y-SGO)M36SI]79G=P^E2QPS^9=#DNO@
ME>U=BY#2M?N:PZ,>G847A/0MCPOD5JHTL]OR.R8%W;!WS%M]17V+9.E?;D&!
MC['VQ:;_`"57L"3J06!Y$J0T>0#)`0`Z!QE2U6E;HIP[3J?+M/&+D\*+`^OO
MG)4$+UXB[_K"D`:TN7VN)X8>$3:KOG+V?0:F4@?DVK?]<N^)*`D*(=0%3CD!
M#+SQSYO/-".[!<X>C/-<6D^OEMA>+:$U`-4)F&K(Q)=8V5*XI.SH&23^2+,F
M;E?D`0+[W8!OHRJ>HL6Y<%R<8RW,VV+.DG;XK\DKE7@:YW)KB8I$:UUDAIB9
M7TTR\BMXLJBB%!V;M^D42+&MP):2K&ZMK$S$'LS><?J20QJBRXM8M0JW3DY>
M+])KM'"[65V"5-_47+3\O:7U)/I93^.WC([V*?1U7W1IZW2M*I&B]^Q:\9:(
MF<KL+!6%UL1-Q2&:\,$L_7B)1Q6E%3L4%W"RR3<PAT$.,WRYEH.%TOV^TGTO
M+]DXUKO++!:A<,88"^1?C-N_=,W8]`ZNJNAHJM(6E-]`SE=<S19&L2-G15*]
MU?9OFF[!=29=![?RB/NF'_5-XWJ]+]\>TLERVPL8THLZ[/;I-ZZ]\>G&RMZF
M;;FT99;%3$_('<\_)1]R:F=03.+E]&:]A(>5D54TD65JKDK,M'J#5<_<'WBF
M<>._KE\)PN+B@TX[T5STFAC6/%%2ZS4LAKAK5M:0=?W[I6W;+KD%ICR3I^L:
MFE'N).3H`ALJ?&I6R;A5Y%HXJ=?6J)V[9*QG'M10]M(#%[P`9,VHM:6W%>1)
M.=<:;C[`^'2+QKXC>.K=VW^4?MM*T=%PU456<F;ND8!N11%5RFNX<O#IJE$#
MK`<RBP@)_P`XV#*DFTGE4^8F]/'%Q.[FW7`H:#EI%39?F!XE;7=6-&C)KQ-F
MUK7GFO2WEZ^LC(GR\@E$S48Y<OFZH_,(I)&4.`E]6&P]%:;E]/JG'BZR3MOQ
MPVBVLMQ/!:YM<3IZM>75CNZ-6KNO*9L=@>JV#4];BF-RK&HK2!*[9Z^QMZ3A
M9P@!!>(+E441+W&#):5>@A:?0."K*/'3?A7L/H9X'4.P431IHZ:K]VK)9.Y6
MB:AZ_>8VM04G$PKM]VL$&59JJJT75HIR0@K(Q_<"B`'X,`9!1J;6FMT]/)/>
M=I>TI_,-^+!E*IL0Q>_N*(<]O'/T\=V`56`,`8`P"6L`BF8``1$0Z`'VA@%,
MV43*!RB<H"!NH"/`AT^K`,>L'`Q[@.@E.NU*(>H&*9Z@`A]@A@&3-OS!'Z3=
MIS?A,8I1,8?PB.`3C>@?I$_KEP"QLO\`Q:4_1+^3`*J)_P`"T_1/_6'`+I@#
M`&`,`8`P!@#`&`,`8!X(<_Z?](<8!\[=R?N_:#N&5V1(3U[N,>KL7;.L]JOR
MQ:4<D,6MKRNM:D]JL:X$H.BUR]5DBS.73,?E9-<>/S0YZ43U;%R2LQ22P6_Y
M%'>/`J+L\_8+/!['=1LO.[REMW@G8Z#3+]"Q[^>UO$:WD8)*OV1!2*50;,(=
M-S'N?;*HQ6`."G[>X<FK]=%1]"Z/'B_0B<M%11UL8\*RQ[<>SQ,@TWX00&GK
M#6K*ALFZ6Z1KKG=3I12S(PON2RF['E.?S'SWW6T8,TP@7%1*9B5%!,A!7_-#
ML^+*OSM/W,HE/DK;I"*]_P`C5JO[M2!30:,8C>6PX)@KK)IJNQ"VK]$E9N3@
M6DG9I)-S`66R0<U+T5X<;0NDK]V'2(Z2`H.`5$B0IO\`^O?<_;WD>9R;_;A_
MS?(YSWMXC;ZFIFXZ<UDROB%&O51UE`R%Y@+Q1XFCV9W0F$;`R%KVU#.8TMEA
MK"U8LB%+'0?ZJ:#D7)@]0]&WYKMKSL;M%Q=>T]"U*UY<7;5+=,.K.B>U'9Z_
M@C".]A#;T]MWN%JKVX5[9$_K.OQ=,0K,QL&%29)O9AG-.8)U:8>'F`9$!=BW
M=%*<Y"G$XB4`#MJAY^KGQ\.])]>>%>FAL2J>)%3JJ-"(C;;0]5U]MG9&X8DS
MD6JB:U@V1^TXO8]T#@'+E:(B!M"GRQ%%5#\HD$PB/.08S72W@)4&3)=2F[9V
ME1+6M8]E3BEOA'$$[=O66U)]Q/6:!E8F9C'\2]8D77X:JE(DX;F*!BG`/@P#
M/HCPVUW")61)M:+\[_:G2ZFBY1Q,3:,J^-5%GSZ27F/GG3472EJ4>2"IBKG,
M+=(#B":)0XX`R74WC-7=,W1Y;:=<[I\G)4"G4.1J$DYC75<>#1HI"&@[0J0&
M*;XMA!BCVJG*J"9^[\WZP,7\L]&VK?#S1;.L3$W64*-MLMRG;/6YI.#LE=19
MUF58QS^(<+-79%S`_>)B<@EX4(`D'CNY`JMX9E^FDHWDY?MH_@RT+^#VJ92J
MQ-6LLO=[($:ZOS][89B;(>W6N5V#%*0LU-6V?;MD'4J_0:B460A[8-@(4H`8
M`SM1WGI*Z]E-G\$8>U_=UZI(X2DI?9&[[1.DI:>O!G+#>2N7*=+;SU<L3"`8
ML&<<QAXQM'2%;1.D=%N583F$QS''U^?E%<3ZV1YT]J5?>;1O/A[K.]V&]W!Q
M.[!K-POD;KU@XL]+M;NNR\"KK`[Q2JR,(NU()3.2J/3F<INP<MUQZBF'(\Q1
M$>9-*B2]YL/1N@Z/H*"F8>H*STJ_M-B?W"Y6RURRDW:KE;)0A$Y"Q6&2.1%-
M>1=$(`&]I)),`#H7-.C7];W,HU4W*W395%HW1XT4/>$Q7K'.S>P:=9JXP?P:
M%FUA<Y.B6&1JLLLDXEJC+2\0)7;NOR+E`BAT>XHE,7DHAR.>J>>6V%\2=,5H
MDPVK</(04=,Z;8Z(<Q,=(&3CT]?,9"8EOED4E"*'+*.I*>=JJN>[O.*H\^HX
M!OFKUJ+I]9@JC"D62A*W#L(*)165]U9",C6J;-H@9;@HG,FBD`=W`#@&@T_$
MK4*&R[!M9LA9&MBM%^J.SI9BA8Y$M>/=J<P-&L9QO$"J*2#F2:%2![P/"XHE
M'@.N<RT\=2N"62Q]NT(MTMX<:3FV,VU>QLXU>3^PIK:CB>@++/5NR0][LC%*
M.L,[6)Z$DF<G#JR[1`J:J8J+)^V':`!ZA7^*M)UW$T9N/5.I:+I6G,:+KZ,=
M1L`P=2+Y,LC+2<_)+OI=S\Y*/7DQ-.GTFZ<R#L/<5$ZHE,?J`!EQ!KS;7BGI
M3=ED:VV^5R0<SB46U@Y!U$6*<@26."9.SO6D#9T(E\U0G(1%PJ8WRRQ3$-W"
M!N2B)<`M3SPU\=WEX;WXU'<-Y1%U%22L.QLMC84Q[-08-PAIY_26DDC5WTO&
M`U3!%55J<"@0/AYZX!F;;QWU,S91,:UJR"3&#V3+;?C2B[D%'#?8T\[?/)JP
M^^H[,!S2"TDN8R(E%(HJ#V@!0`N`:^;>%/CRUB74*6G.7,:X3N34C.2L%@E4
M&K"_2#.2L[-I]XR;A5JB^<L4Q`B9B(IB')4PP#.[+XUZ3N)+26S4**E#W6IU
MZBV911Q)D-*U2GK&<U.-4'Y\QFZE?<B"J"Z`I*E6#OYYP#!$/"CQL95YY6FF
MMV;5C)VF/NLD[82U@C)Q];HZ+"&0LSBPL)9O.&FONX3(BH#@""F/:)!S!KM!
M'7J*DJ\+??3P-FDDXN5-R*N`\-?&RJQC.&K&JX.OQ[&V)7MLG%N)=JL%R2:#
M'&L3AV23^:>R#J,.=!P98ZGOD./?SF2QR2%B]&]3&,D^PTWKDG:DL,B?8/#C
MQNM$92XB<U'3I-CKQB$34$G+)ZD>*@Q<KNE*^LYCY%B[F:V=1P<PQK\[I@H<
M0,HD<2EX]H\HV!)Z(U3,,[]'R-.C'+'9D3#0-R:B+E)&6A:[&HQD''*I-W"*
M2;:-;H%!,J92%`H```'&`;3:M@:)(HI=B:#5`K=J@0J@(H)H=Z;,I2*+*#P@
MU/[9@Y#O``'IZ8!I&)\9=%0>QUMN1>L*<PV,YD'$LO:&D05%W][._P#%S+9I
M[QXQE./P$4W+Y)$KM=``(=0>!$0-J52H5BBPY:]3X*-KD"D\D'Z$5%-_EVR3
MN6>+2,DOV]YNY5Y(.%%3#T#N./3`,9O&AM4;,DF,[?*3`6F98PS^OMG\PP*Y
M4+!2IA.^BE"@=,BS17O'@I@'@>OK@%=+:5UC83/U+%1ZG-J2E;3IL@>0@&*X
MNJBW=KO&M<4]TJAONMLNOWE3`0`%0[PX$>,`IM>:CUOJ./=P^LZ36:1&OG8O
M))K6XE&.^\W94Q1(\DW)#'>R;M-("D(9PJJ":90*4`X`0`R^PU"MWB"?5RVP
MD39*])@",G"3D>WE(U\B0.XA5&KH#H@8AS<@;CN`0#`-?5;1NI:35I>C5C7-
M)AZ=.KOE9JMLJXQ3BI?YM,40-+-SE4^\%DT!%,3J"/*?0H%]<`JZIIO5=(@6
MM6JNO*;7ZZSED9]K#0M?81K%">11]DLTF1`GN&E"]Y^U<YCJD*8"@;X0'`,@
M<4&BN$'K?]EJXZ3D+"WMCM![&(N4G%C;*)JI3;@JH*$6D$#I%,F<2\D.`#F7
M6:9:NSY+5<4^P>>]-_475VFC=,>)6J-,-UWL;`P,[>G;ZXN'^R9&JUY*[RD?
M<[`^L3Z'E)ABT;.G4>5T^,D8.X!50*!!$`$<\E<@BLT2^<R;]O$V!7-!:3JK
M9TU@M2:UB$GQY!1X6*ID(P!RI,(F;3)U#I-17XE&QQ(L0#^V8/4H\9]`04>R
M-.I6ZHVB!I%B/J"S6*NLZLAL.DUZ#&UP<*P5:BTCHUR]1'ADDU242*D8W87W
MA,4"B'`^7J\+WN1*,NU?KZ`U10:AKN!<.20]0K\=`,S2:Q%WST&)#>[*OEB$
M1*XEY5PH99RIVA[BAA'@,G1_ZO\`POXH,FW776N]AEC4+Y2ZW=4H5T9[$-[/
M7F=A)&OEB)I'D(]A)-72"!Q2*!3+DX[1#@>O7/3I7#>0W15W%I6U!K!R6-3=
MZ\H<BC$.W;^+;R5,KKQO$OY)VD[E9*&2.P`(R1DCH)BJHGT,=),W'PB!JERJ
MRE0K?.F]LC8Z"?LHII=YE1(7M%50``Z@AT[S@3M*!A#U[>`^H`RR-E6%Y4<E
M^IVK_J%YRR9CK77E$">D[(G2ZDC.RJC=S)S*5:A`EY%PU[?87?R8L1>.54!*
M'8)C_"`?2/7))+Q9H5G88&;K#WWDV$W'/XMX=JX79N2M9-FJT="V<LU&[EHX
M]I<PD52.11,_!BB!@`<XN0\RW*W]T6NU4.[<_+N1N+.,D^QU.4-.>&]-T]<G
M%_+L':.R;0%64I,(\V?86UB3K%97=`Y>-85-M'1R@2$F8`%V\6.JNY,4HG$0
M#M'PER*$<5%U/:N<[N75PR?TU3['7XHZ/CJ+4X>.=PT;7:\PBG[E9X_CX^`B
MXYD\=+*>Z9VZ9L&S=FZ>&4ZG653.<QNO(#GKZ?E=N-B,&EEEVE/Y*;GYG$^-
M=+?NJVVET)KIJ5_[.1'8Y1+'11$7C@7SM/[I8B5U)"JDJ=^X(*?M+.5A3X.<
MQ?<#H)3%$.1M?++31EU-UZM1;;DX5I5MT717J.3JAX<:[IVU"[,4MVT[6K!3
MSZR42HW&]OI^GTR?EV[EG,RD3'O$2R;U]\LZ,5`'SEZBQ+P#8$AZY,>50MKS
ME7Z<3'_[4[7_`/2N+_5^C/.OQ.U@,<&Z':<Q/SAY)V\\AV\<]Q3@)>!'D..N
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M>44Q)VI?#\(=H!VAGG_A(M4DL.I'<.8\WA-S^J,VL75U?7O]Y<"L03;`513W
M!*B5+N`@!R3M$`,8IQ5(HH4ZAC!W`)``W';GL6X>7;C;^U)=BH5.4I/BG^]X
MOK>9*2CDU4S%$4^P0*D<ORZ90]LAN\@I>WV"@IW\&'@1()NH%#.R"-P5`_L@
MJ`]S90HH*B<`4]T!X$!'L[?^)_--P`=##Z9$K2O+RWD_TQ(=WR5YF[]</U)`
MF;N@*J4W?SV*$,18%"]AR*%`IC$.9)0ITU3<"7CH/J/&</E<-K=:E7Y6$5PK
M)K=[;CT$D`[2EY12)V@D`&']284_E^XA@$!,H<@@`"?NX'KC\9"F#8_*P>=:
M]7OH4@?)OP]]LJS=E*H9NHNB<CE,5&9UB';BJFL)O<;._P`\!$#`<@@(!STH
MN\IY<Y5U27F46>=-GZLNAS'7R7_B*MI-]K5'T941,^42$.U0`43,42J)F+P0
M>2\#[9"F*5/DW7KW"'T"'KD6^5<LXO\`QTE<_3:)<PU]I<6HCPV]K6==F).!
M,@(^P`C[11'VR"1,Q"$X``3[.`!0A>/];D>OKFC\7;I2N!3^6CQ.>/&]M,?B
M0NY!A%MS/I-^VC6;?M%1X\<$:M$Q-\!`<+*'33*F<QN.#&`!-Q].6%QX>7BA
M56;)2*"SA-N@I["3SW'!47RQ4&RRQ"*F53(LX,!4U!+QP/3G.7H%J'YON[%7
MX$IO83>PI`$$#G;&,H=4YR#[O>JI_:B)5S*$`IS<#P`<AQT'.%RNTL4V3B>E
M*3@0-U$PB8QDSJ("<X]3&,"2@%'N'U#C(_%6B'58T)3AP1%%19PHFF@0AU'`
MG5(@D)"D$5!45<JB5%N0@"8W'`@!>>>.0SM<K@\$WCUF=<TM[,UU+V9314I#
M6&,92\*_;RT+(HD<1T@Q??,Q[IKR)2N&:[1;VE4S"4>#`8>>,[\CTW]%YK]<
M2V%Y7X^:LF::VSXQZ#WDZB7VU:%"7%_"M%XYF^D#2C=ZK%.%RNEH21=1LFQ5
ME8%PX(4RK-R*J*IB%$0Y#G!T;JC(UA$1["(C44D8R-:MV#)`A0*FDS;)E101
MX#H()I$`HCQUXP"\&.!#=YW)0*/)2D)[8@4/^K\'("`=.>1Z8!)%4.TY""!@
M,8#%5$"B?IQUY$HE$Y1#H(AT^H<`JFZ@GY`>HE`.3CQW&ZCZB4I0_$&`5.`,
M`8`P!@#`(3F["";CGCZ.>/\`3UP"W(-N\53]_'<<.G;SQT^ON#G`+)/!Q'JA
M]3AF'XGJ&`9,V_,#]$G]0,`G&]`_2)_7+@%C9?\`BTI^B7\F`543_@6GZ)_Z
MPX!=,`8`P!@#`&`,`8`P!@#`/.0#_P!OJP#AJ[^2.SG^V[YK#1&E4-JCJ1E%
MO=GV&9N:='C&4K88LTQ7J?5_>92"]@L"[!,%71^4FC9-0@"!C#P+$[4YI43=
M"\M_,75$)K#7&QMMO%=+/MDMG)HRD7MF_3L[5Q&OQCI07[!FV%1FT:N.WEPH
M0C8J9R&,H'?EUG07N82X;5R5M1S:E3/+;CE[BNY&-Y?U4I4RKB5MW\U/%G7,
MFVB+MN.J0SMW!P]G$BBZQDFM9L'S/W/8'CQLDX1;0SX6:O8X,J5/X!Y$`]>U
MR#7RBWZBXJ9?7G[=-"IZ32MXV[?_`"HDF\VO%1.IV"[NMM032O5:P1-5GG[D
MLH@6/GI]X:/KS`[0Z173@9UX44VBJ)%$7!BF[#CVB(2_[?URFDM1-K?YC(6C
MTG^U;[`Z\T/&!E0VFTW.V(52IJ33BOMB-VKMW.!.-4'#EVR_9Q%L>S`H@S:J
M+&(=J!BHE$X_#P(T3MRL3=F4G*4'2N=:;:FF$I0AY<&XVTJ465-Q2V3SI\8:
MQ7:O:W>RH\T/;DYIQ6Q9Q<[*+2R%9=,V-D(5A'1K]XT5@5Y)'YA)0B:B?<`B
M7@!SEMO,ARE+&3JS.4?)G2BT599%*\L7497*-$;%E)=%O(D9DI-D!4(&8:O>
M"$5/(>V8J?L\J>X'':4P@`P0:F=^9=)UU%R4]O%-]28^4N=I8ZT;0D':K5/6
MG6==CXJ43V"\KT5%R\BQATV$C[CMXJFD"9?S@Z#@'1\AMG7;36JFVSVZ(+KD
MD&ULREJ,X7*Q+`.TTW";PH(-U'@N%VQ_U*()>XJJ)2`7D<`T;7_-+1%EJ;F[
MM9VRQL1$ST56IQE9*G8ZW/P*-FD1CJ]8[#7I=G%R,=7)5XB!&\D")D>3\"8.
MN`4-A\O]?M+Q%Q3:=@$ZBQ?;'A;=.R25B(X&8UK%MYR38U5[&Q\C`339JV<<
MF,9P"BZB?MIE$1Z%F<7%=E"EAM7-ZP?3W&G-D_O&->P.LI"^:XK]\M\S&W[7
M%+D*G.:ZN]=G3,=ESL='1EJ8,',*=668),'8*-!;F,FZ.`D'M$!SKB=.DR>3
MS)*D;D^U^WZ&<2'FW0:(<S:]NY^=F)G8=^JM.KNNJ#<)F:>-*-'L7[ID^B3L
MU)$)MM'R!';D#"5%-,>IN@AE?E6LW"->H>3S)?\`<GVLO=D\Z](UFF4*X-5+
MY=HW8<"\MT.G2Z-,V"=BJ-%.3M;%<[I$H-FBE7A(%T0Z*IU2@M[B8@0IQYXY
M=FU]L>PUV'J;<.&]*3G7?L-V1WD'KEYHAGY%HR+P^M']-0OC=V,$_=3*L`MT
M)\O",$#R*[ER)B`DF"9E!$?3ZIC;MQ=8I)EKG*6#;:.<D/WB.DDXJX2]C@-O
M4#]C8RI3<E`WC6T_$V-[`7>VQ5+KEAKD>DV?FF(YW,S**0D*(KE.H7N3*'(Y
MV<EW0\^=/KU^QNY.L;=K%QJUIK=-6U!.:\E&NXYN>O3627HB5?IH.TUI,MC8
MQ;MRD(']LJ;8QE!3[><`NGBGY'3V^T?(&6D8M\QC]9;?GJ!7XJ0@'-:LJ3.!
M@(Z36:6&$?+*+-9DKMW[!R]XE,<0$/A'G)1CO6-5<N.5J34:*BJ\\:FDO#_S
M&O>X).5-M&&L[)I?]C[1@=2PZ6KI"LH5FNZP4>IR3>P61:PR)K-*N56*A#+)
M)-T$G!`1`!`X#A2:Q6!.GLZNU*M^3<*;7M*^*\\_VEW73X6EZ_N<]IZQZ.V'
MM-]9E*XJTDFLEK^Q+U]\4ZK^<38MH\%&IB'232'M6,`<CZY/'/>S95F]+IYE
M:]J-)1O*T!:I")7TZRW408J.;K.D:U(2L/$-60MW#UD5U)J+S21@)W`/8`CQ
MTZ<D&L9_SY@*NG&+6'2.[HI1*NK7*WL%HF"3<Z\K!57HH6*RBYM"7SJ#]FS.
MN1HW!P)$`$W`B42X!TCL7?M-U_JF,VX8)>SUV?+6AIS2KLR/[#:7UP$A(&(B
MHTPIMGSUZHH4H`<Z9"<B)C!QS@'-\CYWQ4+6YE6<TGNR-OL7<:I2C:F<1\&%
MZ5?7]-R-*<H'83+V&^ZK"]9+I?.?-]C7VE`.).S".9)N+4?W-8$Z1\\*S&P2
M*(:XV(WVBO:W]#4T[,KU:'M\/(PD:VDI.=DY&>G6-1"`;,'[94'(R0_,^^4J
M8'-R`=56XP+3:_;*7:SV/\Z8&U26NH6AZWV%=IR]PMIDY2.BE*ZU2H"])FH^
M!M2%H5=R[,XN&#M^/M-VJBYG12D,EW=Y1R*]`]+KW_-*M-[S[.XL3GSEEE9&
M;J+?2E^J]CE:7L^<U2XM\K23#<9*@0,S+H-GT"C9%YVNN)=&*]U!)TF0JB(@
M;N`PB&76;MFVZW<%A\R8Z?F,?VSDO>S4-"\\[:U84ZS[5K%U;VZ\Z3UQ9*[H
MFN1M;D5K-;+C<I"N1SRNST:^D)%%Q85'"!#M77RY&)"`<XE+FFYJ])*$H02X
MGEX9D^1S)YW)OWLWL_\`.D]?3<PECT=LB-VJTV?5-8.=4G>5AQ)%<7M!\XJ-
MIBK.G()0,W4I,(Y8@.4P[P5*)#=2YA3Z"/3:Y+&4NUEO>^>T6E7XY8VL[7&W
MIYLNY:GE*1/6.G5@L':M>-R/IUNYMTU,M*FZ-+,G"!F"22B*CD5@*4W<!@"*
M]!'I==3]TJ];]L>XWGL;;UQ:>--LW)3JA*Q=T0U#8[K7J79G,6$C%S\;#/)%
MLQFBLGR\*X3CW""9W!D5G!%&YNX![1#NFM<D'I=<\%*7;D<EL/+#<]=N$S89
M?7UFN-;:>,NDMQS]986^HM&5/;6%S?D[5.,UB-C!)R<@A%).BL04$!;I`4#E
M$H!DVY0C-.Y^S;M'I=>G7BE3K?@;:GO-92'LNW&B&J9V9J&I$Z8@%LC[3$)N
M;3;=H0D'+:YIT'5G3AO(.7\RI8D47*JJIFK4PE'T]-"OZ.BJU6F."^/\'O)]
M-KMDGVLNKGR]MM:D_P!D+[IN>I]V1G]7QZD*6V05CB7=<V/8EZNE8X2RQQBE
ME5H:92]ATW]GE-0!*/3XLGSM"W7]%\-W?TCTVN^Y]K*VY>6L]`6RS:YJVLIZ
M^7R-V3!ZYK4,VL$9"-Y]21I#6Y2MAF9)XW4_9R&AXDQU>\$U#K*`(%+TPKVB
MKLKU5IC7^-=@]-KJ?N?:SG&0\N=T7>[Z!<4F@2L%)&W)O[5.RM1R%^@VB,NY
MUI3D7(OI>S'C5D4HV/ES^ZW.U1!140*`F,!QR+E_2RM2A:2XVU3!>_I.[6GU
M<+BG=E)VUFJMG=VL-YJ7_2?^:[:K2;9\DSL2DG4GTC$L7K&<K3ETUE:Z256.
MC$"=N_:G126.)2J$`IC"&9#:<407[Q9Z\E;C!2E$JLM-1E*FKS3H_6NTX:^E
M?';6:.IC"GV]S#M3HQD^>9ETP5!NJN5$Q1$P``<AL\[184HI4QP7=LK^AY[T
MVM;KQ.E7M9:TO);R!J6]=GM]ATEZREV=#U!7*3J>"O*<_1I6V[!NTI$H60\P
M=FB6`7:(,C)/@4*"O:B(\F`P98]3H.%*D>NBK[=U#E:77UKQRIULI&NW=XAM
M:]1NPOOVNS#;<7CQ5HRE5W8CQ*D-5;-3I"4=.8R62K;ETM49]=BHH\:&2`S@
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MBV-&L&)E53\<"8/3B=SETY5<8_\`*JY4^?7D3Z;74_=+#I?MT&#:I\M[9ON]
M:&?R#R+BS1'D!L?3EO:T2:GG6L]CKI:6E;O6++!*V!E`RR\4NBHW4192C0'+
M1\F?M$.O,QN<M@FH0AQ/;15+;%G56[G%>DW"F56;E\F=T36F]UNK#6Z1.7ZR
MPOC!?[?&P[>T6`D=((1VQ:I&&9)42%C9!:><MVTB9P9VW(J[2;]Z:9?B#DM1
MI';4)**=5BDJY>)K:K5)9HYUD?WA6WD]*!L"!AM(V]=OL]>@VC8%5G=BV&@4
MZNGAW,@I=;C48^K(;1HA8"52+'+MWL>!N]3W3J%`G!K5J]%Q5JZ)K##WUWU_
M@>1^.OTI15]_M[8F^M.^9EHV(I3FLI%Z[<*VC36U-G!*:SNKR[5H\EKVX0\!
M'1:3]U&1;Z//,H2:)UV+I%-TQ,L*2OQ%$P\2U&B?2^E+VZ?<6QT>LBN&,FHK
M<V<\7#]XGM^*H&K[]76.FF#RUZ=K.U+#1Y62V-<K'(NYDIU5:Q7V=#K\L>NL
M6T=%K*MY>8,U;/553`/;V`(SY_+]R[L/;IJ2]+K_`+GVLS.6\TO(N07O.QZC
M7-1_Y+ZXB=)3UE:V60MJE^?-MLUJ-F99"'+`D/!L&=32<F.55T=51RH'9R0#
M"`%J.7I4I\/;]`]+K_N?:S9L'Y2[TM#^T;/JU4U:^\;:C>+71),DA<G[3;IV
M-$9G&;MR1A0<55*2<OR>VV@U0!\X)P8IC"8`R7JM&XXM<7=U4JL-V)PM%JZY
MNG6:7T!Y][IVEN2F04_K-XXUGM.7.SKCRMZMW+".M>E=13F9@9"SWBWPJ-0N
ML7(LVWLO_D2H$C7:Y"\`5(Q\E:O1TSQ]WLGTY[ZD^CUJPXG3K9TEM[=F]G>[
M9;3NA6^O8Z2I>M66UK>^VFA.K,9:*?NGK-K7(!.%<M'+%=R>+7!5^<P(-.Y,
M>O<(9YG,=56W;CII-33E6F%5LK3<>KRO3W+;N>H;<7PI8[:OVH<Z:.L&P]_^
M8D5M:=?Q3"HM-"5JWU^D-IVTR1JVN6QVRJS1FZL5/IUR6D)"Q,4E2N5VATUF
M"8%.`B7,&FUNI\V$)W)NQQ*JJZ-;:HNUO*N7R@[T;%KU:_;/A7%&6::>QX;,
M=QO&W[H\G9O<.T:YIM73<?2-"'I<3=8O9[V61F;D]L+5K)R3F+GF+UNRI;)H
MQ?#[;IV10JYTP*3CL,&>_P"?H,I)<56\$E3<J='O/&]-K\U-TIO;J:P<>77D
M-'PZ._91CJ8/'LVYD-4+4AD2R.-J)-%+,6DIV)&T).2UYY)_M$7YK[L*@"IX
M\0-W<".=^JT5,*T[NSY'2M<R7TJY.FZK,7K^_O.FW+Z*<L;=H2%C_(>4V%7J
M^@6HV:9=5`*3'S,LTL#]5&P-6DK(2#:&%)PQ+\"!E0,!AYR5JM"\%%,Z7)>:
M:^,KJU-RVK5*T;QKV+"FTE._*'RTMT=&I4V=U=6)*L>.5VW)?9":JT].LYZR
MZYO]FJCNNP\<VDD%H2&LS6",99P=915@H)2@8PE')];HMD5[>\MG_;'.-%'U
M,M9=DH;')X]_3L*-SYF>2VL:DM<[^?6]R)L;QA?>05"K<+`3M;AJ))(2-9C$
MJU,7%:6DG-@ATRV`JKMYPFNV*4!*F<#9$M7HI--U37?^G<4>3S)_]V3?6\#W
M:?E+Y:Z0B]A4*S7K55RV/_EOJ;:>L[VUJ+^OU9NQN^WHC65@@;A6QFQ448Q;
MB6!PU>H&(=RU*!@+P(AG/J=!6O"EWG/IM>_YV_>SK[Q6V3O)]?=[:5WM::E>
M+5J>7UR\A+M2H%Q5FLO6-DT]I8$&LO7UY*2.B_@Y$54`<`)2N$A(80`<XG?T
M3_8DNBB]W4/3:W^:<J=;.*6'E-Y13FR;O1;_`'"'UW&[`0W=5=8L)#5#U>GM
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M%V1NVWG3GXR,?3?D"K_F-*)2S'5TRZ6/'Q-;IS]P0[H#)J/I%HLG\MV`!CYQ
MJ-3R_4OBNPA.XE1.2K1=OLRRUH]=9BU;G*,:UHFT;?\`-/<^Y*AL&OT345[N
MM<6'7,W=K!%:WTU"[0GV1F,HH@PF9Z<M<I%UNKU==1+V#D6.5<Q1$2@''.5V
M)\LL/B4(>9OHLCNYI]?>7#.<G#<VV<QUCR4\N-SUUG=J[N.M:U&J>)ZN\9VO
M1U+AK.TNUKAKG;X+VE73U=PW@(-\VKY`<G:JF2%;W"$#@@CFGUNAI2B?MUF?
M\;J%M)6[=J[HWMJ/:]S4W)$46CUN)\?XW_)9U`0(LKRG<S5&SRT^-QD#-[-%
MNK"K)_+,2E`$TP;G*'<!A$*UJ]!%TX8O&N*6'N]NTN])KLU.2][,]G+M;%=I
MO+%1K:WUJMOW><+X\06TON^*L3JLTC2]/=2TLU@FTX56O$GK#<2&CFY7)%4A
M40$2AQURU<PTD8\,$E%5PR56J8^X+2:ZM'<E3K93M-Q>2^P=A:WT96_)-*"6
M8[LVGKNQ;G94FIOW6V*]0:Q"W>/0C(4Q1KB%A:?-KQCQ:)`A%@*8P]2%`>/6
MZ'-1B^BBI[>R-%BSJ[<^*])N%*9OW'37F=M.ZU&5T[K6C;*N=/L%]<V=Q(QF
MMJU5IO8ULBJO"-'#O[HG[\X1J%`8M5G`*NGKDIC<B)2%$.<YAJ]*FY32>Y45
M%[>!JDVTTMQQ/6_(+=.XZVE1I[R4_P`I%Z;J/;-Q>WB?B]6OAV_)PULLM-CX
M>R.6YW-&5A*U6H<KF8"$3366,^26('J4;%K]'%U@HUJO=CL/'7+;[S>SV^9B
M.NMY;RU1HS0NJJA8E5U/)CQ[UA5?&=TP!!%A5=I-98U>O'RCM<B;I5NE5WQ;
M,1=<3)B1HJ7M[."XEK=%.7'.,7)[6L]AJL?VQS'5VW>LZJY:MY<*;25-W2\_
M>7ZU>3NX*SM6MVMMOG8-AI[7R,K>B9:,?-=.T;6TD@C+0->MD<TH#X\EM:8G
M%2K*.!E06(D"PF4;=B/PCRM9H*?LA3J1>_[-YPW_`/FWLON?C\S)*%MOR0A:
M)IO=[[R!M^QE]B7;R`I$UJJ6BZVSIH)4B)W0]J:==5C(9K8EY&.L%/8H*C\X
MZ<O6O`@`"<"`]7H7AP0X>KV^)6_[2YK9;N2UMY\"XG6;=5U5KC2F6\LTUY`;
M,U?I%._U3RSEMLW[8NG:Q=9JFSL-"RI-2OIRWTJ`LE^B9.'KZC.E5^D,9%Z@
M$98B@FY<<JFY42,&1ZO02SC!*NQ++I]O?F4>EUVR<NUE5,[9\D:15[9K_P#]
M1"$Q$1FRM8H5^>LF\]6K;GDX";0GOV@I!]GP%/0UY5E[&#)%6(=3)1=JB(@9
M4G)>9>KY?Q<7#'L5.P>DU]/WR[6?2GPLV'*WS4K]2:N%SNDU6;I9*Q(3%X0K
MBDRF9@Z*=&.+8Z80M3N#1@FI[9)%F)@6X^+KF747=/=:=A);Z&C3VK]JOG2;
MW5=3KOW5/YYOQYG-15-CF-W]QA'CMXY^CGNP"JP!@#`&`2E_[(_V?E#`)37\
MPWZ7Y`P#'[$F<D8Z5.':FDHW64.(AP5))VBHH<>O/!2%$<`R)MU3#["!_"!"
M\_QX!/-Z#]G/XNH?B'`+"PZR#X?I%$HB/TB/>8.1'Z1X#`*N)_P+3]$_]8<`
MNF`,`8`P!@#`&`,`8`P!@$A=3VP*/'//<'K^#`/GE8(3R!T5N/<]QT_J",WA
M3]YO*G8UH\;W"4.2HVPX6N(5:4<3BUC;'2DZM8H]HV.51H*JK8Y#`"9N<FAM
MM::U<@I3FXR>RE>S$TS(ZF\OJK>8+;L[1]<^25XMVB9'5^QXI>;@J)%5.<>7
M.3L\$6.D)M%8EBURTCIU6.E!3;(.W@,DE$RB(]I:KMN_*CLW';IG15KUXK([
MCI=.V_ZCZ,/CN?1F:Q0\)=V0^I-[ZY<1-6MLM;O$;6VCZ)-.9-!^D\LL=(WF
M1LT6G]Z%2<L:Y&DER(-0,`&412*(\>@4^1K4O_R9?\J\2+FELPMN4;C<DLJ4
M+EYLZ[V/2*G^U05JMOFTG.^#-3K<>]D&R+64O5)V),_?4.[.Q9KFC(5HUF2"
MU="@MPH!^0`HY'DZS9J)]B\3`7"X:$\N;':K-M,E0:58]\V2S/9M3:SVK'U:
MPL:M"4)>AQ-N2VXC7T0C)V1D7"JDLE'E27=,"IIB8``>:):O46WP."FXX<5:
M-]+5,*]9OMZ6Q.*<KC4FMW16F>/MM+WXN^)FZ]=RL3*7RKU5@$&]\FOE00N3
MJXN19;@E:Y(5Y52QRJ;1U*314HM1N[=G3[CIJB;@H@`#ITUZY>4G.*C1[ZU*
M-1:MVN'RY<55NI0TM8-%6N,LO@OXU!.0AM@EJ"U2W[2(L%G,,]U'KR<:;%8S
MRRY.X638)Z.:1[59<XF<@LH!`'C@=)G.XO,SQVN.X'VO92C5:O6AW5U+#'"Z
M"[6+5&P*LI.,31ZDW4+[!+&8.46Y4T@<Q3YJX1<-TNA#<\8!?K-XZ7R]>'@Z
M`NNPVTML4U29M)&WIKK1S5S8(ETC)0B#E_`-8)P$:5-N5LZ733165;]RH$*8
MW8`'+=4\,=N-X3:94:3KO7T]M6HU74MBFY7;6PMS3AJ:^DG[J[6)*5OBTJR(
M@W(Y[J_&J-#?+.#`<52!TS)J=1<LR4814DUOI0TV+5JY%N<G&2RHJUP+C%>$
M>XZY2-7:OB9G6=HK^B%=CPE%M&PXA26=6&FVNDS,'"*7FK-X]*+6GVDI(@@^
M>)*&6<->3D]HY2B&&]S+46K;N1M)TZ7M]QLL6+%B<;DIMO=3;3>G_$P2N>#7
MD!'TF[QC!6H4E--33SNOZJ5VSL+85"<6+7EV96V5G&\G;6IW%*1L#-J1NQ8-
MBND61%.!'H'./\[JT_\`\=?\WZT-KOZ:BDZMXTP.KH/QOVBANZF[8D)2C-6T
M-MG;=WEX9E\X9T6.V11X>!9PS)^4K85I6/D(D`6Y`$%D%!,(\AVCZ4=?J'CY
M4>U^!P[VG5OAJW].['K.+=F)W[PP>:X>,K5#L[+*ZOV#0[-*V&D;!OFL'32>
MV=-3M/3K1:)"2,BEL9@ZLQ$$(E\06\PBB8I#%%(1-MT]V=ZWQ3CPR3IG4HNV
M+6IGYG'PJB5*8[\:OI.TZ/J3:EG_`'?E3U2SLA:!M.4TO$5[]H7$>LU&'ERD
M!T9PYCD^UU%@NCW%$A.%404Y#XB\97K;\]+IO/MQ4YU2I6G?0IAH[#OJU*<N
M'>DO=15QZ3C^K?NZ=O\`WK8YIS+:BI*-IIVMZL\AJQ);.N3QPZH>VJALM]9)
M.QW64<.I9U9F]953,FDE'D054*4O(!U\7\WJFO\`0C_S/P-<N6:*$FG>N8;>
M!4_^KJ[:Y5.H=I>(^S+1OVW^1=1N--B[8R=:B?:M@95C/N8ENXU_`;&JUD87
M!NV7;I@%IKVR%T$G37N79"W(HGSR(!'YW4_["_YGX&'TUBJK.26^BI\<3<'B
M]IK96I`W9-;:N=0N-KVQMM?8[Y>F1K^*AX!F_@82#;0HMI+ERLA%,(%(A7!C
M'5<B(G4`!$<]O0ZJ>IT_FSBHRXFJ5KETG+NQL)6X*L5C5X/'JJ:=A_$G=M'@
M=<KZ^V!K=.XT7<>];\$A9JW-2-=E*?N>2L$BE"$91@1CM":KYY9(O)Q,@<$1
MZ<F`2V:B[.U;XH14G7VV,ZE?CJOHN+@BL:K'%=;6_N,:H7A#M"BCJQ);9-0L
M:5?U7M74.R%I2"EHE*;K>RK:YN'WE5HQH_439.(I\N5'V5#`40#GW!S%ZV__
M`+:[7X'/I].O^XZ[%1>-$4,3X2[PD:K.U"_[;UT[B&F@H/Q\J"59I,RV/%PD
M#:(FQ-[=85I&34%6>D6D41%1%(@IDYY!0P<X]=?_`-N/:_`Z6FL/^>5=F$<>
MKZC(/(7P3F-K;0<;%@7FFWKBPZ\I]+L*&V]:+;!-7Y&F$E$8FUTQ(CMF@HM\
MG-KE4:OP%L<X%,<#%`29+UM_9;7:_`XCI[,J\4VL>C]6L>A5.AMF>/3NUZ)J
MFL8"SMJU8-?/*99:%:HZ'8M(N'NM&>I/X9<:Y%C%1ZT&]<`=)9@D5(ID5!*!
MA``#(>MO)55M/WOP)CI[+DXRFX]:QZ_9G'&W?''?8Q!+Z_N\?+[YN.XM*-PG
MZ!K^195'75&I<M*K)-S5A:77=3L2V=2@JOCJ.$ES$64*F(!VYQ<YAJ86Y2A9
M4KB3HJO%XT66UEUO265<4E<JDZY+&F.\RBX>#5JN)&NQ)[8NN;%Y`--AJWE:
MW6O6*,QK=W774-&UE.A.*%(3+M>+BVD'%I%37*L94SD#*F`1'@/'_-\_S>@A
M_P#[)?\`2;_.LKZ4L-VWY]IM+5/B1/TBPTNT3NQ(:6>U[7^T:FLA2Z1$4=H[
M>;+GF,TJ^KL5'+N8]C&U\K$B"!'!7*RQNY0QR="9ZUCF.LG:C.]84+K6*4FZ
M>]Q1BNZ[AFXQ@J)[7X>)I.@?N[;13[_2+M/;2H$FSHS;8T,JA7]6(1%@M\)L
M2)D8>1>7FRA,NI*?LT:U>D!$P`FET-VE)W#E6JNW]0HKA4:;JO/W+(C\COMK
MM^14-_W?=S<M*J[E]TQC&[ZPH%.H>JK57ZBYCDX8VO[TK=*U)RT:[DU4YDSY
MF)6\D@1<0<)D$`/]&46_/A<C.E:.OM@0N84_[:[7X&V:OX6V"5G66S-H[:=7
M+:RM^UC>Y248U5G7ZM'1VK!FBUNAU6N)+<P\$/WRX446.NNO[J@F[1YZ^BM?
M?_VEVOP(6O\`IX%;5*;W\:8E'=?"RP2$??2U_:4<U>W;=ERV_+UJY4*'OVN9
M1I=(F)A7M>GZE*G]V2&-)%@Z8N6[IJJU=K'4`H\\8]?J/]I=K\"5S"F"MK#I
M>PWW0?&^+I'CPAH1:SRTJT)1+%4'UK=%,TD'+FSIO4W#YN"?!VB#9-V5!%$#
MG*BT;I(\\%$1UZ;43O1?'%1:[Z^XX>NDI\:BMF_+=\?>:TIOA[-1\1;2W+:_
M[0V2X^.D%XY*R,'66L'%-:Y7D[>@PG4(8'[Q`\F#2W&3$IC`4P-P'N`3CVVW
M8>;;E;;I54J3^0PIY:I6N;*POA/73P&WX&5N%G?DVTYUC)$>-"M&+BCR^HZK
M5ZW4):K^V50$722]73>+]P@"QEC)C\(`8?/_`!V'^H^Q>(?,&VFH)4Z7X&-&
M\*K/+1=FD+YY!6^T;@FUZ.K5MJ#3ZO&HT4-=SS:SP986HE.^CB_/2K859(%7
M!OGCJJ<B3NYQ^.V^8Z]2\1Z]9*W'AZV:IVMXL;1UW5WMGI-BVEN[9LYNRM[5
MD[179BH5*[UZ51J3FF/9.M0\HDG3+!%(,U3":)?@FDDW6[2+&["ER?QS;XG=
ME6NY>)JL:JS<BU<C&"6"6SX=B,G\7?%.S0[6A7[:KRSPM]J^T=M[3CX-W8F-
MHDVRFTV:C!:)O<W'L&4>Y?,6BI#HMFY1;(@0I2FX*`9;9T/DW%<XVZ;*>XYU
MMVW*RXPILV]*RWK>=34_QZK=2TO;=)EG)I_!W%?8*TE,&]IM*(#L*5DI61*S
M*)W2"8LU9(Q4A'D1`H#TS:>,<R5W]W#2(XSPECV]LVVQ[S7KK6I(<S&D5B-B
M8-259SC&7@$JM78U2-N$?*QZ*P29C+*K"3XP'D1'S'RYMM^8\7N7B>DN8422
M@L*;?D91%^!L`5Q?)BW;NW#?[?>(JC1B-UL;JLEL-)4UR[</*I)4A5E!HLXV
M09+.3G.=RD[%98YCFYYX!^.;SN/L^9'Y!*E+:2Z_E[ROJ'@U78%>3D[3MW:6
MS+)-;!UWLJ6LMQ4KBLH]L.N&4I&QB)A81#5%*+?1\J=)9),I!*!0$A@ZX_'/
M-W'7J7B76>:QL3X_+C1)K/?ELV%/%>`>M6RQ4Y^\;(MT&QCMNP5<K$O(1#:%
MK%<W*\1D+'$19(N+9NCFBWR`*QSI911PW.8W)C`(</QV^XZ=7S-3_N"/\MNV
MI.E77.GNVK#HWE+_`.@"BS$-;6.P]I;<V=-6VOP=,5MELFV!YR$I59MC*W0U
M?KXLV*#:-,>0CD"OG)2"J^*F`F`OIC\=M\UUZEXF'\E:V1BO?[>VTS+:7A5K
M;:<[(VY]9+[7+JK:J;<("V5Z59D?TZ7H]>-6H<*^PD&+V%^458',*Z;ILX*H
MH81#@<?CMUQUZEXD?D;2_EC3K+7K?P3UAK.>866/N6T[',LMK+[G4D+A8V$Z
M^?W=W37%)>*O'BL0DN:*=1;D3G;%$I?<*7@0`N/QVZZ^Q>)3?UEN]!0?"E6N
M!L[<'C)K_=,\>S61[:XF=_R[L.M&\G5I]_7WK*!L<M"3;IPR>QZZ#]E)MG\&
M045D%4N"',4P&#C)?+Z_]Q]B\3*YV8_4I98]AI!E^[UU>SBK.K_F/NI?9-OL
M<+:IW=![N5OL9_)UN"DJS!(.UV,<TK[V+90,NX9G168G.[05'YA157A4'XW_
M`.Y*G^5>)R_[@?%568TZWX$A?]W9IQO6J37:U;MMTM[39"[/G%QJ]V697*\A
MLM9LXO[>^S*K9?[]+9EF*!CF(FA[`I![0$^B?QB:_P!5]B\3U=+KGJ+*O.,5
M6N%<J.F8<?NY=&N(Z&KS6S;D@*I':R@M0S5;K&S)NOM;Q1*NT695^*N<A'F3
MFI4T>W=KD%0CE(RI%A*?D`ZY]5HW8C&4).;;IE3Q.[NL5N-:1Q-GP/ACI2OT
MNZZ_9L)U2L7Z`U[6;`W<3CY:0-#:PB6T-46;*445.\:D9,F:93"`F,<"]1$>
M1''"W>E)1=4FTG[4*'S&%:Q2KLW%L7\&-"N-H([4,SMR+\MD1NCJFMK?,(ZT
MD;FA'DC0M;ZCBNI%.)Q1LF`G6.!NY3X^.[KGI_CE_N/L7B1^0G2G!$KJ)X8:
MDUWL!ML*"DMC/7,6_G)6LU&S;%M]FU[3)*P+BM)2-.ITS+NXV`>+%.J43(_"
M`JF$I2^F<_C;O\LFUU$_D(-4E%+V_7W%VW;XJ:GW=(PTW<"6V.GXJ,4KHV.D
MW";IUAE:FHO\TXJ,[*0SE$\Q77:YC&4;KE.`]Q@#CD1'5IN43NM^;-I*E,#E
MZY4_IQ7Z5WT,QHF@=7ZZL!;;2X-6"E_V'A==IB@]7.T0I]?>2;^,BDFR@B4O
MMO)110Z@B)CF`!'Z<:CE4K=N?DR<KJ3HLJO8CGUDI?NBG'`PK8/AGH_:U^#9
M5HC+$E87"$.SLS6!M]AKU:OS"$736C&6P:Y$2#6*N#=F"(%2!Z17V@,;MX[S
M<X8:*Y&WQ:R7ESZ,4=QUS7T\"ICUJOA\B`GA/HA/8)=D)0DJE*$L/[7)5DEE
MGB:X;VL6Q6(VAMKY*12KJ%@!B7L!<B0%*I^L`G=G2TNG:JKW<2]>TZ465.GV
M]QF\-XX:LK#?6S2'AW39MJ60G)37Z03,N<()]84#MY=81!\3YOYM%PJ7A3DH
M`H/3Z^EH>/\`T+CE3HR*;FLNR_8TDU1]/7WE/%>+>H(?[Q685LJ9YBAVO6\D
M8SI^JHZIEUL$K;)Z)4.J]4'N=6*==N?=_/#WNWT`,KGHKD(.7$ZI9"&LU+DN
M.;E"N*>TC2\8-*I,JS'#1V#EA4=:2FGH)F^5=OVJ&MIM2,4EJPLW=N547*#T
M8E+E4Q?>)_JF#,WE7.DT>J=:X;_?EX9UR,(A_!_QQKM2LE/CJ+Q$6Q[6WLZN
M^FK#+3;M*H3\?9*K"DG966?2C6MP,K%H*-V"*A$"^V`<<<AG+A=I1+$XEK)\
M7%18;-G7U]W0;SK.JZ;7+E=MBP\6FTNNPON(ENG04=JKRR-:B$(:#;&(Y=+E
M1:L&2``"9!`#&$3#U'-.FTT[J<I-Q:?:5RU;E'AE%</MT&IX#PP\>*M>7>Q8
M#7T8RLKF;F+0W346D'=<B;//M5&<Q/PM56??<,3(R:"ZOS"B"!#K&5,8PB8>
M<T?CL:J;[/F=^OG2CBL_>^OY)%F/X(>,1X&#K(:[21A:XM*&B&K:;L30R+"8
MDQF'D`Y7:RR*LA6/GQ$Z<<L)VB?>?M('>;E^.7WOL'K[GVQ,KN7B;H.^RD%+
MVC6=6DGM<:P#"*4^1<,T46%5="\K,<O'L'K2(D8RON!$[1L[;.$$C@`B4P!P
M/G.W>3I3+`E:N2R7MV5QVT?50R!#QUU`W+7`3H\*4:?>)+9%54*@J5Q7KM,K
M.UYB;AW8+_-L1ES/#@Z0(H#94H%`$R@4`!P7MP>KDW5)94]W9GN?;4H=E>,&
MDMRSD'8MG42)MDO7DW:$8\="]8G%F^X%Y'29(EW'I3L:N8`,+=\5PD!N1`O(
MCEMFQ<NW%&;HJ9T(]7*,:12^/QK0FP?B_HJK1$C!5?6E3@(B5J!J"]C8V-,W
MCUJ8=^XDSUOY-%PFBG$_.O5U`2(!2@98X_2/.S\<OO?9\SGUURM6OAX%BLWA
MWXXW-_"R5LU'1)]Y7HB/@(<[ZOMQ2:PD(`IUR,4:)*)LWK:NH@0K,5TU5$>P
M!(8O(X_'?XWV?,GUTJ44=WSV;3*9;QOTQ.TX^NY;7U5>T([]>7"I*0C%.)1G
M'$@M(GGV8H)HOF$V55P<"N4%DU`*8>1'G'X[_&^SYD>MGG3'Y=E-N1%`:)T[
M5/V/"L:UID$6@NYB0IPQL`R;+5V0L#<K6=D(IRB4BS=_+MB%(Y5$3&5`H=WH
M&2^7[KC7N^95<U$KL>&6=:Y_I[>\JMC:6U7N%G'L-JT"J[!:Q2BZ\:G9H9K(
MG8N'*0-W"S154HJ-Q<-R@50"B`'$.1R'RYO_`+C[%XE*EBGN,1?>)WC=/5^+
MJ$OI'6DA5H!Q)/H*ON:A#C$0[F712;RAF#1-ND5$LD1(!<%Y$JQP[C!SUSG\
M?<C^YX=7SJ:WK9O+!_'NIW&PFNE]9M4Z(BC2JPFAK`_N:Z;I0C-%O1U!:F9G
M5JR*92DAESMCBGWI<&]L>WTSJ.@E2KN.O5EU8E<]5?;EPRI;EFO'>8B^\6M`
M/[;)7]?46N#WB8>(R,E;%:=#.)UR_1=M'@/?O!P@HND[,LR3$5"B!A$O//.'
MR^O_`''V?,+6:Q*BN2H9G':@UY"QM>BXNI5YC'T^4?SM69-XEN5K7YF1/(*/
M9:+0.*A&TH[^]'`*K!R90%3<]!$,G\?L\Q]GS(]7J6ZRFW7/I6[?O[3%H/06
MF:LK9E:OK"A5X;I\R2X$BJA`-B6=N[4%1RRG"%8"62CW!CF]QNL!T3"83=H&
M^+(_'+[WV+Q+?6SI1I-4WD<-XWZ,A:@_HD-J;7,;2)E9)Q,U1&F0BD+,*(+>
M^@:4:KME2O#-'``=OW?V`AP7ITR?0?X\.KYG/JYUK*KEUY>ZE.NJ?N-@4Z@U
M>@0+*K4R$AJO6HU,$XZOUV(80L-'B<QE')F;!@DBBC\TL83G]?BR_3Z;T[;X
MFZI;*%=Z]YU&U1K;T;%[C*?E`_GC^(/Y<U%!.22!+NX,(]W'T<>G/\N`3<`8
M`P!@$I?^R/\`9^4,`E-?S#?I?D#`+?8D@7@Y5(3=H'9+`)@#D0X+SZ<ASZ8!
M<T"]I3%YYX,`<_7\!,`G#Z#]@_Q8!88__'O?_H%_KFP"KB?\"T_1/_6'`+I@
M#`&`,`8`P!@#`&`,`8!`?L[1,<"B4O7DP<\?Z!P#2[W=6ITMII::5LL<?:!X
M/]IDJJ1H^7?HP"AA2)*KN$F9X]B@NH42IE56355$/@*8<TQTUZ=M7(P;B]M?
MF>3?UMRW=E:6QT-CBNU1+\0)HE1.!.3I^T5,Q1Y('<<I0*`&4^$>>.1'CKSG
M*T]UTX4W7=B5/6ZE8-]QX#ED11,O*2:@''V@%,2*`8!(!C)`)0/\(O@Y$/3W
M>OJ.1Z>[3+O73X,[MZV\YQ\QTMUQP[2"1:Q+]`HRS:/>M4#MW9#2*#=RW14;
M*>^U=D%T0Z21VZI>]-0.!(8.0$!R%9NM\*B^(]#U>G6+FJ>_P,!@=PZRL\[#
M5BM6F$FYFPUA_;X1K%^Z[-)5*/DD(%Y/H.$FXMONP)5<C4ISJ%]Y7DI`-VFX
MU^A<(<=Q4=,<CSYZ^X[CC;=8UPP-E)KD,)BD4*)DS^P8I3`(D53()O9$`'HH
M0AN>WU`!S/=LM4<(X4K[M_5TFC3ZOBXE?=)5HL.TH_DHLAU'GR3`JI4B^X\!
MHA[P(-P,JF4SH$_<]I$#B8H=W!>1XRORKE5&F+-"U6G>4NY^!B\SLND5>P5*
MMR\['L+)L)XZ8U"+63<_>%B=,F9I)T1FFFV.(I(,B"J9542)<!^=STRSTNHH
MWPX+/%84SVD>KTZPXL7T/P,L*]8F[SE7;ARY,17@Q/A>`0HF35_FN`3.'`&^
M(2B''(9SZ:_6G"ZTK[B?5Z;/C5/?X&`7?:%-UZQKLU-2121]DML-2(EW'MPD
MT%;)9GY8V*CSF06`B2CV0,"0B4!.!OSN``>--C1N?%&ZDI+'%TPZ,'X&34Z[
MA:=B2<6N\BG=K5*#O]1UO*R0MK)<F=ED85H=@Y5;N4*:U9.YYRO(@H#>-)&D
MD6P]S@H`I[I>P1^(2\ST$+VG<J88/W=F/;7H*):V^I<*P=3-_O*+13$PN6B"
M8"</UABHEY4,0P@!5.SN%85"B4`#]8!@$.0'G,?XF."H\?;V[SGUVHQQ-=QN
MWZ-,;-MNHD5G"MHH]5K%JL17+([:)8P-T5?H0!/GG*I472[L8E<P@`")`)P/
M`B`#O>A4;*G1;J9XKW=&1VM?=<N%ON]NTI*5N6B7R2V9&,#$03U%;0IUF<S"
M35NS9SGW+%S28M'BAA;JLU8N61$BG?W@<3D-VF+QG-W1SMS2BDTXUPW]O5T!
M<PO.K_E2[]QL)U8*VT0!V_E8AHU4!%8KEVZ;((+$#Y=)!PDLJ<J:Z`"[2(50
MHB3DX!SR/&9Y:&Y>7!.+H6Z;F-VW<X[CI&A.0EH!VZ68M9"-=/D#&*Y8MUTE
MGK8R)DU#@Z:)F,NV]LXD,/N%+QR4?I`<J_$Q2JTTM^'QV^XWOFT7_-[>W<>/
M9J`8K-D)*2BF:[M5--DB^<MFZKQ4GP)@S(X.0[HR?N\<I@;M[N.G./Q$7E%^
MV\\CU^HWDM:R5I-RC$NIJ'0?N!%-&)=/&J$@L(J))>V6-6.1V8PG6(';V<\&
M`>.!YSN.BN6H\-N+<%M66\WV-7"5M.])*Y5X&K]G;ZHFK4J\M)/%95Y9;U2Z
M":,@@3>3#1W<Y,\/$.WS'N*[;LTW0\\]O>)![BAV")LUV-#=G)JY&BX72N_#
M]/<<:C6VXP3LR3DWC3=B;+G;'6:XW^<M,U7H)!8?E#NIF0CXYLJ)SAPE[KY9
M(G:IWE$2\\`)NOKB.FC+_3@W'J,KUU];44DE>:5$K12$M:JW'+3PE2A$W\O'
MM33`\&]HL;[ZY/GBG`!!,4^XIQ`0+R(9*TM:TAEGT>VXAZ^^LVB)W=*?&2S.
MM/+16HVQRJ2R\37Y"9CF$M*D0$`5681KEPD]D&Z"G`*'1(<J9@$!$!#C'IEM
M@Z="'K[^]&KZ?Y"4VZIW4H*DA'-.V19]9)Q]CD(:->6"S5=-LL)8-%5RH#Q)
MT+@H$-Q[A0$#&X*`CETM!&+BHI.JKDZ=/5OIW$KF%W&KIV%OIGD/KZ<K]=F;
ME8ZWK&=M31&795&SW"MHS)$%I-2/[TSHR1D';)S((<`HF84RF4*4_:?IB]H?
M*C6U#CE1Y=&7O(6OO/:EUFPYS:FJZG*HP=DO=(K<VY:#)-XF9L,+%2;ADHI[
M17B+-XY0<+).50X3,!1]T?S.[//4M?+%:>;QIFO$Z>NO;9+L-8>1_D?6/'^E
MPMB>,6MCF;18X6J4RHK6>"J1K'+S:YBE^6D[,]CH=)-LB4RG<JH!?A'CD>`&
MVU&S-_\`E4MW,:K-KHPKVGJ6)NY8C<D_J:\3.:SO/5]EGSTI.\4='8K".;2,
MM0F]L@Y*Q0R:I`[B/&C5P8YETE0.41*7XBD$P<D`1R)1TT7]+3C[>^A?A0N=
M5VUK;8#6P.=;72G7]>JF,641K$]'RB<9)"R4<-F<BY8G7)&*K)!VF,?CVP,/
M=QU#(C&S<DH+!MTR.9.$(N4G]*1@%9\G-5O*]3):\7*CZ[LM\(S^0JLM=:ZZ
M>N'+UU(LX\K%PS=*)OFKT8Q4R:Q3"E\)@$P"`YKN<OX)-0CQQWT]J^Y&9:S2
M?>NQ^!?VWDWHAW&6:78;;UT_B*2_;QUNDF=GBW32LNW,B,4V&=607.6,;K20
M>T#A7M;]W7OXZYS^.;QX6FUT>WNS)]9I/]Q=C\`OY.:&9U9:^N-MZW1IZ<V6
MLKVG]J8DT0$^8RY4H4STBYB#(+?+*"DGU%4I!,3D.N57-#=32MQ;?N++=ZU>
M3=J2DEF2R>47C^K8Z]32[BUP%EMS)I(UV%+9XWYZ5:2$<:8CE&Z95>TJDC%%
M%PW2.)%5T?B(4P9QZ+5?8^[Q%Z]:T]J5Z\^&U%5;W=F)DC3=FIWK2LOV&R*H
M\8725D82HO6<R@X:6:7A_O'[XCX5P@8Z4@ZA@B'1GA4Q'Y0J!S*]A0YR/1ZG
M'Z'ATKQ/-_.<IHGYRH_\,_\`I,1@O++Q[LT9;)BN[AH<U%41BM*6Y\QF2+)P
M42V,!%YAZ3VP6-%)"(=SE,JB`=Q1[N#%YU?AN9_3_1?UY8QQPKOPPRK2ON-,
M>8Z*4>*,ZQI7*7@8\/FGXKN'<>P#>&MW$A+3J%68QY98JS]S,N45WC1D+/Y<
MSE)%TBU.=)<Y"ME.WX5!$0YXN\KYAIVHWK3BVJK&/Z-G,M3=NXZ+ZH+/9CNQ
MIL,IG/)W0];V(VU18=FTV(V0X^5,C4I%Z"$HFI(#[;))R8R/RC%T\*/*:2RJ
M:IR"!@+VB`YGEI[\;7FRC_3WUWG5F>LE->=&EO;E[9EB-Y<>.A[XOK8VT*[^
MVR;B0AU(--220.C,Q13K2,0=V=@E%EFVJ(]_RWO^^8!#M*;D.<YM,:U!Y4U#
M>>D;9NFAO(<K*K.+XU<E?R$F6"2=421>QI#2RYX=&100>E9G45!!$YB=O`@8
M>,H]38^Y8=9=Z>]A]+QR+3_ZY_'FO+0==O&S*['7B1@:5)SD9#1MIEH2&)=8
MY!S!2"<P>);E8P,HHL)473T4"]Y3`<Q>!`+(7(7%Q0=4<3A.V^&:HS>^V-SZ
MTTG4V]UV99VM:K3N8AX%I)+-WSLCF6G5"I1+-!..0=+G4?*'*!!`.T1$.N6Q
MX:_5D8M9;U%VQPZ6#G=JL%2M-N;7Q-'R?G1XQQ5+@+^XV&<\#:;"_J5>29UR
MV/+%)V*+;(/I&*2J2,4>R(NF3-TFLJ"K1/L24*8W!3%$>ZVNGV]YY/HN>/#T
M\^V/_63(KS9\?9V\DU]%WEXK/'>S,6D<M7LB$$\G*^Q/)2];86-:,&)D;.U8
MI'/]WHKG<&$HE`O?P4<OJM+7]_=_$Y]%S[_8FL?\%/\`ZFSCJE?O*)J8UQ<]
MK3\-5"UV/KVX[35*I"0^T6%YD&>KE&XD9OB3,,HQ>/G+=V@9P#/O32]\`Y`2
MG`L+5Z?[EW^!PM'_`'%_L.G7'_J.@6W[QOQW:Q-:D;+.6F.7D*_6[!9AC]=7
MY]#T(+5#MI2*:7F1"`,A63/_`)@XM@=F2.JBF"I0%(Q3FZ6KTFV2[&=K1<^_
MFL36.QQ_61;J1Y\453=6Z-1['?HU]Y0=PP>KZI(P\!;).OKM+1`PLK67MRL:
M+%U6X%]//Y@C=J55TD)P$IA`I#`;"U6E4G62Z,&(Z+GJD^*S+@637#2F_P#=
M7]3%)GS4NZ+&SA'EU\?]FF/D\O,3QFUU-'5!_H-_44V3*6B%FK*5G%7L=:B_
M-)IF23^9%,4E3$`P9SZFQ3]R[_`T^EU%/V.GN,]UKYXU&V;,NVMK+!VFO.(C
M9-)U=39AS1[7&1%EF[=3&%@:.Y!Z\;JL8="8E%5BQR9W'NJ-/;,;\\!%ZK3U
MQDN\U6[/,XQI:MMV]F7C7,Z5J6ZJ==H38-EA'D@A7]9VR[5*S2;^/<)L59"B
MM4W$XK&N"F5!_%-4CJ=JR)@%11,2@(B`AEUG4Z)R_JR7![\.XIU5CG$XJ,+;
MXZUI6./><@W7]X91O\I-JW6@UO9*MIIU"E+K4JG<->6VO2EQ8HE49-+%6XX4
M/FIFG-)`Z)WRJ9A700,8YB$`.0TRO<J46_-BY4=**6>S.*Q,EO1\^\^/%8DK
M?%&N,<%7'*6[WEUF/*/:&M_"ZI^0E\K$G<;Y('J9I2$JU"M%8516LLXQ8F66
MJ;IS*/#,XI@Z.4Q_?33<B!%"D`1SS_4V,^+N?@?3>1=XN%+'K7B6*L>?<8GM
M_9^O;M3MD-*_!7^C5>M6B,UU9TX&MQ5UKD%(0?\`F7,O55!A)5S+2)6R@ID5
MX(?W3E`HB(>U:U/*/2VV[T(WTGQ)J3=:O_#1X8YYT6&9\]K-'SMZN;M692LU
MP:<5L737,VR[\XM-);,3UPZ9[!4;M[FZUX_V:SH\HYU9#7INN@T4JCVX-W)F
M02`.EBI"J9$S8##_`&GKQ#OZ.E=-=C-TQ2XN^L53H2;Q-/+[/,;3D]?;<$TJ
M-TQWY-]&9=_('=-^@K_J/1&FFD2WV9MPUMD#V2WM3O:_2J=3V!UIFQ?=+5PU
M/-R!I$R2#5J)DTUSFZ&[.3!1.^K=J=U)7)Q58Q54Y-9*KRKU]9Z=6G@6&L[F
MW%HZJ7I7RJ0@)]I`SD!$ZWN^JHIPC([<D;4)&\?5&VM',E*3$/<6,R?Y94IW
M(,U@53,0Q"@(Y@N07-UP:U>1%O;DO^6O\2:NM=I97'[PC632NJR;ZA;IC+:C
M>:UKM?3DMK\\9MAO8+DU=O:JNM`+R?RQ8>=;L5!2<D<*))\?K#DSTM/RO^W[
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MI9K::KMG4<$E;@W<I@JJOQ)3+]X+507G`MFI]O:Y(UUE>-LUC]MH:#9N;Y4]
M?LT7DRE#QC"QO'L;/"F[2429O$F[@Z9OB*!OAS+YG*E_WHO+9+MR//\`*YNU
M_I/_`./B6R,_>,TI9JY<7+4VX=9-O>U=(E<72":MBKT3:MA>5:`V$<&CI^2-
M@$IIHDU<D5$CANJX*)TRD$#BX^5K'SX-8[)>[8>C#3ZCA3E%\5%7%9[=I<K%
MY369:V7^XUYNXB=">,5CV;7]_P`PO$&?JVQ2IT]K+(-=<+(*?>SV5@I1R5-Z
M!$#)=X&+WCVFXSWK^B2CY,T_IQSP>[+X',K<X?N6>1M;QP\H%/(9I(.U=5[(
MUL2.B(N=C9"YI0+BM66)ER<QLE6K-59B8AIL'!``5D"K&5;'$2*$(<.`JC>M
M3?#&2<C@PV9\WZW&WVRQI]9[34UA1KN35ULWFSCXM?7T'=G2C-JXCY..&22M
M!F</*/&[=P\0:*((J+<&.4`,(6@MU4\ZH:S/8Y:3UAL2IT.1VM-ZA)LZ;/!(
MU+]K8!=VT7,FDSD/OXM9>R#$S9L_40*DHY,!!.)/BRYSY:HU=Z'$EEPRS]^%
M:X;B]:>\_P"5]QC=6_>%4ZR3T4P=4RUUN$NT?=GVM)Z8G*:*M_5IC6;>?(?<
M+.64FJHM-,*^Y<1:[AN9!VDF`J`43%[NG/E=*J]!OJEX9='8RN=N5MTFFF6-
MOY_VE:KU2TE\9-JLXV[1$I:X:4LMLH-6K9*-&,P>,[+(W*=F65=834H=9,J%
M?X%_[:A5E#BCU#B]=Y?&#E:NQE.N24EAV?K[CBAJM_YY;$V4[FY^CUNPUO34
MOXGR6Y(&VPKZG.[;7+=`V.7BYY)5"><FBYA5B6+6:-T4$U6;AP<BG>)``P8_
M4V/N7>#>D3YM+I$(:-UK?KGKJE.=?U79.[$)NK"Q@+1;HN%?.Q&`,HG)6%O"
MJ3R2+]=NB@DT5."8D,H'!;R_TU_+A=?=XE%$>>SJ7L:1G6D;_!ZO=;AE](M]
MC*3\%()J7>">.4RG;5J+%Y9CUF2<-"HF<*(D4[SB4I>SD<%4X3MRX9JDC,_'
M#S9:>1-Q=U^/U7+UN"%B[?1%B"XTVP/B':S:\)\A<J:R?I6NBRQR(`N#1VU4
M_5B)A,'PB8<F1>>%WNNNO%C;MZU_:I:K62LL860CIN':LCR+8B,VQ:R"+!%5
M%P1Z,BW.H4$P`IQ$>"CW#DQHI)R_;55ZMI*3;HLV<TROFO&O-U:XF6DIM>K:
MKJFF=UW+9$3=J+8M?QUED:E$51ZP!F-DC6ZS]^F#E7Y5`BX']PXCSV@?GVI:
MGDGE3K>M>:Y_2U&3I%M8NL5BE6M-F]GI_B.95_T9=L?$O,[YX[2HT6QG-C^,
MMEK3*P51+:M;5:;'@K"L[UC$/&!;8M)H,&S9"O7&IP]@92AX]0'2#Q!51,%S
M"CT\?6W]##4-:>:E9HJ.C5<%7`QRTVH4G%Q^J+H\4_U+F7]XY7)*R[9J,-39
M.2F];[BI>K:V5O8&`,MA0]J:2;U[L2*5*V]S[IJ"-9E1>%*4R9OE!Y^`Q#&S
MPO6KCI!U9'IK_P!K[O$US6/WI+2[OS15?H=;DI.[0MZD-61%2W)7KA:9-[4*
MP\LK./N-;CHL5ZG^T"#)5-HNB9PA[Y`(H/(@4;HIR:C'-N@]+J/M?=XFR=B?
MO$*U46<Y*PM84FH9&KZ+6AYMS,HQD"YO'D4^>J4:ORCPS5PK'0T)&^T>1D"]
M3`H`)I<E,!=:T&K?\G?'Q'I=1]K[O$PN#_>+VJUQ</5:E0:/:]O/=T06E9)C
M4]H@_P!:LGM@JTS<V%K:7Y6`$AXB.85U=!VS4:E>"X7(EW%.<G.:<)VYNW-4
MFL_9%4HRA+ADJ21]7(=XZ78-%90&S>25:-5)!FU<?-MFCPZ!#.$&KH$D?F6I
M5>>P_8`F#UZ]`X.2Z^^E_/#_`$_R8!&4Y#\]H\\<<_P^G\6`18`P!@#`(3"4
M"B)N.WZ>0Y#^$.N`6I(JXF5$G?V"<.W@W`>GT!STP".7*<\2]*`")A;"`ASU
M'T[@'GZPYYP">Q[_`&@[^X1%)L(]P\B)OET^\>>1Y$3`/.`3W`B"0B`B`\AU
M`>/IP"V-0`'J_``'+0@CP''(^ZIU'ZQP";$_X%I^B?\`K#@%TP!@#`&`,`8`
MP!@#`&`,`IG)N"=O'0_(#^#TP#X*^4M?D:UY(^55NK5]VI69N0A/#N*&5J5\
MF8YQ"P]RV:A!6^.AV1'!D&;9Q#@/MD02'Y10YENT>>M4^;O3OR,*1ZNO]2R/
M*5J%Y],9=?ML)&\PC=<;&W17I3;.\*A;M046A_\`HDKT+;-AOOVDDW==7=2S
MDD.5V\C]T3$A=W@-9Q.2%4K..22.(%'D<C\Y6M:8]"Q)_"+"B[W@8^PI]XMX
M[>O-LO&Z=>7MAY>ZIUJ^CJ9L"U1M>&N7B&UQ%;/@*K`ME#Q[>-F'#IPJHX0*
M!6AS<IF+V#S/YV5*NF'5[8$?@XU44L'7?L/H3X;Q\M%5OR5U-*2]J=U376\+
MG1:"[M3R>E;"SIRT#$R#-NM9YU9TZGD47;]4$UTN2%`P%`1'.'SKBEYCS741
M+DT8TBE7B5?@?.#Q[U#KF_/M"ZY-8=F+QT#J7R%<7&!C;W=80(78D+=(%.)A
MI]=`(UVU&/(0'R#%-8K8KTQUBD$1SK\])^R.OP45L5/>8G<[9>;#7M52.P+5
M*U=T3QOBG&LWMEE]^5V5/=(;8%CCWZ+5C0@DX>:OOMQ;(52321E7S5<@IB!!
M4R%SVE7A7W!\B3HJ5/HSYBDL$OX?TTM@N,]"3GWOJ(;A--J?>31K]1RN7[S4
MO5:HDG#W*LTF4<+<.UT%@6;&!,!3,'<F8N=N+XJ8OJK_``(7)8R?"J4QVX56
M';\#YYQ":+QGXRW9QKNVLG=)WCNFE4RQ/;%MR]U([R4UM.KPTS4W4G%0=X@X
M%[)QI4HU:9;%*W5."9!4)\63^?E3H]Q/X&.Y=Y=XY@!Z^1EXJI[YEMER&F]H
M.O))*QOMI+LGLI\HV7>,OF;"FG$MMJ/K`DZ2CE8[CX"E`GP#C\[)_P`$0^1P
MCG1+K>)=Y2&H$S#QD=X?06WJI)2>S/&YS,VJ[0%^LFK:QL+]ICE--+UB[*?.
MKW*JJ]X2BZ`DCS%7((_'A\^;]D2^112JTNUF:4K2M=V;:O&K66VM<7=P-8=[
M_K6]6<RYNQ6TK?1AJU-#:5+"W!-X]K%G(+9S%)$<@U;B'M`)A3`HRN?SR\"'
MR2"CQ*C76:YCJW7X%KKYMY/TG<EEU!"Z_P!KT_3L8I&;"M;FL;$_S*?QL&5\
M:$;H3AYB6JJ[)*'>O/<1;`D3@P<"(1^>EGX$_@X5HDFUTLEQ-1VTUBF\OO\`
MI&PYZMJ:V\87^]V#*-GI"P+T"`M^Q"A"NPAV2+R=>U>)=0KJ8:-E!<BV55$0
MY#)_.R6RG81^#MTPIBZ9[5L,-/3>:OLUS0=9V^L>.$GYDV"VS4)):GNUT23I
M[C3<4QB;BYUDO(Q%FF*BXM*!W2222YR]A^.@@(!'YZ6?NV$_@XY4755F\-!:
M/:W:[>,,=<JQ<=B:LAG_`)0VNGLKMK"QZXKT`U,%,3IZK2N2\L_6@JP:3(L,
M`A*"NHFGPKV\]0+GLF\*U?5L.7R6$8U=*+I?M7XCPZKKRH^2T7&P.O)>9=1S
MS:C'9%KMFJ+A0-D4%D_<.WL.K8MIC,J4+<3><DO9CVKINU(N1$4S"`)IB(3^
M=E*JI5;<$2^1PCBZ=&+[B9Y^UV6LNXMHL&VCK'(6575=>4UK>(34EBWA.7E^
MT:N@=1E2,6=B*SJ*PU1ZLBJ[<JIG5>%(`EYZYS'G<H+@6SJ"Y+":XZ))]9-M
MF@W<W!^1NQO\G;U-;2<;-\7+%1I^7@W\?9SL*W`ZR2M:]'05<ED$0;+LI47K
M=N)0*9$>X3<\A/YZ==O<3^#M[.'M9:=A:DL8W.O5Z3\?MEV3?,?YHU?<K[?3
M2B.):HO-:!<T#Q;L]Z+(IJK-JU6"I-#11@$J/:"I2")1$"Y[-8*M-V%#G\+;
M:K6+]YU-^\'I"UFDM&VAM4]C6=.LO+TT.^I^K8/>5<09SD,BR)"W[5TZLBC(
M0MK%$J17J/:Y8&*!B'*/)@A<[<:\*S"Y-!YT36&+.$;_`*/VTL%4DMC:GLM;
M;6;0='U_`4[56E:[NJO5R9KD[-C^SK,]LM"LCJ-VY"7:NTCE4$S=R"A1<"1(
M"FZ_.S]J$KDD'7*JZRJO?C9O,;<\J]KKFUK/+V>N:V/0I6!U?KRZR;2.KM;@
M8:1K-EW#)N5W.K+-`S+)1YWMG!T%2)`("8>F3^<N5I3ZO<<KDUGAXJQX>MG1
M=*\?MR:_\B[-NBU4Z>VE4)3;4_4HJJOV<)-DJL/-0$"WB=S5@%0(U>/QD&2K
M68<+%*MV&'V>2B.0^>S:QK3W$KDUJM*QK2N;[T8CJ;Q8EK377"6R-'*++D\0
MK74H`]LA8M>:CK18MC6:<)#1BWMI&BG#PQ&+TATU"KMS\$`2ASP_/3'X6UOC
MGO.?-SR*]>U7LZMWS2Y-A;'M=9\?7*-O=2]#=6;3;V,K>MVCJG[!)/3IK54Y
M1B^8J/F48S;O3OR/3F[O0,C\]+VH=+D4:5PI[S[*>06M5]A4W2K-CKZ.NIX3
M:NKIYQ&N8R-)]R0K,#KS,B0\HR4!DV;IN%!.4$P5`"!P43#EJO/4+SGG+$J\
MI6/Z*RC@<%UW2>UV[^C:@8>/<O5KSKO=EOV;8?)IW'T\E;L-85F+=)QIHJ<0
MG#6^=D+7%RJ<*LT>))I(HIE.!0'MXD'=_B5JV2UKXO4FF3]-94JW#7IY.?AH
MYA%1CX)$7LHLQ,\7AR"FZ<)-EDTP$ZJX&(;XC"/(!#N>2G=^W'L'E^;_`$_N
MP.%];>+^R_\`+R]P]JT[&O)Y3P@BM:P;>;3A9`KR^&G=AR:U0+W`"[,GL2D<
MN=1(Z)0.(`53D!#*_P`Y.6_`Z?)K4,?IIEF47E/J"S4G7FT+.77L'^S<IXQ>
M.5)=QA5DXB#FMB0.W8DZU:4;L?ES)*BQ-\N+A5-4HE.`FY`,?G9Q702N2VYO
MA5.+PIN]WZF5/=![=O>VH/;:FC&VO(22WGXV/9_6KR5K,LNE":B8WAK.[:G$
M&/=!H%<-;&DP:MF(D5610]U8!/\`FQ^;FE3%+O.7I(:5_11\6[+#VQ+GL'1N
M[7LGNC5D%I6)L$7N'=<5M.O>0+FQP#="C1J,C4)1F@[;+`-S4F:$%25:1S-F
MJ1FL1P)##[7<4T?FY5XL<%[NPMLV]/<O1MZO'3-_5U?QH9&T\1=D2NP]TTV2
M]B'U(PKNUI;Q[M$8_0;O&]F\BF::=YCCQZWN_(%JJZ*Z[)9$J!@4?'!0QB<`
M/?YOZGCU98FOT7]O*$'*U&K?U89*CJUOQI[C1-:\5M\/86\%GJ)L9M8871-O
MU;7WVS=R56P0$U8;$K&A)1U$K-2KD,5.L3+6&3$JDBHHJ@V("90Y$PYYL]?_
M`'#.3E;E/RV\,=FRGN.O4\@M-P<8\*=%A3!?'^&!U1M3Q]ODROND*S3:D'[4
M>+==U]491%]$M)0=AQ4A,N5X5JZ1:I.6S1BS.<Y%P$I@Y[>\``.W39YKS"PF
MM>Y.Y6JJZX4H^^ICOW-'=:>CIPJM:;ZNF_9F:'L?B+N@-C6N.C6%[L5-V/8Z
MQ933->WHRI&OJG\BVKS*=C+9458AS9)Z9C!AUEFZ[1P<%RG[1$HCSFF/-7JI
M>3O_`$Q_0HH;YKWCIM"+@D&I8*OK/`\TE]UK/&LHW27-KP\TH^&;2>N3.'1W
M,J@U3$Z)5!.!%.WCH&6[09_K34VT83QKW-J.1AHR,M%AG=W_`+&/$;`T?Q5A
MCKS(2LE7I=1\V1($2CQ+^VH@LE[Q?:].O.>#*M7'I9ZZX')7:Y))X99^W0:.
MB?&C<3/7F]8Q:&JJ=EO>C-#:]K8+/F+M5W9-<QBZ=E^]WABHG&%143(*:?'^
ML<?40X]'0_Z+_P`WZ(R:W_57^7]6;>\YD;;%ZITB:NP,+9;9';YTX9"!EW#E
MI67\FP,!Q8R4F@T?#%QYS-C&*Y53%%,Q"B?@,V'.C_UO^%F'T+QIW`MMFN;M
MO;2JUZ8GMPVB]7"J0-H<3S6HUU?6R5%@3U^85:,DU9Z4<,".I)5!$B:XF23_
M`#4@')HST978N+4$W*F%4^SQ,:B_&??9U*5I-Y#ZKA])43>K;<#;:<;/2)+_
M`&5C%6=6RQL1&5^.CTRQ5O.LX^6DY59^(.FQ!+[9N\>/G\:<.RI''%MR6,J9
M4IV]'PV9E8S\0]R';U491]6U%X:E>8,(J8SYPJ=I)[NDFKZBI-`7]U%)HQ3C
MRE7,43`3W3<!T#'"R'?MIU33R[-K]VXYJVQX3>:VVJQ8H&;?:_,%IIM2AX=N
MCMV_0>N:"UK</#Q4K!NJ56VC$VQ[!/+QI5DYF2662]OA`R)$R)AD<+.G>MIT
MKCU,W8KXH^24D[WMKYX&J(K5>_\`;U)O5DFV$_8_V]J-<K5?I+66:045'0[:
M/?3$C)4]-)LX!4/E4%C"(F$,Z2>*=-GM[5.)7(-*:KD]GQ>SN+-8_`[;DQ`[
MIC6<]455MBJ^8SR'-(.)IROQOM*@,M:I2/N-&B7_`-Z%*DZ-(`!A`B9DS%`3
M8H>11D?DEK&S:UU7Y'KW1>(8P][9:&E]0VNLMK5:KJ7R"U_6J?7:W&EI["/<
M)H)GL5/3.D]*J4IF;D4SF*`<Y#K3H/3TK3A%+]RKV5?=7=M.P-0^.K:"\/HC
M0\XNHTDK-JB7AKE)H-7D=[]GV%&R+VRR3EF=PJ[3>(S4R<QQ,?O`4P((@'3)
MI1>X[<VYY)I2Z*X;CF>1\1_(W8,0++<-NU:D\H?CQL;1FLE**-G:MI)W?(AE
M`$V'>T79@7;+-8J+23(W8'$A'2RJG:(`7F&FL&=PG!MN-<7M7<=E[0U5:+GX
M[O-7,9.!:71.JU-C&STL$BM6?OZM_="Z3IV#94LB$6Y<1HIF,'ZT"J=_'.2Z
MM8YG$6N/BC7AQPVU]L3GDWBUM*=K&[T;59->LY_<.T-57]1O7V\PK!19Z/\`
ML^27BEW#A`9E\9XA"\,E#G[Q`2%-QD8I4V5]OB=J<>)/&JC\:=2V8[C0R7[N
M6UH;5L;^!8:%?42Q;=6VJK;;K5KQ/;7A`=RC:==4D[`UD9TIVV3?)F^6>_+"
MLDD<!ZGS=H<)23SHOU,FMEQ*-,JOWY8H[2W[HNZWV=U[M#65CKD'MO3K^<3K
MSNU14S)5>?KUP9"QM5/LI(ERVDT6*J7:9L=(W+4P%,`@/(YZ)@-,OO%#?EYC
M;7?]@;IKZVZ9"T:XLFMHBOQ5F<Z1H#G5[HKN)COV>G'BLQ)N)]83B_?F,1<P
MB`%Y["X!,A/$C;4M=O\`/#:&RJ2OM&7VAJJV34?1X*Q%H#6L:RCY.(2A(9G*
MKKS2TY,I2BAU'*Z@$24*`%+V\YXU[_7DV\I'JVN;2LZ=:=-\*C3M,L7\2K*>
MNV*$/=8E0[[RY:^3+%PK#R*I&\;'OV$D6J*D^9(=:75!@/"Q!]H@C\/7*J-J
MG2=O7>JFIRJY15.U_!/YG-VE_&S?FW]356,V%LPE"I5<L^W[+2H)"D.(/:$%
M;G\Q>*_5I.R6!:<<,9.&@T;*X=MB%;)JO!,3W#!P`A"54L4=2FH2;HW+#V74
M45>_=I[$CUYQ62V'IZ*2EM(;7U`@2A:SLS66>R6SX*%AUMDV:U62Z3,C)S0O
M(8J[Y)$C=$2K']OC@N2X=*9SZA;FJ;_;/<C;&^O']M5-<W*UVIQ*WZ-;>(<'
MXU)UJFUF6D+1(V(S]N$'/Q44HX?M@3>6-)B8IE`4,Q*F*@GZ'-D-456SJ,ZO
MA2IB^IXX^_$V/X_>/%AKGAE":A>S4I6-HWBC2\WL*^'A8"2L<;N'9L4YG[A:
M)>(506CGK]O.S:B:S<P&343'V_S0PMVPQ:M\4UU?J6[Q/\-K-H6]7*\V*VTU
M=2X56%K'[)ZHJ<YKJA.7$2NJX7O5FIDG8YN-?;!?E.8IWS)!BEVF$H(``\AI
MTJ_KQ]_P9D:P+38?">[R%FV'`Q>\$XWQRVIM,=QWW7!ZJ@[LXV,7T9/S4#&7
M)S*MQBZO;K+#HO':7RYE"&[R$-[9N`]8Y-8>/GC#M.YUX&.W;I+P&KXOR!V]
M=&^FY&EQ\/,O%0NT\[JWLV]E.N7)Z2J587I$#)<+&`"!P4>G@R59.N7$SV/,
M44DL9<*ZN@V%K7P-LM#<QT*.W*^XH%0AKC$T:#AM,TN&LZJ-FC9>&A`O=R^6
M?2E@0I<9*&1:@F**CDI`%8W40R4L,_;VZS#J9<=VO1U]A4;(\"WUL)HEY![,
MA(E[J36KO5<F>Y:\B]@PDW#O&C!$]EBJO8G/R4==DE(\I$7ASG!-L84`**8`
M&&L#/0Q*`_=[6NL4>IZ^C][JJ0;+1VR](W162I<*K)6^/O=AD[''R\2LR>,6
M\*]A%Y(Z7!$P+[92A_JY&P4,L4\"YA*7D86N[UEX32UTG*M;]IZR)2X9^]MM
MRJ\16HE1^RMBKTZD+$6@M92<231)L(&>&%8A@,(Y]`HGL._15<<=F-/B;.@_
M#"#@:&C0H^^SC5FTWX\WRWF4F31I-%E'=K-9U*\4R'8D2-]L_P`F5P4/?!(H
M'ZGR&J,\W4SX[G%T+I,'J/@C8:WL5SM-UO64D[K#UVZ0.O+"VUS3(6RL`N#E
MDH,OL6QLFJ,IM*;AH]DFV;GE%.TY2BH<._T@SG3.YM)(;KTC-Z6L%H?QREAA
MH./F+-%,&*D@#F)=LWZLDC'N!^0(H_<M.3I_F$[Q[?0,B7[7U$I\+4MSJ8MM
M7Q=I&WIZGS%K>.U659I-^H4E%$)[+6?@M@PK.&DW#CY8Z/MR;(&1%&XB51(I
MQ$PE$2E$/"JGGN/7CSNY&M)/%USRZ.HU=K_P@9UV8=O]C[BV)NN+::TL>G*5
M`W5&MMX2H:WLY&[=Y%(H1,2V4EYD63-!`9%R(N132`H\ACZGFZJE/<1ZF%Y.
MXJ<;=73:]OMMVECU)^[CTMIV?T]8XR1LT\[TUK>\:WAD[$^+))V%M?Y5S)3<
M_9Q,5-5_.MF[]VT9JB8?E6[HY2CFW01I==?M_4>=QX13+QISPC0U#=:[.I[M
MO]EH^OV4U':TUK(1M5C(NML9E,R7RLQ+P<0QF;6C#HJJ),0=J@"*1B]W>)>1
M]&4).#4']='3KV=Y,KTI1X.'ZGV%OK/[O/2M3T[=],P<G;BQ%SV<CMI.PKOV
MCRT56V1LG%RU8"N/I!J^2;PM/<Q?9&L5$SMVR"ZB92\#GE/2\]2_U.\Z\R2=
M9JAE%<\*X!E)TZR7#:^T=DVNH[?C-QH3-D5J[8KN:A:A*TR,@4(2%@HV!B8`
M&$H+APFV;D5<O4R+&.!P[L]&S&_"THZAUO+-^W0>7??%>D][.C]15*^U2M2,
M/L:Z_M[+FM]NDXN=!L1J="KRLTN\KL*Y2*4`,YB(\Y43&#H/;ZCEA2;3^5)_
M.-_H_DP":DD"7=P(CW<>O'T<_P`N`3<`8`P!@$I?^R/]GY0P"B26%(!`"@/(
M\^O&`3)`>8]T/UMSC^,N`3FW]F7_`.FC_NBX!ZX_LA^TO\>`6YK_`(U;_DR?
M[U3`)D3_`(%I^B?^L.`73`&`,`8`P!@#`&`,`8`P#P0`?4`'[0YP"T.6T,JH
ML#EBQ6.X,@FN*S-!07!FY@4;E4,=$WO"@?@Q`$1[1ZAQG+LVI/BE&+;Z"B7,
M(VI>5Q--84J]I$=&(=.&KA9FT<.F:W+-=1FFNNR76(H4QT511,=H<Y#&`Q@$
MOYP@(]>L.S9K^V->I'=G6J^G&W)T6:J]N_L*8\<P4,KVQS,Q".?F1_X%#CYD
MHDX<``H_$X**1>#AR<.T.O0,Y\BS]D>Q&CS;OW2[65+4&29A#M:%,<1*02$1
M#N,40]PO<0O`F`2%Y^GH'X,GR;/V1[$0[EQYRD_>RG*A"F]\6[)B"H*+BJ)6
M2*:GNKF+\P)^4"G$ZPI%[Q'J;M#GG@,GT]EK"$.Q&:7,U";AQMRC@U5["2L#
M,>"K)(\$$HA[B12D*;M["F((D[1[2_#R'YO/'TYGOZ!WFG;C%4Z,RRUJ(ZRL
MG=E#AW2:K7'>1'*D)!*=(5$C]H"':*B2GNG[>WC@Q#B)C\B'7CJ(_3E=GE<O
M-7&UPK.JZ.D[6GL5JM1.O^=^)X8&HE'O23$B8E0'O`G:44@,!$@Y#@`3`P]H
M!T#D>/7/27+K3R2>%?V[!Z:UGZB=?\[\3T5&I@3`2$$"'!0G*("5-5`I.TW/
MMB":R8'`"B/!OH#T'/)GRF[QNG[>+^'R,TN90MR=OBKPU5:UK3/M[RH["*%-
M\"9R)B7O`2$$I#"8JA1$!+P`@<`/S]`@!NG'.:-/HEIXN-U)MNJJJ_$MM:MZ
MBLHMX89]'@4ZBC)#V%U#-D3*@5NW5/[29U`6`QB((G-VG-[H(]"!^=P'3TS3
M'36KLN!157N2.[FHE9@[DF^%/?M]^TJT'#3N*"@%!8>_V_<2$#^VGV'.!1,3
MH4IP`>/K#Z\ZERZ,<4DUAC1&;\G"7\U/U/3J,A+RD1/N,?O*)4N!,82@0QP$
M"<B(I@`"/\T./3"Y='*44EU(?E(+*3?O]NLD=Z?QF[>X42E$>U(3F`#AV`!`
M*43&'M+P(%Y$`]>F<RTUJT^'A3PVI=1?:U3U$>.#=*TS]_Z@QDB\K]I1%3@Y
MC$(!E3]I2E$P@0HJ&%,A``W3D@``#QTS/J-+&_;X()*=5C3'J+..=*5=.MDT
M2@<0[B!]`E,H!2E-W$$OP&/P!^2&X'CGH/&8OQ5Q[<NL*<UDWWD*@D0`I#%`
M``Z212$#O[#+&!),.U,#>V41.`"/0``>O3'XFXU6N'O''.M>)UZV3$%V)B%$
M2D,)CJD[P1,<H"B505`,H!!*4"%[@'D0ZCQZCQF[3\M<+=)).5:]KHL\3I3N
M-5XGVA0[(#D12*D5<#&5(4J94S&]SN%8Z?0!,;D>5!#J'^MD:CEKG:^B*7U9
M_P`-_>'*YM;[622>T!O<(0H"0G814I0#E(1$PE04```Z?)>1`@B'3D<Q?BKJ
M>#HUUG+G-K&3IUL<HHF`0]LISD^$4Q)WJ)]3F$@DY,HF3J8PAR!?4<?B;JQ\
M0YS:HY.G6QWHJ`4O<FH15/W@X,4R8I`/(*G'J0J9C>@FX`1].N/Q-W?\0IS3
MJI.I([F*@`(@@(<E2`5"$`"F!0"))#W%_5F,</@*/'=ZATS1I]`]/)RNI--8
M57B3YES[GVL*%9&`Q50;\>][7=V)'$'/<*HE((%.`N$S_&(=1*;J/7-,K%N4
M7&,8U:IDMI,;TXM2<G1=+R-06'QST=9]@L-HVG56OIW8D8FS3C+C)UMBZE4$
MXXY#1Q!74.8R[AB9,HMS"D(HF*`I\<9YZY5-NM$W[S5^2BEPQDU'K5>]5[S9
M$Y9:Q3HT7]AF&,#$&?H,!>R:IFS0TA*/2MFJ"BRI0+[LA(.033$W]HH;@!$<
M]*S;=FTK3S2,<[GFR=Q4HRE/>J05W#,?VKKIWT\Z>1\"U2E62SB5>QC55Z^8
MQQ$E3F<NF;-N=0Z9>3%(01XZ98<F5@(*`"A?UH`43$.G^MY*<1*;VA+W=X&$
MO`]O.0TFJ/(%.(MDS`/:D511`#%[4R]YT@X*5(O:7N,8.SHF')OA].F<>3:^
MV/8CKCGO?:RE?L8B;:F:2L='S#`YT5E&\DP;R+$5FBY%6PK).D5FX.6[D"G3
M`P=Y#@!@X'KCR;/V1[$2KDX_MDU[V513-UN4P(4YT.#"@*(^ZCV`8A1%$Q.]
M/D#B!.@<\B`<]<>39^R/8O`Y<I/-MDT`1!,5P!($@3(`JE`O85`@B9/N.`<%
M03Y$P"/!"AR/3'DV?LCV+P(>.#R/`?QS9-5=T<A`*!Q4.=$YC)E('Q`H!4S'
M)[@<=H#_`&G^KSCR;/V1[$1PQW(I*Y;*C;85C8JM,Q,]`220K1LQ$*I/8U^B
MFY49&.Q=H`=!T1-TD9,?;$W:8.!RU-I43HD5^19K7@C5]"),#:*;:&;B0KDC
M&33%F^DX]9U')@Z0(_C'KJ+EVQ#II""BS-ZFLDL!.[M'NYZ#UXG"%QUN)2?2
MJ_$[A"%M4@E%/<J%^6^5%$3$32_4%2%,P)`4$R")3D,D82``$``Y`2]`XSGT
MEJ]_32X6]L<'[FJ,[6+H:GAMS:KG)^#J\#=X"2G[&-F+`1D>X,JM*FIBZ3.T
ME8G21]A48-94I%P[PX^CD`'BR?(>"+G.=Q16?]3_`/54GA3VHVI\U&$*F8XH
M)BX<@B3O1[3+/#A[0$#E,!46.'P_2(AG"M6UA1=@XY;W@>E>1:IR\&0.H/O>
MWRB/<H!!!-R9$3$`52)\\*"7D"A^=P&=**CA%)(AMO,H%_D7'8#@&JQ4^U\F
M#A--4J12%.!'I05*8J12%`0!3IQZ`/7)";3JFTR8"Z`'$/<(4XBF`F-\`&%1
M--1+]8(`0W>F<O://X/4.,$\4M[,%L&QZ17;+2J=+S:+.T;#?2+&I1`-'RSF
M:6A&8O90H';-54&R3)FH!S'7.F3@P<"/.<\$/M78AQ2WOM-@I2<2H5,"+MSF
MX2*F0I>5#"8!%,B:0%]P3F`@B4H!SQUXR/+M_:NQ#CGO>/2"2T.8%%D7+94?
MB%4S<`54Y0(`J@J"13'`[<@_&!N!('KQUQY=O[5V$<4LJLI"R$6\!`K!TS=M
MW*?NMODSIN&ZJ!3=AW"1D.]`6Y%.@J`/8!NG/./+M_:NQ$\4JUJZFG]S[QJ6
MBX2+L-FKM]L2$N]>,D6VO*!8+Y)-DV3%T^D)"29P#596/C&K=H8%%E1*4!$`
MXXZA/!#[8]B.315'\[].;%;UN>A*]M^/KUPFJ/7*O:I_6%B@X2=D]A.G3.N(
MQSJ3(F5=+OC5%#*$[B-B"913L`>L>7#[5V(GBDE1-T.QALM>;,"R:LS&MXQ0
MGN)/3NTDF9R&!%45$UC&*F8G#@@B//03=>O.6VM+Y[:A"K6Y&;57)1BG5IM[
MPXME89I-W+^>BH]NZ5*BP=2+YNQ;R"R@F!,D:X=J(I/S+$`#$]D3]Y#%,')3
M%$>_0T^K@;2QRRZ]WO,?G7%5<;IU^U2)]9:ZP7:,'LW$LG<@<Z3%D[?-6KA^
M?W`2,FS;+J)J.S&./``0#=P#R'3KE<H6MD8]B*IWKKQ4Y5ZWXF-[&V#6=746
MY;"M*[AO`TNO2<_-JL&BCQ^#.(:J.10:MDNT[AXL)`3;I\AWJF`H"&5^7;7\
ML>Q'JZ><W8CQ2;?7TFFM.^1T/N&&^_E:7>]9QAH6&G&[G9;6)A&\HVG9!\PC
MEV"J,_*"F1<&0'[%P0X!0HASR/&W1QMIR;BJ46Q=)8VWFS<I+G5ON\M@/9X0
MT*D0%#3`S#$T<1`P=P_\?\P+;@Q0_-`_(\>G3-EZ-M6I-)9/807$FQ]=IM$9
M5W>:>E'NTCN&,FZL40DR=MVJZC99RS?+NRMW""#@1(8Z9Q*4P\"/4.?))*V6
MV!1(5DS>REPJD6WEN"0[F3G(QBVEE5>T$0CUW#E(C\BAU"AW)"<.OKG/!"M:
M*O411&!1&W:^^?[%2L;$*-$ZVGHZ'4LUIE8)I"3B<I#MI9&8C%0D%%8UF9-X
M!2D=`BJ<ARG*42'`<CR[?VKL1*;C^W#J*)[NFG)[#U?K^,YGQVE&7"2A+5`.
MV$C66X49%G).F#ETFJJ0SYVE)E$H)_&4`^K'EV_MCV(ZXYYU=>LSBXWRAZ^0
M9N[[<*O3F\D]0BX]Q9YF/ATY!^Z`2HL69WRR0.5U"_ZI>>`]>,>7;^V/8AQ2
MWLU1'>3>I9':UWU!]^1[6:U]1(+8MAG'DE")UA&NV!9^D58CX),YB';HM@.L
M)R@0"'$0_P!;'EP^U=B(XI;V6#9/E]X_ZVU]$;*4ND!<*=8+K6Z$SD:1,UZ9
M:*3MCFTJ\P!P[-*MV"*#5\(>X83@8J9.[\P.<UZ?3PN)M1C@]J_2@<F\6ZLW
M`TV[JQ]:R49CLBDR%V.S2?I55G98A>QN&:K=)VW<MX9%T9\LFNT6(L3VR&[D
M1[P^#KDW+,86^-02]R_B*EH_S_T8/WFH.X]:<PY'7WR)KI`@>,*P6>H/"2'<
M]`S8S-RP7(H0_!B*)F`0YS,05DQMW4E>AHJTS6PZ?%U^?,5*%L#NQQ:$7+@=
M5P',=(&<@@\1(LBIWF(82$$!$PASG7!%;(=B\##+GMR%5Y58ITR]WZ$FR[NT
MY231I+?LNDUD995D,9]_6.-C_G1D5R,XUPW.X7`!:R*YRD;K\@DL)@[#"`AG
M$N4PUO\`6Q^G#Z71=E55]6PU6-6]=#S9+A:?#3JQKWFLF?EOH]"W[@JL]<J_
M5QTHTJ+N[V2>EF#*/`ULCCR"/`JG*N5%L':`'*!DS]WP#P&63Y);T5M:CBXF
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MQA(`B`"`#Q*T;UO]%-JF.$N'+#.JWY!8F#S/EMXSURIU.^S>Z:+%U"_BZ+4+
M"K*&!K8B,U56SY5C[*!W0H,W")TU5#D(1-0O:80'IC\$TW25QN.?]3W_`'4?
MNJ2TDJU1;J9Y5ZUNWD`^T+7YF'DY6,UE6=EH2[&:1>)3,;:W:R,6DS9)HD4,
MB+)(%?F.B9Q'M_.Z97P6_MCV(XX8[D2MD^257U5L]U6=AS5-IM%C=;K;`EK9
M8K&]82T>3]JXVJ)'=5DT>5NK61D)ANF,@9TD"2YPY`2E,./+A]J[$=)N/[<"
ML;^8_C(XU]8MJ,MPT]W1*I)I0MBFBGD.Z,E'13GCV"D4I'EF5G,LF03LBI-S
M_.)!WH]Y>N=*,8_M21/'/>^TP5UYLZM4N=;&O3U;L>HY+4^V-F6G9\;)N7#*
MIJZJD*^QD8%Y'-V1UD7Q6TNNJX:K$*[3]D?U?IG56.*6]FY[9O\`T_46CI_:
MKI!0;:+IT+L5PJ[>&9$"G6.0&'@IKD4R_,HRLH(-T$2=ZYEC%+V<F#F>.>]]
MHXYO.3[6<_U+SLU'9";LM4A,Q\1K+64M2(:+M!%IES(S,O98=%^[KB]2^YD)
M^+L[9RG[?W<*!WG8<%13[3<Y<N1QU<8ZCS9*5S-<;2C3"N?1L%:XLZUU=M:@
M[=JK:Y:_G6\Y!.5#MA723>(.&KI'^T9OV#]NUD(]VF40$4ETDS@`^F43Y=^/
MN.'$YIK.K:]U6PZ4P-B_,(_S_P#LF_V<@Y(R*$/SV#SQQST$/7GCU`/JP"/`
M&`,`8!*7_LC_`&?E#`*5`Z12B"G'//3DHCTX_``X!+DG"(,'?Q]`;J#^:;T`
MHB/^K]6`5+,Y5$4SD'DIDD#%'@0Y`4B\#U`!P"-Q_9#]I?X\`MS7_&K?\F3_
M`'JF`3(G_`M/T3_UAP"Z8`P!@#`&`,`8`P!@#`&`,`^&'E_/[S'</E)$5^^Q
MZ,;$*^%2M`@2.[!"GA9*Q[1;L4_GGK.:01+&S4ERG(J()D.LV$4_4,DS7/[;
MTNNGZJY>NQG/8N&BIAAAT&T+YY>>1.L)6VZPF*[KZ<VFAM37%&J]HKT)=I:L
MJ4_9=*G+NE/?L7'.WUKFI^"/6GS(C1!4IUC&;F$#"8W,MMY["RURJURU<5N<
MYN>#XJ84?1UG5/B?NK9VX*K=D=K5D\!8Z;;U:N9V:I6:DQ5T@G4<24CIMA5[
MF5.PPKT\8I_Q;14YC)*`(``<YR6G(M5T;4O)E7R@V)NN^V^*OE'W'L?7=6F*
M]?YRC1.FJ/1(]JWJCF-@6LLVAVBK6-5-*/74JV>?-F*;GX"E#`,BDO(+?$DG
MLY32=WU1:Z#XY:NH-AF+7L*O6)_9=O/7]2FK3+RB+Z)EH-C5(M>"A2@FZ%BL
M#B04.!`]L0`O7%*E#-+^VM-J9>?<O75*ZW*GTT5=BJFZ&!RGE9Y/V&2VC<==
MOM/0=,UO>-*4QK5-@0%H;R$NEN"#K+P3OYMFZ9H,UXU_8@42(FF4JY2)E$Y1
M$>Z^SJ)6HM<,6FUG7#JH9[G]G:>4XN&KU,*)X)0H\LTUV&2R'D7Y2,9!#5QK
M1JU6^L?*ZMZ.D[TUJ$@$(\J5NIO[7-7S6GO;`B];6N/2.*143._;<"4#E`X<
M@;JYS#RXN:M0DULK+''+!U*__38J'$]?JDJ;5:_Z"FF?*7?)U7FN%;G2(+8-
M0LMS@;`_UOK>T;>N-WC*BO7%8^Q4R@-I1O%PL#(HS9TY-R]>+"R62$I"AQSF
M/\_)3;>GLM5RK*GQKWD?^F0X$HZW5Y9_16GOC\*&+0'E7Y.;4J_[44^UZ[I+
MRM^.Q]V2L3)5!U/!/S4)?;/6EX%=TL_[JG$V1G!I_,`8ZSABHJ8H*\$[LK?/
M+C37DVDNN7C\34O[5T\*/U%]SW_17KRV[:=E#9CCS$V0UE*WKQ)2*8[!W1*Z
M%L.ETCL4CL%J9L@BSJ_,URE64^\7%(/&.B.5A'H15(0Z9W'62UB\R48Q:PPK
MCVE]KEMOED?*MSG.,G7ZJ56S8LC?GG7^U*NI:>%/E6T99FF]=.FB))TS,]9(
MG)9V)S*/8]!5`7C5-/N.*0&`#\<#R'3+;>MGR^7JK<8RE&JHZTQPV8[3JYHX
M<PAZ6Y*482QK&E<,=N&-#DNY>1GD%0@NFK)K:;"=VA6-P?LI%2M&TLXMVQ[U
M5'E%&_-6M<U@R?,:HA.-BO"$%VZ<%0.R15Y3$Y`4'G_V&2^E:>SPKIGU88U[
M^FE3/_ZKII_4[]^KQ_D_14,'=^7/D]+:JJTG!2$DTF6&Q=N5BX3-?UK2;)M.
M1A->@@YAIMQJ)S='\:C&)%.9"QDCEU'<=P"B14PZ9#_N&;;KI[/#L59I+JHT
M\=M6R?\`U33?[]^O_#X'TPU)LYWLCQN@MD-;5&V&4FM:2TX>T0,6\A&9YE..
M=&75:0<HHX=1:K-RT[#H*'4%-0#`!A#C(6K>L_K.$8;*1K3#KJ^\NMZ"'+D]
M/"4YQK6LJ5QZMF!\Y8+RI\A*91=9[*L^Q8J]K[9\7-N[G:5J1ID9'L*G:]:Q
M5;7CW4`I!I,Y.2C')[(=:31=*JF,V;"9,2&`1SF>H>F@[BBI;*.JSZL358MJ
M[<X)52H\CH_0VQ-HP&]J5K&W;PB/(2$V;I63VF[FXRO5J,?T"9:OH8&RR)Z\
M/"%$LZ<NJWB0<]SD7+,X&,/4,XGSJ[-*/EVXQ6YR[&JT?O-+TL5!RBY.6[W]
M1B7F=OC8=0V&K1*%L>ZUEY7M4.;[,0NOZ[0U31I`DWC-G8;K<MES\7#I1+LK
M0H(L8])9^<1,/4"Y$>;SA^ZU:E)[ZX5V&)G.%B\M]XQ5Y@KU8-KK1.GFU9T%
M.3RU`A]>W*/@Y"\PS%Q98;:]0DG4/?VC&[NG(&C)"",\1(F41-Z<Y?'^X)PM
M^7Z:PUO^JJW4==FS<:[&FC=AQMM.O1L+K3O)O<L3OE9E?=F6IU"W>Y;EI&OR
MZ]CM<7;4CUG7XZ8<4F&?EBE";$UQ<JNTB#GD5'Z+MHY53$#<`8H9,_[AG=@K
M;T]FB=:_55O>\<V+^G5J'$FWCT%]>^6VQ9&@ZX0BMYPI[W(>#VV]KV-E'(U]
M][]ZK;*.-&3KE:.(8L2K'@L/8W[$"*CT,!>X1"A<YEB_)M-MU_F\??B8S$MZ
M[*V]06<#7X?R3WG:+&EI][NB=%N]T-KB%8.IF*;/H8;)<KC[348ENI'KBA%Q
MK9PJJ8_MG.;G.USN<77R;5:?XO$%A4WWY`;!UU9MOL_)*<J#C7/B'J+?;>OU
M.)JDA7+)<WW[3J2Q[`#E@_\`>CY-&)(FY;-5T$?<$YB@F;CMY_-S6'DVJ?\`
M%MV9FVUI8W+:FVZOJ-YGW-:9&[638<_Y0OM73%4F-?PU2T*^)6W->N["VUF!
M?M$7=:2;N[A-2MY?R2@)/&;CV(_@H%*'!ARF]S:[>A3R[<6GLKCWECT<,JR[
MC3GCWY(>1MVW=INQ3>P4&$7L>]V6O6_4TOM?6ZD!'Q<8$LV<0U8UE$UUOL*`
MDZXHQ;JE>/G`_/JJ']PQBJ%RF&MN.<52-&U\3B[HK:MRQE7A?ZG=OG1LFQZ`
M@:1M^.N%FB*XS5G:%88Z)CF<@W=35T@)%AKR<?$49.%$2PEP,B8P@)2B0X@/
M7C/>6M:3B[<&FZ[?'+`\#\?#[YUIT>!\]0VWY!V2CO2W2_R;R6\77^I]7;>6
M2CVZ2.P=N7C;]=>N7QV;UNHS70B:&JT4Y,F'RZIU#%X#CCQM3KKGGS:A%1KL
MK3(]K3:*VK,(\4FZ=!75K7T+/S^K-?QNV;JTEEO.CR$_:-Y!7&+D+/5(D]5M
MBRC6"=-&2SRMLK'$&`$A,')6A@%(0,`CG6FORO5XDE3<<ZBPK+7"VXO>?3WP
MNL=GL&J9V.MEED[D]J&W=OT!A/6-<KR8>P5+O4]6X%.7<E11!T[)&Q:`*G$A
M3'.`B(<CFHSGS@N]AVW4-3,;^^W]LB9:;*\DMEZSV%,S-\/0:7KVJURR[";P
M$?'3J-8ED];QGS\:U;.)(4#^X40`5"<$'`,%EMN[H+IVE_M%O:,D21VV-@-:
MI(0WD0[I#Z]U:O4QNX=0LAOS_+MG6)R=H3TXJ-2.A(SG@.5$%CJE$<P7-7.$
MW!)43Z2:%RD=M-;E;6CG8OD9O/3T%&>&-7OM#@7ULC:Q)63:);]?8J%M$XG7
MXE2(M4\5[!-/:32`[=\503'(!0[1OT]Z5Y/B25""R;!V[OA]:)N9NVVV>GMF
M4JI:=D*9`V;8%V@'R(V&CP<M:!CM55*B6.'W`E)VQ1=)\F4SDB1P*B4B:8B(
M679NW;<UF@;HC[:R=;%FY/;NZMQUC?CO=S^DQVE:-,R#F/>:[:M$8N$;1%`2
M9LF:%"DV$DK*NY\B2BZ"I^PIBJH]@8O6SI^U5)H=/?NY&556\2*;7V4W,R;M
MNSF8B]Q[N6=.I6IV0D]+M9&(!N02JU9R+54J@($3;J%$PF,4IPX#?!\4%)YM
M(@^?NJHG7\'3]7ZDN&U-ETK4[#9WD&TVK(I;0GH^;K^S(>W3KC7U9GK/%.EI
M*HQ-D8J&>$#M3!\MVE$1,)@'H'U4\,YNY6?2*2MNE;%/,/VQO4!KNT68HA8K
M?JYO-O6M(L\ZB<&KI)XXCVBA14[4S+$3*N``!ARN[!W(.,9.+WK/O!\N/';6
M5(M-NU-J1.8O[*"93'FG'WJ-B;C<(IZPD96T)O643)3JKMD^8,I1ND==)JBH
M5(X*?$80Z!F])>__`)%W_P"/@#6]KDK;.1U-#9.R)N)IU6U!9VVK9JT+;O0!
M*P5V]62$2F6PZG.P"TWV/B8QN5NU=M?:5$.`[N>X:?6W(OAHG3KQH>BM%!JM
M9=Q?[@^V!';*UO;;O9+'LK92==T.5&CKL]O:5NDB0CD(^3L&EQ;+OJ3;AD&R
MG,U'2[9!81)RJJ`&``[CS316UPZN3A=V);M^/O)]%;:PE+N*PS7:`^2LQ.+6
M5.O[U+OTJ#*,>5S>UBV&EJ]&10-%QT;!1SA#2TE2I*O%4,]=E0,+<_!@$?3+
MK7,-!J9^5IYMWLZ/<LRF_IH6K?'!MY;J>)](_P!X8I`IZFUXI:%[<RJ"V^M9
M(VTM*=VQ&P*55^M)JODDD:ZD246*?VP`R*?<"8=!]`#-1C.&*@VF8N<JLGJV
MJ7NU:.K&T]V*:%%V6?/8VE5#QX,UGX^ES%AC7\Y$PKJ["9&+>G12.LH`=HF'
MGD#D[78S2(W%*K5Y^W_;SQ'WHTNKK7M9\ATG#B^HQ%7/#5R\;!V&Y&&FMGQQ
MI%;VE8;Y8$5DS`0.!XS%?U4[-S@BDU0VV--"[;XVVG7H.F-H:-9ZX@MG4NH,
M]HU.IV[QBT#;;BXJL%<+^^D-B1&S31[Z9MA59H[^>:.H=T0MC;L?^-,Q45,8
MHG*0Q)T^IG=GP226%3F_IX6[?'!MXT^)T1^[VNC:AL+Y4I#7TK3X"9W'!T^@
M2M8B-REU[;7\A69B;D7U:INQ(M2:UI7X]Q'BF],L<(Y5T813,/)1S89#ZJW5
M%5W4[(BE[X`:%F!!!F)B.5S&C7W*#;VQ`ZJ[M0P%!/J!A'C`/D?):R?VC]W_
M`.#M!LU*L,R+;:/CFSN5>;MIIG*1T>WLDBG*G=-F*R+J.28@Y*#@W)2F;'.7
M^S$``#FW=&G9ZHO9NA1M7?1/BYKSRNE45J;):TN.T:O$1TWJ^OK5*S)U.+FV
M,K:-?LK&=0B[9-R8B2ZI3<`4!SBYSG5<D7GZ6U"[.Y]+4JT2SJJ-8U->DY=I
M^8RE;U$Y04554IBZTIBF:@L^G7+6@:LL$Q3]FS%89P^[HFI5N\^-UOL%!+&6
M)S&RD;4H/7]8MKS8.LIL?97_`&>E'*R1FJ!CCW\)IB7/<_OGG%VW*V])ITI)
MK#CVJGW&]_VQRFM%J+M?^'_I,VVSK>^V"02D-G4"\TR_7/26E8_2;2L:;F-\
M2U(M=;C5&$U5(6^'GVIZY.P4Q[3QX9R(%405`?=4[#%SP5SOF'^S#_Y>)#_M
M?E=<-1<:V_LP_P#B?7GR)HEEM/@ML2G3[60O=U6T.Z;O&)V@)RL_98J"1.B*
M+%D5Q\O,GETN03("H>_R40/Z9]#I+MR_IX7;J4;DEBELQ/*NV;6FNRL69.5J
M+HF\VM^&'5T'SQLVC9=V8U!8ZLF6M`=1'@L$A7D82495E68A[0[/>"NVK-I'
MNGP(>VH:2$3J%X.7N*4!Z[K-Z5FKBDZE9=M\ZRB->/Y>+C-"OY#3T/OZ8G54
MHW4E@VG5(&+L.NHE*-?1&J:](0D5+-Y*:?\`MHJF`S-B)`.<`,)Q'G5Z^]#2
M7)1C%S4&UGBZ'5N*G<47DV8#XK>.TM8K=IF&W)HFU.JM6'GE?(?=%UH$?`0<
M$:P6"OR=&34KS)XO!M&\DP=&!LT1X1(+<.0[P$<^27.^8[;$/_EXGH/16TJ\
M3[BBK6IS:ZK=2EMQ>,.P=R4V7TY;]-T*I(P)KG^QEV1VG,D9QLA'.E59"F?M
M?%N$4F<PR$A(]L3D1Y`!SZ+37)WM/"[<2C.44VEL9@N14+C@LDRODM.[0IC?
M9DH[\:Y2(J4_=-'2+5BE!'\C34QA5M+LX8\A&:ZE7$%'[#DZY*LP8JNG/>BT
M`Y3G(J<!,&'F6NU&C</(@IJ5:UKA2FX]'ENBT^LX_/FX2C2E*8UKM:?B;S\/
M]4;4A]D:VL]MUG>ZNA';E\FYUZYGZM#5=`M9V'4*T6K3"T17'WW#",WTHR6[
M&B*0F;F,!`_-',FDYKK;^HA:NV8QMR>+5<%3I9IU?+=#8T\[MF\Y7(I455BZ
MT:P78;9_>(Z_GK)/:HNM?IFPYYW7XF[UY>0HFN*ANIFNC:&K5JG5[5JVWH"@
MK$2"R0+_`'P@NBLR%/M#GNZ?0'A'%4OJ39D%^UR4IX<1;R>VIXBZ4KJL?6J!
M%2=1@7VN+R_6M<)*1?WPP,QLL94G+239Q`O#)G<(`UY4*(`/S=[F_,+=Z=N-
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M0571DH#R$W]=+L\D*Y7';6-@+0XV6=G8IE)0G_WZ2M)WS;Y4ARF5:G,!A*`<
M9ZIB-3!XU;NK=:JZLG0KU)QL`Y\@ZLA4=:&U)+S,)%VC9,U,TX&;39/ST?'P
M<K7A505<LSD6;)JF'L-V@3!L6JLI4=BTW_Q>)MO5?BE98B-V'$7G5+J;?NO#
M2J:WK,_;YR)O4HM,-7UQDST%S)`W8MG"T"]<QBB#E)$B:`I@"2@B!LHNV;ER
M7%"[."I2BI3KQ3Q*+UR%V58PC!4R5:=>.TU3>=!;<1J4K!GT'<;5/S.K?&N8
M=7:E6>JQ%E:7K5,0I7K,SBY:=*JA-W5A,*$>M6[Q)1D^9D.0>#!W9S:L7+<^
M*5VY-4R=*=R*CM?P.UYN37]`NB>UXXL6XGM@/)FLIR\#3JY?Y6*6;QI'4WLU
MCKX$JJO9W+QNJ'S*"::JS0B'N@(@'.D''UG\>MY,Y1GJ:(T(>68-O+%7=9?)
M$\]22E0ILU-2$JQ>@@L[+:7$_7/F0140$WM@@'(`(]O:!G.O-(;=6GO&S7$]
MH]&JH>/&RYNZSV^59FF=MZCX]O/$8HU*+A'BUP>/;O\`>"`R)794VQ13^(QO
MA[0.L=^ZJN-XW=XH7"&K$3,5_6.QKI*6E^]/&%+%1,O09.%CG+9F\51%=PK-
MNBH_!W*`F(B4.1$<KNPE<CPQG*#KFL^K$''5,TAY"Z3G6%[B-.1NUXR0@-WT
M-6@_ME5860K[6R[.GKG3[!&NY]PUC@93\*]2)(E!RHN"1Q*4A#<!F=:6ZGC?
MNM?\/@#8'BUH3<NB=Q4!U9*C'3%<>^/471+C:H:P-%65'O$5<+!:%X-O'/$0
MDY*$;Q]D;,V:J1_:13:F('J&;`63S7\8]Q[DVL%KU]68R=A"Z(B*$=L]F(Q@
M5]8&GD'KN]/(Q1"4!82-3UF`?.RF/RE[A"%$._GD"JV?XU[C=;AONW*M2:C;
M(V)N7CML&L429F&C`FQ7^NJ99*S?HYX]5`8V-D8P)@H,%'J1D3KID$`XP"CL
MOC3O;=C]Q8[50M>::-=M2>3](G8*L2;>0"N+[*BZTPI)+DZB$6\=;95VZB#+
MR#M)ORD4QT`Y`G4#&YCQK\H=PKC=K5K^AZ]FJ'0?']AK"HOK0PL;2S6_0][<
M6I6.NSMBS23CZ_;EG)_E$DP%-$GM"N03DYP#R\^+7D#M&1NNS+#2:92K(]W/
M0=D0^O:OMJR1<E/PE+H$K29AI,;@K\<T3@KB]6D$7C1U[!TS?+$(8X>V.9;F
MGNW)N2O7(I[%2B[4#M'P_P!.3FH*3;RV*K,:9*W>\/[8O7FNPI_:;YF"S1LU
M*>?O%@<*JS$TO[(F4%N1%N4HAP7GD<[LVIVFW.Y.:?W4PZJ('6N7@K&G_P`3
M_P!S_P#*P"LP!@#`&`2E_P"R/]GY0P"V8!;I<PDB9(X!R)&+DX!]`B5(P@`_
M@'`+S&!VMB$_N@(B`_65),@`(_A'G`*EQ_9#]I?X\`MS7_&K?\F3_>J8!,B?
M\"T_1/\`UAP"Z8`P!@#`&`,`8`P!@#`&`,`Y1V7X=Z7VOL=?9]P@IU>Q.4*D
MC)$B[=-1$/834"8)/TM:>@VKHK"0<5N72*LT4'M$IOSBB'495#;;U'EVU!-=
ME=N_Y%7=_$O4>Q9"^R]HAIU29V#/4.UR4Y&VJ8B)R"L^MHAW!5*>ILLP>D=U
MV2C(YXH7E$2$4]PW>`\B&'3857[L9QC&.2KLH91I_25.T77Y6NTIK*&++S4E
M9YZ:GK!)VFT6:Q2A?;<OYFP3RB[]XY$@``G.<`X#@H`'3(,YJW9/A5H;:MRD
MKM9X"S-).?8(QMTCJQ?;-5:ULEJB`%(AL"OPCMO'V1-1+N3547(98Z1A3$3$
M,8,`JM@^&WCYLVP0]CME`6.O%04;5U8B(L,_!5><K\'[;>!B;96Z])1["SL(
M1``*S1=)K))(@8I@`!$!G#WF^UJ5;@HUP2W?#VZL#*W/C)IIQ_F`!ZD7V=G6
MRHW6Y()OGK<DK-T;[N+6P0;D.DC'QL<$.W!-%/A,2E#IT#B?I)CJDJ5>*6[X
M[WV&DMZ>$53VY-UIW'MXR/8R6[*IMW<@NGE@2E;H[I];>P$$I7WD?(D^XI*)
M(ND=!0H$$HHE`!`,IU$'.S*$,9,L6LMT=?=@^_I,V?\`@YXX2D+4H(^M$VC"
MCGEE88\?9[)%S*_WXJ968;S$PUDD).4"96`JKD'"JB:AP#U``SS7I+U?VJG6
MB%JX;98OHP73U=YE54\4M%T>#>UNJ:]BH2'D=?+ZO?L?G9)=-2C+OG\JM5R"
M9RH(1CJ1E%3K&`04$>A1[1QZ2]L7>CGU4*_4ZI/=[8YT,`8>*:)O(:G[0F"T
ML->:7UT>D:)J<7!K_M'57<JW1;S4F_L#I;O,D@@@"+1(A3]J8]PCW"8,VZ6U
M.U%J>UF747(W9*2K6F)U-;:;6[VPCXRSQ#6581<Q$V%JT=%,9()B$>(R$2^$
M4SI""L:\0(H41,!1$O`\E$0SO40E<M.$<\/B<V9JW<4GEB:DO/BUH393B:?W
M;6D#.R5BG6=HDY,ZTFP?NIQC%HPS>0/)1,D@Z((Q"!6ABI*`4R'<F8!*80'`
M]+>=6TJOI^9K6JBJ*+:BEUU[MG28H]\(_%US5FM(/HZFM:BSG9*R1\1%$>1Y
M(NQ3@`6:G(=[&.V,PSE9XJ9"O?;7*FN4O*@''GEZ2[]J[?F2M4DOW5?52O0\
MU3O.B8BH5.!J[6G04,RC*HPAE:\Q@8Q--!@A#JH%;*,FP)"4I"E`#=P]W<8Y
MC"(B(CF[3VY6K?#+!U\#'=GYDN)XNAA372&JV"E2.UHT`#>@U>4I%1CCQZ:S
M.&JTZA\K.P[9)P+I$T5--@*FZ(H3]80@`;D,:B#N6^&*JZHBU/@G6M,*5+?J
M_P`>]-Z85G5]6:UJ5!<6!1LI)NH&.]ES(I-'"KE&/666!91"(37/WIH(&(@4
M1[BD`>,PK2WDLEVFN6IA)IU;]V_:OF4U]\>]*[5L-=M&RM5TR\V*I(/48.5L
M,.FZ,U9R'<*\4*BAC!(11!.80;.T540./<4`'D1R*Y'=+L90[%Q;NU%.IXQZ
M`?3U.MKK2FOCV"A-4VU)DU*W'BM66;,G8S:,0*V]@Y6(<@W!0#>R'`)]O`9?
M;LSNKS(1^FNW#N9;&Z[,?*E*CW+'/I\"]QNB].,[@OL6(U1KR.OTA\\L[MK:
MNQ"-F*I*<?>+I-^I'^^DN^-T<="&7[A[Q'J`V>EO?:NTKNW8SCPJ3>.U%E@/
M&?Q^J;V6>U_2NLHF9FVLE'S3V'J,.Q<247,@)Y)@]]MKVGCY$AOUZ`""*IO]
M7D``(]+>2JUETE&&6TNUHT)HZZN:N\MNI-?VIU2V",15E[%5F,F>#C&I>&S*
M/^=0=\,$.X?;1-\)!'D``<RJ['<^R1?Z>YT=J\2\LM4:OC4)AFPH-9;LYV,;
MPDNU"!9F92,2U54<LXU9OV^V,2T67/VMNP$B]P]I>H\QYD-TO^5FJW&Y"VHU
M6#KFNSIWD+[4>L9BU0]WD]?TF1NE;20;UVUR-2BEYB";-`*5HC$/3)"Y:D9E
M*`(B!@,EP';QQEMJ,K\FH)U2VIKXB=SRX_5A%[$TZUWX8>X\B]2:G@K>YV%$
MZZI,??WPN&[RY1U5BFUC5^:3*#A-[+-4".`.]3*!>1/R<.T!Y'-,--=C)2HL
M&O;,HN:A33C5\-,OG2O77,SB9B8":9?)V6)BII@=1`Y8R:9-Y%NHX(<#M0^[
MG:2Z2KI-4`,D`D$Q3!R7@0YSTS&484VJG2DCM*M6P5DI%&6?B:+:%^\)=H5,
MC:3E>4`.]DVOLE*597N5(!``#!P&>=>T]R=R4HI8O>:[5Y02BY-1IC@4T?KN
ME,)!>90I-6:33MR#YU*,XABD^6?^P=J+\SQ!L5S\\9JH9(5A-[HI").[MZ9;
MI;,[5>-4K3:<ZBZKC7#)M+HH9"R@XV,16;1L;'Q;1=PY>+HQ[1NT(HZ>*G</
M'BJ:":8JO'2ZAE%%3`*BAS"8PB(\YL,Q3*5BLN8J3@EX2*>PTP5P$I#JQ3(T
M;(`\5,J]^=8G0^3=B]65$Z_N%-[IA$Q^1Y'`+"6DT):#9UH*G7EJ_#^R2/J[
MB"C/NB,%JJ!T2,XU9H+%F*"@=Q13(7KU`>N>%?N15^:I+"3_`)7\:'2H8"WT
M#KU+;\IN-Q'&?V&1U[7]9),GS>.7@HZ`K4W(6-@O',`2$&:ZC^1.0XD*!A+]
M'`B.;=!)24Z5S6::W[R&;55@J\_=QSY[&0[R9BS'4C%W$6T=.8IPJ/>X^Z'3
MIL=PQ`QPY$4C$$W`"/7-=Z,IVI1C^YH@K!AH_P"=1DC1<>$BDD9LA(G8M`>H
M(',8YD$WADO?20.H<1$@&`HF,/3D<\[TU^F7>B2<A&M4!<`VCVC<73HZ[KVF
MB"`.G8EY.Z<"1,GS*YRCP*INXP^G.>I!-02>:2(*)2"@W!7J2L-"KIOG"+B2
M*K&QZB3QVW/[K=>0`Z`E=.4%![R'5[C%$>0$!SH%^,D@F@4J*:)12*F"142)
ME$G9R4I42D`.WM*H8``..AA^O`*)@TCVBBIT(QNT7<K*.EUT8])N9598`*JL
MY622()G"H%^(QQ$Q@XY'`)R:3,>Y-)%MVHJ@IP5%($R+&.94#E'M`@*^X83<
MAU[AY]1SSGI[O$VDNXN\SI?>#)-P4.X%!$ITBJ&.X,0A#%(;M%4WO<!\(@0!
M.//T!SZ!E4^4:?5/S-357,L-WSJSI7%2E70M+-W'/2E=,%F3U-(H$3<,C(NR
M%*)3`5%!RW]Q(1[0$.TA^GIQEFDY-I-'?\^PV[B36.YYD:G46HVL6Z56QF%7
M>B479S:OM+&D9X6I6Z&M4.+!<Z!V]DA#*C&`N9N`&%-J*A@40/P40'@0STZ'
MF^NTSRDZ]3\#8:"B#D!,W4;K`B(D$4.Q4J)T%#)F1`R0'*FHW4`0%,![B#]`
M9!K)Z!$4_A(B1(`$P]P(`@3N-T,!1$B8=X\]>/7,=^U<G.L<BR,DE1DQ(6Q%
M.X42I*!WB43(`0_)A^,Q!`O<(&YZB'KSUR=/9N0G62PIX%=^_"$>*;=*]+)I
MG37XN[D>X`*;]2H(F#@1`@_`/=P!AZ?1SFQIK,R^LT^]U?0_`E.56X$3Y$"B
M)@5()DSE_-`1`Q1$GYP"/3Z?JR#46M>08M6ZCE99-)!!,[DXF3,G[9&Y#*'6
M[3D)VBBF01[NG`!ZX!4D704*B)%T3D<)E40.50@IK$5$J9!24Y]M3W1X*``(
M]W3C(=NW<5+F1*G.&,%5EOBYJ#F5Y((F4C)5Q#2'W9-)Q[QJ\=1DJ@D"XQDB
MD@HHLTDD6ZX']E0"J`10!`.#=>?3V%BFZCS[U*4P]Q=E)*-063:G7;IN52N#
MHM143*X5(R4(1P9%`3`HJ1N90!,)0$"@/(\9'D6CGS+NXEF.W]PY">T0`.<A
M4Q`I0,/=WG$A>.#%%7D1$.@G_#G:BHKACDB:MXRS(B_"(F+P4PAP)B@!3"'/
M/`F#@1#G)!""91,'8FF!Q+[93`0A3=H@4O9W<`($$I0#CTX``^@,4C+Z9?M9
MU!I33>52H2;J@!@,0.![>`$2"'01'TZ_3D>GTJRQ]QJN7;<J4?Q*TJ28%+RF
MF`@4"_F%Z`!N_CH'IW]?MZY-$L(_M,DJ-X9`44@[>$D_A#@."%#M#@0X#H'`
M"`B'V9S*W"?[MA'%./[=IZ!"AP'8`%#@`#IV@`>G`>@`&<JS;BZQS1''<;Q6
M9&!0#D````?4``.OVY822@23`3"5(@"8XG,(%*'<?@"]YOK-VE`.1Z\!QE;L
M6GB\V1YEU8*M.LE&0`!Y32(41$QC"`$*(F/^>81XY$Q^.H^HYTK%C-K$MMW&
MU29X1N`"0#(I]I..T.T@@3L`P$[0X^'M[AXX].<GRK,?J@OJ.ISBXT3Q)XH(
MF`2BBD)1YY**9!`>X!`W("'`\@(\_;DE)$*:9C`8R9!,`E$#"4HF`2=PD$!$
M.0$HG'CZN1^O`/>P@F[A*7N`!*!NT.[M$0$0YXYX$0YP"'V4>2F]I/N*':4>
MPO)2\"'!1XY`.!X^S`/2I)E_-3(7H!?A(4/A`H%`O0/0"E`./J#`(NTHB`B4
M!$HB(#P'("(<"(#]`B&`>&(0P"!BE,`E[1`Q0$!+_-'D.I?P8`$A!'D2%$>0
M'D2@(\@/<`\\>H"/(?AP!VEYY[2\_7P'/H!?7]$./LP"$4DA$HBDF(D#@@B0
MO)`Y`>"CQ\(<A]&`>&00-SW(I&[AY-W)D'N'XNH\AU'XQ_&.`>BBB8IB&23,
M4XB)RBF42F$1`PB8!#@PB8`'K](8!#WHD.(?"4XB`#P0>1Y$3!R(%Z]3<_PX
M!,`A`'D"E`>X3<@4`'N-^<;T_.-](_3@'@)I@<R@$("AP*!S@4H'.!.>P#&`
M.3`3N'CGTYP#PJ21`X*FF4!$1$"D*`<B/(CT`.HC@$783^:7^B'\F`>@`!Z`
M`?8`!@'N`,`8`P"$PE`HB;\T/7D.?]'7`*)F01%P)@`2BH'9SP/P@4`Z!UX#
MG`+?:$3*UV;20*`+*QCQ-+@0(/>=$Q2AW=`+R8?7G`+C'&`S)KQZ_+-A,/'J
M(H)\B/UB(A@$]Q_9#]I?X\`MS7_&K?\`)D_WJF`3(G_`M/T3_P!8<`NF`,`8
M`P!@#`&`,`8`P!@$A=4R8%$H`/(CZ\_1]@A@')>X?,"FZ5L<I!V>H;&?Q5;:
M0\K=;U!TUZ\HE$@YQ)<64M8;"LX;).")*("9PBR*X701`3=IAZ8!A,YY_P"K
MZ[<;!4I&F[7.VIUTI.OKA>F%$>.=:P%CV(A%.*D=S;U'C?W8A^G-M0.Y2:J)
MHG4[5!)R41`SV$\JZ/9G=`CHZ&L[:>O^Q[QK$(&4C/EI.L3NMOVA6N[RS($6
M4)'QL0R@"+)'[Q^9)(M1+QWC@%+N;REA]*S3V&D=:[9O1HJL+72P/J#46SV&
MKM:36<]RSN9F)J)8R4FBU9JJG:-!47[""8"=.!`YW\CO/9&HZVN<OIFLVVV/
MF%0J,ZAL6/IBU@U_2'-Z%BZKS&Z`279/TW#V"=`[5%),P,TUB>X4>!'`-JZW
M\FF:NQ2:SG75BNMEN&UKK3XB0B:>A$0=<+2*?7)R38.702*IG3%JB[4['1BE
M]U0P]H<`.`8//_O$*>T<5^'K6HMFW*T32]Y.O5XP:_%R+&.UW>'E)F7K52<F
M8I.Q+O7[/W&K2-,Y='*;@Q`#D0`DROFC=*I=O($URU'=G.O]92VKXNJ.X%K!
MEF95Q?&"0E0?-9&Q-@9F<R+DJ9/A."!DC@H81X``+W'><KY234CYKQTVQ6FL
M'?(O7-^G)U[3T(FAV6QGC&]5;R*K.<?N9AK-K2[?E9JD((>Z4I@YYP`V\_Z"
MOMLFNUZO)QM3?6U77]<VF]GZ@>(LE[;)R!5J\E46L\M>(=JH]CSH(O7;%,BI
MPY*02\#@&#'\_+)9*#-35;T/;X.1E=:[9MFLYNPOZR^KUEG=4,%#V.-<,T)I
M!_&FC71152*X`IG:1``O8<X<`66B_O!K04VGJ7:M)S4Q?;C0M;6^\#&W+7$2
M]BD]D-O?BWE3K+J;:/=@I$#XUDXX`%HGP50QCE,."*HZ-\H]U[-U2OH7_+:@
M/[BTNNVHND6YBV?0\<^;1$G#NW2R*2<RY29HOQ7(!A,8YNQ-,X$Y,)3`).>-
M`^8^U$B4.K;7U5:YB*NFQ-EZUK.ZTWE0:M+C:ZQ-6EW$-F5$B)%68CH1Y78$
MR39V<%`<K(G,`CP(8!C5J_>.6AV_V?KJ&TVG";#C-4;)MM";I[3UI8YYO.4F
MN.Y)[^WM6C)AW(ZW59L1.[01D4U!<E0%/DICEX`Z"K?D_;JOX,5;R<O]#<25
ML_RSHUHE*9$3$2\?6A[8%*O#-Y!E+Q_$.T++C,INBD$OZDJ@)'^(AC&`U18?
M//:E7F-BP]O\7'<.74,=1K?L9<-HTR8)"4F^R8LZ[(1*:`)_M)8@33,=XQ3%
MNFU[!`CE?Z+?R/)DL9XTQR]WMB85RGG;HTY4;HL]E:_`J&_DSM*&OVS-=:NH
MM@W1=U=T6M)LSM=UCH2L5NH5B@4F[R*PS#>&77C4WA+5\E%QJ9'JOS!2BHIV
M]V<SU&FU+5W2I*U1+#>LS5:T^ITL?)U;;O5;QP='D:_B/,K?FPK3JFZ:QU81
M\C9]";@L%FT]:;C'UQM6[!K;9\'5Y!XXL(1SPSV5:M&[E$A>2)***\<E'C."
MPW;HGR`W9N/?QY!G68)AX\VCQ[U=LF`=/K.DI:HB4LRDZJX;K5MM&E.N;[XC
M%6QU`=&`Z)`,!2#T!5+%Y(-.2X8_N>"Z]A'LCS,M^O+AOE)U1:@IK+0<173S
MMN<7)RC.SEBN5<92]7B8:NEAS%43<R#L&ZQA7$4RB!_H$!N7,^1TJYNO_#X&
M'\/S^B2;K[S45?\`WD\W*TO9;];7=3?V_7L=4Y]\-.M-GL]!B(&SR:D1(GM$
MZ2ELIII,4=XB(RK1HQ<B")@.D8Q>#&A\RY)Q*DWP[?VU^%#K\/S[.K[_`!-H
MZL\XIW8*^DF"U)I2SG:5UO-,EY6F;!2NM<A#U6O/K#'2C!Q'L$)55"6;,P*=
M%VU;+-SF[3%`P<9Q+5\OU'TZ.59+%Y9>[I+;6AYCI&YZUO@:HNOW]!ROM[R?
MWI<'=^N.ODPJ<]6]4^0==BJFC89#[B56UCN>#K3>[2@@Q'Y==6'54$`$`4!;
MH7@OPCR7G5'F%:]Y1OB%!OZNNRK>RKC/ZCI-NEH.U231Q$,[M8H.MR#JL3[&
M(77-*N&\F!BN03(5)0WP@(@(8!AD1Y&>0.MJS/P#.AT>QQ],M%6\?:@\L>P[
MO,7.T[;E`C43R]SD7-?%-I2XY-\95T\,H=VH"9@2((@!1`NUC\M?)"L*#KM?
M6.MU=UH;CUEK)3Y*TS:VL9*'VE692?A+.RECM0FFJS`T,X(Y:+$[P+V&#\[H
M!%0O+CR$EK?4&-QUOJTE6?[HD/'FQ.ZM:+8\M"^P(P)AR[M$#$/XA*/0HJ;%
M@0W:Z7^<Y`X]`$O`&2>6MDW1';JU)"T^;@8?6<GJ#R,>VQ%U)V**F7LQ&4M(
M".&SB'(Z;'4KS<3+M3'2**3@_<(G`>``TIKKRQW9I[3%0<[99T>=+)^*R.W-
M;NJQ(6Y_+2CNM-ZC%.(>_K3D.L\.[D7=WB3?,LRJ=PJ*=1Y*)=#YER2$(V[T
M5Y\<).NU9[25@=&^,GDEN#9^P;OKW9]-BDTZ]58BWPE\JE5V'5ZS)B^EGL7+
M4PC;8,<S<24[`J-0[GC)99HX[A$"I\`!J[FIY=J6GR]4BOW8UZOU#9K>X^6V
M[XT^PMS14'KL/&S46X5=234<]5L+3:L\HQL<)2YVTLGJH)5F+CH.Q38`1JLB
ML=^V3%5-4H"7NK(,\5\F-BR$)3#H0L.9[8O)#;^CY9RXCY1L@SCJ,CL,E8G&
M+$\D#HRSM2OM%%U#'.B<_?V$(`E`JC%4<X>..ZO+.R:GT/2Z;9];VRX3&J;=
MN";OVRF=J6&4KD79V=>KT"N5"1269OY69DWB:LH`&9-FS=$H)AVG$Z@-ER/E
M!Y'S*.T+U7H_2;.F>/4/70V;7';R;M$E;9ES6$;39PJ5IB3LX9BVC4'::+05
MFZP+F`0Y$1`<`Q1[Y2^44LAM2UTZ:TZSJE1WC0].U>#LU)M#B763V'$TMXSF
MI24CIA@7YJO*V\>$$F12N%&H)&,GR93`+U=_*'R6HP0FIY-M5)7;4QN"W4`E
MYHVOK)<D#56O4@;S'V$VJ6TLVFU9.19JD;"@C*+$3$@JB/:<"%`WWK'R!VDY
M\8]@;/V/65D+[K=ML47#=Y6I"D)6-.HQCN2CY5O6I5^]D(4CI-,A%FKA=0Y3
M=QNX"\<`<8[5VUY3CJI*M7_9&JGBGD1X]7V]U>1JM(E("6UD[KU/9W>1BGBB
M-ID32]>>UM<[<TN7V_8D?:1,'ZT@"!LB[T:S43]VM`P5`MM:JLFW@]:6%O9X
M.GOJO#^Q/SL&],1E4R6)S)1SATX<$35!-X0ZH'/P')N@[MZ9:N7DO*E>PUM$
M7;R&TM.[WOL-:Z;)4QKY94VEVFLS%#DD'5@0M3/7$)8Y6&GE;0NWK`,Y"=`C
M)HHU.*HD$3"<PB.2L"]<DMJE*4:KU[?:A89_R,W[28HK36'R-2J$8YWQ9;%)
MT#4+/9+EC)TS8,K$)/;_`%%2WQ]B@:G(LFON.'L<U>J'$HG1.F4!+D49E.Z]
MO;OM%:\=-;;8I\U29"7M%NT*WE9])!VK3GT'?;77*W89.,/)BW=()*HS"IF9
M%![D%0*4X'`#%$#0NV?([>3O;]PU7K2^4JO(P_D5HK5*3PU;C[.^@*QLN@3=
MFLKA5NY<-F[Z>C'+(AV).Y$A2D_6`IP(&E)Y'=O2K5MVWDE7L_B:XK_D%Y/V
MZ^M?&,-DT^#OT'OO:.MK!OE&BM#.Y6K4365#V+73LZ9(+KUAM>)QS;SL'"7>
MDDJ1`5$2B("85&W1EL^2VXP\S-)5V]OS,3V#Y;>4O[4GHE4G5KJZH>K$KO:+
M;X[:VI5OKE]LRUON,"A(/B[!N40I6:A53UENC9"-7'O(++F.FX3('9BC,U42
M-P;)\B-X:O\`**44VJQUA1*GXLZTV"%'CJA4K8]D)C9-/M$A;$Y"Q%E#KM&3
M1W$"#=%H\4X34,0IU?A'%&35&-[1\CMVZPBECT+<UNDV6EJ7IV/=K1.L-?LM
M0-Y5Y'5QS+P6UK1/245,+SSZ/ENQBVK[`BI$S`13N6#W048JC/D;KN&>\H+S
MJ?6VQHK3;6V^25[K%IF(.EUY_:W-<9>/U"ND5)QSA9B<AY=O.G,!E'Z:ZA$C
M&1-QVAPHP8;5+1OO:FTM(68FX7S#:$73/,75#)TQI%9-%6.VZREFJ,58VA95
M*3:,WMC$$6K@"IG."G=V`3H`0#K/Q*\C;SY%;'?S\C;6L;1->ZXJVL+S5##'
MD0?^2KF55=VM-LX69,G(JP2,*=,R*)QX.[*`E-P(8!]+<`B*82F`P>H#R'/I
M@%>@J97N[@*';V\<<_3S]8C]6`3\`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`
M,`DF0(8_>(FYY`>@AQTX`/HY^C`)V`,`8`P!@#`&`,`8!*7_`+(_V?E#`)37
M\PWZ7Y`P"V6=<S:NS3@H%$R$:[6*!N>T3)HF.`&X$![>0Z]0P"OC2`5BTXYZ
MM6WK_P#0(/Y<`GN/[(?M+_'@%N:_XU;_`),G^]4P"9$_X%I^B?\`K#@%TP!@
M#`&`,`8`P!@#`&`,`<`/J'.`?*ORR\$MC>0U[V?*QVP*,A6=CTR!K+`+]"6:
MR3^JG%?8OR+.-91[&;:55FK:9-=!RY>O$%7+84>$RB`\8!GSSQ%OTMK[=-,D
M[U!.W>VKGIZU-ER1*J3*$'7,?K9*>;J)`<AEQLDE1U720%^%$50*/3T`QC2.
MFG$OYG;QW(S;WF)U[6FRD'"1-IBV\5"S6VK(E78O9UVJ).?G7L)(UZF1[07*
MQ>QV90YDAZ"80+OY(^&ESWELM6UQMSI;:MRM&-27$9L2JREZ=T5R)Y=NZN6L
MXQ*Q1%8:6*982XE65DF[P4OET_:*7D_<!K.4\!]LP.NI;6.M=Z0=2H=XI-"B
M-HMI#7J5IFW\[0JU&U9[*U,Y)6$818WJ#BTVSM`[=T1(_!DR\\<`2M=Z)VQL
MB2M&T:)+26D;#5_(ZV637O\`FAKT7";ZGOM9P.M9YG(TSY^+EV*,@:-%XS4(
MZ(114@'-R`X!<++^[CNUFUI1*-);FJMJ>5]6ZK6.:V'IV`LZLE*W2T2=B_;>
MJK_?"=AJ=U@!F%BLEQDWC0@@4?E@,!3%`V7(>#]O5DI!DRV^HXJ5B8Z:=61.
MQ5XLK97%HT]+13IA+,9M&29_JIMBP.1RFNF?M4.`E$0YP#95M\3E;/'[6:DN
M*S-?9VZ*+N+W%XED[1BCT,U94:UM9(RHBNC*#`=JBY1$Z7>)B\FXP#6M8\#G
MM4VF\MT;?ZPG0S7Z<V(WJQ=/TM6_N)N:!TI\O)[<=**6%Y%QKQ^J=L44RJI)
M\$`>@#@&5P'A4P@M>ZYH3FZ2#IG1HW:<2]D4(UBE(2[7:#%XS<*)K'.;V7,.
MH^]U-0P&%0Z1>X.,SZITLOK7Q-F@OK3:J-YI.B>#RQ31I6>_=R3ETJ6OZ7<M
MZ*V"!I58K=34.IJJ@KV=)I57B*D5(T>\22*UBUS,JQK)LV>.V!CJJE3$Q"`(
MCSYE9-44L#WOS-A2JK45C79WTP?5EU':^W=-2=]IE)A*U<'%(L5"M]+M\#:C
M1;"TN$753!,BB#EG,=C9\>7:>X@JNI^L*"@G#KTSVH_M74?+R?%)RWMFD&/A
M=#M:3K.D.=A6ERAK;;MNVRWEV96D?(2SVU_ML@6+`0]P(%"*C[D=%-9I^M_5
M`(!Z9YVK;5W-_M7ZD(U!K;]VNC27D&$EN"9F8:NZ\V/JV+@HV@:^JC1>D;)@
M7,$^1M$C",235RM;`JX*_>+Q8`4$OYO(CD:3B\U5>QAHWRV\3E5O%J*\7[AL
M:9L;&+K$%4OVT:1,5"2;B&K#Z"=02/W,U[HLIFB4`BF*@F%13@3&Z],],@GW
M_P`0:9L%UNUW+V*S-3[UHVM:!9THI1@FWBXO7#QT]9O8!%PF`-74HJN4KL%!
M,`D)^K#D1SG@A]J[$=<<][[6<X[X\8[O1[4GLG1U7V;<K/:M@6Z[VR>HE\I=
M-LE;4E*)3Z0G`QT5<D%8*>K%@BJP"2I%#@NQ4X7(/=QDI)*B22(;;Q;JS/\`
MQB\.7E(US04K]*RT7=V6H=HZZE(5&=:3S9&&VK>'5PD%).3^[V3R6L\0=R0I
MWI#`W67X,!1[0R2#=^L_%F/U'/T.6I]YMQXRFZJCM2O:W-A"/X^T0<++O)F(
MDY9P$>5Z2P,G+TR9%DE"D]CX>`$<`R.Q^--%M:>YD9L99VVWFC$MK8@9TB7Y
M`86,&-C'<*<"F*W4C1['"'>53M63+R`ATSG@A]L>Q'7'/>^UFL2^&+)Q'SX3
M6XMU3EDEU*ZG&VI>X1[!]5V=27%>*1@XV'K\=7^)'D/O#WV:OS1P$3]_/5P0
M^V/8AQS^Z7:RVD\$:.,=&F+=]DL+JQV9)[57V3'3D9$VM:R3<>,/,)MC0,5%
MPZ,:]A5#MQ3!DF/Q=_(CZRHQ622]Q#E)YMOWE;6?`S4-3JR-2BY38:S)*E;,
MHIGTC;U'\B\C=IRZ<Y/R<FX70'Y^9;2#8AVZAP$I1X[BCP/,D&U+1X[PERU-
M!Z>N$_<+-!0+NHO4[`M-M&-NDUZ;+-IF&5D9!C&LD3K(.6B9#"4``Z10'H?K
M@%KF?%:AV"M7NL23NUIMK]L5':[F5C[0[8V"L7ID9F>)EZM)I(&-'GBE6"2R
M?/?PL`FX'D`P"Q57PUUM7U(J1DY.[W&V1^PZOM)W>[A:%9:U3%QIT"^J\`YD
M'A6R)%V,=$/S@FD)0`#&$1ZX!DL9XO:[BEX]=LC/@JQW.]WK[JD^L<Q[ZZ8C
M%F<'(!"E4AU6QC&,W$>>1$.O.`9'MGQ_INWI&K2U@<6%E(5!M:648X@)Q>&,
MZB[M"&KML@I4$DU2.XJ=B#>VIT!1,X%.0P"&`8O)>*>IY5G6X^3KKR29U#6\
M]J:"]V?D`=I4:QC61DHY94BK;WG7=7$#)+"8IDS(D$!Y`..7"#Q:5>I`NVJO
M'"F:EL4O;HF4V'9K3.0,96W<[L'8,]>7K:NP;Y1_$UZ/--.3ILFK9=8P\II@
M(_ZQC>N2HQ7[4D#&9CP^U%/WM_=IIC8'J,M9(>[35(5M<R;5T[=H%5-:/MLY
MK@SG]GGT^BNF50JPE[#*D(<Z8F(`YQ=MN[;=M;3J%SRI*X]G\"W,/#33L7L<
MFR&[*VJRJ-YF-C1D:ML&RJ5*!M\^@Z;SLQ&507Z,:D:=0='*Y3$JA.\W<4`#
MG,'XV6]UZV:_RD*4?!2FY5R\3&`\`=!I5^%K4>RV!&Q]9_:9A`+--IVUB^95
M2X.2R,Y0TGS1\JNM0G;LYP^[%@.DB`\I<=!R'RYU_=+M9D<N-N>]U[3(9_P@
MT/.S</+C5Y2+;1C&O,9"LUNUSM=I]P;5<J9(1K?:Y'/21%W1BTTB@C]X-U#F
M`H%4.).@:]-8>GBXMUJZD,V"/C-J==M:F+FM">/NE]@-H3K4)1ZB4UUK0L/N
M>0:IMA229MV@1B'""8@D'M@`!V@&:2#S8/C;J[9*$BA:*PY<JOK,2ZDF(>U3
M]9LL;:D(EK`(RD)8X%Y&S44H>'1]HY4ERIF`@<@;G`,EI.DJ)KK7?^5=5A0_
M8A=*30DHB=>.9I272ETSIR?WM(/U'3V04DBG-[RBICJG$>1-S@&HZ?X2^/E(
M+;?N&AJ-@N4#+U.5!W9++-+,JC/)HI3%4K"\S.O?V=KTF"(?,-FP(IGZ<%#@
M,`VY:=,T>XZY=ZAG*XDZUT^KK.KG@B/G30[6*C!(=@#209N$I!F[;J)$,BND
MI[J)B<A@E-K%&+0OC#IV"JDC2V=)15@9JRU^VSB;^5DY5Y+6>KKQCN$L$C)R
MCQT^D'S56(;@*BAN\_M@(ATP.*6]]IC-R\,?&^[LV+&?U?%.T6#N?7058RDS
M"O!):I7[]L+9X_AY6-?O(R3DP`RC910Z(AT[.WD,\S\;+>^UFN/,XU^IQ[%[
M=9MJP:;US:]>FU1/U2%?ZX,S9QZ53^6*UBV3*.]HT<W8ILQ1%'Y!9$ITS@/>
M4X`8!Y#G#Y?+)R=/>9YW5>EQK'V]N@UG4?$+Q_H2@'J.K*["J#:8&Z+2+9R_
M7EWEKJ[!]&PEA?NGJZXNI%HPD5T2B81`"*C]0<<_CI?<^UG*;6*JBMM/BEHR
M[P]L@[5KF$D(^ZWU#9T\*3A\T>.KLU9I,6M@%ZT<H.$I-!DB5N!B'*F*``00
MX``P^72X6N)X]9*G).M7F8U</"CQAOL#4JK9=+TYS7:(W785./;)N8L(R.6?
M%DG48HO%O$'#^'DGY`66;KF4(=3DQRB(CSX_X?4Y5GVOOWFJ/,8IU;BV\\J>
MY;/@;43TOK9NUL"+2DP35O::U%TVQQ*+=`K":J4"U>,8FM+M0$K$D6W:/5$B
ME`@=J1NW)_#ZG9*?:R/R,'BW&JK3+-[33SCP/\17246B]T#KF1)%M8MJV(_B
MCO`1)"]_W6H45W9N7C,5/A7,!U>"@'/0O$?A]33.7:_$E\RC5TE&FS]O@;3C
MM`:FAYYM:HF@59A96DX>PMYMHR$TLG,JP32LGE/G7"_>L_4@F2350ZG('0(!
M1`1#G++/*=1"]";E*BDGF]C3WA\PA*+C5.JI_+MZD6R8\<M9+I0;J!H%0A+'
M4)NT7"@3B<.F?]C+Q:C@Z?61-DD\;)R2CF2*"SQ(Y@3<%```.>N?4F(PW2?B
M;3M74LD/:BQ^P+4ML^3W3,VI:!CX!-WLR3=_,JV".B8Q4R,>1J9),44Q,?CL
M`1Y,(X!U#@$Q+^T)^D&`73@`]`XP!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`
MP!@#`&`,`8`P"`ZA$^.X1#GGCISZ<<_QX!$40,`&#T$.0P#W`&`,`E+_`-D?
M[/RA@$IK^8;]+\@8!2S?`Q$B`@`@+14!`0`0$!+U`0'H(8!%%#_P3;_E6W^Y
M+@%8N43)B`>HB7^,`P"UM#`,@Z('YR38B9_P&]PQN@_3T-@$Z)_P+3]$_P#6
M'`+I@#`&`,`8`P!@#`&`,`8`P"09N0YA,(FY'ZA#C^J.``;D#C@3]#D.'4/4
MG/`=`#H//7`(@13`HD*7L*(=O!>@`'(CP4.I0ZC]6`2_E4_K/^,O^S@#Y5+Z
M>XP?480X'CJ'/`!Z"'/VX`^6)VE*)U3=O/`G.)S=1Y'DQP,8<`J"AV@!0]``
M`#G\`<8![@#`&`0G*!RB4>>!X]/7H//X<XN6XW8<$LF0U54("HE*'`";Z_4/
MY,H6CM+#'V]Q"C3:R(Y`.7M'GCIZ>O3[0'-25%0Z)/RJ?UG_`!E_V<HN:>%V
M7%*M:`G@4`Q;T\+<N*-:DMMDLZ!%#=QA,`\<=!#CI]H#EY!!\JG]9_QE_P!G
M`/?EDN!*<!4(/JFH('3^WL$.WG`)I4RDX[0]`[2\]1*7I\(&'XN!$/KP"/`&
M`,`8`P!@#`&`,`8`P!@'AB@8!*/H/U9*='4YG!3BX/)DGV"?6;\8?R9WYDN@
MS>CM;Y=OR(_;+]8_Z/Y,YXF;(OABHK)*A$4H%].?X<ANH;J19!`P!@#`&`,`
MD>P3ZS?C#^3+/,ET&3T=K?+M^1$"10#@!-^,/Y,AS;--J*LPX(Y=)[[9?K'_
M`$?R9'$RWC8]LOUC_H_DQQ,AR;5"#V"?6;\8?R9UYDN@Q>CM;Y=OR'L$^LWX
MP_DQYDN@>CM;Y=OR'L$^LWXP_DQYDN@>CM;Y=OR/00(`@/)N@@/J'T?P9#N-
MX8$QTEN+4DY53W_(G9P:CPP=P"4?00$!X_"'&`4"Z14P*)1,/(CZB'T?8`8!
M+2_M"?I!@%TP!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P"6HD
M57CN$P=O/'''T\?6`_5@$92@4H%#G@`X#GUP#W`&`,`E+_V1_L_*&`2FOYAO
MTOR!@%+-_P#A,A_RJO\`5P"**_P3;_E6O^Z#`+@;T#](G]<N`6-E_P"+2GZ)
M?R8!51/^!:?HG_K#@%TP!@#`&`,`8`P!@#`&`,`8`P!@%$HW4,<Q@[>!$1#K
M_P!&`34$C)]_=QU[>.!Y].?Y<`A!$_O>YT[>X1]>O'7\&`56`4A43@MW].WO
M,;UZ\#SQ]'X<`J\`I"(G*KWCQV\F'UZ]0'CZ/PX!5X`P!@#`&`,`8`P!@#`&
M`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`I'
M?H3[1_B#`*9+^T)^D&`73`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8
M`P!@#`&`,`8`P!@$I?\`LC_9^4,`MF`4T^X;A`2X+>\"98MY[GM<%4[?ES@/
MMFYZ&^K`*F"*D$6P,D*PD/'L#%]X_>8"_*)`3D?H-V^OX<`NQO0/TB?URX!8
MV7_BTI^B7\F`543_`(%I^B?^L.`73`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!
M@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`
M,`8`P!@#`&`,`8`P!@#`&`,`I'?H3[1_B#`*9+^T)^D&`73`&`,`8`P!@#`&
M`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@$I?^R/]GY0P"V8!;Y=$
MCB)E$%.[VU8]V0_:/:;@R)@'@>!X'`+E!E`L1&\<]&#4@<]?A31*0O\`#VA@
M%T-Z!^D3^N7`+&R_\6E/T2_DP"JB?\"T_1/_`%AP"Z8`P!@#`&`,`8`P!@#`
M&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8
M`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P"!3^S4_0-_5'`+<FF93GMXZ<<
M\CQZX!$0HE6*4?4#!S@%RP!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&
M`,`8`P!@#`&`,`8!*7_LC_9^4,`E-?S#?I?D#`),L'=%R)0]18N@#G\*!PP"
MFKX\0T<3_639MR&^KGVBCT^L.N`7<WH'Z1/ZY<`L;+_Q:4_1+^3`*J)_P+3]
M$_\`6'`+I@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`
M8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@
M#`/!`!`0'T$!`?L'I@$!$R)\]O3GZQ^K[<`I!_Q/_OA_$&`5^`,`8`P!@#`&
M`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`)2_\`9'^S\H8!0$5.
MF`@40`!'GT`<`II%PH,<_P"1#_!.?H#^Z-@%1!E`(E@8/4[1`P_;[90Z?P!@
M%S-Z!^D3^N7`+&R_\6E/T2_DP"JB?\"T_1/_`%AP"Z8`P!@#`&`,`8`P!@#`
M&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8
M`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@%([]"?:/\08!`BB;DBG)>WG
MGCD>>@_9Q@%=@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&
M`,`8`P"4O_9'^S\H8!0IHF4`1*)0X'CJ(_D`<`H)$.&$@'U,W0?B2-@%3$+%
M3B8P#`8>62`]`#^8'UB&`781Y*`_6)!_&8N`61E_XM*?HE_)@%5$_P"!:?HG
M_K#@%TP!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8
M`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#
M`(#IE4X[@$>/3KQZX!Z4"E`"AT`.@!SUP"+`&`,`8`P!@#`&`,`8`P!@#`)2
MQC%)R3UY`/3GIU^C`")C&)R?UY$/3CIT^C`)N`,`8`P!@#`&`,`8`P!@#`&`
M,`8!X8H&`2CZ#ZX!1,C"(N"CZ$5`"_9V@/\`#ZX!1/4Q.W>E,4W:9NZ`>@AT
M%)3Z<`DUS_BH&&56ZJ&C&1C<<$#N.@4QA[2\`'(C@%_$/A``#T$GX@,7^(,`
ML;+_`,5E/PE*(?A],`JHG_`M/T3_`-8<`NF`,`8`P!@#`&`,`8`P!@#`&`,`
M8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@
M#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P"F%$WN^YR''<`\=>>G\&`5.`,`8`P
M!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`(3F["B80Y`,`
MHV1!`5S#QPHH!@^L``H!U_#@$Q^8"L7AAYX*T<&'CUX!$XCQ^'`+!35BN*Y"
MJE`0*>)CA`#<<A_PX>O`B&`90;T'\/`?C'@/](X!86/22?D^DB12C]7/<)NG
MX.!P"KB?\"T_1/\`UAP"Z8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`4RYU"B7V
M^>!`>>"@/U?6`X!/((B0HCZB4HC]'7@.>GVX!%@#`&`,`8`P!@#`&`,`8`P!
M@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`
M>=Q>>.X.?3CD.?Q8![@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`
MP!@#`&`,`8`P"4O_`&1_L_*&`2FOYAOTOR!@!Z4#,G91#D#-ER\=>1[DC%X#
MCKR/.`6.H)$1KT.FF7M(2*CR@7D1X$$`Y#DPB/(#@&2&]`_2)_7+@%C9?^+2
MGZ)?R8!51/\`@6GZ)_ZPX!=,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`
MP!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`
M&`,`8`P!@#`&`,`8`P!@%,*)O=]SD..X!XZ\]/X,`J<`8`P!@#`&`,`8`P!@
M#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`2E_[(_V?E#`)37\PWZ7Y`P"
M-Q_9#]I?X\`LM6_\#C?^2;_U1P"_F]`_2)_7+@%C9?\`BTI^B7\F`543_@6G
MZ)_ZPX!=,`8`P!@#`/!,!>IA``].1$`_CP"'W$PXY.0.0$0^(O4`'@1#KU`!
MP"/`&`,`8`P#SD/K#\896[UJ+I*44^M$T8`0'T$!^S)C<A/]DD^IU(HT>YV"
M0N94O;[?=U[N[@O=]7'T#Q@$T@F$A1-SW<!SR'`\_9TXP"+`&`,`8`P!@#`&
M`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`0>XG_/)_2+_`"X!
M$!BF_-,4?L$!_BP#P#E$>`,41^H!`1_$`X!%@#`&`,`8`P!@#`&`,`8`P!@#
M`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8!`H)@(82<]
MW'3@.1]?JZ\X!@4WL6J5RP5RJ3EFAHRRV\71*O!/G16\G8%679\TE$H%(<[M
M1N"@"<A2F,!1Y]`'`,L]Y4Q``P^H!R4.#<?@[^THFX'Z>`YP"J:_F&_2_(&`
M>O!$K1P8.AB(J'*/U&*43%'^`0P"UUHH%AF0`'`%3[`_`4AC%*'\`8!>S>@?
MI$_KEP"QLO\`Q:4_1+^3`*J)_P`"T_1/_6'`+I@#`&`,`IU%P3,)>T1XXZ\\
M>N`4ZJX*%`H%$.#`/KS]`A^7`-!;2VI::!?-+U:#UY8K;#[.NRL%:+1$)R+J
M-HD:UBU%TI.9(V9K)-V[IP0$P`3E`1^(WTX!T;@#`&`,`8!;5I!HDN5`ZA?>
M4.)")^XD50X$.FFL<B9SE.=-$ZI0,(`/KE,N6J\W=QQQ]L.@Z3>1,.Z*D)0[
M2_&8$B&.H"9#+F`!(D4QRAWBH`_")0,'(#SQDVM+'3U:_F_02;VE*>;CTUEF
MYG+?WFXHE53!PD*@'6**GM@43`(G*D`FX#XA#Z,M.2<WE&SHACMU6ZX$4,DI
M\NY27]I4GYZ2HI\@10O/H/7`)_S8?S!_&'\F`3DE05`1`!#@0^GGUP";@#`&
M`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@%&+41$1[
MPZC]0_RX!I:WZJM]BW%JG8T5M&>K=5H4?:VEEUTP1(:&ORL^U30CEI=4R@"G
M]SJ$[R<%,(CZ"&`;L1;BD(#W`/!>.``?P>G(B/'3`*G`&`,`8`P!@#`&`,`8
M!X8>TIC>O:`C^(.<`E)+`KR`%$../IY]<`G8`P!@#`&`,`8`P!@#`&`,`8`P
M!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`P68UW5+!8*]:YJ$CI.Q5!=PZJDHZ2.
M+B$<.R>VY.V.4P"7WB@'=]?&`92+7VD^@E`I```*`#P`=`X`1$1X#`)[7\PW
MZ7Y`P"-T3W&S@G/'>BH7GZN2"'.`4,*@+:-;H"8#B0#!W``@`_&(^@]0]<`N
M9O0/TB?URX!8V7_BTI^B7\F`543_`(%I^B?^L.`73`&`,`8!`9),P\F*`C]?
M7`(?82_F!_I_EP#TJ*1!,)4R`)Q`3B!0Y,(``%$P^IA*`=.?3`)F`,`8`P!@
M'RB\S81&S>5_CU79'7USVC$2.H]W+GI%,MO[(OGLA'3=".A)#(K3L"B8[)%R
MIT!3DI3B//U7PU-^TJ6Y-+W=1Z%FU:E8<I\-=[R672CG*R0GE7H2-\<FU=JA
M;)M^2N7E#_E5JF9V5)3T3KRC/ZE^T%-C[79)5R1G='6OV,8)B-Q,H<ZJZ:::
MQQ`PCS<NW;N-QU?N-$;.FDL(KAPQQQ,9M-=I,II#Q5<4`LWNJ][+\N(1QN&/
MMEDD*78[?M0M0LA;[4+@Z$$241M695!-#[K0X(V(FGR0PB(C5@5W+%N,)RX4
MFHX4]J]>SXGUK\7M?*4+7CIHZTQ$:/EY.?D)"2I\'<G=^:*"80!O)FL;DO*Z
MCHAA$4RF,!/P>F#RSI#VU/[L_P#1-_)@%6V*8H'[BB7D0]0$/K^O`*K`(1,4
MOYQBEY^L0#^/`(L`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`
M8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`>"`"`@/4!#@?L'`(2D(3GM*`<^N`>
M]Y>>WN+W>G'(<_BYYP"+`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`
MP!@#`&`,`8`P!@$I?^R/]GY0P"4U_,-^E^0,`G+<BDH`>HE$`#ZQ'H`?AYP"
MRUA=1S`Q:ZR@JJJM"&54'MY,KW'*IW=H``&`P<"'T#@%\-Z!^D3^N7`+&R_\
M6E/T2_DP"JB?\"T_1/\`UAP"Z8`P!@#`&`,`8`P!@#`&`,`US):NJ,OL:O[4
MD(ADXN]4AIVO5R=.17YV,A;*2-":8)C[WLBF\5C2&$>P!^C)32ZS3'4<-I6F
MOI^=?`635U1MEKI=TG8MN_L>O'<J\ILDH=VFO"+S\:,1.&0!LZ035"2CP*F<
M%"G``*'`>N2W5U.XZMQAP);_`&R-:I>,>D6=S?WYO0HI"XR5SC=AR4NW<2J:
M3J^1)#)L[46-&1/'MY,I5#=YB)@"O/Q]V1@1+52=MVZ?2U1=".@4G'MID)V<
M]I0#GNXYX_!VCQD&0G$<]YP+V<<CZ]W/^CM#`*G`*4SKM,8O9SVF$.>[UX'C
M^;@%.JK[HE'M[>.?IY]?X`P"M$_8D!^.>"EZ<\>O`>O`_7@$CYO_`.7_`-O_
M`+N`1IN.\X$[..>>O=SZ`(^G:'U8!4X!3IK]Y^SLX]>O=SZ?@X#`*C`&`,`E
MJJ>V7NXYZ@''/'K_``#@$@'7(@'M^H_SO^[@$]53VB@;CNY-QQSQ]`C]0_5@
M$LJXF*)O:-P'//`@(C^@'03<?3]7X<`]26]T1#M[>`Y]>?I^P,`GX`P!@#`&
M`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8!(%#E7W.[_6`
M>WM^K\/.`3\`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!
M@#`&`2E_[(_V?E#`)37\PWZ7Y`P"H-Z!^D3^N7`,9IG_`.#47_\`36_^R5L`
MR8WH'Z1/ZY<`L;+_`,6E/T2_DP"JB?\``M/T3_UAP"Z8`P!@#`&`,`8`P!@#
M`&`,`XEWKLW:<SNZD>,VGK2RH$_9Z'9-FV[9"D#&VI]5*M"R\?7V+"$KTP<D
M6\F)J0>F*59P(HMA(!C`8!XP#'C;UW+X_4LC7R/2JVR[98=C*T/4#_6CR.J#
MG9D2I&N)0DU8VT^\:5^G2T:QCW"CP"NR-2%3$Q!$!Z`4R/G7`R[6G(4W3VT+
MS;[A<KS1UJ5$K4TLM6+#KF+;3UH:6:3/:UX&/1&`=$=QRJ;HR4@B8IB&#NP#
MFZK>9NX)_7BE]G(^U5^V$JWE1+Q6OQK5,1BYTNL'W9`NU)C]K7A$W=18IIIG
M(GPW=NSK@J/ZL.`*W6WF5:]251%UO2TWO8MU?T;4LTP@9"'U#6V\C/;25L[R
M+;Q\E6Y8D9$Q[>'8$7=N'2_M-VY`4.;@!S1#2:JY%3A;DX/)I%JLWI+BC%M,
MW7!^?\+:DF]?K>LK38-QK6\M56U7#6ZD2Z*)F\<XGY&5C]B0$\\HLI$1T$W.
MX]T%`%3@"&#G*[EF]9IYL91KE54.9VYPIQIJN\R?Q6W%?-KZ"NEXLTM*DGVM
M\W+$L366`8Q4_6VM5FI=G%0DO'Q!G$6D[B46Q2&6[CHJF((E[@$N5-J*J\$1
M"$KDU"";FW1);6<$:0\EMNV.+\<)JK^4MRW3L6_6"MM]E:3D];1!*]"5-VJ^
M3NKQY<HRB0KBN/J\TC1,W56?&$[KN)U`W.5^?9^Y&M\MY@E5V;E.H[JG/*MS
M*:\ICIG#3T!-;8K>ZE(1^VDXE0E64UK`684)<HN>\CI5ZM"^\D@<1.DH8!$3
M=N:8VKLEQ1BVF>5/5Z:W-V[ER*G%M--XIIT:?4\#0,;Y<[63\?(2'NM7M%'N
MUR\<I^Z:YVPI8H*=>6V=I=7CI"8?RD8@DF%9E%4W?S9>[D%@$/3G*KC5F7#=
M?#)[RRW=M7EQ6I*45N-C5WREL4/9IJ@TJ/M.Z-K6.TLF$%7K=98FKUDC*-U=
M4;/.S\9,IP3I.#@NV6(;Y;A3O>NB?&`*<AQ&[;D^&,DV6'4:^]7U;T)9]U;1
MJ$QK)Y4*S-STW29MRS6?LG4(B^;D9(R#=PJE)M9N0(F#);M2,O[A``GUV`^?
M7B]YN2<75=VAM;:T%NV>I=;CMTP04UPV4?L*_?CI-W&I)0R*Q03E]>VUTWCQ
M=B4Q4DUQ(/(AP-7GV?N0-^3'ESONEH-(O8'CDG#7>_7:H474#&*V3'R]0GI*
MW1\G(KDMEA3A$).IN:>C%"+XHQ[A,QEBD*L80$I--JS=OQ<K,7**SH*%R3\G
M_(]>6JNL$?'R$:[HE27*9?,9K8I6NN#4FJ/V$3&V2-N$7`RSYX\LS^<8@1H9
MJ0$04^,Y.<F5B]"/'*+4%MZ_X,%#K#S@<;-1D?DZ,M#/ZWI/9.P;!'NK2@X<
M,KOK*WOZ3:*.DV(Q=*R#8)>.*JB^$Q!3;.TA%(.X`RH&%6+S'WXJI+25/U72
MI"GTW2&I]YW=U)WF2:3S"*V%%NAF*Y7VJ<`LUEY:N)-'+M!1QPW>JMA1-V&,
M7@#`V_E=Y!52R>5TE)IZK<04!N:FU'7[;8>S)."94:*G:#%3B@R+>.KJKZ62
M.S.*PQD,165/)*J%2*9-,1SN-NY-5BFT=QM7)KBC%M&1U+SJW5L&!HT54=>:
MO>7VR[WM>B5'LK;K@TH4@[@->$V"QN<2*M<C[JVAWZ"GL@W=QR;@Y`,83!VB
M`I6[D%62:0E:N059Q:1;&'DOOVY[7U!8H^&J#=C`TCR.A+[KQM990S>P[,U;
M-0,;+E@D"0WO.F;0GN%B#+?KA%90%.3=,X.#?OB!Y26_?\A:HVUDURQDJ]'P
MKT8BJ.KK%6^&7D55BO86Z4F^P4/*,E8]4`(F_:F69N>/A$.XH8!]``]`_P!/
MVAT'_3@'N`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!
M@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`
M2E_[(_V?E#`)37\PWZ7Y`P"H-Z!^D3^N7`,9IG_X-1?_`--;_P"R5L`R8WH'
MZ1/ZY<`L;+_Q:4_1+^3`*J)_P+3]$_\`6'`+I@#`&`,`8`P!@#`&`,`8`P#E
M+?>B;;>;92-N:CML+2-PZZ1FX>)E;%7U;'5)^JV)L0DQ5;E"LY.(D)*.,\12
M<ME4'2:K14HF*0XC@'-]J\#+;>JDSF-@[=B[UO1IMICM]I9[Y1F]IU'%NF52
M?40*'"ZE7D6L8QHIZG)N$A2.J+KYI3Y@53'#MP#9FE/$)_KB4UY9IBU4Y><J
MEMV-;96/H5&CZ-57O[<P$?7(F!B(:/<J`VCZC&QQ"IN'0NGCPH]IU$P`,`PN
M'\'K<Q>R,?([J:251CDM_P`91HHM.;-YN!@?(%:2D9F(G)A68>!.!79R24<-
M3@BW%5,?:,!``#8!37S]WW`7M*$=2%_7:V>IT?4-:J<^K4*_,L8BQZE93\<2
MQO(&7.XBIV*MS2=,E(1;D@IB0GPJ\B`E\VY^<=V2L.EFOTX[-A[%FXHV8I8M
M1R/(+P)F81A%V.#VK#UC=4#?%+S"WFF:LJ=:IL&9[!*UN6K[+6$>X38*PDS%
M+&,<CA^L9-P!5"CP`D-ITWKZ-Z]U=?IZMOZ&/5S4^&E:)/,Z/T%X^(:-UG,Z
M[7N<W>WM@LUXLTU;)ILU8RKQY>'[V0?-Q09G4:)(,EWIO;!,"%'@."E#IG>H
M=+,GT&>S<\J[&[6CC)/L,ITMIV'TOK&JZQCI%W/LJM'KL4IN3212EG_S+Y\]
M55=G1$Q3=OSPID`1,)2E]1SR5<HJ'I7.:RN3\QR:;IAFL*4P]VPY9@O!->-G
MV#F9WE?K+3JN?::5$HLA"5%"'K3':\4]C99-=XWC_O&8=PYI-P=@N8Z(I$,4
MARG[1,;S)1Y]QMVV_*KAU;.XKN7>3S;N3C%W9.LL=KSV;RV0/[OADG7&]9ON
M^-D[,85;6EBUIJL+#'UYC_EBTM<(6!G9^)^Y4&1YF:=1Y"HA\Z91(J!"D[1X
M[AU:=:U1?KFW<KA7=_$R7IZ637I(J,$L:.N/8C,Y/PBBRO(^R4C;=UU_?H&S
M-[!7+C%0M5E3Q;7]CF5%E:\O!3,>YB9&'F8.-0,H4Q2&2=)@LD)#`7C?I?\`
M77O^!29ZY\1J_/Z8J6E+5L78=PKT#=(BYV2:LLDVD+)?G,5.N+.,-8GOL$0+
M77$NX+PS23!(C=(J0`(<CGK$%QVIX@:FVG,04X\8A6'T/`6BIN#U.+@HC[XJ
MMJ9F;NX&04;QI5SLH]Z";UF7O$$7B)%!`W`@/BS2<G7#']3NAJLO@#6Y)@=Q
M<]U[JNU\CWM,?TG9,O8V#:QZZ<T5LHRBG53:,(Y&%!]+-UE#2JSUN[^?66.<
M2D`0*'<7S!*FCG2SMZ^W=047O*\O@G%()LIJ+WOO&*VNC)6M_)[J;V.*<7Z>
M:6\B`2-<?D>0SBM-:RV4CF1VS1FP;>R=J42FY,(YIT[YCQJ.IDG82?RVTP(:
M214O?`?6X5^K5ZKWG95"1A:C::/9Y"FS;2*E=EU^[N4I.VIW>0%@LX<OYF;*
M=V9RT,T5*<_;R)0`,W')G$9X>:ZBX6Y5]"7M"D5==#T[Q[?H+/D1.UIU(C;!
M%14BU72025"QN&E@4^9="/ZTY`-P'T`8'<?`O75GMMKN;786VZG/6:Q4^[(*
MU:UMF#2`OE/A&]80ND0T<Q;T"STS66J<>^44,8JS4.T"E,/?GS_,;?-I:IO1
MMJQPK+?M-VGO^7!1I7%E^U]X0ZKU],P,_&V'94W,U[9LQN%M(6ZZOK*N^ODW
M45:6^DY8SU,%'J`Q+@_:B!B%*?CZ`#.^60YK'4-ZUMV>!TKOJOF1J+\KEM1>
M5?$JGGA'JMVZBG24[L**/&V39UC5"#MCR+&5-MN:3G+?$2*B`"J>'7=DY223
M%,R0\"4W)0SW3$9EJ#Q;HFF[/)W6)G[];K;*0474CV'8=MD+;),:A"J^_&5J
M,7?"4S:/06(F<PG]U4YDP$3>N`=*`'`?PB/XQ$?RX![@#`&`,`8`P!@#`&`,
M`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!
M@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@$I?^R/]GY0P"C26]H!#M[N1Y]>
M/H^P<`GE<>X8"]G'7GGNY_-^+T[0]>W`+'4"^W`M4.>?EE'2'=Z=_MN5?BXZ
M]O//IR.`9(;T#](G]<N`6-E_XM*?HE_)@%5$_P"!:?HG_K#@%TP!@#`&`,`8
M`P!@#`&`,`8!I&Y;9A:QM+6.K'D=)O97:P7,8.0:IG4AX]6C0Z4W+-Y,R?<*
M;I1F<!2#CDWT9TG388KFGU;N.<)/@>6+HC%ZYY&Z^F9S>L;-O4Z4Q\>;;'5.
MV6.V/FT1!F4DZW%61.3;OW:J;=!B=*3*D3W#]ZAR#P&0W790ML6[]MOSG5.E
M,6_B9<[WOIEC7HJVO=NZY:U2>1=.(2SKW*!3K\PDQ0%R]^[9H7WW<]5:MP$Z
MB::AE"EZB7(-!/DMU:DA8F`GY;9]%BX*V&`M9G']GB6L/8!%N+K_`.]$HLY(
MR?@5`.XPIJ&`@CVFX,(!@%OV-MNM4G3%RW6U7;6>K5FDREW0<13Q$S::C&+-
M1TDHP?""B!R.0)RF?@0-TXYY#.U.:R;1VKEQ9-HUE$^24=9MLM=<4JO.K&TA
M*XRMFXKHK,-(BK:F;3C)*7@ZU+/%_<1E[>LR?E.#5$Y2(MBB942B!0#ERE+-
MMT(<I2_<VZ&=UWR/T%;(BU3U:W#KV:AZ(192ZR$=9V#QM5$FRJR#A:?6(L<8
M]N@NW.0ZJO"8'+P)N1#GEI25)8HX:35'D5$9Y#:*F:E8+Y$[<H,A3*H=X2RV
M5M8V"D5!'8B(."RCCW`^3,(_V0'`!<?_``N_*_)L_;'L.?+AN1DM`VGK7:\:
M]E]:WFK7J-C7IXV2=UF7:2J<?(IE*H=B_*@<RC1V"9P-V*%*82CR'3+U*451
M-I(K>ET\LX1?N-;[VWDOJE>CTVI5`]_VOM20E6%`J!I5&O1;L*ZU1D)Z2G[&
MN19."BHYDN!O=]LXJ*"!.,KG&-QUN)2:WG=NU;M)QM144]RH:,E/,FQT*K6)
MWN#3SK6=GJ-\UE6+`V=V@E@ILA#;*<JE2M=.N:#)HA+M(DB1BK-#%(<JQ?;`
MH\AS"M6XNL8I,L-Q,_)W7=G3H,UK2Y5.YU2Y6R7K$K+??;V/>1;F`@I&9?-X
MB#1B'"[N<*T:&4%HY!OWI$`X<\E$>P0T;S*\;]DO9B,I&XJA8'=?K3ZX2:B:
MSUN@K6(A,BDM-,EEP;HO&T010HNQ0$_M"(]P%#*_)M/^5$U9D.G?*;1N]YB5
M@]7;"A;=(PK=-[(,4FTC%R23!98S9&0;Q\NV:.GT2HX*)"ND042$P"`F#CKW
M%*"I#!=`XFMIOOO,`CVF$/7T'Z,ZJWF&V\RK16+V?K#_`!<CZ\\\=/P9!!58
M!")"B/(E`1^L0R5)K)DJ4E@F`*4O4"@`_@##;>8<I/-D600,`8`P!@#`&`,`
M8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`A,<I..X>.?3`(063
M$0`#`(B/`!U_DP"9@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!
M@#`&`,`8`P"4O_9'^S\H8!2HBB!1]SMYYZ<ASTXP">HF'MB*10`_P]HEZ#P)
M@YX'\)><`M%:(*<2B!B]IA6=F$!]1Y<J]1^T,`OIO0/TB?URX!8V7_BTI^B7
M\F`543_@6GZ)_P"L.`73`&`,`8`P!@#`&`,`8`P!@'S_`/*;08[RWQXPEFX2
M?>:^IKG<<K;I:O6>9JKZ-?/Z9%L*P4LA`/6#](%WSDP]Q5"F$2<9UAA4]C33
MC'3YQXJ*E>Q_`XPE?%B^T6X[.D*WI65V!JZM^4VIMN1VO9JQ%L<UN2N,=2.:
M;+/F;B[RKUK,NJI/RB+]1DZ602509G^(RG:4.7T9%7,)QE""BTY8UI[C+J'X
MV72V[5UQ=9C1#:@ZU_\`5):MMGUG81JJJ=*KS;2!J"YL[NM-5I6%B7%^V"0)
M%)JQ65*"'`B!1YP>8::8P#K0\8X_S-TK7]D23FF;XB*CJN9F=?1DQ2X2<VA/
MV6*V"@G<5V,.%-L;%V"2[U,#.HDC=!("#\P0!`[+K]!MUM_=91^MJM7SN;99
M?%Q*I0==1*=B<[V9JADV#%(CON.T`#NRI`8PB)"![@#SP&>=<UEZ%QPC;32=
M,WX$T[363_Q4VIIRH6?46CH%)YJO?>L#URXQ,Q9SBMJS;Y:[\DYO!I!Z1U+3
ME7O(M$V<F*BJAVRQD5$0`A3%'GUM_9:73B_`TV+%NZF[DW%KHK7O,4F].[NW
M%$6RP-?&QEHTE8\9[)I<:=/K5@JVSK')GB7+=RS)6%EF"%0BBQJQ43NC`Y4]
MT""4`,(@>MU"SM4][\#N[IK,+;G"XI2W>VVAEWD/K!2C/9[9JL)3*?6X7_TX
MR$7%2;B.@:7:;91IIZ=S5K&[C4"M(:)>G4,BDN^$S8K@"BH<"=`AZ[4?[2[7
MX&*A5^).U)!O/[@V$EJZOPK/=?E!!U5I#4:TP]DC(Y,*<*4O:7\[6D!@++(,
M7K`6K@[,QTQ5$1]PQ0[A]*+XHJ35&TGV@ZA\CJ%M);8>EMYZ>K,+?+1J<MTB
MY.AR\NUKP6>M7=BA'O?N>Q2"*L>PEHT6@G3(J!05$_:8Q2ASF74ZBY9DHVX*
M55O:_0TZ>S:NINY)QIT5_4U1;J7Y8[HASR=VJ%.IT.3;6IYFF:F5F8N>D:E2
MZG.,Y"Y6"U7%L'W-*34Z5$0;,6I5B,Q('!Q[S<<V=5>NW%"<%&+KC5^!U=L6
M+<'*$W*2ILI^M<L<O>6X/&W:K/=]LN[**KJ58F/)!WLU@X+.-DE$:<;1RE,(
MX)&((>TF[>6)`&YB<\]@^X(B/(9N,A:)OQ1W&77WC?'4>.UU6K?K'3NTZG-O
M'+..-&M+!=JH6*B6C%FHT4;K$6DP!5910%BE4^(2"'(X!2>+WCAONI^1+G<V
MU(E=M%R.EEM>.QL>W9#9=Q3L*%BAI$ZK6/:1,/3JW"R;-!4$V;5$_LHCU-W8
M!]2P*!0`H=`*`%`/J`H<`'\`!@#`+Q@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8
M`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8!2._0GVC_$&`>(H`($4[AY]>./J
M'Z\`K,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`
M2E_[(_V?E#`*1%$%0$1,(<#QZ<_1@%>'PEX]>T/X@P"QUQ<5XLAA+V]KAVGP
M`\\]CE3KZ!Z\X!>S>@?I$_KEP"QLO_%I3]$OY,`JHG_`M/T3_P!8<`NF`,`8
M`P!@#`&`,`8`P!@#`-?;&M<;KRD7B_S;=RK"4VLSEMER,42KO'#&O12TFY(V
M1'GWG1D&7:F`A^<!<G#>>?=GK5<DK:;M[,O$P"@[UUW<M=0.P%9B-J;*0U]6
MMAR<)8)*.0EZC6;*Q4?QBUB02<K$8H&*DJ!%!X(;L,!1Z<99"S<N_P"E%MG=
MN_.VJZM\-<J]^7N+T_W#IV*G8VL2.R]?L;)+/63.+@%[-"IS#Q^^;JFC&[>.
M^9^9]]\@B8&P=H>Z`<)\B(`-BT>I?\C)GK]';@YSN)02JWCX&,VD?&C:-M:4
M2\_Y/WZ]U-V$A&U"R?LS.VN!>I(G=`[8P;Y-U*M5DT4S'`R:8<``C]>/2:E1
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M;[N?1\ML1AI=?9UN<52*@I6UR3Q6.3>EUY.BM9758":3[&[P!.*IC^YV@`\Y
M;&SHG%5G#BZF_=7#'N-V'N/:9Y.1D59V51;Z45H^G%K?;]:T_9,0_K"5:/;Z
M447,O_\`JC&?+/*_&G?-'*#)R94PKF2*`D*`&XQR45)J.,:X=1!8:YYTO.X;
M#>M*6K7NN;%3[O>=4W!6V04]^V<?2VJ\E,,U(6/3:F@Y&3:$!PP;+BN!D#E,
M!!'N`-%B&GE!N[)1G7;7%>Y&343U,9)68MPICEG[S<^B_(JP;(LK>HW[53W5
M4Y9Z@79%+2=6RO6]*STXIVC55=VYB1:&B[`Q7>)^^T*@HB4IA$IQX$<ZOV]+
M&'%9E%SZ*KLJLO?4YLSU<KB5V+5OW'8**2:R9@53(J'=V\*$*<.THD.4O!@'
MX0.`"`>G.8S:5(IIF$!,0@B!N\.2@/!^..X.0_.X^G`!$TTR]J9"$*'H!2@`
M>HCZ!^$P_CP![:?]V3^B7^3`(#>P4>#%3`?J[`_DP"=@#`&`,`8`P!@#`&`,
M`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8!X)2F_.*!N/K`!
M_CP````<````?0'0,`]P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,
M`8`P!@#`&`,`8!*7_LC_`&?E#`)37\PWZ7Y`P":L!A3,!.>[DO'`\#QW!SUZ
M?1@%FK29DXE$IB]IA6=F$.G7ETKU'CZ1P"^&]`_2)_7+@%C9?^+2GZ)?R8!5
M1/\`@6GZ)_ZPX!=,`8`P!@#`&`,`8`P!@#`&`<0>7=RV^PC'="I6C;%N"G;(
MUQL>HV%>E2S!G9*K8YR+4@ZBL^:2<C'$0J\LI(*"ZD40<J,00$_M&#`/G_L#
M2WD#0*=M+7$)X^6W:EGVGX+Z@T:RN%8M560J+*V4.O3];LT?:)2?>1YX]TP/
M8BO&"Y$E1>'3,!>WCG.)ZUZ-*26#?P_B3'1PU;X9-565=M=W89J?Q)O:]&WM
MQJ]LUV!9-L^,DS2)YP^A'ECD:KKN`TX-A>,YA22%W%H5V0@YU-1$JJ*CLIC"
M7J8,C\Y/]SK7V^!9:Y1I(WHN^D["?U9X+<^LPJL>,&[([=M69/X/98%JWDA9
MMLO=FQ;O4T)0'U'G+%(S[19A:EH61V>X6<Q4HC&.(=P\,17Y8_:)0`.8_.-Y
MUH^RAZ/H/[<4>)0AEAAC7^)V'Y?37D++OZOJZBZBV%9-26=F_5VS<M8/Z0PL
MC^(77[4J#")W2PP+B(;SS(ZGSKY$RBR`&$J?(#EBFKB5Q9/$\J481DXVU2"R
MZO=@:"V%X^V&1>RMFA/$:9L"NU=*UJA5:LR]U@D1\?[/48R=@H.2EP^\#,2D
M.T=H+B\CE7#@IT#$'JIUD@[[TA8;%%M%-(3Z3Z9M&H]>:N0G;\8R1HJY2\M7
M%@?J0Y3`"IC)N(<Y3]P]Q14Y'TZ@<GR0^1]RWY)6F_>.%QL.OZ3<5&NF8^!V
M+K^-IS5HT2!B;9-Z@IN89R4S8TOFU3M"=BA6Y2`)?BZX!C#+Q[W793U#QVG*
M=]W:9UCMJW;(;;P=VJ)DG5F@Y5M:I*%@6M<9BC.-IMD_N2[9XY7[VRP("8AA
MY+P!<:KI#R!G4M;ZGV'KVD!1O'BKWF,KUCFIQE/([?=S%3DZ?15VD/%`D_JS
M6,BY`%9!=<1+[X&(4INT!P"_>(?C-LJF[C<[1VG79NJ.:UJ]'6%9CYO;KO:Z
M,D:2?I2TW)UDI_8;56K198U%HQ;G(+LZ*G"O`AS@'U"23]LHE`>>1Y]./H`/
MR8!,P!@#`)"B`*&[A,(=`#CCZOX<`GX`P!@#`&`,`8`P!@#`&`,`8`P!@#`&
M`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`
MP!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8!*7_`+(_V?E#`)37\PWZ7Y`P"I'\
MH?Z1XP"UPW1B!/H37=)@/U]KA3K_`*<`N9O0/TB?URX!8V7_`(M*?HE_)@%5
M$_X%I^B?^L.`73`&`,`8`P!@#`&`,`8`P!@$L$4@$P@DF`G,)CB!"@)S&+VB
M8P\?$82]!$?HP#SV$?A_4I?"``7]63X0`O:`%Z=``O0/P9S*$)_N2=-Z)4I1
MR;53WV40'D$DP'Z^PO/^L/KQ]9A_&.<^3:^V/8B7.;5&VUUD(-T"\"5!$HAR
M`""9`X`QA,(!P7IR81$?PCCR;/V1[$<<,=R(O91[N_VD^_CM[NPO=V^O;W<<
M\<_1G:22HL$B2+L(/')"#P8#!\(=#!Z&#IT,''0<D$LC9NFH=4B")%5.T5%"
M)$*HIV=_9WG`H&-V>X;CD>G</UC@$?MD$2F$A!,3GM'M#DO/KVCQR'/X,`][
M"#QR0H]O(E^$.@B`@(ATZ<@(_CP"$R21PX.FF8.2&X,0I@Y3$#)CU`>I#``A
M]0ATP","E+SVE`.X>XW``'<8>`$P\>HB`>N`>X`P!@#`&`,`8`P!@#`&`,`8
M`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#
M`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`EJE$R9BE#D1
M#H'\(?7@$AH8!!0H#U(<`,'7H/:`_8/3`*HP\!U_G%#\9@`/](X!:(-0BC,Y
MB#W`#QX'/`AU]\X_2`?0.`78WH'Z1/ZY<`L;+_Q:4_1+^3`*J)_P+3]$_P#6
M'`+I@#`&`,`8`P!@#`&`,`8`P!@#`*;WS>[[?:''=V\]><`J<`8`P!@#`&`,
M`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!
M@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`
M,`8`P!@#`&`,`8!`H82$,8.HA]?VA@%*S)V^\;GJHH!A^H."@'3`*LP<A_[Q
M1_$8!_)@%G@4@19*%*(B`O7ANO'TKF#Z./JP"\&]`_2)_7+@%C9?^+2GZ)?R
M8!51/^!:?HG_`*PX!=,`8`P!@#`&`,`8`P!@#`&`,`8!YVEYYX#GZ^`Y_'@'
MN`,`8`P!@#`&`>&,!0$QAX`/4>H^H\?1U]<`\(<IPY*/(<\>@AU]?I`/KP"+
M`&`,`8`P!@#`&`,`8`P!@#`&`,`\-SP/'KQQTZ?P\_@P"D9-"LD11(HJH45#
MJ=RIS'-RH/(@`F$1`H?0'I@%9@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#
M`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P#P1`H"(^
M@!R/V!DI5=%F<RDH1<I?M2)?O$[1/\0@'U%,(_B`.<EQ:=&1:G&__I]^'Q*8
M)%F*QVX+![Q"E.=(2F`Y2'4%(IA*(<]ICAQSZ8<6L6;'I+Z@KC7T-X.JW5*C
MYA+^=_V3?R9R9:JK6U$T!`0`0]!`!#[!ZA@D]P"4O_9'^S\H8!*:_F&_2_(&
M`1F53'@@&^+O(''!OH.7GKQQ]&`6:M"(QZO(B/\`Q[WU'G_XPX!?C>@?I$_K
MEP"QLO\`Q:4_1+^3`*J)_P`"T_1/_6'`+I@#`&`,`8`P!@#`&`,`8`P!@#`&
M`,`8`P!@#`&`,`A.0#E$H\\#QZ>O00'Z>?JP#Q-,$P$I1$0$>>O'U`'T`'U8
M!'@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`
M&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8
M!`I^8?IS\(]/KZ9*JGAF0X*XN!Y/`U?:KDZBU1AH5!M,60R!U2QI%1:(L69A
M(*DK(NUC'30;M2AR!!X.L(\%]!RQ*3>&,_@>_P`HY/"<5.[6.GJL<VW6BBDL
M<?9&N]30#N0G9W94P^D'LG,-OV>BE'P+MN^#CGJBZKI*-[@019O7/(MC&(*H
M)@'<<W/.1POA<WF>ISM0T[]!;C2-N6-,D]BZ]K-__P`@?Q96?%+_`%)>V\NJ
M?]FG^@7^J&#LCP"4O_9'^S\H8!*:_F&_2_(&`1?+D`P'Y-SW@;U#CGN`?JP"
MVP21462A2B80%Z\-\7`CR*Y@^@`Z=,`O!O0/TB?URX!8V7_BTI^B7\F`543_
M`(%I^B?^L.`73`&`,`8`P!@#`&`,`8`P!@%(*2@K=X?F]Y1_.^@!#GI@%7@#
M`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`
M8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@
M#`&`,`8`P!@#`&`4KH1`"<"(=1_B#`,.M%E:UN,%TH"CMZZ7)'1,8U'O>2,J
MN()MVB28"!BE*H8HJG'X$B=3"`8++2K=BNE&JFD`X<2*]7=N47T],G++[&GV
MP\)?(@8IV\(S(/)V+!VD</93$>X"E,?T.&=4QIVGL>8X1\R+?"OVKIR7O.AV
MJ22;=`J::9"$1(FF4@!VE2(`%(4HA_J@4`R'F>1>E)W)5;>-<=Y4<!]0?B#(
M*CW`&`2E_P"R/]GY0P"4U_,-^E^0,`J1]/X0_C#`+7#_`.$/_P`V\_\`L@^`
M7,WH'Z1/ZY<`L;+_`,6E/T2_DP"JB?\``M/T3_UAP"Z8`P!@#`&`,`8`P!@#
M`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`
M8`P!@#`&`,`8`P!@#`&`,`8`P"E47.13L`"\=/4!YZ_PA@%5@#`&`,`8`P!@
M#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P"$X]I3&#U`HB'/X`$<
M`MYCG7,7N$H%)W")`(/*AC!P0ONB82I`!@^D!YYP#5CV%+$/7>Q+<5)S+LFS
MN-A&"*ICLX]F\$$6K!HC^:I+R*Q@(JX$1[BF`I0+@E-Q:DLT9;3:ZI%1CC[R
M7*YEY)PH[E%$P*`$%4`!HQ*(@97V8YB5-%,#&,)2$#J(]<E.A?+57)--TJC-
MBE`A2D*'!2@``'U`'0`R,RB3<FY/-D6"!@#`)2_]D?[/RA@$IK^8;]+\@8!4
M&]/_`'B_Z3`&`6^**!4%BASP5X[`.?7^V,/7\>`7`WH'Z1/ZY<`L;+_Q:4_1
M+^3`*J)_P+3]$_\`6'`+I@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,
M`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!
M@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`
M,`\$0#_VZ_\`L&`:\?I#8+4U1$@&B*P)I)V)B%]EY83`",4F"@C\9HUN8RG'
M]X)0P#.&G_Q/_=__`"L`K,`8`P!@$I?^R/\`9^4,`E-?S#?I?D#`*@WI]@E'
M^`#`(_Z`P"@C>B;@OT@[<&_@4/WE_P"R.`5YO0/TB?URX!8V7_BTI^B7\F`5
M43_@6GZ)_P"L.`73`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#
M`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`
M8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8!CEG
MFD*_&+RSD3`BU06'M#@1<.%A3;LV2?4!!9T[6(!1Z\<#@$B#CQ91[-JMR98Y
MOFWHB(")WS@H'7[AZ\^RH/:7ZNT,`R9-(J?/;SUXYY'GTY_EP"9@#`&`,`E+
M_P!D?[/RA@$IK^8;]+\@8!4CZ#]@_P`6`6^/_P#WG_Z__P"07`*\WH'Z1/ZY
M<`L;+_Q:4_1+^3`*J)_P+3]$_P#6'`+I@#`&`,`8`P!@#`&`,`8`P!@#`&`,
M`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`0G,!"B
M8>>`XYX_"(!^7`*<KM$ROL`(BM[0K`GP'<9,#=HB7D>!^+I@%2`\@`\"'(`/
M`^H<_0/KU#`/<`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`
MP!@#`&`,`8`P!@#`&`,`8`P"!3D4S\`(CV&X`/41[1X`.>`Y'`,!EFK:9GX2
M(6'XHLZ5A<)CQ^K,0XIL"]!'E7W4CB8.@`7@>1YXP#/R``%^$.`$QC?PF,)A
M_P!(X!%@#`&`,`8!*7_LC_9^4,`E-?S#?I?D#`(C+DY`H`81]PA>@?3WE#Z_
M3`+9!NTW:+P4RJ%]J1=IG!0H%'N]SNY#@QN0X-@%Y-Z!^D3^N7`+&R_\6E/T
M2_DP"JB?\"T_1/\`UAP"Z8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#
M`&`,`8`P!@#`&`,`8`P#SD!]!#`/<`8`P!@#`&`,`8`P!@#`&`0F*!RB4WH/
M'/\``//Y,`DE:HE4%4I.%13%(%/]<""/=P41]/B'G`)X!P`!R(\``<CU$>/I
M$?KP#W`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@
M#`&`,`8`P!@#`&`,`A,`F*8`$2B)1`#!Z@(AP`A^$,`L+"-3+*RLBH4!<*."
M)IJ!T_4D;D`J8\>H$[OQ\X!?P#@.`P#W`&`,`8`P"4O_`&1_L_*&`26H@!3<
MB'YWY`P",4TRB!R_G=Y?IY_..`#T^P<`M%<-WLW"H@`'4D'@F[0``$05XYX#
MTZ!@%]-Z!^D3^N7`+<S1)\U(+\#[AG`I#U'CL*FD8`X].>3>N`>1/^!:?HG_
M`*PX!=,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&
M`,`\'J`A^#`*=%$R9A$PE'D..@C]?X0#`*G`&`,`8`P!@#`&`,`8`P!@#`&`
M,`8`P!@$E=<C<@**#P3N*43?07N'@#&Z]"\X!C,I=ZQ#3T/5I&78-;+8DWRU
M>@EGK).4FT8HB"LJM&LSN`77)&HN2'5Z!P!@XYP#)!=)@(AP?H/'H'^U@$TA
MP4+W%Y`.>.O'/3[!'`(\`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#
M`&`,`8`P!@#`&`,`8`P"T13DBYI!(@'`S1ZH@H)@``$_:4W).#"(EX'Z>,`N
M^`,`8`P!@#`)2_\`9'^S\H8!0IHF4`1*)0X'CJ(_D`<`G%;G*8IA$G`&*(\"
M//YP?]7`+?7DC(L5"F$HB+YX;X>1#@5C!](!UZ8!>S>@?I$_KEP"C9_VC[_G
M#?[E'`),3_@6GZ)_ZPX!=,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!
M@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`H!76Y'[1_
MU?\`HP`"ZW(<CP'/4>ST#\6`:KJ]HVE,VFQ0]PU:C5*C&BM^S]M"Y0D\:T]C
ML`0,I7F*"3Z`'V0`W:JHMW?6&`<PVK6M,JGF_HV\P[%P2W["K&\"6B6?2LA)
MN'+)E`UU6/C62+]RX0AXM!TD)DT6I$2"83>O(X!TY>[)LR$F:XTHVLV=WAI!
M<I+/,N+O%U92L)";@548]]'O%97X>O800$?K#`-NM>?9+W!P8>!,'`]#"`<@
M!AX`X`/^L```^H!@%1@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`
MP!@#`&`,`8`P!@#`(3F[2F-_-*)OQ`(X!B<8H=M*SK8#!RJJP?)@)0`3%=-`
M]XQ>0`3E]Y,?P!Z=,`RD#&%'O'\[L,/I](`/'3`($%#G[^_Z.WCIQZ\\_P`6
M`5&`,`8`P"4O_9'^S\H8!*:_F&_2_(&`5(^G\(?QA@%KA_\`"'_YMY_]D'P"
MYF]`_2)_7+@%&S_M'W_.&_W*.`28G_`M/T3_`-8<`NF`,`8`P!@#`&`,`8`P
M!@$I14$N!$!'GGT_!@$9#=Y0,`<`.`18`P!@#`&`,`8`P!@#`&`,`8`P!@#`
M&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P"4J05"=H"`#R`]?P8!;5
M8AHLN@]5:-%G[--9-F].DE\XV37``7;MGAFZCEHBYX#W/;'DP!Z8!7(H&3-W
M")1Z"'`<_3_!@%3@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@
M#`&`,`8`P!@#`&`0GZ$./_5-_$.`8>IRVL<8Z4ZHNF/W84P#T2<(G.L7W!-P
M':X!;@G'7DH\_1@&8%_-#J`^O4.H>H_Q8!%@#`&`,`8!*7_LC_9^4,`E-?S#
M?I?D#`*@P\!_[Q0_&8`_+@%G@5069*&*`@`/7A>O'T+F'Z.?KP"\&]`_2)_7
M+@%&S_M'W_.&_P!RC@$F)_P+3]$_]8<`NF`,`8`P!@#`&`,`8`P!@%"\3.<[
M<Q53E*0YA.B5,#@N`@'!#'[3&3`..>0X'`*M/\POP"3I^8(]W;U].?IP"/`&
M`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`\`0'T$!^P0'`/
M<`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@'@B`>H@'VCQ@'G<7^<7\
M88!%@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`\$`$!`?00$!^P>@X
M!:W[)LL5N"B?((N4G2?!U"B5=N(F1/R4P"/:)AZ#T'Z0'`*Q!5+CV@43%8I?
M=.EWE%0H*G,)3F)SW%*<W/`\<#]&`5.`!'CJ/0`ZB(_1@$!%$U.134(H`#P/
M88IN!^H>T1X'`(^>>H=0P!@$I?\`LC_9^4,`E-?S#?I?D#`(0.J94"FY[._^
M:`!\(\EZ\`/J`8!1P:9$V9RD#M`7CP>.1'K[YP^D1^@,`NYO0?QA]H=0_P!.
M`4+'D?FA'\X7)A-]'7VT_H^CI@$J)_P+3]$_]8<`NF`,`8`P!@#`&`,`8`P!
M@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8!2JKEX.G
MP;GJ7GIQS^/`)"*H)=W("/=QZ<?1S_+@%>4W<4#!Z"'.`18!3&<E*82]IOA$
M0^CZ!X^O`//FB?S3?Z/Y<`GF.!2>X(#QP`\?3UX#\N`>)J`H`B`"'`\=<`F8
M`P"01<IS]@%$!Z]1XXZ8!/P!@#`&`,`8`P!@#`&`,`8!X8>THF_F@(_B#G`*
M!98%0*``(<"/KQ].`2TO[0GZ08!=,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&
M`,`8`P!@#`*1WZ$^T?X@P#"YV$>.G#28@7/R%@CQ*5-4Y@,WE60G$R\._3,0
M4RMU`X]M0.3IFZAQ@%Z@YYO*G72,1=E(M^$G<8[`$EDCIB8/?33$>3(.#<]I
MPY`P%YP"X.9)L@U=KNQ^50:)J*.5G!RHHII)!W*'%<P]G84H>N=<-54O5B34
M6FOJ[3#JQ.R<\]=S#=))M4U2I$A"G:JMGLBG^L]]^8BA2]J)SE+[8CP(EY'.
M2+UEV:)M-O=L-B$X["\=`[0$.?J$.<%)%@$I?^R/]GY0P"4U_,-^E^0,`J1]
M/X0_C#`+7#_X0_\`S;S_`.R#X!<S>@?I$_KEP"C9_P!H^_YPW^Y1P"3$_P"!
M:?HG_K#@%TP!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@'@B
M!0Y,(`'UB(`'^G``"!@Y*("'U@("'^C`/<`A$Y"CP8Q0'ZA,`#_I'`//<3_O
M"?TB_P`N`>"HGP/!R<\?SB_RX!0_,+?S_P#LE_V<`?,+?S_^R7_9P!\PM_/_
M`.R7_9P!\PM_/_[)?]G`'S"W\_\`[)?]G`'S"W\__LE_V<`?,+?S_P#LE_V<
M`@$%#<G$IAYZB;M'C[>0#C`(,`F@LJ4``#<`'0`[2_E#`/?F%OY__9+_`+.`
M2A$1$1'U$1$?M'J.`>@4QOS2F-Q]0"/\6`1&54$HD,/0.`$!``]!]/3GH(8!
M4-C%*4W<8I?B^D0#Z`^O`)JJI0(82'+W=..!*(^H<].OT8!"BKR414.7N[AX
MY$I>G`?1T^G`(P]@H]P&3`>O7O#Z?X<`C]Q/^\)_2+_+@%"+A7D>#].?YI?Y
M,`J450$G*AR]W(^HE*/'3Z.F`%E0`G*9R]W(>@E,/'7Z.N`2"JN#<"'<(<^H
M$`0_#U`N`5^`,`\$P%ZF$`#TY$0#^/`(?<3_`+PG](O\N`/<3_O"?TB_RX`]
MQ/\`O"?TB_RX`]Q/^\)_2+_+@%$JL?N.4IP$@].@%$.!#KUXYP"GP#T!$H@(
M=!`>0'_\>`5S=0Y^_O'GCMXZ`'KW<^@!]6`5.`,`8`P!@#`&`,`8`P!@#`&`
M,`8`P!@#`&`,`8`P"$Q"GX[@YX],`EBW1,`@*8"`AP(=>H#_``X!CTO6V+\Z
M+@I'*#U(%"IR#1<2NDBG`@=IQ5,<'!`[?A*?N`G7@`Y'`,?_`&+07]D)=W,V
M!)L<ID$9)5-)J7L'N`JS1F1NB\3`0ZE5*<H_2`YTDMIZ5F]&%I13C&5/?_$R
MU)`Q`$"IG*7IP7@_80``"@5,H_"F0H`'!2@!0^K$C/J7%\-&GF7=,."$`>@@
M0H"`_1T#.3*1X!*7_LC_`&?E#`)37\PWZ7Y`P"H-Z?\`O%_K!@%OBP`J"Q0Z
M`#UWP'U?KC#_`!C@%P-Z?^\4?Q&`1_$&`4;+J=\(=0%V80'Z!#V4>H#](8!)
MB?\``M/T3_UAP"Z8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8
M`P"@67`Y>SM$.#>O//IS^#`"2X)E[1*(]1'GGZ_X,`F?-A_,'\8?R8!3*J>X
M;N`..@!Q]F`2\`8`P!@#`&`,`8`P"I]\/:]OM'\WMYY_)@%-@#`&`,`GHK`D
M!@$HCR(?3QZ8!*,/<8QO3N,(_C'G`(<`8`P!@#`&`,`8!4I+@F7M$HCU$>>?
MK_@P"9\V'\P?QA_)@#YL/Y@_C#^3`)2JX*%`H%$.#`/KS]`A^7`*?`&`,`8`
MP!@#`)Z*H)=W)1'NX^GCTY_EP"O*;N*!N..0YXP"+`&`,`8`P!@#`&`,`8`P
M!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8!*7_LC_9^4,`I$5@2`0$HCR//KQ]&
M`5AC#VE$`Y[C)=/J`3EY'^`,`M\28QD7/<F).'SL`Y'GN#W1'D.@=.<`N9O3
M[>`_I"`?EP"A8AVB[+Z]CHQ>?K_5)#^7`),0("P9\"`\IF.'`^I1,/!OL'Z\
M`NN`,`8!"!R&'@IBB/U`8!'_`$#@$6`,`8`P!@#`&`,`A$Y`'@3E`0^@3``_
MQX!Y[B?]X3^D7^7`*3WC>]QW_!W_`%AQQS]?U8!5^XG_`'A/Z1?Y<`>XG_>$
M_I%_EP![B?\`>$_I%_EP![B?]X3^D7^7`*9=40$OMG#C@>>T0'ZO7UP"H*H3
MM+R<G/`<\F+Z\=?IP#WW$_[PG](O\N`4!EE.XW!QXY'CCCTYZ?1@'GOJ_P`\
M?]'\F`/?5_GC_H_DP![ZO\\?]'\F`2L`8`P!@#`&`2_>2_O4_P"F7^7`'O)?
MWJ?],O\`+@#WDO[U/^F7^7`'O)?WJ?\`3+_+@#WDO[U/^F7^7`'O)?WJ?],O
M\N`4KE?M`GM*%YY'N[1*;ZN.?7C`)R2Q!3()U2=W'Q<F*`\_A#D.,`F>\E_>
MI_TR_P`N`/>2_O4_Z9?Y<`>\E_>I_P!,O\N`3`$!`!`>0'J`AU`0'T$!P!@'
M@B!0Y$0``]1$>`#^$<`@]Y+^]3_IE_EP![R7]ZG_`$R_RX`]Y+^]3_IE_EP!
M[R7]ZG_3+_+@#WDO[U/^F7^7`'O)?WJ?],O\N`/>2_O4_P"F7^7`'O)?WJ?]
M,O\`+@#WDO[U/^F7^7`'O)?WJ?\`3+_+@#WDO[U/^F7^7`'O)?WJ?],O\N`/
M>2_O4_Z9?Y<`>\E_>I_TR_RX!&`@8.2B!@'T$!`0'Z/4,`]P"!01*FH(=!`A
MA`?J$"B(8!:?F5_[P?Q!_)FO26X7'+C5:4!-9KK'54*LH(AW<$`W`!QTX`O0
M.<OOV+<;;E".(1=,\T%>"A2H!P<H&`G0.0YYX^KZ\`I??5_GC_H_DP"--8XG
M+W'^'GKSP`>@_3@$Q=40$OMG#C@>>T0'ZO7UP"!)8XJ%`Y_AZ\\\`'YH\=>G
MTX!&NJ(&#VSAQQU[1`>O/\.`5!5"=I>3DYX#GDQ?7CK].`>^XG_>$_I%_EP!
M[B?]X3^D7^7`(@,!NI1`0].0$!_BP#P#D$>`,41^H#`(_BYP"+`&`,`8`P!@
M#`&`,`8`P!@#`&`,`8`P!@$I?^R/]GY0P"G;ID.4PF*`B!OP_4&`58]```^@
M2AT^KN#G_1@%(Q!0$UO=*8H_-.1+W%[1$@J")!`!`.2B'H.`59O0/TB?URX!
M1L_[1]_SAO\`<HX!1Q?ZF.9&'XNQL5`0].>PP_%SU]>/3`*_YL/Y@_C#^3`'
MS8?S!_&'\F`/FP_F#^,/Y,`IDE/;-W"'/00X^W`*GYL/Y@_C#^3`'S8?S!_&
M'\F`4BTJ"1Q)[`FXXZ^X`>H<^G8.`2OOD/\`[G'_`.VA_P#F\`??(?\`W./_
M`-M#_P#-X`^^0_\`N<?_`+:'_P";P!]\A_\`<X__`&T/_P`W@#[Y#_[G'_[:
M'_YO`*8\@!SB;VA#D?3O`?\`3VA@$'SP?W8_T@_V<`?/!_=C_2#_`&<`?/!_
M=C_2#_9P#WYX/[L?Z7_=S;#1N<%+BS6[Y@?.A_=C_2_[N=>A?W=WS(J/G0_N
MQ_I?]W'H7]W=\Q4?.A_=C_2_[N/0O[N[YBH^=#^['^E_W<>A?W=WS%1\Z']V
M/]+_`+N/0O[N[YBH^=#^['^E_P!W'H7]W=\Q4?.A_=C_`$O^[CT+^[N^8J/G
M0_NQ_I?]W'H7]W=\Q4I5Y<$3@7V!-R4#<^YQZB(<<=@_5CT+^[N^8J2?OP/_
M`+F'_P"W?_L\>A?W=WS%1]^!_P#<P_\`V[_]GCT+^[N^8J7#YT/[L?Z7_=QZ
M%_=W?,5'SH?W8_TO^[CT+^[N^8J/G0_NQ_I?]W'H7]W=\Q4HEY<$S&3]@1Z?
MG>YQ^<'U=@^G./0O[N[YBI;/G@_NQ_I?]W'H7]W=\Q4?/!_=C_2_[N/0O[N[
MYBH^>#^['^E_W<>A?W=WS%1\\']V/]+_`+N<RT;C%RXLEN^8J>?/!_=C_2#_
M`&<Q$GOSP?W8_P!+_NYLMZ1W(*?%2O1\R*CYX/[L?Z7_`'<[]"_N[OF*CYX/
M[L?Z7_=QZ%_=W?,5'SP?W8_TO^[CT+^[N^8J/G@_NQ_I?]W'H7]W=\Q4?/!_
M=C_2_P"[CT+^[N^8J5Q)H"$*7Y81[2E+S[O'/``'/'MCCT+^[N^8J5:$H"P&
M'V1+VB`?VG//3]`,>A?W=WS%2D7EP,"B7RXAU$O=[O/YIO7CL^GC'H7]W=\Q
M4H?G@_NQ_I?]W'H7]W=\Q4\%\`?_``Q_I!_LX]"_N[OF<7;GE0<Z5H>?>!?[
MH?Z0?[.3Z!_=W?,R>N7V]_R(OG@_NQ_I?]&1Z%_=W?,W)U2>\?/!_=C_`$O^
M[CT+^[N^8J/G@_NQ_I?]W'H7]W=\Q4?/!_=C_2_[N/0O[N[YBH^>#^['^E_W
M<>A?W=WS%1\\']V/]+_NX]"_N[OF*CYX/[L?Z7_=QZ%_=W?,5'SP?W8_TO\`
MNX]"_N[OF*CYX/[L?Z7_`'<>A?W=WS%1\\']V/\`2_[N/0O[N[YBH^>#^['^
ME_W<>A?W=WS%2M0EP(5-+V!'XN.[W./SC"/IV#Z<_7CT+^[N^8J7/YT/[L?Z
M7_=QZ%_=W?,5)2SX/:5_5C_9G_U@_FC_`-7,=R'ES<,Z$EF(^2Z]_P"K#Z.3
M`//^@/3++%[R6W2M01%D"$4*)2=X%,40$#``&]/P#QET]9QP<>'-;_D07\KQ
M(4R**""8'YX`1Y]..>O`?7F(D]^=;_WA?QAFJ.EG**DLF@0&>I!QV?K/7G@P
M!Q]7T#ZY5=LRM4KM!#\\']V/](/]G*@/G@_NQ_I!_LX`^>#^['^D'^S@#YX/
M[L?Z0?[.`1B]1[>2F`Q^`^`!#GGZ0_@RRU;\V:A6E0"O4O\`7$$Q^@!,'4/K
M^C-+T<EDZ^[Y@B2=`JH!`((<\\#W<^@<^G'TYC:HZ`J!D`:_JQ2$_=\?/?V^
MOP\<=IOYN0"F3D@(?O\`9$?7IW@'K^'M'`*PLP@(?K"^V;^:)P'I]?/:&`1M
MY1-93L.G[0=HCW&4Y#D..G'8'K@%;\RW_O2?CP"7\V'\P?QA_)@#YL/Y@_C#
M^3`'S8?S!_&'\F`/FP_F#^,/Y,`?-A_,'\8?R8`^;#^8/XP_DP!\V'\P?QA_
M)@#YL/Y@_C#^3`'S8?S!_&'\F`/FP_F#^,/Y,`?-A_,'\8?R8`^;#^8/XP_D
MP!\V'\P?QA_)@#YL/Y@_C#^3`'S8?S!_&'\F`0*.`.0Q>T0Y^GG\/V8!"BL"
M0"`E$>1Y]>/HP";\V'\P?QA_)@$9720A\9@3'GH!A]0^O`/`7!0P$`/4P<&Y
MY#X1Y_T\8!1,U_\`C)%OV]2*^]W<^O<1,G;QQ]';ZX!9F)G?W4V_MN?B_P!4
M?3N'\&`7!O[GMC[O=W=P_G!P/'`<?P8`<>Y[?ZON[N0_-#D>/IP`W]SVQ]WN
M[NX?S@Z\=..GTX!/P"@<"X!0?;]SMX#\THB'/T_1DI-@D=SS_P"=_1'^3#30
M)!S'[NY0#"8.!$#!P(\>@"`\>H9`(/F/>^'Y?V>.O=V]O/T<<\CD\+Z.U`8X
M7T=J!X`\_7_"`A_&&&J`A4[@3/V\]W:;MXZCW<#Q]G7(!3-A6Y/[W?QP';R`
M_AY]`R:/H[4"H4,($-V]W<)3=O!3"/=P/'T=.N0"W=SP/[[^B(_Q!@%Q2$WM
M$$_/=V_%R'7G\(>O.`1\\_7^(0_TCTP"+/:L_P"E'_*B`(\?7_``C_$&6-T!
M1%%Q[_7O]KO/ZAT[?B[?HYQ5=(/7)E@,7VO<XX'GM*(]>?IZ9(*;N>?4M_0-
M_LX`[GGU+?T#?[.`.YY]2W]`W^S@#N>?4M_0-_LX`[GGU+?T#?[.#GB73V,D
M*"H)@]WN[N.G<`@/'(_6`=.<AM(E8DO(XET]C)&.)=/8P57>[^I;^@;_`&<<
M2Z>Q@][G?U+?T#?[.2G4#N>?_._HC_)D@ISB<3<J=W=TY[@$#?@Y`0`?3`(<
M`8`R&Z`\_P#;T'*[DEY<L_VO8]P/.>?K_$(?QYXI)%GL:?\`T(]7ZL@9>!@'
MG//U_B$/X\`]P#S(;H0W09'$NGL8JNGL9-3,L4!]KW..>O80Y@Y_#VE'C'$N
MGL8XET]C+0H9W[A^BWYYO]0W\X?^KG1'$NGL94MC*"4WN]_<`\AW%,'P\!Z=
M.O7!*=2)P8WLF]ON[_AXX*;G\X.>G'U9*S*-5C9?N^);.YY]2W]`W^SDGE<+
MZ.U$SO=_4M_0-_LY7Q+I[&>W#]JZBN;&4$@^[W]W>/'<4P#V\%_!Z<\XXET]
MC\#HJ.0_#_1-_)DU3]F!_P"WIQ_'D@?^WIS_`!8`_P#;TX_CP#W(;H#S(XET
M]C`Y^W\0C_$&.)=/8P.?M_$..)=/8P,E.H(@Y`0X]>0XXZCS]''X><D%3W//
MJ6_H&_CXXP"`QG7!N[W>W@>[DI@#CZ>>GIQGCZG_`%Y>VPDH5?9Z>[V\=>WN
M'C[>,H!&3M`I>SCMX^'MZAQ^#C`*E3Y@4T_=]SV_B]KW`$I?]7O[.[C\'.`2
M<]JQ_HQZD07!D/`*>OJ7T`1^OZ@S)K55Q]_Z$HK_`*.?_P`?XO7,/"^CM0*-
MR9;DGL^YZ#W=I3?@X^C'"^CM0*D@B)2<\]W:'/("'7CKSR'KSCA?1VH$>3PO
MH[4"24J`*<E]OW.3>A@$W/7NZ<\\\<Y?I4U>66WX$$2@("(>[[?/'3O,`#QS
M]'(ATYSU@3T^\#![7//'P]G4>./HXY^C/#E%\3RSWHD]4%03![O=W<=.X.!X
MY'Z^.G.<M4!+'I_T=?XN<@$E0J`F_6^WW<!^<8H#QUX^G`)_'V?C`?XL`\P"
MJ[GGU+?T#?R=<`]Y>?\`S?Z(_P`F`5#<5^\?=[^WL'CN`>.[N+Q]'KQ@%;@'
MG/V_B$/X\`\/SVF[?SNT>./KX'C_`$X!2MA7Y/[W?QP''<`^O/T!QR.`5?<'
M3\[J'/YI@_'R'0<`]YY^O\0A_'@#`&`,`<\_7^(0_CP!@#GGZ_Q"'\>`>#Z#
M]@X!1LQ7$7'O^YP"I?:]P#`';V?%V<@'(=WU?3@%9S]OXA_DP"4J5`1#W?;Y
MXZ=Q@`>/Q_7@$SDX=GM<\]Q`#L#D>WD.>..>G;@%'%"H,G+>YW<\AQW`(#V\
)$XXYXZ<X!__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>chart.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 chart.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@`Z@*``P$1``(1`0,1`?_$`0,``0`!`P4!`0``````
M```````(!@<)`0(%"@L$`P$!```&`P$```````````````$%!@<("0,$"@(0
M```&`@`#`04.#PL'!P8/```"`P0%!@$'$0@)$B$3U5D:,105E5:6MM87E]<8
M6`I!42)4E-06=C=7MSAXF#GP87$RDG.STW5W&8&1L4+2)57!T2,S-;4ZH>%3
M)#0V0Y-$I$5E1J8G1V=HB"E)$0`!!`$"`@,)"0L(!P<"!P$``0(#!`41!A('
M(1/3,=&3%%24%58(05$BDM)T%A@983*R(U.SM%47-SAQD5)R,W-U"8&QPB0T
M-3;PH4)C)46%94;Q@D.CPT1D)__:``P#`0`"$0,1`#\`[_``````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````ZGG,5\Z(/I7F
MUYEN4^A=-KF!Y@)OEGV1-:]M%JUI=FD@U>^A;Y:/:SKB&CM>S;F!9RZS93O"
M:ZQ\Y[&<=K.<9QCN5,?>OJJ4H9)5;IKP-5VFNNFNB=&NB_S'4M7Z5%$==FCB
M:[73C<C==.[IJJ:Z:EM?*K]J>)=YTO3AY\$@[GT>SOD=GP;^\=/T_@_+*WA6
M=\>57[4\2[SI>G#SX)`^CV=\CL^#?WAZ?P?EE7PK.^/*K]J>)=YTO3AY\$@?
M1[.^1V?!O[P]/X/RRKX5G?'E5^U/$N\Z7IP\^"0/H]G?([/@W]X>G\'Y95\*
MSOCRJ_:GB7>=+TX>?!('T>SOD=GP;^\/3^#\LJ^%9WQY5?M3Q+G.EZ</?@D$
M?H]GO([/@W]X>G\'Y96\*SOCRJ_:GB7.=+TX>_!((?1[.Z:^)V=/[M_>'I_!
M^65O",[X\JOVIXESG2].'OP2!]'L[Y'9\&[O#T_@_+*WA6=\>57[4\2[SI>G
M#SX)`^CV=\CL^#?WAZ?P?EE7PK.^/*K]J>)=YTO3AY\$@?1[.^1V?!O[P]/X
M/RRKX5G?'E5^U/$N\Z7IP\^"0/H]G?([/@W]X>G\'Y95\*SOCRJ_:GB7>=+T
MX>?!('T>SOD=GP;^\/3^#\LJ^%9WQY5?M3Q+O.EZ<//@D#Z/9WR.SX-_>'I_
M!^65?"L[X\JOVIXEWG2].'GP2!]'L[Y'9\&_O#T_@_+*OA6=\>57[4\2[SI>
MG#SX)`^CV=\CL^#?WAZ?P?EE7PK.^/*K]J>)=YTO3AY\$@?1[.^1V?!O[P]/
MX/RRKX5G?'E5^U/$N<Z7IP]^"01^CV>\CL^#=WA](,%Y95\*SOF1CI,==&/Z
MHV^]Z<OCKE&V;RP731%"B;Q9&NR;:QEI-7,M864$E".(`M5K<E$.RD>%<=M7
M!L&3[G9QQQG,KF@FK2+%.US)6]U%314UZ>E%)E!/!:B;/6>V2!W<<U45%_D5
M.A3/J.(Y0```````````````````````````````````````````````````
M````````````````````````````````````````````````#HD<A3ERWZW'
M7O\`.SA=#)]W5_M]X641[>,7R]]GM][,7M8+QSPX\>'$7XY'1QR7+S941S=(
MET5-4UTF]Q>C_26.YU:>+XY?=ZR7\%AGCQ)2G#N2#[A^^]<\?Z3/^G(R/\5J
M^[%'\5O>+!?!U[@]$Y3_`(@]^S'/^V'BM3\E'\5O>'P/>'HG*?\`$'OV8Y_V
MP\5J?DH_BM[P^![P]$Y3_B#W[,<_[8>*U/R4?Q6]X?`]X>B<I_Q![]F.?]L/
M%:GY*/XK>\/@>\:&DY/&.[(O<8_>>.?ZS`>*55[D4>O]5O>'P5[B(14V9SMZ
MLU))[XA;M*7YC,\OM6U)<;/%-H9X[>W&$WC+.JUKDVKT2ORYNCN8M[%6%413
M[T9"5)WDW=,4V:8N[@P>/DM0V(D;)5;&JIU:?#23B:W@Z/A:O:YG1KTII[I.
MZNWKUYE62NC%CM/D8U=>ABQ:.?UG1\!$:J/U_HE\#[DI"#4CMUM*L-$C)VU0
M_GFYQY<H'U]C&-B-U<D?J$\\:]6XI392F-Z&JER5;)>`FJ7,+U:2.2%NJ/Z%
M1FOXM='_`!?=_P"_0EWB-GB5$B>OWO2C5Z>/[Q4_K_\`A_I=U"EGW-#HR,KU
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ML=SQ6I^2C^*WO'6^![P]$Y3_`(@]^S'/^V'BM3\E'\5O>'P/>'HG*?\`$'OV
M8Y_VP\5J?DH_BM[P^![P]$Y3_B#W[,<_[8>*U/R4?Q6]X?`]X>B<I_Q![]F.
M?]L/%:GY*/XK>\/@>\;324GW?]X/^.<9X<'CCZ&/,X94Q]`1\5JZ_P!E'I_5
M3O$/@_\`9#%;T6%55_G"G67454.JH;5^O^T=4QCG-G%@I>/JCGR8V<XQCAYH
MPGWZU&[JM-3H1.!$]Y$X&]":>X9=\O-/H;1T_)+^$X[E`H\K0```````````
M````````````````````````````````````````````````````````````
M`````````````````````````````Z(7(?\`MN>O;_?=`>SV]"_7(O\`XV]_
M5B_U2ECN=7_#X_\`O)?]3#.\,E"P"]U0!``````TSCC_`)^($44A1O7DT@-V
M<T'*OS%OY\\8WT')OE[W22(KG8;BAH*;CMBZA@YTR1R-S-=:[DB$)U#"Y5"Y
M[ZL4F"F-C(H[.[49F<M6R76.C2)')(B=UZ=#H]5_\J1K7M33N\7OZE28O<$F
M.Q%S%M9Q+91.!VO]DJHK)53W?QD2JQ=-/<[J(1`F.G#S!G?S3*H<PNM:5`03
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M55S6JY*KI5Z>!&I\-LB:)IHW3W4T*O\`\-C8ON9<Q6BC;.U2O0.92H92LVU'
MFO;(]YD:?<C:>IVM3PU7N.;`WBWVJ22-,252:.,HODH9VXC\=TY7!>T[8]]\
M=FDLT7BMJ)4631>M:]T+(M$5'(BL3@U1%3H159KW''77=]3QNKD>JF\:J2?!
MC1[4@>SK7R:N;IJDFC^ZFJ*Y$=]PEER7\K!^6.K7OT;Q4UK_`++LL'.7:3HT
MULV6K<MFIU2+IE:=)M]GSDU*1\FE"QW>W!6O>&^4RHI]D^4<*FJ7:V`7"5Y%
MG:Q+DKDXE:Z16JC41K5T>]VB\+43HT1$1.[W5D>X<TF8FCZOC\5B8Y&(]L:*
MG$Y7.3\6C45-5U375==??T)H"JBG```````-AO-Q_`;_`$"*=T&+7HI_^(2Z
MRW]V%`]D%,&$._O^J[7\K/P&F7O+S_HVC_=K^$X[E@HXK0``````````````
M````````````````````````````````````````````````````````````
M``````````````````````````Z(7(?^VYZ]O]]T![/;T+]<B_\`C;W]6+_5
M*6.YU?\`#X_^\E_U,,[PR4+`+W5`$```````-IL^9_E[O[O-R&FI]-TZ4^X0
M#J^^["7FKY^=62^RJHE[FE*Y>9/1-`MT["Q:;2?MVB;';)XL7&86;V*<;3UJ
M9MUG1$"N%./`B>,=K!<V[ASMF/.9>J^9%='U74M5$715:[W$35?NZZ]'<Z2J
MY\5$[#8NXR)VDTDZ3/:BKJULS6IJOWJ:-U1.XGOF.BQ=1;F;?<CM%=8LG+U%
M;_V-R);HYJ+#N,EPFJK!PD307\'5FU>UQ"-F)DGG,664LA7CB,-E**B6S<IS
M)J=]Q@M(6=[YN7;K(NL@;DGU9)72Z\+-&M8G`Q.%=7_C$5=53A<BM7551"JX
MMIX=NXI$X+3L9%D8J[8N%'.57HYRN>NO]AHW1'=+G*O0J:&<W5ELC+71:FLU
MLL=8YUA3Z(C<_.TJQD9:*M,C28&;?-+,@S654BY]V22*Z507PFKDJY3]GLF+
MD7>PUM+5!BN?QS-1$=TIJB]"]*)W.A47^14]Q2VU^O)!:D1S%9$KW*WH5$5J
M.5$X=>ZFJ::IT:IH7&[/<QCN=SA_!W/X<Y\T3;W=3HKW3<($```````-AO-Q
M_`;_`$"*=T&+7HI_^(2ZRW]V%`]D%,&$._O^J[7\K/P&F7O+S_HVC_=K^$X[
ME@HXK0``````````````````````````````````````````````````````
M``````````````````````````````````````````````Z(_(6@NMUN.O?W
MA%17)-W5_)L$+DW#C?+WPX\/,XYP+\<C7L9=O*]4:G#%TK_),6/YU:>+8_7N
M]9+_`*F&>/#%]PQ_ZFO_`/%Y_P"7AD9(>,P>Z]O\Y8!=-1YP??6;C^1D/&:_
M]-O\Y#H^Z/.#[ZS<?R,AXS7_`*;?YQT?='G!]]9N/Y&0\9K_`--O\XZ/NCS@
M^^LW'\C(>,U_Z;?YQT?='G!]]9N/Y&0\9K_TV_SCH^Z:9CWV?_D;C^0'C%?^
MFW^<BBHG_P"!CIZB.DM9.],R^W7VI**YVO#['Y=R1.T7-0AU-@Q96VZZ!',R
M,+?EIF::$;L3Y;)X*MC!4393[A<\!0F\Z.,DJID(V1K?26-4>B-XDT>WI1?O
MO=]_W2K=J9"ZV\E%LTJ470SZQ\2\"_BG*NK==%]_^4EW8^5O0$HBXK<GRZ:?
MD:ZPN=FM["`>ZRJCF&86NPNCXL-B8QRT89LTEIWL%P\53*7SS@I>^8-V<<)W
M!B-OS48HY8H',T1_2UJ_">B*Y>E.ZY>E5[J^^2./,Y6-_7-LV$F5C6JJ/=JK
M6_>IKKKHGN>][A6M?UU6ZDYL3RJ4B$K+RWRZ=@MCN!A&46XLT\C&,H5*9GE6
MB*1I242AXQLU*LKVCE;H)DQGLEP)M6CQM1SWUDC8Z1W$[31-5T1NJZ::KHU$
MZ?>.K-:GL(QL[WO2-O"WB55X6ZJNB:KT)JJKI[ZJO=*G\X/OK-?^1D=KQFO_
M`$V_SG7^"/.#[ZS<?R,AXS7_`*;?YQT?='G!]]9N/Y&0\9K_`--O\XZ/NCS@
M^^LW'\C(>,U_Z;?YQT?='G!]]9N/Y&0\9K_TV_SCH^Z/.#[ZS<?R,AXS7_IM
M_G'1]TV'8/N''SHOW...'>S?1QQ[N?X,"*6(-4^&W^=!\'WS%=T5TU$?G"G6
M735+DBA=7T#M$-C)38S]T%+^AG''Z(PFWZJ.W5:<W[U59I\1IEYR\_Z-H_W2
M_A..Y2*/*T``````````````````````````````````````````````````
M``````````````````````````````````````````````````.K!S*?-8=&
M\Q/-'S!\U*'.YS::BMG,5L2<V);:_K%W3H.%9NYEZH^+$MW"46G(OXZ-55-W
MCSTHH<N,YSG/:SG.>Q!;M5=5JRR1J[37A<K==.YKHJ:Z>X<$U:M9T2Q&R1$[
MG$U':?R:HNA:+R1/5/C-NH!Z[ZY]I#L^F,OY59\(_P"4=?T7C/)H/!L[P\D4
MU3XS;J`>N^N?:0>F,MY59\*_Y0]%XSR:#P;.\/)%-4^,VZ@'KOKGVD'IC+>5
M6?"O^4/1>,\F@\&SO#R135/C-NH!Z[ZY]I!Z8RWE5GPK_E#T7C/)H/!L[P\D
M4U3XS;J`>N^N?:0>F,MY59\*_P"4/1>,\F@\&SO#R135/C-NH!Z[ZY]I!Z8R
MWE5GPK_E#T7C/)H/!L[P\D4U3XS;J`>N^N?:0>F,MY59\*_Y0]%XSR:#P;.\
M1*YWOFP&M>7OE[F=F,>H7SO71RRO6H:\6`M=I@',(LG==JT^GK/5D$6J9S/(
ME.;RZ:F[7`CE$F<XSC'`?#\IDY6\,EB=S?>61ZIT=SNJ?3<=CV+Q,@A1WW&-
M3N]"^Y[J$N%/FBNJ3G.;'4VZ@?`QS&QWRY5M0_#.<Y^K/YP+VS]WNYX8XY^@
M/OTQE_*K/A7_`"CY]%XSR:#P;.\;/)%-4^,VZ@'KOKGVD'IC+>56?"O^4/1>
M,\F@\&SO#R135/C-NH!Z[ZY]I!Z8RWE5GPK_`)0]%XSR:#P;.\/)%-4^,VZ@
M'KOKGVD'IC+>56?"O^4/1>,\F@\&SO#R135/C-NH!Z[ZY]I!Z8RWE5GPK_E#
MT7C/)H/!L[P\D4U3XS;J`>N^N?:0>F,MY59\*_Y0]%XSR:#P;.\/)%-4^,VZ
M@'KOKGVD'IC+>56?"O\`E#T7C/)H/!L[P\D4U3XS;J`>N^N?:0>F,MY59\*_
MY0]%XSR:#P;.\/)$]4^,VZ@'KOK?VD'IC+>56?"/^4/1>,\F@\&SO&27I3]"
M;4G2IW-N3>%)YC=Y[WMNZZ+&46S*;B^YATJDVBY]K/HRI)2)CFTJ\D,G:%1S
ME=4Y,)9\SCC'#I2RRSO66=SGRKW5<JJJ_P`JKTG<CBCA8D<+6LC3N(B(B)_(
MB=!G7'&?8```````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M``8V>K,7)N2RSXP7)O\`\7.6GCC&,Y[GQB-8X^A_"`,DP```````````````
M````````````````````````````````````````````````````````````
M``````BXSHC#8VT=U'L5AOI4ZW9ZC#0C&%OEGK\7'1SC6=.FED&T;$2+-H0R
M\K)N%U%.SDYSJ]W/#&,8`J[XO=+]4&T??5O?AP`/B]TOU0;1]]6]^'``^+W2
M_5!M'WU;WX<`#XO=+]4&T??5O?AP`/B]TOU0;1]]6]^'``^+W2_5!M'WU;WX
M<`#XO=+]4&T??5O?AP`/B]TOU0;1]]6]^'``^+W2_5!M'WU;WX<`#XO=+]4&
MT??5O?AP`/B]TOU0;1]]6]^'``^+W2_5!M'WU;WX<`#XO=+]4&T??5O?AP`/
MB]TOU0;1]]6]^'``^+W2_5!M'WU;WX<`%';$T=6(77]YF8VS;4;2$33K-)L'
M*>UKWA1N]80KYTU7)G,T;&#I+I%-C/#/=P`/KI6BJK*TVI2;ZR[3</9&L0#Y
MXN?:MZ[:[IW%-%W"ZG9FBERHJLIDQN&,8SG/F`"IOB]TOU0;1]]6]^'``^+W
M2_5!M'WU;WX<`#XO=+]4&T??5O?AP`/B]TOU0;1]]6]^'``^+W2_5!M'WU;W
MX<`#XO=+]4&T??5O?AP`/B]TOU0;1]]6]^'``^+W2_5!M'WU;WX<`#XO=+]4
M&T??5O?AP`/B]TOU0;1]]6]^'``^+W2_5!M'WU;WX<`#XO=+]4&T??5O?AP`
M02ZD7+`C8>5&QQ5']T^S3Y]E:%=IQ1ME6Y[@T?'[OH#V8=Y0D9OSMG$?$(+K
M\<_5%[WVB_58P`)X*<OU-5445/8-H=M50ZANSM.]$+VE#9.;LD+-X*4O'/<Q
MC&,8`&SXO=+]4&T??5O?AP`/B]TOU0;1]]6]^'``^+W2_5!M'WU;WX<`#XO=
M+]4&T??5O?AP`/B]TOU0;1]]6]^'``^+W2_5!M'WU;WX<`#XO=+]4&T??5O?
MAP`/B]TOU0;1]]6]^'``^+W2_5!M'WU;WX<`#XO=+]4&T??5O?AP`/B]TOU0
M;1]]6]^'``^+W2_5!M'WU;WX<`#XO=+]4&T??5O?AP`/B]TOU0;1]]6]^'``
M^+W2_5!M'WU;WX<`#XO=+]4&T??5O?AP`0(ZFE&/J'DRV;?-<["W%4[?%6+4
M#2-GXK;-X1?,T)W<E"@)9-%1285+@CZ(DW#=3'#ND5R`)\GY?:6<YSYGMGER
M<QC9*3:=Z(0N39SG@0A9O!2EQQ[F,=S&`!M^+W2_5!M'WU;WX<`#XO=+]4&T
M??5O?AP`/B]TOU0;1]]6]^'``^+W2_5!M'WU;WX<`#XO=+]4&T??5O?AP`/B
M]TOU0;1]]6]^'``^+W2_5!M'WU;WX<`#XO=+]4&T??5O?AP`/B]TOU0;1]]6
M]^'``^+W2_5!M'WU;WX<`#XO=+]4&T??5O?AP`/B]TOU0;1]]6]^'``^+W2_
M5!M'WU;WX<`#'+W2\9QGT?VAG][.U+WG'T?-QF;^@`(Y]+"X6V^]/SEBMM[M
M$_=+9+T9^>9M-HDW$S8)A5I;;''MW,K*NC'<OW1&31-/*JF<F-@F,YSQ`&0$
M````````````````````````%E-;_A,YAOO[IGY(-?@"]8``````````````
M``````````+?[9_!7LO^[^Y>QR2`'W:Z_!]1/O-K'_<C$`5D````````````
M```````"P_,G^"27_MZD>S6``%^`````````````````````````:<<?3QYN
M<>;]'''CC^''``:@#&=U??S!-N??7HK\O6M`!DQ`````````````````````
M#CCZ8``#&YTA/V;G*C]XDO[.;6`,D8````````````````````````+*:W_"
M9S#??W3/R0:_`%ZP``````````````8?^:#GGYB-$[&YP:HE3-5MX76.D>5R
MV:!?&?V&P2,E9>8O>6Q](.+3ME/O-?9QT)79:J(/$8B.45.=J0V57W;<8(V`
MB)9NH?SGU>?YE]2XNFHG]MY`:OL_;NU=B/M8N4(_F3IM3LE#)4*.QK+*V$0U
MN_5JUEDD[#(QRSHZ,J@PRV222.NDH!.'E9YN]R["YBK#I'>$A1:-)Q[1O;XJ
ML'Q"&LMC/=J:SLT)KRK9A)F8:KP]&BFLA)JR+\S6;D&YT$SLT\H/<D`RLX\P
M`:@``+?[9_!7LO\`N_N7L<D@!]VNOP?43[S:Q_W(Q`%9`````````````.%L
M=DKU/@9>TVR=B*S6:_'NI:=L,_(M(B%AHMDD99W(2DH_609,&39(N3'55.4A
M2XXYR`.'=[%H,>^KL8_NE68R5MAI:QUB/>3L:V?3]>@6362G)V):+N2.'T/#
M,'R"KIRF4R+<BR>5#%[9>('XT[9>O=A-F+VBW:L6]K)0Z=@8+UV:82R;J#5D
M7T.E+)&9+K=I@I*QCEL57^+E=NJ3&>TF;&`*X`%A^9/\$DO_`&]2/9K``"_`
M`````````````````````Z^'.`CMRH[`ZDN<;`WU8=:RL1TUYVVI-Y.?<-=?
MZ(L>Z-S1G,O!:C;UQDS-7()IJF.,K-'C,'D^]'4<KK&.8AL`8ZY5Y+Y/M:*A
M9?<.*?G-U>=%PM=FMF%8R=T=\WM@8R"VMGR"RB4ZJQADJ[F$++&<-$:`JHH@
M7,:HZ,`,L?):_F-<\X%LUK//-@["K=E)/N-0VV1<.X:#(S6BY`NRMJ'ISA[-
M&G&%ZMVI<L7%BR\;MTY!9IEHP1).+][`S?X\P`8S^K[^8)MS[Z]%?EZUH`,F
M(`````````````````##!L7G>YH8^\\P>F"Q&J->W%#G6Y7N5'2]LCD9O8#"
MG4WF#UK5K^\V3>&DL6J,[+>XZ/E7F6L2B5"+2>Y;-SK.R%556`B[!=3'G&G8
M'9MJ9N-0+*\FVQ=1:0W!5CTF5;MN9N[;6WW?]*GME6FL69=YJJ#CXRM1;V-1
M;I217$TY?HK',V113P!D5Y*N:'9NV]C[3U/N6Q4]A=-2/['7,UA%M`,KG<9!
MC,1KN:LJ[2KSUCK$;`4)K,,X9%)F]<N'IUS.W14.*)3`9+,=S'[O_,`,;G2$
M_9N<J/WB2_LYM8`R1@````````````````````````LIK?\`"9S#??W3/R0:
M_`&(CG:Y@.9C2NR^?QG&;U?MZE!\KG)K>=?MHFK0L0AR\5[;G,=NW4FU[VP>
M=F2?V"QLJ?4,2BDM(GRBS4;DRD@BBAG&0(%77FBW+7)[F@H49S=[?1UURO5;
M?M^Y-KV;8^9:Q<Q>P:AMC5%=)0K7<7A7*O,#$:MG+"M5TXAT=]F1+.=ISA==
MNW52`R4\I.\=H,.;.<TYO';%JN!5G'"HH0RSR1ITMM.QU&QOKRVEW\NZ:2,9
M!U=?4]@91\'%MWT#"3:;]%5V57##OH&:X`````````%@-D<KNB-O/-FO]D:\
MB;8YW%JRN:6V*:26?]FPZXJ-@MMJK,`HF@[1(R/!6.\2;ULZ;X2=I.5\'*IC
M*:>2`6#7Z8O):\@]?04AJ4\FCKR3M$JA(25QNCZ=NRMYLL+=+LQVU.+SQI/;
M,-;KA6HV3?LK`H_:KNX]#.4\%)V,@7UB>5C1\)L>(VU'4[O-\AW4])IS69>8
M5Q(SEA?7"0=V*;8J/C,)JP,E-A3R;)XX2468MY=TBAE-,^"E`D+@`:@``+?[
M9_!7LO\`N_N7L<D@!]VNOP?43[S:Q_W(Q`%9`````````````,6G5HTMLO>>
MA]55BFM]ERVOZ_S)ZGOF_P"KZ;A*S:=F6G4E,6EYDL;6Z;;T'<!=46&PT("0
MD(A9NZR^CF:Q"H+Y_P"C,!C/I.C^HA+<S-0VSOZG;-M-SW#J/EVU#L*-95#5
M3S2$)RF,JK;S\T%,M4U&N,V+5>_)>R2:DJWCJJY092TVO&I)=_9MEBLP,B_3
MSU/NC2&R-RU*XZP=P%*MYE]@H72PJNIRRH+R*M<7HE%4OR\XLWMV8V(F)M.2
M9-8M@C#2L<HN91P:7[YD#+(`+#\RGX)9?]^?I&/_`+Z0(`OP````````````
M`````````-.'[OI>9]``.''S?H>9^]YN../I9SC(`T[!>.,\,<2ER4N>&.)2
MY[/'!<^;@INSCCC'TL`#<`,9W5]_,$VY]]>BOR]:T`&3$```````````````
M``!&+8W)SR[[69;<:W2@IO'&[K1KV]7V9CYN>A;"M>]3PT!!:TNU?GHB292E
M3M5(8U=AZ'O8U1JLDHV*?CG.3=H"WD;TY>3R%L&IK-#:C:Q4GIB(K,-3RL;%
M:48UXG1YZ=MM$D[K$>C.8S8%AH]RM,G,Q,C,I/7K*6D%W1%,*GR;`%WM?\K>
MC]775+8%&IA(.RH5LU81<$E9ATR3;N&\(RDYC$8\?+L<VJ>CZQ&-I"5R3+]Z
MWCVZ:JIBD[H$@@!C<Z0G[-SE1^\27]G-K`&2,```````````````````````
M`%E-<<<;,YA<\,\,WNF<.YYO#4&O^/\`F`%S)"J5>64EUI6MP$FM8(-.L3RL
MA#QSQ6;K:)Y%1*ORYW#90TE!I*2[LQ6BV3MRY=+9P3_I#]H"C$=':5;QE%A6
M^H-7(0VKI#$MK.)1U_4THS74KA3ON).BL"1)6M1D,*YR;OT>1NIVL\>UQ`%3
M-Z'2&<M&3[2GU=K/0K.3CX>:;P$4C+13&:=&?3#2/D4VI7C-M+/3F6<D3.4J
MZIC'/Q,;.<@59P````````6TW+MVA:"U1L7=NTIA2OZXU33YZ^7B<1CI&75B
M:Q6H]>4F'Z<7$-7LI(';,FYCX1;I**J9QP*7.>&`!@FQ\ZHZ(N<%S\:FS8[6
M,9X9Y?=^XSCCCCP-C.N.)<_3^D`-WE4W1%^559/U?]^_!R`'E4W1%^559/U?
M]^_!R`'E4W1%^559/U?]^_!R`'E4W1%^559/U?\`?OP<@!Y5-T1?E563]7_?
MOP<@"D=@?.D>BE/4.[0<;S2V1:1F:C9(I@CG0.^4^_/9&&>LVJ7?%M>)(I]\
M76+CB<Q2XX\<YQCN@#ZZ=\Z5Z)\/4*I$ON:>QIO8RM0,>\3+H'?1\).V<4T;
MN4NV371DS][63,7B7.2YX<<9SCAD`5'Y5-T1?E563]7_`'[\'(`>53=$7Y55
MD_5_W[\'(`>53=$7Y55D_5_W[\'(`>53=$7Y55D_5_W[\'(`T-\ZHZ(I<9S\
M:FRYX8SG@7E]WZ;.>&,Y[F,:XSG.>X`,ZNEMPT#F#U)KC>.J9E6PZUVQ3H&^
MT:=6C9*'6EJO96",G#OU(J8:LI2/.Y9KE-E%PBDLGG/`Q<9QP`%S@!@;VK\Y
M9Z/&E=F7_4&Q>96PPE^UC;YZBW*(2T9N^31C;+69%>*F62,G&4!W&R";5\V.
M3"S=51$_#B4V<=T%Z`4#Y5-T1?E563N__M_W[\'(`T\JFZ(ORJK)C_\`C]OS
M_)_^7/T`!KY5-T1?E563]7_?GP<`!Y5-T1?E563]7_?OP<@"D+S\YTZ&=^KC
MFLRW-C<6S)T\B7JBT?H+?"3K"D/*LY9L4IUM9K$P0[AD4I_J>.29SC&<9[H`
MJ_RJ;HB_*JLGZOV_?@Y`#RJ;HB_*JLGZO^_?@Y`#RJ;HB_*JLGZO^_?@Y`#R
MJ;HB_*JLGZO^_?@Y`#RJ;HB_*JLGZO\`OWX.0`\JFZ(ORJK)^K_OWX.0`\JF
MZ(ORJK)^K_OWX.0!E2Y'.H'RK=1K5MAW+RC[!?;&U[5KP_UU-S+^G6^DK-;;
M&PT'8'<<6+ND)!2:Z:<58VBF%R)&1-WWLX-DQ38P'W2:```".W-;S5:1Y*=%
M77F2YB[4ZI>H->XAC6JR,Z_/VERP^Z"=CJW%82@JQ'2TV^RXEY5!+.$6Y\DP
M?M&X%QG.`,,WE4_1%^559/U?M^_!P`'E4W1%^559/U?]^_!R`'E4W1%^559/
MU?\`?OP<@!Y5-T1?E563]7_?OP<@!Y5-T1?E563]7_?OP<@!Y5-T1?E563]7
M_?OP<@"$/45^<@=(;F`Y1]BZLU=S)3\]=YZ?U2_BHI;2.ZHA-RWK&VJ1:9DY
MI"8HC"/1\ZPL,X5Q@ZN#'R3!28,8V,9`G`?YU+T1"G,4O-;8E"E,8N%"<OV_
M\$/C&<XP<N%-;$4P4V.[CM%QGAYN,9`&WRJ;HB_*JLGZO^_?@Y`#RJ;HB_*J
MLGZO^_?@Y`#RJ;HB_*JLGZO^_?@Y`#RJ;HB_*JLGZO\`OWX.0!^J'SJ#HE.7
M#=JAS3V4Z[I=%LB3'+_OS':5<*E13QDV=<X*7&3GQQSG.,8QW<]P`=@R(E64
M[$Q<W&*Y7C9B.92L>OE-1+*S&0;).VBN4E2D52RH@L7/9-C!B\>&<8R`.1``
M`12WMSU<F7*]:(ND\QW-+H71MPFX)*T0]8VGM&HTB=DZXN_?1:$ZQC)^48NW
M,4K)1CA`JY2Y3RJ@<O'B7.,$Z?Y062_Q?NE?XP_DY_6#UI[80`_Q?NE?XP_D
MY_6"UI[80`_Q?NE?XP_DY_6"UI[80`_Q?NE?XP_DY_6"UI[80`_Q?NE?G_\`
MT/Y.?U@]:>V$`0&Z7?5&Z;VMN07EIH]^YZN5.G7"O4N4:SM:LF\=?P\W$.5;
MA97:;>1C'\X@[:+&;."'P4Y"YR4^,^9G``GS_B_=*_QA_)S^L%K3VP@!_B_=
M*_QA_)S^L%K3VP@!_B_=*_QA_)S^L%K3VP@!_B_=*_QA_)S^L%K3VP@!_B_=
M*_QA_)S^L%K3VP@!_B_=*_QA_)S^L%K3VP@"\.D.?KDDYEKBKKSEZYL.7[==
M[0AWEA6J&L=JTZYV-*"CUFS=],*1$#*O7I8YHN]1(HMDG8(90N,YQG.`!+D`
M`!"_J-7ZYZLY".<79.N;'(U"^T7EQVY:J=:8@R1)2O6.$I<L_B)B/.NDLB5V
MP>H$43R8ABX,7''&0'<[IYT^@^:WK?[WU#3-LQO5GVS765P9O'*$+(,R/WC$
MK*2>1N2+NV\<1)<RAFF3\<%\S.,9[HS4Y7^QCG^9VQZ.]J>;JU:]YCG)$^N]
M[F<+W,T5R2-1=>'7H1.Z8'\U_;IV_P`JN862Y?W-O7KEC'2,8Z9EF%C'\<;)
M$5&N8JIHCM.E?<4N][J77-\<#LWTH4^T!7_V>>Z?6.CYK)VQ;S[2O:OJKDO.
MZ_9CW4NN;XX'9OI0I]H!]GGNGUCH^:R=L/M*]J^JN2\[K]F/=2ZYOC@=F^E!
M_M$/L\]T^L='S63M2'VE>U?57)>=P=F/=2ZYOC@=F^E"GVB'V>>Z?6.CYK)V
MI'[2O:OJKDO.X.S*=A]H];HLW<<,NKGLMH]]%HD\TZQ%*9Q*/E*O"8;.S)99
M9*F="*(W;YSC&,FPAC.?IB7U?8"W+:LV:K-Q44?6D:Q?]VEZ5=&R37^UZ.A^
MG=7N:]&NAWK7^8[M>M4JVUVMD5;:C>Y$\;@^#P2OB5%7J^G56:_Z="H_=2ZY
MOC@=F^E!_M#@)A]GGNGUCH^:R=J='[2O:OJKDO.Z_9CW4NN;W?\`^X'9O[W^
MZ#]W_P"8A]GGNGUCH^:R=J0^TLVKZJ9+SN#LS3W4NN;XX'9OI0I]H!]GGNGU
MCH^:R=L1^TKVKZJY+SNOV8]U+KF^.!V;Z4*?:`?9Y[I]8Z/FLG;#[2O:OJKD
MO.Z_9CW4NN;XX'9OI0I]H!]GGNGUCH^:R=L/M*]J^JN2\[K]F/=2ZYOC@=F^
ME"GV@'V>>Z?6.CYK)VP^TKVKZJY+SNOV9:/?/-7UP-%ZCNFV)'JT;8L+*G,&
MSUQ#,&96+Q\5U(-([":#MQ''20,0SO!N)L9[F,XQW10/,[V+\_RSV1>WM<SE
M6U!1C1ZQ,KO:YZ*YK=$<LCD3I=KTHO<+@\JO;KV]S3Y@XW8%/;UZG9R4KF-F
M?9A>QG#&^35S6L15U1BIHB^[J>AWTPMBWK;O3MY*=H[.M$I=MAW_`):]26RZ
M6Z:.BI+V2R3=0C'TM,R1T$D$3O'[M8RBF2D*7)C=S&!A49Y%*]7;]EWS_?HF
M;O\`8),`#SQ.0C4VJ;!RB:9F)_5^O)V8?1,V=[+3%/@I*2=G)9I=(AW3UVR5
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M^'<S@_\`NWZG_*'[,^6_0GH+#ZKW/]TK=/\`^V?7[5>9FJ)])<[\+N?^H6=5
M_D_&]/\`H-#:)TJ3AV]+ZM)VL=HO:U_6RX,7Z>,YC>&<"*<LN6[NY@\.O3Y)
M7[,@WFKS,=][N7.JJ=W_`-0L]J;/<-TC^)K57K!K/@X??[+^7'ZBQ'F=?LR/
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MYD@`'E@Z^H=$N?/[U7E+C2:E;5(_G"N9&"EFK\7-G8D<779!G!&AI%LXRW(N
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M571$3I551$*5I=*Y6MC1KJ9H%'T5=(EB_4BWLE6ZG495FUD4B)*'9+.&S`Z9
M%\)+D/PSGNE.7...,XR)#MW;G)3=M1]_;./V]>I1R+&Y\%>I(U'HB*K55K%3
M5$<BZ:ZZ*B]Q2?;EW-SVV9=CQN[<INK&Y"6))61V;=N)[HU541Z-=(BJW5%3
M7W%147I0K'.B-+8+D^=+:OP0N<X,?.OJW@I<XSPX9SF-QC&<9\WCD3_]F?+=
M5X4P>'U^:5NS*<3FKS+5>'Z39WB7W/2%GM37W!M+\2XSI35^,G+VB8]SZMYR
M?'<XY)CT,^J+CCYH?LSY;:*J8/#]'_\`DK='\OXL?M6YE^LV=T3N_P"_V>C^
M7\:4/*U/E1@K;$4&9J&@XN[SY2'A*B^K-.0L,F18RA$#-8HS+SV;#DZ1\)\2
MX[YDN>SQX9%-7<+R,QN=@VS>I[<BW!:1%BKN@J),]%5416QJSB5%5%T5$Z=%
MT[BE44,_S]RNWK.[,9D=VS[7IJJ36V6;CJ\>B(KD=*C^!.%%17:*O"BIKIJ5
MQ[@^E^)2^XIK#B;':+CW/:WQ,7Z>"^AO$V/W\=P5+^S/EMIKZ#P^B=W_`'2M
MV92_[5N96BJFYLYHG_U"SVIH?1&E$\8R?2^KB=K^+V]>ULO'AYOFQN,=P&\L
MN6[ET3!8=?Y*E;LPWFKS,=][N7.KI[V0L]J?G[AND?Q-:J]8-9\'#D_9?RX_
M46(\SK]F1_:GS/\`63/>?V>T'N&Z1_$UJKU@UGP<'[+^7'ZBQ'F=?LQ^U/F?
MZR9[S^SVANQHW2/U7'36J\_]&M_]@:SC_P"!4_\`JX<4_+'ERV%RI@L1T)Y'
M7[,+S2YGJJ:;DSW=3_\`OV??3_S#-;\S@332Z?',VBBF1))+GKV>FDDF7!$T
MDR:TU$4B:9"XP4A"%QPQC'<Q@>>W/,9'G+K(T1L:6YD1$Z$1$D<B(B>XB)W$
M/2I@'ODP-*215=(ZI"JJJZJJK&U5557NJJ]U3MR"5$W``P"_.?/V)O.'_-ZA
M_+5K_P#YP!U%]':8TV_TGJ!\^U'K-Z^>ZSI3EX]=T>NN'3MTO`LE5W+E=5@9
M1==90V3&.;.3&SGCG(WX<L.7&P+G+O"6K6%Q4EA^+K.<YU2!7.<L+%5558U5
M5555555755/.=S2YE<R*?,W<52IN'-Q58\W<:QC+MAK6M;.]&M:U)$1K6HFB
M(G0B=PN?[AND?Q-:J]8-9\'"O/V7\N/U%B/,Z_9E"_M3YG^LF>\_L]H/<-TC
M^)K57K!K/@X/V7\N/U%B/,Z_9C]J?,_UDSWG]GM#7W#=(_B:U5ZP:SX.SD07
MEARY3_V+$>9U^S(IS2YGK_\`<F>\_L]H4T^H'+%&9LQ9&AZ+89I;%E)W##VK
M4UMFK1LDW5=QTA/859ES&,WS9`YT5%>R50I,Y+G/#(D-G:_)>FMU+>/V]&N.
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M\/K[WBE;L_\`O/K]JO,S7A^DN=XM.YZ0LZ_S=8:'T3I1,W84TOJTAN''LGU_
M6BFX?0SP-&XSG'\`BWEERV>FK<%B%3YI67_5&&\U.9KF\3-RYU6_<OV>U-GN
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MIJFJGJLZJ_!?K?[PJ?['HX:CS=`5Z```\^KYS#K:C[8ZX?)91MAP#>RU2:Y*
ME#2D0X6<MDW>8Z^\P$@R[:[)5NYQAN\;D4QC!\=W'TLY%^_9FVEM_?'.3%[9
MW36;;PD\=KCB<KD15CJS2,75JHOP7M:O=Z=-.X8X^UCO/<_+_D5F-U[/MNI;
M@K.JI',UK7*U)+4,;]&O1S?A,<YO2GN^^0%_P\^33\1\-]#_`.F[-X7&U_ZI
MW(7]05_CS=J:>U]K_P!I#1%^E%GP%;LA_AZ<F>,9,;2,(0I2F,<YYVR$(0A<
M9,8YSFE\%(4I<<<YSPQC'FCXD]E'D%&Q9'X&LC$35562;1$\*$]L#VD55$3<
M]E7*NB(D%9555[B(G5:JJ^XB=)^*/3]Y*W"!73;3-<<M3ER<CIM9)Y=J<A>/
M$Y7*4T=`Q,9+GCG!NSCAYHX8?9:]GNQ`EJ#"5'UU_P#$V256]'=Z4ETZ#ED]
MKGVEX95@FW)<981=%8ZM`UR+[RM6%'?Z--3<CT^N2QRD5=KI>O.D#9,4J[6Q
MS[E`QT\Y*H4JR$TJEDQ#=S../'&?-"O[+/L^6X^MJX.I)%KIJV294_G242^U
MU[2T$BQ3[EMQRIW6OK0-=HO<71T*+TIT]P8Z??)7YX,S]QFMY>$3(L=EBR3^
M7A$3_P`18[3T:RY(D?/F&R7&,_3'RGLM^STZRM-N$IK:1NJLZV7B1/?TZW73
M[I'ZW/M+]2ECZ27$K*Y41_BT'`JI[B/ZCA54]U$77[A^F>GIR9XQDV=(0N"X
M[N<FG+*7&,=W.39,:7P4N,?3R.ROLH<A&IJN`K:(FO\`:3=J<7UO_:15=/I/
M9U_N*W^KJ>D?X>?)I^(^%^GC_?EESQQ]#/<E^[C()[*'(14U3`5E;_7F[4?6
M_P#:0]9[/@*W9&TG3XY+U,9,EI6`5*4QB&.C8+$J4JB>>RHF8Q)@Q<*)GQV3
M%SP,4W<S@?$7LJ<@)DXH<%5<U'*G1),O2G0J=$O=1=44^W>UY[2D:\,FY;;7
M:(NBUZZ*J+THJ(L/<5.E%Z45.E-353I[<F"64RJZ3@DC*F*FD16?L21U5#ER
M<B:15)@F55#EQQP4N,FSC&<\.&!!_LK>S_&K4DP55%<[1NLDW2OO)^-[O0O1
M]P^6>U[[2<B*L>YK3D:BJJI7KJB(BZ:KI"NB)[JKT=SWS=_AY\FGFXTA"Y^A
M_P!MV;]_N?\`:V.'=')]5#D)KIZ`K_'F[4A];_VD-=/I/9\!6[(?X>?)I^)"
M%_?_`-]V7POD13V3^0J_^P5_CS=J%]L#VD$_^Y['@*W8FG^'GR:?B/AO3NR^
M%P^J;R%7_P!@K_'F[4@GM@>TBJZ?2>QX"MV1+GYO3JZA:?\`G`&T*/K:NMZO
M58_DPL;MG$-UW3I-!S)JZK>/U2KOEG#C.7+E4Q\XR;.,9SW.X-5WM2;.VYL+
MG#=VUM6LRIAHJU9S8VJY41SX6N<NKE<O2JJJ])MU]D#?&Z^8O(VANG>EQ][/
MS7+C'S.:QJJV.S(QB:,:UOP6HB=SW.D]%88[F3H`$`>JQ^S2Y\/T4=X>P";`
M'GU]/#\S72/]CSGLHFL?Z!O7]DQ$_8'@/[B3\_*>>[VP?XD-S_.(/T:$FEQS
M],9'Z(8TCCGZ8:("Q_,#.;8KU`)*:@C7#^;2L4,6S.8NN-+I98*A]M8]FGZG
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MG9FTI7/L25&X1.*2!\Z:)8ZYJIU,[$X5:J.=JBE%YYU:K`0:EKL^K[!5UKI5
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MR9L:BL[V2J+&WN]D1*5NJJ"E.7HNPV&M+`Q9/5\X:6Q3,[*ME6QV^42JM5,F
M/WLY#$#(>T:E&NY[<%9DMU(K3[T:6($\66I=91F:QRKPS_CI&+&K5:CV+JO`
MY.$[.+]FB7)V(&_2&E%2R,M1F.E6I:<EQM['OR5=[V-^'53J(I&RI(CE9(U$
M;QM<CB2&K-CGV3$6)R\KCRHSM/NUCH%GK[N38396,]6U4"N3,IF,*1G*,'"#
MI-1-4I$\_59+DO$O'-X=@[S^FN.M6)Z;Z.1I7IJD\+GMD1LL*HBJV1G0]CFN
M:Y%T:O2J*B*A9??FS&[+R%.&O<CR&*R.,KWZUAD;X5?!81W#QPR:OB>US7-<
MU5=W$<BZ*7.XY^F*[T0H<<<_3#1`0TZA&<_$WWE_8$3[)8<8Z>U>B?L$W!\V
M9^>C,D_9"_B.VO\`.YOT:4[]G1\_98]/K]$K2/L%B!HD/0H?5U=OV7?/_P#H
MF;O]@DP`.@'T\?S,]'_V//>RF:&]?V2_W"8'^XD_/R'GO]L'^)'='SB#]%@)
MH#)`QI``"`(D\U.GKULEM29?5KI&,MZ#J=UI:9$ZJ:!\:9VPQ2@MB&*H=5')
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MH07<<N[H,I;M0XR&*C,RY&L5*S&^RDTN0C\9C6SUC%K/ZQK+2NC9U?`CT5'4
MUO'=W*.W2R,>Q[.&H4K.7GGR$#Z$JSY*G+'46*#%RK6D2IU;VVX^JXZG5RO2
M9'JSA5*WY1]=;JIJMBDMNS5W]$'M?A(N<A;(I$R,#.7IN^?NIJ_5N7:7FW/%
M\2""F&ZF3-H=!5`R/9:E.D;&*HY"[1YA8&>U=WQ8R"6GUHHYH9UBDAFMM<]T
MMR&1MRR]>-%1COQ=5CF)'I"CFN1*6]H3>7+/<<=.CR]K8OQ.*W-+!-726.>"
MDZ.-D-"S"^C48WJW)UC=)+<C'I)K.K9$UFN,ES&0```(:]0C\S7>7]A0_LEA
MQCI[5_[A-P?-F?GHC)#V0OXD-K?.IOT:8[]?1[_97]/G]$G2'L%B!HC/0L9(
M`!Y=FFOS^NK3^F';?9ILP;0O\N__`)5NGYS1_`LFIG_,N_YQM'YMD/PZA-(;
M)35^`!3UNB6,_4K5`R<,I8XV;K<W$2%>2=)L5IYG(1SAJXAT7JR[5%DM))*9
M2(J=1,J9C8-DV,8XB1[EQU;+[?NXNY76W5L598WPHY&+*U['-6-'*YJ-5Z*K
M4<KFHFNJN1.E)QMW(6L1N&AEJ-E*5VK<AECL*U7I`^.1KFS.8C7*]L:HCU8C
M7*Y$T1%5=#']4JGS)U-A4U&E&V"]HM)F[[`5&E/9[6;#;'W&6'3*]7JF;VY@
MK!'5"R,Z9>\)D8/%GBDFFP3374(8Q,#$;#;9YNX6A2FIT<J[`4KEJ*O6?8H,
MR"U9<9U$'C2Q6&59FU[B(R&1TRV$@1DKVJK>G+K<&X.2N?MWV6,IB(MU9.K1
ML6[C(,D_%>.5\PVU:2BV>O)<KON4>)9X61-K.G<^)CD1RE`:YJ._WM\Q"M2;
M$;;/UW*Z`:3MYF+T1SKJH1!-.0;S8M:L<&>?<8N,A8Y-QDV<-8]T19R<JV7!
M,IFQFG]LX+F=<W2W'0>E4W=BWX5LUJ2XCJ5>-,77==@FBZ__`'E\SW.UZJ&1
M'/>DBS-5BE6[QW#REK;47)SKAW[&S%?//@HPT59D;<RY>=F/LUIT@;XG'6C;
MI^-L1*R-%C2%R/14Y:EZ(YE'E;\X7.>VBB^EKCJ-IL:*S98^,9V!".OJDIL2
M^UBW1>Q)Z8RDO5\J-5R(MH;#EJJD1-IWU'.,3+;O+/FW:Q*U-PV,PVS/?QD=
M^/QB.-LR,N];>N5[++TTG37UC>C654DC6-K8%>Q427[EYJ\EJ^:\;VU5P3JM
M?'99V.E\6DD?`Z2BD6/HV:DN/@AU;:X96.?)<6.5LCG3]7(BK?\`K=)O^K]D
M[GC:YJQQ:&&T[+%S6O\`</HQ4WC?7T6QHT;5X>%N1;1*8N.4M?RD89RS*S1>
M9>IN39QV5,GXW%Q&U=V;/W3G*%+#.N^F+44M3*]965M2-E.&NR*RV:5+*MJ2
M1.?$D3)^M25=$:]7ZVES6Y]I;YV7MJYF<\RC;P-*6&_B.IM,=?EDNRV9IJ?B
ML7B:+?BEZN99GP]2Z-$5%8C2RE5TOS!/D(&'FF6SX*N/)31+/;[:<VJC(R=Q
MM$1<9EUNC8E6E8FRNWL/39BJ.$$#((G9K._J,)M"92SQM]AN7G-B>K'0N,RT
M&/DGQ#,@V7(,?)9L1V9792Y!)'8<Z.M)75C58BPOE^"C8&K&JNN9GN97**K+
M;R.-EP=K-109Q^(=#BUCBIUI:<+<-C[44M9C)KD-IKWH][9F1?"X[#DDZ+P<
MM&KMM:\LL>ZN:UO/%2VK9MI:\66[*VM`U\C=J27W'&;H.920,T<):O523[XW
MP5$Z."E5SE8O<N+R;V5O[:F?CGS[[SL9/B)6V$GM^,IXW'?>E;1JR/5KDI*C
M>)B(U6HU'JKT+<\[-]<O]WX2:#;;,<E^#.POJ^+4DJN\0DQ<?CB.<V*-'M7)
MHYW#)J]'\3HT2-Q-<9-&,@`&N/\`6_FUOZ%0<%C^P?\`U1[J?RI_K0RO?,X_
MV?G,_P#IW;2_)KJ,>;;<'_/[WSR;\XX]1NW?^GZ/S.'\VT[<0E!.0`,`OSGS
M]B;SA_S>H/RU:_`'5@T'^`K2_P#=91?8ZP'HEY3_`+M,#_A-7\Q&>9GFU^]7
M<O\`CU[](>78%PBWX`#^`05$7NA%T(=[TT+8]A;>UY-07>$]?7-M#4WF-:F.
MDFI+4?7EG:[)I92)F434=KOY=L[A5N!5,^<Y'LYQ@F,FQCCS2Y69K=.^\9D<
M.D?T>R#&5LTURHWK*U.;QZIT(J.<KY6S59%T<O5653H:FJ9'\K.:^&VAR[S&
M-RO&[=^,?-<V\Y-52*[D*SL=<55T5&-9$Z*XSI:G75^)%5RHBVQF:YS3(2<K
M&PM-L4PI`SO-/,LI>7NT,A2;A&;&054U1!,D6EH:V/&()!SE-!%=)BG'N$BI
ME5(4W?"T5D,+SIBN35,?1M3.J6-P2MDDMPI4M,O<3L?"UK++9](V/5J->R%(
M'M1$D:BHY*WQF9Y$2TJ]W)9*G7;:J[7A?%%2F==IR8]R)E9WN?5=6_'N:CGO
M8Z=T\;G/5CG)P+155T;S!2\$G6K7C:S6N0"7,2]J)']\8UZ>2=3E3HS_`$LA
M)9J5PDR<8RZMY/#9LH\=),3%R58_>S8R:FL7RVYLY#%1XG+>F68NLN9?71UV
M.&9$EAI28U'^+VI-."=+"1L661(531[E33BJ;/<T>46.RBYO`>@),S;=MYEM
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M2V#.3=_?$_\`6"G4312(KC`N;R-VUNC;^'MOW'+D&LL31K'6M=6KH%CB:R9T
M;V6[KG,GD17KQS)\/C<R-C'IK;#GQN?:6Y<Y2^BT6+<M>M*V6W2ZU&VD?.]\
M#96/HT&MDKQ:1IP0+^+5C'R/?&JDHQ?0L2```&.'JD_FV0/]]&N?Z25&%WMV
M?N43_%:W^V9O_P"7W_$#_P#!W/PH#U(M5?@OUO\`>%3_`&/1PTTF\<KT``!T
M(OG#O[>_D9_0ID?9CS##)[V.OX@L+_=W/T*<Q*]N+^&G/_UZ7Z;7+-?1R-Y)
MH/7[U"SW,%7(FW:5V+6YV3MD-$2L`9%_*4>'?V*SLT4W;5QA1A7HQ%=_/(9.
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M,Y.7&<R+V>);>S*5Z"_3R3<1D+&,CKR)0LU6>-2U>IGC2HYJ]3'`^)KIKO"V
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MFU-UU7K/,SFZI"!I)?0<J<-)UZHV%`TG;IM]*2^6L?5';.KMUT4EGRB1$GRR
M:9L]K/`7&YUWLYEN7\>#VI4OV+V>EBJ_B&]7-#6F:K[,JNDX6P/96;(C'2JU
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MR#Z<D<SHFHD#VK"[K8Y%;&LG!JQ%1I(;]S8%]CI[D>%QNW;_`"YH1+/1F:RP
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M'8;W?8+_`(;<9\_R'Z7*>@P,4#,@`"`/58_9I<^/Z*.\?R?S@`\^OIX?F:Z1
M_L><]E,T-['LF?N#P']Q)^?E//?[87\2&Y_G$'Z-"31&1RF-2::]/</@C):+
MFE9)&'D64JK"RKJ"ETHYRD[4C)M@1)1]%2!$#',UD&A%R941/P.3!\9SC''`
MEM++8W(]=XA8AF2O,Z*7@>UW5RMTXHWZ+\%Z(J:M714U3H.Y>Q][&LADR,,M
M>.S7;/$LC58DL+U5&2QJY$XHWJUW"]-471=%Z%*,MU6U[ME.7US:$RV!2`<0
M4S,0+&8EXB6AUWR3IQ`O5W,$]CY%KAZV36RGP5["A,&QG&136X\5L_?<5C:^
M95EAU5T4DL;)9(WQ*]'+$Y71/8]O$B.T^%HY$7H4J3;V=W?L!]?>6"=XFVVR
M>&&=\,4L4S6*UL[$;.R2-RL<K.+5NK7*W14+37W4_*M0&D'=K]7Z318ZKDJU
M<@)>1DWT#",7=>5=*45`[%%\A'2LK!NEEC,3.$EER]H_=SC.>%"[JV'R6VM!
M5W%N*#'XV"FE:&"5\BPQ-=`Y5J)P<;8Y)(G*Y8E>U[T57:+TEP=I;_Y\;ML6
MML;4MY3*V[ZVK%B*.)D\[V6$:EYR/5CI(HIVHU)TC<QBZ-Z.A#X-/<LNA8[5
M+2.B641M*'M%<C&$ML-1\YE#VN/CI=>P1CF)?M))TA7&K&;5R[02BU6Y$'9,
M*XX'+CATM@\G>5]?9;*59*^8K7JL;7W%?QK88R196.C>V1R1-;,JR-2NK&LD
M^$U$<U%3M<Q>=O->YOZ2[?DLX'(T;LCXL>C&Q)5DDA;7E;+&^-KK#GP)U3W6
MFR+)$O`NK5Z;PMJ9K?6[BLSQFB4.^9,?<WK,W.RLO*R*C6ZV-C(XK1)*9>OG
M4@M8+*@W.7"ISG,KC!<9P7/`7!K[>V1M&2I>5L<-F.+Q"&665[Y%;:GC=U''
M*][G++.R-4155>)$1%TZ"W4^Y-Y[TBO8I)'6:LLOI*S!!%#%&CJ==\?C*QPL
M8V-M>LZ1%X41J-U545>DLQ7]6\H$M+6VJ5B%I;Z3LTI-P$Y`14W-K-T9JLR#
M&US[&N,DY',?7)&!F,MWZYHK"!VSK!38-@Y<E%N\1LOD+>N7L+AXJ$MB[/+!
M+"R:16I+`]EF9D+$DX(7Q2JR9ZUTC5DFCM4<G1<G+[Z]HG'X_'Y[-V<E%3HP
M06()Y88$<Z&S&^K`^P]8^LL1SP]9`Q+2R-DB56Z*U44K^4T?H6JU213FZ77H
M6I1-.E86;=RKIZ@U2J#FPH7></-R;MYE==-Y9V*<B[>.%#+J+$[1SY[N!55G
MEMRLPN!E6]2IP8*"C+#*^1RHU*[IFVYNMD<_5>*9B322/<KG.3B<Y>DI*CS0
MYL9[/POQ>2N6=P6,E%-`R)K'/6VVNZE`D,3&<+596>ZO#"QJ,:Q=&M+D5^(I
M]?,[5KB49''V%.R%R6,W=%R:TS\PP3D).9:D55.9XNZC695S]YQV<(D[?#!<
M9R*QPU';.$1\F'2O"F4LOLKPN3\?-(U'OD355XE<QO$O#T<*:Z:%&9?(;ARZ
M1QYET\S<14CIIQ-72K!"]8XH7*C4X&MD>K$X^GC=PZJJIIRBL[#-[`SJB\DT
M3LDC"/K*QA#GR61=U^-?,8Q_,(-\XSDS!I(R;=$Y^/#"BQ<?1$Q7,XM,JW!+
M/'Z9?7?.V'B3C6*-\;'R:=WA:^6-JKW$5[4]TZ$>)R4N)DST4$CL+#996?,B
M:QMGD8^6.%SO<D?''(]&]U6L<IRV?H?P?N[OT1-$[G22Y2&?4(_,WWE_8$3[
M)(@8[>U?^X/<'S9GYZ(R2]D+^([:_P`[F_1I3OV]'S]ECT^OT2M(^P:(&B,]
M"A]75V_9=\__`.B9N_V"3``Z`?3Q_,ST?_8\][*9H;U_9+_<)@?[B3\_(>>_
MVP?XD=T?.(/T6`F@,D#&D```'[OW?YQ#0:JG<(][FWD73MGI*,K&%>5"6J&X
M;?:W3-!5S86C365;C)YLC`-O/+9FNX?J/S$4(MGZK&"X*8N>.1:'F-S.7E[G
M,;#:A23`STLE9LN:CG3M90@CE1(6\36.<_C5%1W=Z-%0O!RUY7.YCX/)R4)U
MCW%7R.(J56O<C:[WY*S+`YT[N%SVMC2-%:K.XJJKD5-#AFW-+6WCM.N--=[.
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MJWC8JJQR(NB.:JHB\+DZ6JJ(NFG0G</U'8T0X=0(@```(:]0C\S7>7]A0_LE
MAQCI[5_[A-P?-F?GHC)#V0OXD-K?.IOT:8[]?1[_`&5_3Y_1)TA[!8@:(ST+
M&2``>79IK\_KJT_IAVWV:;,&T+_+O_Y5NGYS1_`LFIG_`#+O^<;1^;9#\.H3
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M5C;V'BRTS*#YZLD\B3TF95/_`$Y]K\0L;6VG+'&B122NB?-"DR1H[5/FLO.#
MJ2JM$)]=K.2-5>7F4I*=KARU@S23-!+0D?)VJ(9N+`SG[-5V,C,X:9=,VK@Q
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M%=6GT'Q5(-Y`2Q8QE"O)MNV-%SDG*0[Y@2;2/AK)(-5LI]KAVLESQN-@N;FW
MLQO3Z`N;*W/)569K_P`2Z&1&-B61K>KFEEB>SKF+U=AD;E37370MEG.4&Y<-
ML%G,I[H7;<?<;`Z-4G9/$LKYF0N<DL$<4S'K"Y.MK/E8CM-=.+HXEQS!,D.9
MEGH/SBS]#7%6P5>S9=DPY1VB[C5[C&T;SIE7!LD<:\8K/LJ=C_V@R:7:QG/9
MST)>;5>+G`SEJZ)GHY:G"ZQQ?"3(.8MEE56J[[UU%CY^/A7IX&]UQ,(N45J7
MDE+S8ZV3QYE_5*W`JM7&,D2G)>X].ZW(2,@X>+[Q'OTT34^7<.V[SKW9^NZV
M1*J5#6EF;(%EME7>!M$O".[8XGV\<UUPE*P+YA&T2:DHA7+ED_E>^-7;@Q4"
MX[6,\>MS`Y@[CVKO;%8AGB-':%MK>LOVHIY8GV73)&VDDD,D;*LKX^*2*:QQ
M1R/1(F-5R.1>;EWR]VON_8^8S#W7\CO:D]RQ8VE/5AF;5;`Z1V16*=DDMZ&.
M5$CF@J\,L4:+*Y=%323BI#)',0Q#I]W/9*KC@?!?H=KN8XFX?O<,^:+W,=Q(
MBHJ*GW.X6/:J/8CFJBI[Z=S7_MWC8.0B:X_UOYM;^A4'!8_L'_U1[J?RI_K0
MRO?,X_V?G,_^G=M+\FNHQYMMP?\`/[WSR;\XX]1NW?\`I^C\SA_-M.W$)03D
M`#`+\Y\_8F\X?\WJ#\M6OP!U8-!_@*TO_=91?8ZP'HEY3_NTP/\`A-7\Q&>9
MGFU^]7<O^/7OTAY=@7"+?@```[G'''^#_)^_]#`^5(IKIT&-,O,AN4N^-JT]
MO-%7K58FN8-FPB9FCP<96&-<U3K]M/1$C6;T5PG,VR\LK'(-L2409%8N(]7*
MQNP4N3#">+G%S"7F7F,-XSKB*TV7:QDE6)E=L5&FV6-T%GB22Q:;8DB2:OPO
MT@>Z31B,XES87DQRW=RIP.XIJRLS-ZM@'R2PW9I;3[.5ON@ECLT5:L-6B^O'
M(M:VCV+XPU(V\3G(AR]"W'OLNO\`2=VN,_8E7&U=C:SK;R-N>LZ!4FYH.R4Z
M>LDS(5!:I2LHN^AY-TBW3;N'G>'296YN"1>V;.9CM7F+S-;MC`;@S=JVZ7,Y
M>A`YEJE4@3JI:TLTKJ_BTLBNCE<K&L?,K9&HS[Q.)5)?NSEQRG7=NY]L[<J4
MVQ8'#9*RR6GDK]MW7UKD%:&.VEN*)(YHF+(Z2.%)(W+(FLB\*(55RU[EVM9I
MK4L3L.W0E\2W-HN;W&0K"LQ-;F-<O8.PQ,3B*<9A%,(RE7GTICO;-5TD5V5T
MT/CMG+G.,3[DWS&WOE\OAL?NB]7R<>>P$F2T9`R&2B^*6!G`O5+POKRI8X8W
M/;UG60NU>Y%5&R'G5RWV#A,9N"_M#'V<5)MK=,.'U?9FLPY%D]>67K6]<G%%
M9@6'BE9&Y8EBE:O`U412=8RJ^Z8J`1````8X>J3^;9`_WT:Y_I)487>W9^Y1
M/\5K?[9F_P#Y??\`$#_\'<_"@/4BU5^"_6_WA4_V/1PTTF\<KT``!T(OG#O[
M>_D9_0ID?9CS##)[V.OX@L+_`'=S]"G,2O;B_AIS_P#7I?IM<LU]'(WDF@]?
MO4-Q3&+G!BYR4V.[@Q<YQG&?IXSCAG`@J(J:+TH?*HBIHO2AO[ZKG.<Y44SD
MQL'-Q.;ZHY?XIS=WNF+Q[F<]W`^>!GO(.%OO)T)IW$[GO?R#*JN<YSE13.3%
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M/6%NC*HP,#):ZCHYV]A6,HO&8A;*_P`/'^6[I-F[/F.52SA7&#&P7'-'S@V[
M>Y@T]A8)KK<\[KC9IVH]L4,E-L?'&R1T?5SR<<BLD2.55A<U4?TKH<4W)S<F
M,Y;W>8V=1E*O`N/6"NY8EGGCR$DC&3OB;+UU9G!'UD3YHD2PUVK%T15)!855
M+Q[*JF..,8SP4/CC@O\`%QGAGS"_0^D+O*QB]U$_F+0*QB]U$7I]Y#3OBF<8
M+DY\EP7),%[9NS@F<\<EQCCPP7.?-QY@CPMUUT34<+=>+1.+7773W1E10W\8
MYS?4]CZHQL_4>9V.[G^+PQYGF`C&IW$3NZ_Z??"-:G<1$Z=>Y[OO_P`OW3;G
M.39XFSDV<^;G.<YSW.YCNY[O<P(HB(FB=PBB(B:)T(:")])W4*IZ&7_B+-N?
MH42G]%J<:1_;4_?]D?FE/]'8;W?8+_AMQGS_`"'Z7*>@P,4#,@`"`/58_9I<
M^/Z*.\?R?S@`\^OIX?F:Z1_L><]E,T-['LF?N#P']Q)^?E//?[87\2&Y_G$'
MZ-"3"E7DA'14K(1,:::EF,8_>1,,59!OF6E&S55:.C?/#I1%JWP]>$(GDZAR
MD+@V<YSC`O[EYKE?&6)\="MB^R%ZQQ(YK>L>C55K.)RM:WB71O$YR(FNJJB&
M.F/K5+F0@J9"=*V/EF8R694<[JHG.1)).%J*YW`Q5=PM17+IHB*IBVA.7?F/
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MK5<CHUBTTXD[I:>P\O6W->W+4T'I=C8UJ9KE_6)IK=&]@K;=[.2-AO\`-V/<
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M+IR[0R60Y+9G:N'Q-S'9*W3LQQ5K=N.Q(^22'AXEF2S88C7OU1.*5O\`35K$
M70M%7WA1Q_/3;^\<_FZ&5QE')5)IK=&E)4ACABG5W`E=:U9[GQ1Z:\,2^XQ'
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M&&W=(9]0C\S?>7]@1/LDB!CO[5_[@]P?-F?GHC)+V0OXCMK_`#N;]&E._;T?
M/V6/3Z_1*TC[!H@:(ST*'U=7;]EWS_\`Z)F[_8),`#H!]/'\S/1_]CSWLIFA
MO7]DO]PF!_N)/S\AY[_;!_B1W1\X@_18":`R0,:0````"V6Q-/4+:IF9KK&.
MY$S"OW.KM?.LH]CL$AK_`!K6(M"!L,U"=M5XQ9IE(IGZM'..T3AG.10V\.7V
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M8D)^282%C>+6+,)EXA-V"1FF3/T`AT81GB(:OE5$XOSTU;X5=]ZQC+ISDRI^
M)\\16V'VY3PMRU=KRVI);G4\:2S22M;U,386]6U[E2/B:U'2*W19'JKW:N74
MHK,;DNYRG4I6XJ<<=-)N!T->.%[^OF6=_7.8B+)P.<K8N/7JHT2-FC4*J%2%
M/`````$->H1^9KO+^PH?V2PXQT]J_P#<)N#YLS\]$9(>R%_$AM;YU-^C3'?K
MZ/?[*_I\_HDZ0]@L0-$9Z%C)``/+LTU^?UU:?TP[;[--F#:%_EW_`/*MT_.:
M/X%DU,_YEW_.-H_-LA^'4)I#9*:OS4N<XSC..''&<9QQQQQW/IXSW,B"IJF@
MTXNA?=(_37+)JNR2%LE+&6YV![:V$E$F4F;S8I$E6C)F:C;%+,**DX=&3J+:
M0F8AJLH5KC'_`%!"XX$QP%HKW)?9>5NWK^56_9L7HY(_QMN=Z0,EECFD;519
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MRJ=;UFC^+4_&5Y<-<S\?4X>QO=@V*#J7>.Q`S>P[*^@[/AG8\VN.Q>8X[O"%
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MQ,<YD:(CI7-:BRRK\*1ZJ]RJJE1B?$D-<?ZW\VM_0J#@L?V#_P"J/=3^5/\`
M6AE>^9Q_L_.9_P#3NVE^3748\VVX/^?WOGDWYQQZC=N_]/T?F</YMIVXA*"<
M@`8!?G/G[$WG#_F]0?EJU^`.K!H/\!6E_P"ZRB^QU@/1+RG_`':8'_":OYB,
M\S/-K]ZNY?\`'KWZ0\NP+A%OP```UQ_#CZ?=_>[N/_*/EQ%/NEC):N:%>VR4
MU_-UZMXLI_/6]I1L^;.&B7GNS+NZ%(7)2:4409DD9K!56#A'"V#+(9S@Z>29
MQQM1>P_*QV>EVO?JU&YA>++O:YCFIK/QTWV%ET1J.D3CA>WCU<Q51S58I=/'
MYGFO6V_!NW&7+GH5.'!Q.C<UZ\%9K+\=-(41SUCAU98C?P*C'HBM>CD*S<5O
M6!X"BLG;2HYK-4?0KC79%G[+$1&2,0Q7C($]<<&>%0<.6<>X410P0ZF>R;..
M`J*;$[&?B\96G91]$4I(G445S>!DD;5CB6%==-6L56MTU7370IN'-;X;ELK:
MKR9'TW?BF;D%1C^NECE>V2=+#49JUKWM:^35&]*(NI\NOM-ZJU/Z(^YO0:]3
ME)8J2<DO$-5?/;I!NHHL@Q.[=JN72<<V65,=-J0Q$"'-G."8SGB(;3Y=;)V,
MZ5^T\=6I/G1$>Z-OPE:BN5K>)55R,17.5&(O`BJNC4U4Y]W\R-^;_P"I^F>6
MN9)E=56-LSDX&N<B(Z1&-1K5D<B(CI'(Z1S41%<J%R17!1`````!CAZI/YMD
M#_?1KG^DE1A=[=G[E$_Q6M_MF;_^7W_$#_\`!W/PH#U(M5?@OUO]X5/]CT<-
M-)O'*]```="+YP[^WOY&?T*9'V8\PPR>]CK^(+"_W=S]"G,2O;B_AIS_`/7I
M?IM<LU]'(WDF@]?O4-0(```!QDW%H3T'.0#E11)M/0TK".5$<EPNFWEV#B/7
M50R?M$[ZFBX-DO'&<=K'=XX$MRV.BR^,L8N=7-ALP/C<K>ZC7M5JJFJ*FO3J
MAW\5?EQ.3JY:!$=/5LQ3-1?O5=%(V1J.TZ=%5O3I[G<Z2-,'RUV"'JNOJNIO
MF[R>-16*C6/5<HYJE!;KU)>C,9.(;LEVS*#0;6-G*P\J=NOY]PH<N2%43-@W
M'.;'U.1]R';E#;MK<60L0XBQ5EHO=!3:ZOXM')"K'(R!J3LEADX'=:CG-T1S
M'-=TK>S*<ZL1DL]E\ZS:F+@7<-.[7RD3;5]S;;;SXY7/1SYG.KOBFB;(SJ5:
MU=5:]%;IILBN5S[FYPDK5=MWB"9P9=NN-=0Q8NJ/V^O9G=.47-MEHQ\[BC2$
MSYVE4S.62#XZR2.5,DSVB\.$:O(F+&9'Q[#YN_7@KID5I1=76>E*3)KQSR,<
MZ+CEX)=7Q,F<]K.)6Z.30^K_`#U7-8Q<?GMOXNU9M+B6Y&99;4;LA#AM6U(I
M6-EZN'BB5(II(&L<]&H[H7764C-%9LR9MG+M1^Y;M&J#F073237?N$$$TEWR
MR:!4T$EGJI<J'*0I28,;."XQC@+[4X9J]:*":1TTS&-:YZHB*]41$5RHU$:B
MKW=$T3WD+$V9(IK,L\,:10OD<YL;556QM<Y5:Q%<JN5&)\%%5554355U/H';
M.`````$4[J%4]#+_`,19MS]"B4_HM3C2/[:G[_LC\TI_H[#>[[!?\-N,^?Y#
M]+E/08&*!F0`!`'JL?LTN?']%'>/Y/YP`>?7T\/S--(_V/.>RF:&]?V3/W!X
M#^XE_/RGGO\`;"_B0W/\X@_1H2:(R0,:0````````````````(:]0C\S;>7]
M@1/LEB!CI[5_[A-P?-F?GHC)+V0OXCMK_.YOT:4[]G1\_98]/K]$K2/L%B!H
MC/0H?5U=OV7?/]^B9N_V"3``Z`?3Q_,ST?\`V//>RF;&]?V2_P!PF!_N9/S\
MAY[_`&P?XD=T?.(/T6`F@,D#&D````````````````"&O4(_,UWE_84/[)8<
M8Z>U?^X7<'S9GYZ,R0]D+^)#:WSJ;]&F._7T>_V5_3Y_1)TA[!8@:(^[W#T+
M&2``>79IK\_KJT_IAVWV:;,&T+_+O_Y5NGYS1_`LFIG_`#+D7TQM'YMD/PZA
M-(;)35^````````````````!KC_6_FEOZ%0<%C^P?_5'NI_*G^M#*]\SC_9]
M\S_Z=VTOR:ZC'FWW#_SZ]\\F_../4;MW_I^C\SA_-M.W$).3D`#`+\Y\_8F\
MX?\`-ZA_+5K\`=6#0GX"=+_W647_`,M=8CT2<IE1>6>!T_5-3\PP\S/-K]ZN
MY?\`'KWZ0\NP+AEOP````"'F\^7:Q;7OSFPMG58-7GU/U-67L7.'>F.\Q1]Y
MMMF3R3EL@Q<-UF$A7TC-TBF-GOCC/9/@J?$XQXYG\H<QOK=+\O7DI^BI*&-K
MOCF635WBF52],CD:QS58^%.!J:]+UT<B-Z3(SE9SBPVP=I1X>=EY,Q%D<K99
M+`C$1GCV$=C8%:YSVN22.PJ2.5$^#'\)BJ_1I;Y;EWE-<6C[MWL;I>PZZC;7
MM<L'1=ARDC!TW6T)LG9T9::O9*H0E?E8QG9XYJ3,89EA%`A>VF5LY)C)L&HM
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M^)X28`````QP=4G\VR!_OHUS_22HPN]NS]RB?XK6_P!LS?\`\OO^(#7_`.AW
M/PH#U(]5?@OUO]X5/]CT<--)O'*]```="#YQ`=-/KV\C1E%$TB8Y*9'B=50B
M2>.-QYAL8XG4,4F..>YCN]W(R;]CV1D?M`8:21R-8D5Q5551$_X*?WS$OVX&
MO?[->>:Q'.=QTNA$55_XV#W$U4LIY\8\?_;X_P"SV?\`7C=[Z4QOY>+XR=\T
M*+6M<*?B9O!O^2:^?&7U_'_9[/\`K@]*8W\O%\9.^0\6M?D9O!O^2//C+Z_C
M_L]G_7!Z4QOY>+XR=\>+6OR,W@W_`"1Y\9?7\?\`9[/^N#TIC?R\7QD[X\6M
M?D9O!O\`DCSXR^OX_P"SV?\`7!Z4QOY>+XR=\>+6OR,W@W_)'GQE]?Q_V>S_
M`*X/2F-_+Q?&3OCQ:U^1F\&_Y(\^,OK^/^SV?]<'I3&_EXOC)WQXM:_(S>#?
M\D>?&7U_'_9[/^N#TIC?R\7QD[X\6M?D9O!O^2//C+Z_C_L]G_7!Z4QOY>+X
MR=\>+6OR,W@W_)'GQE]?Q_V>S_K@]*8W\O%\9.^/%K7Y&;P;_DCSXR^OX_[/
M9_UP>E,;^7B^,G?'BUK\C-X-_P`D>?&7U_'_`&>S_KP]*8W\O%\9.^12M:U_
ML9O!O^25?T+SIJ?.*MMF2425)GDHE>!T5$U29SA/4_'&#IF,7.<9_?&E+VSY
M8Y^?>1DA<CHUIT^E%U3^P8AO8]@UCV>S?C&R-<UWC^0Z%147_BY?<713T&AB
MH9C@`0JZD%(N&R^0/G)U[KZMRUQO-UY;MNUFI52!:F>S5BL,S2Y=C%0\4S)G
M!W+]^\6*FD3'=,<V,`#SD>7W0_63T/IZDZF:](7F1LC>GLGC4DV[JUQC7,AA
M[)O)/)U62,4JFW,F9YV.&#9[A>.>Z,W.5OMG9/EEL6ALFO@X;4=%CFI*MA6*
M_B>Y^JMZI^B_"T[NG08!\W/83QO-;F+D^8,^Y+5*7(R,>L#:L4C8^")D>B/=
M(URZHS5=43I70O+Z"=9OQ-/,3Z27;P,+@?:&9OU<K^=+V!;C[-'$^MUSS*'M
M1Z"=9OQ-/,3Z27;P,'VAF;]7*_G2]@/LT<3ZW7/,H>U'H)UF_$T\Q/I)=O`P
M?:&9OU<K^=+V`^S1Q/K=<\RA[4>@G6;\33S$^DEV\#!]H9F_5ROYTO8#[-'$
M^MUSS*'M1Z"=9OQ-/,3Z27;P,'VAF;]7*_G2]@/LT<3ZW7/,H>U'H)UF_$T\
MQ/I)=O`P?:&9OU<K^=+V`^S1Q/K=<\RA[4>@G6;\33S$^DEV\#!]H9F_5ROY
MTO8#[-'$^MUSS*'M1Z"=9OQ-/,3Z27;P,'VAF;]7*_G2]@/LT<3ZW7/,H>U'
MH)UF_$T\Q/I)=O`P?:&9OU<K^=+V`^S1Q/K=<\RA[4>@G6;\33S$^DEV\#!]
MH9F_5ROYTO8#[-'$^MUSS*'M1Z"=9OQ-/,3Z27;P,'VAF;]7*_G2]@/LT<3Z
MW7/,H>U+/;^T5UD]ZZ>O.IG72#YD:XA<H]HR4FVM7N4BX88:2+.1PJDR6BDD
MG!CY:=CADV/XW'S10'-#VT,IS,V-?V59P<-:*]$C%E2PKU9H]K]4;U3=?O=.
ME?=+B\I?81QO*OF)B^8$&Y+-V7&RO>D+JD4;9.*-\>BO;(YS?O\`7H1>YH>B
M?TNZ!=M5=.?DEUMLFK3-(O\`1N6?457N-0L+0["=K5BAJ=&,I6&EV2G$[608
M.TC)JIY[I3ESC(PB,_CZ.IQ0KIM+IX<ZNN-<UB8NE]O'+5MVL4^I5]H9_.6.
MQ3%-E&45#1+(G`[M^_=JE323QW3'-C``\Z7E\T1UD]#Z=I.I6O2%YD;(A3F;
MYJG..JO<8UP_P^E'DGVU62,4LFW,GEYDG#!L\<%XY[N<C-OE;[9N3Y9;&H;)
MKX.&U%18YJ2K85BOXGN?JK>J=I]\J=U>X8!\W?84QW-?F+D^8,VY+5*3(R1N
M6!M6.1L?!$R/1'ND:JZ\'%THFBKH7D]!.LWXFGF)])+MX&%P?M#,WZN5_.E[
M`MQ]FCB?6ZYYE#VH]!.LWXFGF)])+MX&#[0S-^KE?SI>P'V:.)];KGF4/:CT
M$ZS?B:>8GTDNW@8/M#,WZN5_.E[`?9HXGUNN>90]J/03K-^)IYB?22[>!@^T
M,S?JY7\Z7L!]FCB?6ZYYE#VH]!.LWXFGF)])+MX&#[0S-^KE?SI>P'V:.)];
MKGF4/:CT$ZS?B:>8GTDNW@8/M#,WZN5_.E[`?9HXGUNN>90]J/03K-^)IYB?
M22[>!@^T,S?JY7\Z7L!]FCB?6ZYYE#VH]!.LWXFGF)])+MX&#[0S-^KE?SI>
MP'V:.)];KGF4/:CT$ZS?B:>8GTDNW@8/M#,WZN5_.E[`?9HXGUNN>90]J/03
MK-^)IYB?22[>!@^T,S?JY7\Z7L!]FCB?6ZYYE#VH]!.LWXFGF)])+MX&#[0S
M-^KE?SI>P'V:.)];KGF4/:EGM_Z*ZR6]=/7C4SKI!\R-<1N3!JR4G&M7N4BX
MCRM9%G(]\29+12*3@Q\L^QPR;'<-Q%`\T/;0RG,S8U_9-C!PUHKT2,65+"O5
MFCVOU1O4MU^]T^^1.DN+RE]A+'<J^8F,Y@0;EM79,;*]Z0.J11MDXHWQZ*])
M'.;IQZ]"+W$/1.Z75`NVJ^G-R2:VV35IJD7^C<L^HZO<:?8FAV$]6K%#T^,9
M2L-+LE,Y.UD&#M(R:J>>Z4Q<X&$)G\3Q`'19VU\V-ZEC_F=YI-X:%YZ-#ZNK
M?,3NFY;14@5J_>',FDSG;'-S,(SEC&J\BUP_C&LTHD?*"F4S&SG.,YQPX7%V
M-S7Y@<MH;$&RLC+1BMN8Z5&MC<CUC1R,5>-KNXCG=S3NEKN8O);ECS8EJ3\P
M<3!DYJ+7M@61TC>K256J]$X'MU1RL9W?>Z-"G?)JNM)XS70_K6N7M%%>_6FY
M\>L$_@H.R+;_`%.?9L]5J7QY^U'DU76D\9KH?UK7+VBA]:;GQZP3^"@[(?4Y
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M'AU-=#]W!L?^ZURQW#8R7./_`'&QYN,Y'ROM2<]W="[@L>#@[(A]3GV;/=VM
M2[O].?M3L&]![I?;;Z4?*SM#1.Y=G4/:UHO_`#`67<2%BU\SGV46@PL%,HE<
M-'OB6%HR='DL2%576,9-/"7>UB8QW<&%A;$\MJP^S.[BFD>KG+[[G+JJ_P"E
M553)2O!%5@96@:C8(V-:U$]QK41$3_0B:&;L<)S``8UNKIR2WCJ(\@6\>477
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MKH?UK7+VBA]:;GQZP3^"@[(?4Y]FSU6I?'G[4C%SC]`3JR:0Y>;GL?:'4(TQ
M>*5#2M!92E8BJW:T7T@YL&PJO7H95)1S3VJ)2QTW*MW)^)\<2(YQYO#`E>7]
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M+4%YRI```&#;J:=`SE(ZJ.\:5O[?5_WM4;G1-8L-4P[?5EJKL%$'KT?9K1:D
MG;A"7JLZY]%5'UM<IJ*)JD(=$B9<EXEXY^XI9H'I)`YS)$[BM714]SNIHO\`
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M8'$<H`#(`TQC]WTO\H`U``````````````````:<./\`S`#4`:</W?N[@`U`
M```````````````````S^[]WT0``````````````````````````````````
M`````/\`D`&G'N?\GT?,X\/X0!C/ZOOY@>V_OKT5^7K6@`R8@```````````
M````````````````````````````````````````````````````````````
M`````````````````````````````````````````````````````IRWDM:M
M6L"=%=5]C<U(A^2KO;6RD)*LM)PS=0L:YGHZ)?1DF_BD'62G61;N6ZJI,9*5
M0F<]K`'6P7YZN;:[\O>CK8]YA(W7E\I_3[G.="U6&OTNE,HSF#VU";M8:SQ2
M7D#.M))M&:S9,$U".8N*51?'<V)AG+KMMTN^`?96>;KG(V'`T79$7OLD:MS)
M:MYM-JW_`%$]0I%;:\KD;RM;HU358JHT>R_<G,S<':'T%<7E>EE+"B_Q)3F4
M3)E;*\<@#,?R&;RF=^Z-9W:Y6O%@V,X>L75\AV]7EJG%TF1G:W`V*%K=?8S4
M;&OI.`-6)5F\;R.2F*_RZ.J7L\>]D`M+U??S`]M_?7HK\O6M`!DQ````````
M````````````````````````````````````````````````````````````
M``````````````````````````````````````````````````````````$=
M9OE&Y8;)'ZKB9[1&L96+T@]R_P!2Q[NIQ:C.@K&>-9%1*O-^\82:L%I)@W=*
M-<X,V4<MD%C)Y412,0#[X?E:Y<Z_<;[L&$TMKN+NNT)B)G]@V5E6H]"4MLQ"
M3B=GCWTPN1+&'"OW3)%DE\<,%=R!<.5\*+8P<`7!H6LM?ZN8R\9KRH0=/83T
M_(VB9:P;)-FE(S\KE/S])NL$XY475(B0A<<>PDDF5,F"D*4N`("]7\Y2<@>W
M,G,4A<6S1..T?."%QQWWK/&.)L]S'=R`,F@`````````````````````````
M````````````````````````````````````````````````````````````
M``````````````````````````````````(7]0/G9H?3PY3MH<W.RZI;+M3-
M68K&9>M4CT)^Z60^ZFV0M1:><,SC^,C,8;/9M-57OBQ<]Z(;AC)N&`!UN$OG
MEW)ZNDDNAR5<ZBZ"R95DEDH'7:B2J1RX,11-0EQR11,Y<\<&QGAG`G$>WL_+
M&DL=&XZ-R:HJ0R*BHO<5%1NBHOW"2R;DVY"]T4N0I-E:JHK73Q(J*G0J*BNU
M147H5%[AO\LJY0?D2\['K>U[[<1]?1K<?ZON^`E^2?'THVQ^LJ'G$7RQY95R
M@_(EYV/6]KWVXA]&MQ_J^[X"7Y(^E&V/UE0\XB^6/+*N4'Y$O.QZWM>^W$/H
MUN/]7W?`2_)'THVQ^LJ'G$7RQY95R@_(EYV/6]KWVXA]&MQ_J^[X"7Y(^E&V
M/UE0\XB^6/+*N4'Y$O.QZWM>^W$/HUN/]7W?`2_)'THVQ^LJ'G$7RRDKQ\[N
MY#MEUI]3=@=/[F^N-5DUH]Q(5^PU#6TG$O%XF1:2\8JX9N;<=%11A*,$7"6<
MXXD52*;'=Q@/HUN/]7W?`2_)'THVQ^LJ'G$7RRK?+*N4'Y$O.QZWM>^W$/HU
MN/\`5]WP$OR1]*-L?K*AYQ%\L>65<H/R)>=CUO:]]N(?1K<?ZON^`E^2/I1M
MC]94/.(OECRRKE!^1+SL>M[7OMQ#Z-;C_5]WP$OR1]*-L?K*AYQ%\L>65<H/
MR)>=CUO:]]N(?1K<?ZON^`E^2/I1MC]94/.(OECRRKE!^1+SL>M[7OMQ#Z-;
MC_5]WP$OR1]*-L?K*AYQ%\LV&^>9<F:"K,C_`)..<B*2>/FD>FZDXG6[)IAP
M\6*DD4RZ]R*3M9XYSC''CG&,\!U[6&R]&+K[M6S##KIQ/B>QNJ]Q-7-1-?N'
M:J9O"WY>HHW*L\^BKPQRL>[1.ZNC7*NB:]W0[?U<FD+)7H*Q-4E6[:?AHN:;
MH..QW]!"59(/D45^]F.GWY--?!3=DV2]K&>&<X$M)F<R````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````P"_.??V)O.'_`#>H/RU:_`'5ET&X
M7QHG2V,*J8QC5=%QCZK/<Q]SK#'#^#A@>B/E2QK^6N"<Y$5?1-3_`+H(SS*\
MVHH_VJ[F^"G_`#Z]^D/+L^>%_P#TJG\K(N!U<?O(6^ZF+^BA3-SNT50*G8KO
M9W;UM7*I%.9R==,F3V4<M(MB7"CQV2/CTG#UR5LCQ.?"9#&P0N<\.&,B2;DS
MF)VI@K6X\PKF8JG"Z65S6.D5L;$U<[@8USW<*:JO"BKHBK[A/-L[8O[MW!3V
MQA(XGYF_8;#`U[V1-?*]=&,6216L:KE^"BN<B*Y437I..B]G5.9M+ZGQ<^5W
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M*2)DG!\,4S)%R;!E>QCAC(^(LKAIDE6&Q6>D":R:/8O`G2NK]%^#T)KT^YTD
M9L)D*[HVST[$;YUTB1T+VK*NJ)I'Q-17KJJ)HSB754-B5HA7!8LR-EAU"3F5
M"P9TIJ/4+-&3_P"M+$&*YSB2REG^-A'MYQD09E\'(D#H[-5R6?['21B];IW>
MKT7X?_Y=3Z?@<E$Z=LM*RUU719T6&1.I1>YUR*W\5K[BOT+8;0Y@]?Z>D(V-
MO#ZS-UI"!F;6LM!U*R6=E"52O/8YA.6>R.H%@^)`P,6[EFY5W*_9(GA3&<]S
MNBC-Z\S]G[`MQ4]Q.LM=)6EL.=%5GG9#7A=&R6Q.Z&-Z0PQNEC1TCU1J<2*J
MZ=RN-C<H=V\Q:DUS;$5%\<-N&JC9[=>L^>U89))#6KMG>Q9YY612*R./5SN%
M43IZ#X5>9+7I+%9*XU/?)52GG,2S6"%UY<IFE0N2UMM;O]X71A$KUU`N:X\1
M=8R9?'$BQ/HFP.K^UO9SLI:Q==F0G;2_XB>*C;DJP_B&VOAVF0N@;^(>QZ:R
M=Q[?=<FO;9R6W<[#4LS.F*KMR*:UH)LA3ANS?[RZI^+IOE;8=I88^-=&+TM=
M[B*<4AS8Z=6GXN`S8;"V]%VU$<(6%Y4+.WIK-79T0VG*%&S5N/'>@D%*V6/=
MIY;H/%4<Y4-A/.<'^I'09SOY<ORL.)=/.SKXZ;DG=5L)6:Z_&V6G'+86+J8I
M)V/;P,D>Q>)4:OPO@G>EY`<Q8\3/EDITW^+OO-=79;K.N/3&2N@O20U$DZ^>
M*M(QW&^)CT1J*]$5O22*,LX*;)3**%,7.2F+DV>.#%SW<9[N>[C(O`UD:IJB
M(J*6<ZN%S45K6JB].OOZFGGA?_TJG\K(CU<?O(0ZF+^BAC?ZI:RI^6N!*90Y
MB^[3KC/9R;.<<<*2W#/#Z8PQ]NIJ-Y*?!Z-<K6_VS.'_`"^8V-]H+5J(B^@[
MGX4!ZCVJOP7ZW^\*G^QZ.&FHWE%>@```````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````,`OSGS]B;SA_S>H/RU:_`'5@T'^`K2_]UE%]CK`>B7E/
M^[3`_P"$U?S$9YF>;7[U=R_X]>_2'EV!<(M^?*^CX^782$/+-B/(F78/8F59
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M9.MKOK&TM<7-I-D<O'+4C'**F.\J]]R?$FI\A>8$%G`2SV,4]N)LUK"<#YHU
MAE;D)[=ML:I`YUAEF*5L3.MD8V%6O_%OXU<E67?:(Y;SP;C;7IYB-^;K6:SD
M>R"5)XGXRO2INF:MA&5GU)872/2*.5T_$Q>L9U:-7[5>22RM:Q68R">ZZC9"
M-H!H:Z-"LY-K![2L+#><'M..B[QF.9MWLM5Y.`8.HQTNMA5RCYZR4J:B.3$S
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MF]L99W&^C"[Q=E+_`-=LV)8YK,B/=.YU:*?1T$;49)(B?C.!%1<B:JF55%%,
MXP7)SY/DN,\>':SG.,=WNYQC'T?HC+N-O"U&^\AARUO`Q&=U$334_,<A]&.'
MJD_FV0/]]&N?Z25&%WMV?N43_%:W^V9O_P"7W_$#_P#!W/PH#U(M5?@OUO\`
M>%3_`&/1PTTF\<KT````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M```!@%^<^?L3></^;U!^6K7X`ZL&@_P%:7_NLHOL=8#T2\I_W:8'_":OYB,\
MS/-K]ZNY?\>O?I#R[`N$6_```!_R=T0(IT?Z>@C]`;`L#G=O,+2W4O&K1E(J
M6IY2CP;]1HQ*C+66IV>4EBJ+IES(.T9&1CD,FX%5,F7'`F.[PS93&;SRR\PM
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MW/X&1HJ:D_:1+8F:A5'RS].1DEZI57<RJ55`SG$G(UZ-D7)WR"!LX:N71G/?
M>]YP7N'XXQV>`RQVEDER>W:=B65);JU85D7HXN-\3'_":GWJJCD=I[RHJ="H
M8D[HQZXW<60JQ0NAI,OVFPIH[AZN.Q)&U&.<GPVMX>'BU7N=*ZZE5"I2GP``
M``#'#U2?S;('^^C7/])*C"[V[/W*)_BM;_;,W_\`+[_B!_\`@[GX4!ZD6JOP
M7ZW^\*G^QZ.&FDWCE>@`````````````````````````````````````````
M````````````````````````````````````````````````````````````
M``````,`OSGS]B;SA_S>H/RU:_`'5@T'^`G2^?\`]+*+['6(]$G*=?\`_FF!
M_P`)J_F(SS,\VOWJ[E_QV]^D/+L"X9;\````@-2WLOJ75L_;65]G==U&7N\:
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M55C<NKV:KPN352MX2J5BM.)IY7:_%0CJR/&DC/KQK0C568?,(UK#,G;_`"3/
M!9=I$L46R>>YV44BEQY@JG%[=PN$FL6,56AKS6Y&OF5C4:LCF1LB8KM$Z5;%
M&QB:]QK41.@I?)[@S>:AK5LQ<L6H*4;HX&R/5R0QOD?,]C->XUTKWR.[NKW.
M7W2H!.R3@````&.#JD_FV0/]]&N?Z25&%WMV?N43_%:W_P#(9O\`^7W_`!`_
M_!W/PH#U(]5_@OUO]X5/]CT<--)O'*]`````````````````````````````
M````````````````````````````````````````````````````````````
M```````````````````86/G"FD-O<QG24YHM/Z(US:]L;1M9-88K=#I,4M-6
M6:]"MLTF7D\Q\:A_TSGSC%L5G"G9XYPDF;/T`!TI*)KCK,TBCTVEI=';F'D$
MZA5X.LIOU(*WH'?$A8]!@5XH@2/.1%1P5'M9*7.<8SGA@9^[8]N[,;:V[2V_
M%@()(Z56*%'>,N3B2)C6<6G5+IQ<.JIJO=T-;.ZO\NW%;HW1DMRR;JN1/R-Z
M>RL:4X7(Q9I'2<".61%5&\6B*J=PJGT`ZSGB:N87THN7@P3[[0K-^KM?SE>Q
M)!]F?B/6Z[YE#V@]`.LYXFKF%]*+EX,#[0K-^KM?SE>Q'V9^(];KOF4/:#T`
MZSGB:N87THN7@P/M"LWZNU_.5[$?9GXCUNN^90]H/0#K.>)JYA?2BY>#`^T*
MS?J[7\Y7L1]F?B/6Z[YE#V@]`.LYXFKF%]*+EX,#[0K-^KM?SE>Q'V9^(];K
MOF4/:#T`ZSGB:N87THN7@P/M"LWZNU_.5[$?9GXCUNN^90]H/0#K.>)JYA?2
MBY>#`^T*S?J[7\Y7L1]F?B/6Z[YE#V@]`.LYXFKF%]*+EX,#[0K-^KM?SE>Q
M'V9^(];KOF4/:#T`ZSGB:N87THN7@P/M"LWZNU_.5[$?9GXCUNN^90]H/0#K
M.>)JYA?2BY>#`^T*S?J[7\Y7L1]F?B/6Z[YE#V@]`.LYXFKF%]*+EX,#[0K-
M^KM?SE>Q'V9^(];KOF4/:$?N9/E;ZQO,S0X?6\GTE^8^E,T+W5K2M.,ZM:I9
M8A85PN4S?+5TR02PDJ5YDQC\>)<$^EQR+0<[/:PR7.;9GT/MXB&E'XS'-UC9
ME>J+'Q='#U;$Z=>ZJ]!>OD%[&>/Y%[]^G-;/V<E)XE-7ZE]:.)OXU6+Q\37J
MNK>#H33IU/4GUPR>1NO*''2#95F_CZ95V3YFN7L+M7C6#8H.6RQ,YSV%4%DS
M%-CZ&<#$,S:*S```````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M`:</]/'Z'_,`-0```````````````````/\`.```````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
3`````````````````````#__V3\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>logo.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 logo.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@`4`$J`P$1``(1`0,1`?_$`+<``0`"`00#`0``````
M```````("0H!!08'`@,$"P$!``$%`0$```````````````4!`@,$!@<($```
M!@$#`P($`@<#"0<%```!`@,$!08'`!$((1(),1-!410*(C)A<8&1T146%S>W
MH;'!8B-#MG=X\$)2@B<X&1@Y&BHZ$0`!`P,"`P4%!P,#!0`````!``(#$00%
M(1(Q009187$B$X&1H;$R\,'10E(C%.$5!_%BPG*"DC,D_]H`#`,!``(1`Q$`
M/P#/XT1-$31$T1-$31$T1-$31%&GDQRHQEQ4@*5/9(C[[,FR/?(S&5,@,;4J
M8OMKL%REV$E)QT0P@(,AWZYUV<4N;N*&P=FP^NIK"8&_Z@FE@L#$'0PF5YDD
M;&T,;Q.YY`Y\*K>L<?<9!SVV^SR-W'<X-%/$KX\"\IZOGV7L$-!XNY"X\5KK
M!K(KN<U85N&+(Z23>N56Q6D"\LK9NE*/FITA%9%/<Z9!`P]!WU3*X.[Q#(WW
M#[>1LE*>E*R6E?U;"=O#6O#3M6.>SFMP"_:0>P@_)=EYLS)2<`XHOV:,BN))
MM1<;5UW:;2YB8Q>8D6\0P[/JEF<6U`'3U=,%`$$R;G$/0-:.)L9\WD(L9C=L
MEU*[:WS`-J!6A=P!IVK%%#)-*R"/61[J#Q78D=,,92-C99HH8S*58LI!FHHF
M9(QFS]NFY;&.0X`9,YDE2[E'J`CL.M=[#&2U]`6D@^Q8Y08:[^3J>U?8#A,1
MV`1'](%$2[_+?XCMJQI:YF\$;:5XK%ZC:TH>-.'-=.YUSUCOCM4(:\9+>2;.
M!G+_`$'&L<I$Q+F8<J6K)=F84^JME&K4!419N)J42(LN/X$$Q$YOP@.I#'8N
M[RKY([(-<Z.%\IJX#R,H74KQ.N@&I6U!!)<N+8A5P:7>P<5M]UY%8RI&9L68
M`D'TK*Y9RRSL$S7*I7(9S-/(NI5=),T[>+>LU**%5IK5TJDT*^="FFX>JD02
M[SB(!6#%W=Q82Y)@8+.$@.<YP;4G@UH)JYW^T:JYMK*Z!USIZ+32I(X]W:N\
M?J4@]1/N&W3VSB/XA$"^A1#KM^P.HZC&O:YVP$>H!6E=?=Q6JUV]N]H-/!>1
M%TS@82B80+OW;D.`AMOON`E`?AJCGM:\QGZ@/FC7!XJ*T6OO$W[>N_I\/7Y>
MOKU#]^GJ1Z5<->_X>*N6@KIAMU'81``$"F$-Q_2`;#H^6*/ZW-;XD!6>H.%#
M[BO,%"B(@`CN&WJ`AZ]>F_KJAFB!H'`N[`:GW!7C7@O(!`?3]7[M9%4BBUT5
M$T1-$31$T1-$31$T1-$31$T1-$31$T1-$31$T1-$31$T1-$31$T1-$31%4;Y
M6W5Z92/C\=XQB*Y.Y";<\L;*U"&M\L_@:O)S`4/(X)-)V9BX^7?QC`Z8F[UD
MFK@Y>FQ!WUW'0XLY792+(;F6W]KE.\:T.FM!QIV*=PG\8MN6W3BV(P'4<?9^
M"[,S'DCD16^*ESM/(G)^%^%5G0N4%%J9,QO(3N:VT?19"0C6R[6EL[75JVZ<
MY7LQEU6$6@$9(II+G*<B#@?PA%X2RQS\S!;6=O+D;80EVP5:W<*AN\T)]-M0
M7N[*FNE%J116\EPR.V+I6.'A^&@YJG[*O(B_6/CYY0>/DA<.0^1L4U[A;6<R
M8NL?+6AMZ3E\JEML4_5YPJ94("K2D]C]\XA4'D<K(QS1\D?W4@`R?:8/3</@
MK.'.X#*RP6,#ILB^%P@F#HJ`#ZSO=M=5P!J[44%%-8NQ'\^R-!O=<$&AKPUX
M^Q6#T=SGKCURAX=4:S\E+_FN!Y0X.S@[OE=MT15(JEU.S8JHU.MU4F,3P4%!
M,WE18))2JS%9HY>/Q<H]JBAQ5`1'C9;3'YC"W]V+1L<MM>PMW-+M6RN>"'5/
M,MTI3VT4<X6\XEJT!_\`(T/=751/QAESEY%<5N%/-VY\L<BWFSY6Y$X>Q?9L
M2KU^CP>)7V,,F96E<</64E$1U<+-R%W:-#)O4YKZY$??2*0J!";@;H<KC.GH
MNK,MTS960]&SMGT?5VYLC&@DCE05HX4T6UZ5DV[FM"QOE:7`UU'"@\%-[S3V
M1U4>&D/;&%>D[?(57D_Q:L$=4H8`&8M4C"9IJTBPK<7N)0"1G7;8C5$=PV45
M`?37,?XWB@O\]+93O$,,EI,PR'A'4#SG_:.?BM'`EO\`+D>[Z1$_[OQ777CB
MD[Y'\K.8=>Y<UB$A^<-W:8TS&:8BY!S*1#CC'8XOZ>AXQH#E^1+Z6%PI;$'\
M1,)MO]D[F#_6J=PK$,&?KVUMO['C;GI@N=TVRX?%)R(F;QG<>R4?2"-*&B7T
M;7P"6U!%D#3GQ[_'M49N3O+3)F'K1D#*6..7&<,[Y`QOGVG5^V8]QKA^-#A'
MCK'\QDN`J3[$N1K8K!N@_KYK6Y?M<R;*PNI1.:,7=LDEW)EF<'@K6]Q[(YL=
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MZ+/5W;0VDCJ>5S3N\H`U]B74-O;1SD-W.9<!FO8=Y_XT4>WG//-3K`?"S&%T
MS'D*H6#,.:.5&/,N\@<=XY7NV97N,>*EOL==;KUBK5:M6)A&7_(7M1B#Z5;Q
M2S=B0KA<J11,';)P]+8N;)Y#+V=K$^TM[2*012NVQA\HI0FK?*#JW6I/:LEM
M80S.D<T!P#!M!T&XUYT[AV\U8-XV,X9'R'8N2^,;1:LN97QQBFV4IW@[-F:,
M;3V-[[<:3=Z\Y?2U5M"4U5*:2RSF/;)&+-ADTF"(NFSA$3AW`(FY;K7%6^-M
M;"_M1:,NKEI$D43P]K"*4(\SB-P-:$Z<.14;>6QMPTNH">SM5K1=MNGS'_/K
MB6`"M#74J,K75:ZO1-$31$T1-$31$T1-$31$T1-$31$T1-$31$T1-$7K,8H&
M`!WWVW]>@`'7<?AJO+3BJ;R';`*KI/,?(S"V!HK^:96O\)5BG3,JTC5E_J9R
M1`I>[MCX9H"\@Y[O0#`F!-_^]K=L,-DLI,(+-CGDUU`--.-3P_U6=MK+,*-:
M:*N^4\Q.!7$HK%4.MS=J6*K[21I.>@:L=P(=1!%F],\>^@AL7M`W4=PUUUO_
M`(\SCVC<*'OU^*DH,/,[_1<IKOE)J#QP5"R8AN4.B*@)G=1DQ#S`)E'T4^G7
M+%KG#UWV$1^0#J^X_P`>W,+28[EA/92FOM*K-AIF\]%.'$O(W$&9D`"CVUNY
MD@3]Y:O2A%(NPMR_'OC'@)JK`00ZBE[A0^>N.OL/D<?)MN!5M*U&HUY5&E5&
MOM)(-"#3M7>)3E$^P=VX@([_``V#U']_3]>M*E!0\5K[R7;"*+VZHJIHBB7R
M=XXR>?K/Q=GX^SLZXGQ[Y'57.K]NZCUGREE95RNVB#4KC11)=`L>X=GL)5/?
M4!4I02$.W<=PF,3F!BXKR)P)%Q:F(<--QK]RW;.X;`V4._.PM]ZV/F;QKN7(
M>G8U6QK=8&CY2PGF6G9RQK)7*O+VNAO[33D)5DE"7:NLWL>]?PLBPF5@*LW6
M3=,W()KI#W$`!MZ8S-KAY",BR1UO<6\D+MAVN`DYM)TJ._17V%S#:B83L+V/
M810:$$TH1X<U"6U^-?D3EP_+6U9KY+TNQY"Y6\78'`"X5G&+Z`I.*'5?MTM8
MH\:='*V%[+2U62:RIRJ?S%<\BX>"94RI2""1>FQW6UCC),;;6=L\V^-O73>8
MU+]P`UY5T'`TT"WVY+',%KL@>!"XEWF-75^1KJINW[BY)W#.?$O+Z%M9,FO&
MJD9EJ,A"*1:RSBV*Y3HU:J#=XS=_4E1C"0ZL"9<Y%"*"J50"@(;;ZA;+/FVQ
ME[8;7$W<L,E>STW/=KS_`#::*)MY/2-=>*CY'>/&P,>%W&'BF.3(I:2X]YEQ
M)E1Y<OZ?>$96AMC/*CK(RT.UB!DCK1J\J@Y^E(J=50B2A>\2"`[!N7'59FZG
MR&=<TC^:V04)U`D`!KVTIJMYM^P7C[FAH^/;\M?@I.<QN.$ER@QE5:!%VEI3
MW%<S?A3+9Y-[&K2:3IKB7(D)>7,*1!!PV.DO-)1`MR+=PE1,?N$H[:A.G\Q_
M9[V:21A<R6"2.G_6`*^RBP8V[;8OD>17?$YO_E37X+CV>.+,MDKD)QEY+X]M
MK/'^2,#3EF@K,X>1BTDRR?@J_P`=]+=\72WT;MBNW4-)M6<K%.C"L1C(M._L
M,!QUN8G/_P`+%7V"FBWVUQL<*_ED::AXK[B->7>K+.[$5I)!)4M>:CAIWZ^Q
M5[37C`Y62>#)GB!&<I<95_C!$9$7R%0V[/$C]?+-I3<9A;9@0J.8[,O9!AY"
M)BY4SA,SV);MY*2."!UU"%(H0_16_6V*@S?]ZDMY),NZW+"TN'IM)8&;F"FF
MGY2::D]BW1?X\2>N6NW[:'44]E3^"G1$</9B.<^0=TM=XY4_-M\=Y$E)$.0#
M'P#@&#PN4DAW/#DFQ^JB!?B*(-_P*>WU$.[7-S9N*N+9'`XMLI"XGM)<UU>[
M04Y+6DR$=8?2J&04]]0?N"VOC?PLG,$Y9QQDE]?(NRMZ+P:Q%Q#7BFD*O&KR
M,KC*S.["ZN[=PJ\<$;QTN5U[9&1@%1(0W%0VMC.=0-RD$\38G`2WWK\>'UT%
M.T;N/<K+B_-RUS3H'O#_`($?\ET1%^-S(]`QCA-7%N:*W"<B..>?>0&9\;7J
M=J#Z2Q_.U_D/;+?+7;%-ZK367;32U;E*_946RCMFZ2<H/&*3A(OJ4=^]ZMCR
M5[,)K=XM)+.*$@&FL8`#QR+JBNOBKX[EM'->"8W"E/M]M`IN\<L?\D:NO?[1
MR4S)6\CV:[2D0O!TW'=5<5;%N+(.&CSL@B*B29>2MNFG\XX4,ZDGTBZ'W50(
M5%)(A=AYO(W.,F#66,$C&-YOU<XZ\2``*<!0+#-)"12-NT?-2C+Z:BH00S7C
M4K5/<M=951-$31$T1-$31$T1-$31$T1-$31$T1-$31$T1>M0QBEW+V]VX``&
MWV$1WZ;AOMU^.K6'=H[ZDH>2@5S/Y>)X%A?Z5I@,9+*$[''60%?91I5(Y0#)
MIS4@B'<#AX<3;M&QOSB`G,'8&P]1T]T^[)W`GF#A:AU#3@:<OQ4KC;#U_P!R
M;@#[UC%9AL4_<Y>6LUKFY2PV&3.=5[,RKQ5X]74,(CT44$022*4.TJ:8%3*7
MH!=>^XF#'V#&6]LT-(%*GCHNRBMXFQ[&M&BKHR@4OM*_B4*)!$2&*<P&(;<1
MW*;?<!'7<V%N^9HV%M%M,W,.@'N6UX5YTVS"UACZEDE^YM6+73DK47CI15Y.
M4Q)8?PR,<[,`N7\(U`0^I9*&$4B`8R?4.T<N0Z9@OK-PBC`O@.`X?C\5(&V9
M-#O`\U.7@KIH;(I"A$6&NS1@,*;26A9Z%?*D4$BR1%VCZ.D&JA!*DJF<#E$@
M@&P[#N(#KS!N/@BADL+Q@]3>=>?VT7-R!VL3VMIX?U5UO"GG`3)KYGB3*$DV
M_KD4-ZK9%03;$MZ)$Q/_`"YZ4FR"5C21)WE`O1RF`CL!P$!\AZEZ7?CW.O+4
M.-L#KSI7FN<O\<(VFXCKWC[U:`"@B43!L/Q*(;["'\=<2TG?L?Q4(RI=1R]V
MKE5:"&^L<D;9*!U="E4V_2.JO8'BAT^[O5:K3M#;X_KZ;_YM6B.D9C#G:\]*
M_)*E.WKON/KO\/X:R$5<'=@(]Z$U%$[>@!N/3X]-_P#-K$86EC6$FC?>J"H0
M2[_$0Z[]-OW=0'IK*177@0J.&X402[]-S!^K;^&J;3^H_#\%0M!TU3M#??\`
M9Z!_#0-IWN[>:NT[`O$4P'XF_9M_#2CJ$;CK\/!4H*$<B@)@&WXC=`V]0_AH
M&D4\Q-!W:^.BH6@@#L7D)0'57`N%`2->2O!(0"@'ITU4DE"2[BM0#8-M4`HK
M0*"BUU5531$T1-$31$T1-$31$T1-$31$T1-$31$T1-$7$+S:XZCTVSW*74!.
M,K,))33P>X"=R,>U4<>T4P^AUC$`A?\`6,&K[6WDN+]D,8J7$++9CU9&M/,K
M%TRI>)6^SECR!:'I!>SKIY/23I=8B;6/:*>X=-`RJABD;LHMB4J11'8")DW'
MIN.O>L/;-MK)EA;-_>K[*Z<UV\-KM(9$!MH%2[G+G7BR"E)"O4EF^R*]9J'1
M7DV#HD;6D5BB(&*VDEA64?B'^\.D7VP*&X"'KKU+!])32,%QD!MBI^4[C4\-
M!K3M/)=+;XZX`]1P;L\0MOXCXEY7>1>XOZ[A+"$>2L1+D&EPR=/6%[$X[J0N
M`,?Z>0G7#!<966%'\96#!)P\.3J8I"["./J/(X'HU@=>W)!</*UHW./_`&C7
MVG0<UAR%U:XMM;MW'].I^"X[Y$?&-RGX4M4K/DRM1=EQ>]<-V3?+&/E7DU3V
MDBX5(8K&S$<,64O6EUE?PHB\1*BN'0JF_36_T#_D+`]35AM9"W*$?1*-FG<2
M:'V*S#9W&7'[1<[>>1;VK?.$>89![AQ2JRCXZJM'FG,1$G44[3A`/D32#!,_
M<'<)&*HK(D]-B;!MTUCZHQ3/YQ<P4G+03V$Z\#S'>K\BR,7'D'E+0?FIEQ>5
M9&OR<9/0LFI'2T'(,Y>)D&Q^UPQD&"Y'+1TB.^P'15(`_(?CTUSDF,9/8OM;
MMK?.*=M3R\%'/BCD:6$:$+,RXVY<;9TP=C;**)2$7M578NY9!(-DVTZ@F#6:
M;$+U$I$Y)%3L`>O8(:^6\WCIL1EIK6;A&3SKIRI3CHN`NX3;SN8>`/P7>@B`
M;;_$=M:"U%CU><OS7E\:$9CC!''VB-LW\ZN1?M,,08V.D\DXNI1\G)#78JZ6
MF&BU4Y*<=RUB5^DA(A(Z(R+I%0QU"(HF]PBK7I'A\^X,Y>0+;+7,+S'7WC+=
M;0B$PWPIA8L_]#2"/1%VC#RZ>.;+C.H,'K$JA"G;-`D03ZE,Y.8HZ(N'3M8^
MY>\.U]H=D9934\O/%ZQVROU">J#YM+RF1HE2PRI(>,(Y6F$W-_HRSEPZ3]N7
M1DIN$;*#N_(1/8=$6:=6W\I(0,%)ST*>MS,A#Q;N7KZCYI*+0,J[9I+OX)61
M8"+*0/$NU#H"X0W26$G>4>T0T1;[[I0$H"!@$PF`-P#IV_/KTW^'ST1:^X7;
MNWZ?,0$/U^OIM\?EHBT]PO:)@W';?H`=1'81``WVZCMTT1!5*'4=P`0`=Q*.
MW4=MM_GUT1>0&`=MMQ`=NH!TZ_'?T'1%!CR#>0WC=XTL%-.0?*"4M\90)*ZQ
M6/(LM*JSNVSDC;)R)GY>-C4X]JJW20368UQV<5UU4D2&3`!,`F*`D4I:1=HK
M+.*ZCD*I.'T?#9.H$#<ZLZ?M_II)G%W2NM9V$</6Q%3@W?-VDDD91,%#=J@"
M4##MHBQ1+GX8/./`0]MMH?<"99^AA8VP6,(Q.FW,IC-8UH[D4F)%_P"T$Q4S
M>PB"??[9@*(;@4?31%4!X:<?^:CS!8IS)E.K>:/.V#T</Y)B<=NX:?3L=T6G
M5)&MHV`)1N[CK+`)1Z::;KV02,18=P$W<`;`)%,#R^*^47Q(>.?`41;/)KF'
M-^;,F<\U3NLSP"LM3)Q+%+_$(H-L6N`D)6><O8=I98!>3V%4I!5=;=NQ=M$6
M<M3'BSRGU1X[66<.G=9@G;E=P/<NJLO%-%5UG!P``%914XF,/Q$1'1%R8IRF
MV$H]P#OU#<0Z;;AN'0!ZZ(@F`!V$=O\`MZ?KT1`,`CV]=^WN]/4-]M]$7@99
M,AA*8W4`W'_)TW]`'J'[]$6HJD`0#?<1Z@`?+Y_H`1#;](Z(A52FZAOZ`/H(
M;;F$NWZP$-$052;`/40-^4?GT'TWV]=NGST15PT3RF<4\H<_\D^-6F25[D.2
MN(ZK)6^_-G%->QU&B8Z*85.26:HVMXNFC*OEFES8F*5!$Z8]Q@[]R&#1%8^"
MA1'8!Z[;_KZ[:(@J%`O<._ZMNOPWW^``&^B+4QNW;<!'??T#?;8!'K^[1$[R
M]?T?OWZ]-O41Z:(M0'?Y_M_3_IT1:Z(H4^0";<PO%F__`$QQ3_F[RLP3@P#M
MNSDK!'INBB/_`(3HD$!#X@.VI[I:(3Y^-A[?Q6SB_P#WCQ/W+"4Y]YAL5E7)
M@FHNG#&!8(MULBR+)44E)N2=)%70K`KI"5;^51J2A!=IE$"*KF`INA!`?JGI
M[$P6\XO)P"P&B].LH`^$2]FGN4).-W$)]R#SQB+!D:_3@5LF7>(K!YEPHF4L
M3'KG.[F)!`BGMD5>-8=FN=!(.JJQ2D`!WVUV&<ZJ@P6/GR4+08HH7:=Y%`MZ
MZO\`^-:/<>`:OTK,!8$Q=QJQ/3L,8=K#&I4.D1+:.B8]FF0%WC@J9?KIF7<]
MO?(S<NY$R[MRINHLJ<1$=M@#X2R6:O\`/Y"?(9-Y)+SQY`<AV`<A[]5Y%<3W
M-S=%\[B6G[47-[[1*ADNE67']^@(NVTJWP[Z`LU;G&R#N+F8F01.BY8ND52"
M0"G3-^$Y=CIF`#E$#@!@P075U:21W5N\Q7+'@@CDL$4\@N!+"Z@:>2_/OY*\
M8$?'ERBSK@F.E3R--7F(2Y8V>+K$7D?[/;'%K.H"+F1#\?\`-8(RJK%8Y@`R
M_P!.57_>;C]D8#J"3JW"VN3E%)F1"%W>Z.H)[ZDKU.SN&Y2V9<$4<`&GQ''Y
MKIZ-O3ZQ3456XHIW<C-R+2*8MT5>Y55R]5]A,I0#U`!-N/Z`'4G+;?MEWZ17
MW+-)`V-A<.*S:?%2X<M>/DY4U!$R50O"\<U#<13*5U!0SES[>XCMW/05..VP
M;G'7RS_D.%K,X)*:2BI]Y'P7GN9'[U1QH?M\59^8!$`V$`$#%$=PW`2[_B#]
MI=_VZX=0ZP*>),:GS+^\`Y6W?)R86"/XCQN1@QO'R116;P+K%$35L44]=B@H
M*B*01DA9G\FCT#L>*`J``<-]$6=Q9K#!TRNSUOLTLQ@ZU5X:4L5CG)9<C:,A
MH.&9+24Q+R#DX`5JRCV#5194_0I2$$1#1%6L3S9>)`Y`5_\`D1XHCWD[@'^U
MNN%V*;KL!1<@<H_L`?T:(JR/N!_+CF?@[P\X>\I^"&2<?6&O9RS4QC5K4I7(
M*_UG(&+W-&FK:@-=>R:#MNS2EU(Q,"/6X`L*9Q`@[[#HBXWPBR%]PEE/D/3.
M<'+=OCO&7`&PT6^Y)><0*`E7YS+D725,;V"=QG#LH)&KN;C.7B0EQCS&25ER
M.UU5.TZ")1!$A%T)A^[?<L^4FRY5RQ2;_3O$O@:MVQS`8LQAES"#IQDVT,D$
MDGK5]*I6NI2MADT2,UTR.Y+N9,%'0J)M6IRIF-HB[\\/7DOY\//(9R8\1ODY
M?42^Y[PK2U<BX^S1082/@$;A7&(55XNTDVT0PB(B193-9NK"4CW7T3)XCV+(
M.4SG`#$(H=9*\R7EXG?,1S=\8O$"F8ERO-,I-.M\>G-]KD37JO@&*B(2HV6V
MY4R//1;8DO<8N-BI19LB@\5.4SUTWV(J/:W5(NB^7?.?[BCPHY$PAG+G/F?!
M?*OB_D[(#2JVV$H]8KC>';K%21EY>L-WC:A4*V4ZQ'@DG2\.\2^J9+*-#@L4
MX`)#$7Q_=VO.=MMP91LB$M6+W'C%M=JP+-4"L@TBD\R_VWSM`R%*A*OG)8@T
ML-8/`N70B07YD04.0`3Z`.B*_7P=POEMBL7LW'D+NV!+/@Q[@G!8\6&.)F$2
MTL,+"C6RK>S=E(ZO0RZB_P#1YXQ,/>4<#]00X]PB;<2*[++7]U63/^7US_X<
MDM$6&U]DI_[2>;/_`%,53_#6/T1<X^]*>)QW"OA](JD.HE'<N6[Y4B1O;5.F
MUQM;5CD34[3>VH8I!`IMN@CHBV^VO/NIN1^$&7+#!5VXW<5,:+4)E>,5<2VK
M>$F<OOJ`TKR4I`DLLW<,>V:/D+K/P[9-46KF5CTQ.N!/9;C^`"*PKP7^9N<Y
MV>/C-?(3EV:NTC(G#R7M,3G^X1,5_(ZW)U.O4_\`KQO?"P153DB9/^2-W;=Z
MR1[4A>,1,D0A52IE(JSL$\ZO._YS[7E/)WCRNF(>`?"*B725I5)OF1JJTL]Y
MR!(QQ4W!4UWCZLW%Q*S:$8X;K2!(UNQBXU5P5N*SE4IC`1<NP9Y;_)OXU_(?
MB7Q\^9E[C'+..>0R\3#86Y8X^@F5>23>STO_`$Y`R[Y>(B:ZRG*XI:5D(Z70
M=QC24BE%TW!E%4-@,1<Q\Q/F(\CO#?RWX%X9<0*E2\OP6:L!UUS5,)S54B5)
M"SYFR%,9/J%>F%[J)6T['PE<E86.D7#8CE%LHV9+%54(14YR$7(U\G>?;@9X
M[_)ARJY[9JP_9\FT[&^-+GQD)4XRAVN&Q]8G5X2B<A1LI7HFGP,6Y8FB9MHD
MW(X,_1`R8G*?H(F(HX<6.6'W)WEYXMX]S-Q9MO&?B1CN&KJM6E<K7N)8%N?)
M#)=8<.&5RM]9B"T6Z1M,I'\SV9()H,FB9735;9=8.B9%VSXC?*IY0,XY8\@W
MBXY=*8]-Y`^.N(<D6'!>2W,%7XN%6O\`6_HZZRB+TS@(].HV*OISUIA99A)(
MM$OJHM17WB'_``&T14`<<:WYN5?/7RNAL49!XU-/)FUQK,J9IMD]'U]3$#^J
M#6\5J/T*TS4JKF,3D3,%(0"B5@D(&(IOL'<`D63=Y-?,7S&XBN.&/CFXXT2@
MYV\M7)#&F.5,CNR,T'V-,;V::C21DK-QD`V4B(]ZO8++%2KQJ1V+>-C(5F9V
MX(<ATR"11>Y`5[[JG@[AN>YDS',#CARDA\<0:U^R[QY@L=0KO^5TZ+0,_LPQ
M"2./:<ZGVL&R(H=S_*9!L\*@D=1#W>S82*PN$\UDCRK\$G([R2<=&D5C;/>&
M,77%&R4Z39M+A%8ZS33BQ*CYM]'+)_3S]8D8N9;OX\72>YVKDH*%%1,VB*KK
MAYS.^Y`\P7%RB9-XJVGC7Q9I5182M.N&>\@P<:2R\B<FP$@^&=D:37DJ-<8B
MIU"'3<-XXY6[!!/Z]NL(N#"!DDB*4_A#\JGD#MW/ODGXH_)^G5;+R`PS59FV
M53(]9AX2'<O@K#R`-+0LD>KM(V`LT#.UVU-):'DB-&KDJ!#IKE,90H)$66UW
MF^7Q^0^G[_S_`*/71%$GG/5W-HXNY029)J+NX*/C[:BBD7O.J2M2K*5>%[?B
M`1Z"IOV:G>E)A8YF!Q_417Q6S9G_`.IH[2%@HR]*<3\[,3SQ,ZKJ7E)"1<J'
M_,99V\57.;KOT,!@$/T;:^N8;YC8&4X%@*]0MYFQPM;6FBZGRI+7#`+.D9=Q
MZ_4@KI1<FT^UUN8`H&*PF(5VXDX]14AMBJ-E5V92*ICT.D<Q1]=;MLRQS)DQ
ME]K;S1/;[2*!;,<;+\FV<=""?<LZ+QQ^1?#7D"PQ$VVI2<;`Y5A&35IEG$[A
MTDG/U&R$2*F]>,69S%7DJG*.$S*LGJ0'3%,X$4$JA1#7R-UIT9F.B\R^UFC<
M['O<2Q]#1P/#7ANIQ''GST\WRV*N,9<N:X$Q$^5W(]Q/:/CQ7</,;FI@3A!B
M28RMG"ULHI-!NX3JE-;KHJW&_3Y$3G95ZK0HB9R\<.E@`JKCM^F:D$3JG*4-
M173_`$QD^I[Z/%8R-WI;AN=0D-':X\AQIVG1:6.QUQD;AK&-\3R`[3WK\WKD
M[S"O_*O/N1,[W1(C:?R/8?J6L&R.==M`Q2"2<?6JI'G+W"[")AVR*!!+N=<Q
M1/MN8=?=>`Z7@Z<P,.)#V^A&VKB:5W'ZM?%>K6\$>-M1;-X`55CG`GC/9XM^
MCF_*\<O%RJ3%0<?5&02!-\T!^W.DM9IML`B9BJ=NL(,FY@*<H"*IPWUP75F8
MLS`<5;']SU&NJ#R:==5#9&;?&&U_./FLQCQLU-U`<?GLRZ2,0]OO4_+-#&]%
MX]@FSA6[@H_$JRL>J8!^.OFWK6[;<98,K]#`/>:KB<P?_N:%86IW`3\(=QMR
M]`V^8;B&_3IZZXY1:P!V=QCO%C]VYDJU9M<EIV%><T=+!7+W+G^BKB),ZQD$
M]B)5U*.R@U(SC\S5)2(='$X$:_4`=02DZZ(L\R\5"L9+I%NQY;V))FH7VKS]
M.M40999N26K5GB74+.1PN&R[=RBG(1;Y5/W$CE,4#=Q3`.PZ(L'_`.X<\)WC
M-X2>+_*&?.-?'".QOEF!O^)(*%M1+S?IQ9NPLEP9QDRV!A8K/*1JQWL<J<H[
MI"H3\Q1+L.B*&/FE'_\`7$\$HE_*#W$1>@AL`A@BS!MT^0E$/UZ(LW3E_P`N
M83@9X[L@<NIVOJ6M#"F#*Y88RK)N?HRV2R/(Z$@JI"+.P`_T321LLNU376`A
MCI(=YB@)@+HBQSN$53^X%\MF!*KS>D/*)2^$6,<N2%D?8MQ#BC`=:M2S>J0]
M@DJ\@^DW$J9LZ:-EW\8X*W!V_D7:R"95E3D[P+HBB+XO\;YLQ#]U=F?&?(KD
M^KS!S'4.+-GC;GG-Q68ZGN9YPMCS$LC'P;NNQ3AVRCG-3B'J$<<I3B(BAN/7
M1%*7QE)(*?=A^7M<Z)#+(XJF"(*F`#'2]Q_Q]*L!#"&Y05`@;[?``#1%VA]Z
M-_\`;-PK_P!7M+_PQRI_#1%U[]T\8H>!OB$7N`!-E?BP)2[["8`P'D+?8/CM
MOHBRJ>&1BAP]XH%,("/_`--6"MQW`P;AB^J_$!$#;[[[AO\`/1%VOEK^ZK)G
M_+ZY_P##DEHBPVOLE/\`VD\V?^IBJ?X:Q^B+GOWH)2'X:\,R*!W)GYA,2'(/
MH<AL<6P#$']`E$=$67+5D4T,3UU%,A2)I8\B$B$```I2)UIL0I`*```%`I0#
M;TT1?G#>+:/LLGX(_N+FM23<JS']4F='3:$,HN:#CXUT_M/:0GXA(%7;/!/M
MZ$W'1%E)_:MSE(E/"QQM:U!9F9Y`VG,\-=D&QRBLUNHY1LLJ\2?D_.D\<0TF
MQ7*!OS(JD,'X1#1%4%]XTO#SF2_%!2ZD=-WFA_EG(2M?AV1@/.&B96Q8BAX,
MZ#=+_:@F^MJ()(#T[UDQ`NX@;8BYKSV3<%^[F\5!)$P*/T^/]5!Z?\)@,])#
M\F@6.`AN4=UP$0$/UAHBO0^XA`/_`(6N?_J'_I'"_EZ#_>71A`/U"/K^C1%Z
MOMV4$&_A9X!E0232!3%$\NH"90+WKKY-O:BRI]OS*'.81$1]=$5(G!DI0^\'
M\DH$#H;C_,F,.W0#FK'&?N$?V_'1%M'!H!__`##_`"*[E'^Y.S"([=-AIG'?
M8=_38=$6PKOV%8^]-(XRPJW8I6G"[5CB!S*[(MG;Z1XNI1]<2BCJ`5-5PX7C
MI5JD!1$1=%.3\X"&B+,XSG+5F'PAF&6N+IHSIT9BG(+^TO7RB:+1M7&51EUY
MEP[.<0(1LE')J"<1'M`-$7YRGB$BIQO]N5YZIPK)VC0YA9PUJ"RR:A&KA_%T
M>+&?!JJH`>\HU82,6"NW4![0'KHBRY?MF&R#?PG\+002(D"T-E!PJ!"@`'77
MS+D$ZRIN@;G4/U$=$50G'K_^S?EE_P!,;O\`P8P3HBS7-@^7^[W_`&_/]>B+
M;Y>,8S,5(0\B@1W&RS%U&2#50`$CED^0.V=-S@8!`Q5D%3%']`ZJR26&Y9*S
M0@U'B-0LC'&.02#Z@5B#<CN*\EQ]RS9Z$]9&/"`\7F*9*&34*E,5*07%2,7*
ML*()&7CBJ`V=%*(F35)OV@`AKZ0Z>SS,Q8QRD@.:-I'81Q^:[3'Y%US;[YMH
MD#J`#L%*=JAOGO`SK*.)K=4HA!(LXNS3E*]N(AW34,H$A'M?<*`"'UQT1;[]
M.JORZ:Z6POWV>28^<C^-0Z\ZGA\5)6]U-%,'QT5*.#+M?L19#;V.FV2V8YOU
M<=+M"3%=EY&MV*'=HF%&08BO'+H+)$!P42K('$R1^W\11`=M>F9?'Q9[&`7L
M44T!;3S#6A]JZ*\]"_M@V0#=]O%3*M<2\Y/VX<A9VO&1LDW-RW(R4L%FNDQ*
MNT621=DF;$CY5PUBV)>[?V&R:21C=1*(ZYRT_B].67\+$6\$45>(:=VIKQJH
MZ&./'1EMN!3O^P4N<&\?\.T-\VFZ_28Q2<(8#HS4R9::D&IP`@^XS/('51:'
M$?BF0HA\-M<]?YW)74AMG/`93E4'GWK1N+N5TAW4I16EX;H=ARE<("B5EN+B
M8L;@J'NBF!DF;8?QR,J_5``.1G'LRF,<V_P*3XAK@\U>LQL#[BXVF,<_S5Y<
M^?@H7)W0BMO48090X:'@LH#'U*A\=4JM4B#3!.*J\2UB&NW:`J_3H@1=RIV@
M`>\[<=ZI_P#7..O`[VZEO[]]T^E2:_T]@7)SS/N9O6?]9[."YH8H&#8?]'^D
M!#6%8%5-Y6/$1QC\LN(XJA9K;R50R'1U'[W$F;Z>W9#=\?/I`B7U[$4W:8M[
M)49=5ND9[%N3$(<Z9545$5B@IHBHJQ_XRON>N',&TQ1Q?\G>`LMX=@VY8NG&
MS?&OI*QUZ&;I_3L&";>]8QR(]CT&C8I0302F7:">VQ0`H`&B+>&/V\G/OG5=
M:M;O-5Y*)[-F/*M*MYQMQQP+]?`4ETNB8IG#=Q++0E.@(8JY!%)1PR@59`$C
M&*DZ2$P"4BGMYD?"5(^0/B!Q3XC\6[?C'CG2>+V0(N?K459XJQRE?:4J"HLG
M3H:L0I(0';XCIL5^0PJ.3F]PI#"8PF-OHBM<Y1<1*+R]X9Y&X8Y6?O$*IE+$
M[3',S/0::0OX>0CV3%:'M4*D[*HD9Y"V");2#=-7\*GL`0PAN.B+&BXJ>)'[
MAO@O1E>)_&/R2\6(KBDQE)O^CK)<L;2=IR'08J??N)"15JU:FZ#,#$OU'3Q1
MU]!_/EF*;I4YDSD[M]$4F/'I]OWD?@EY293GJ^Y4GSW7+;AJT5W(#O(K284S
M-=\PY`9UYQ>;Y(/2$-764#)V>.<.&K,JZRK1HHFB(F$O=HBE%Q*\2F4^//F4
MYM^2^?RK0)_'?*>GOJY6\<1,;84+K6'#IWC9PDXFWSM$L&NBFG25@,"!SF$5
MR"&P`.B+EWG@\6F2O+7Q3H/'G%^3J1BF;I^;(#*;RP7R-G).)>1L54KE758Q
MNE7TUGB;XZ]C35*8Q!3[4Q`1`1#1%Z_+%XH;!Y'/&=2^%\1DFO4+)F+UL0VB
MEW&:92+BFR-OQC4G=.=QLX@Q*I--*]88V9>@1=)-9=NJ**@IG`IBB1;)XA.-
M_F*XWH?V=>1/D'QXRS@C'F(*_C7"=<Q/&KGN3*1K+J.8QDS;;,ZQY4'<LP:T
M]@+$@*KJJ'-V&.3N`3'(KLKM"K66G6NMMEDV[FQ5N=@6[A8IC)(+R\6[8)+J
MD(('.DB=<#&`OXA*`[==$5%_@*\164O$)A7/F,,I99H66Y3+N58C(4;)T"*L
M$4QB&474VL`HQ?IV))!=5VNN@*A13`2`3X[Z(N1>=KQ2Y/\`+5@O!.*<7Y2H
MN+)+$^;V^5I*6O49/R;"5C$:Q,U_^4L$X!)5PF_%:3!3N4`$^TFP[".X$5U\
M5"KL:='5PZR1W+*MM(0[@@']@Z[:+38&7(7<5/9.H3N`!_%VC\]$5#OA4\-]
MR\:6*>9&*L^9`QGG*O\`*G)`6IQ%52&GF\0G5'==FJ].UBR-+$BD9]_-&DP*
M9BH@8@IB8.[<0T15TU_P*>4'QT94R=/^%WGU0<>8(RQ/+6"2X_<CX)S-Q5<?
M',*;9-NX/3;_``%C6A&AP;-Y(&,9(F:I$27%<2]PD4E.$W@4SF[YHUOR-^6K
MEBUYE\F\>E9.<24FIQ+N+Q!C66BEE5H*51+(1D`#\E7=KJNHM@SB8MBD^/\`
M5J@X5*4=$4E>2WB)REG'S;<1_*/#Y;Q_"8WXY8]BZ=.XODXNQ+7BQ.V37++=
M5Y$R+9,8)!NJ.1$!*"QBB'TRG01,&B*P/R=\2[3SKX&<DN)-*M4!2+1FZEQ]
M7A[7:&T@[K\(X:6RNV%1U)MHHBLBJ@=O#'3`$BF,!SE';;?1%X^,/B;:>"O`
MKC;Q+NMJ@;O:<(TJ0K$Q:JPU?LH":<.[78K"FXC&\J4C]-!-O-$2'W0*83IF
M'8`$`T15^\>?$9E7#GF[Y4>5*5RSCZ8QKG_&[^D0>+HR,L25X@73R(Q1'I/I
M:3=)%@%FR:N/5S&*D<3"#E/8/PFW(H)<R/"KY*:OY5\@^4;Q=\E,#T2XYDKR
M$+=JCG2,E54XH7%1@:M8V0-$J?<H*S5R9)6F;U,%4FKQFY+^$3@4#"12)Y\>
M"W)GD-PSQ0S!D/D9%X=\KG&NFUQJMRJQ7!NV-#M]FBY`U@.P>P\.A6IF+AH>
MR.%'4-(-$F[J/.JN`H+)*F3`BAYD7Q*_<5<R,?#QAYE>4O`\7QFE4&D1D%_B
M2F/%<C9'K+=<GOQE@-'8VQNXFBO4DRBND[E2-ES`'OD6`!*8BN'M'B*QO1_$
M)E?Q6\5I)A0XZ[XCL=%89!O:2\FO,W>UNT)"P9%OJD&U0</Y.>>-Q.J#9+M0
M3!)%(H))%*!%('Q0<,;=X^>`V!.(U[N-;OUIQ''6UE)VVHM9-E7Y8;#>K-:V
MRC!M,)I2*8(-)PB1_<*&ZA#"`;"&B*#F-/$?E.B>=;,_EF>Y8H+_`!EDW%"V
M/(W%+6*L*=\C7:U!Q_4RR#V343&O':$>TI54>Q3O]M8H=H"`Z(K\-U/DG^7;
M\QO3Y?E_-HB]X!MJT%Q^L"JJ351]Y#\>*7R&J8P%B1!C.1Q5'%6M3=%)20@G
MZ@;&``4#M=1KGM`'#<_X%2ATV,`"$CBLY/B;T-C+O3-"1R/]?L5L6\[X34'R
M5U5"F7^,N1L%R"J-UA%#PA53DC[E#MEWM;=H@`D14*]11#^5JE(.XMW0$,0?
MRB;7LV.ZAM,RUL,3_P!X"M#H06_;VKKK'(VDI$+2[U=IXB@T[U4SR3X1U3*$
MVKDS',A%UC(:P%4F63D%OZ9NRR:7ME7=K-Q!2(EQ3`-W`=R2FP`H'37I6&ZI
MO+=G\>[J;<#\HW%2UG=>E+69P]/WJ,E<QQ?Z([(PME5E8PZ"_;]05N+N.6$H
M?F;2+/WF:I!#T'N#?4Q>3PS-JUS0#VFBW9IHW@AIXJRKB_@3+F<9)E%8VI4O
M,IE53(^G7#,["K0Y##VG<RUA=`BU1`B9A[$T3G7./Y2#K@<]EL9AV&6ZE9ZQ
M&FT[B1RI3FN>R%_;6SO1>3ZI%=!44/?[%E$\4>)U:XUULPG70L609ELD2R6K
MV!22(F0>\D-!HJ]RK2);G'U$?=<&#O4Z[`'S_F\_>9>Z+3N%G6M">?*JY&YN
M73N.O[=5+L0W#;4*=PU:!5:H-%KJJHFB)HB;?QT1:;!\@T1:Z(M-@^0>N_I\
M?G^O1%KHB:(FB)M_D]-$3;X?#1$T1-$31$T1-@^7QW_;\_UZ(FB)HB;!\M$3
M1$T1-$31$T1-$31$VVZ!T#1%IL'R#1%KHB:(M!$`'6-TC&NH?JHJT7PO&#-^
MU69OVR#UFX(9)PU>(I.6SA,^X&37;K$.BJ00'J!BB`_'5!/*PB1K_3'ZJT/O
M5['.:ZK20Y1PM/#GC+<'"KR9Q%6$GBY_<6=0A7U=55./J)P@7D<D(#\NW;4W
M;Y_-PMI!<NV^P_.JV!=7/ZBMMKW"+BS6W:;YAB"ONG2)BG2/,NI>>(F8@[@/
ML2\@\;G_`/,0VKI^I<_,W]Z=U/$?<`J&_N^&YRDW%P\3!L$8R&C6,3&M0`K=
MA&-&[!FW*7;8$6S1)%!,`V^!0U#&>6Z?ZDDCG.X:FOS6!SWRNW2$EW>MS#UW
M#TV]=4J\/VD>7M5G*B\M7*B:(FB)HB:(FB)HB:(FB)HB:(FB)HB:(FB)HB:(
;FB)HB:(FB)HB:(FB)HB:(FB)HB:(FB)HB__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.5
<SEQUENCE>5
<FILENAME>v153517_ex4-5.htm
<TEXT>
<html>
  <head>
    <title>Unassociated Document</title>
    <!--Licensed to: Vintage Filings-->
    <!--Document Created using EDGARizer 4.0.6.4-->
    <!--Copyright 1995 - 2008 EDGARfilings, Ltd., an IEC company. All rights reserved-->
    </head>
    <body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
4.5</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-VARIANT: small-caps">EXECUTION
COPY&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
    <div>
      <hr style="MARGIN-TOP: -5px; COLOR: #000000" align="left" noshade size="2" width="100%">
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="right">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="right">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ASSET
PURCHASE AGREEMENT</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By and
among:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-VARIANT: small-caps">Intelli-Site
Inc.,</font><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Integrated
Security Systems, Inc.,</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-VARIANT: small-caps">VUANCE,
Inc.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">And</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-VARIANT: small-caps">VUANCE,
Ltd.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Dated as
of March 6, 2009</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font>

      <div>
        <hr style="COLOR: black" align="center" noshade size="1" width="25%">
      </div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div>
        <hr style="MARGIN-TOP: -10px; COLOR: #000000" align="left" noshade size="2" width="100%">
      </div>
      <div>
        <div>
          <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
            <div id="FTR">
              <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
            </div>
            <div id="PN" style="PAGE-BREAK-AFTER: always">
              <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1</font></div>
              <div style="WIDTH: 100%; TEXT-ALIGN: center">
                <hr style="COLOR: black" noshade size="2">
              </div>
            </div>
            <div id="HDR">
              <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ASSET
PURCHASE AGREEMENT</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-VARIANT: small-caps">This Asset
Purchase Agreement</font> is entered into as of March 6, 2009, by and among
<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-VARIANT: small-caps">Intelli-Site
Inc.</font>, a Texas corporation (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Seller</font>&#8221;),
Integrated Security Systems, Inc., a Delaware corporation and the holder of all
the issued and outstanding stock of the Seller (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Stockholder</font>&#8221;),
<font style="DISPLAY: inline; FONT-WEIGHT: bold">VUANCE Ltd.</font>, an Israeli
company (&#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">VUANCE</font>&#8221;),
and <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-VARIANT: small-caps">VUANCE,
Inc</font>., a Delaware corporation and subsidiary of VUANCE (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Purchaser</font>&#8221;).&#160;&#160;Certain
capitalized terms used in this Agreement are defined in <font style="DISPLAY: inline; FONT-WEIGHT: bold">Exhibit&#160;A</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-VARIANT: small-caps">Recitals</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">WHEREAS,</font> the Seller is engaged
in the business of developing, manufacturing and marketing software relating to
integrated security building management and providing customer support and
training relating to such products (collectively, the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Business</font>&#8221;);</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="FONT-WEIGHT: bold">WHEREAS,</font><font style="DISPLAY: inline; FONT-WEIGHT: bold"> <font style="FONT-WEIGHT: normal">the Purchaser wishes to purchase or acquire from the
Seller, and the Seller wishes to sell, assign and transfer to the Purchaser
substantially all the assets of the Business, for the purchase price and upon
the terms and subject to the conditions set forth in this
Agreement;</font></font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="FONT-WEIGHT: bold">WHEREAS,</font> <font style="DISPLAY: inline; FONT-WEIGHT: normal">the Stockholder owns all of the
issued and outstanding shares of the capital stock of the
Seller;</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">WHEREAS, </font>the Seller&#8217;s board of
directors and the Stockholder have approved and declared it to be advisable and
in the best interest of the Seller to sell substantially all of the assets of
the Seller used in or relating to the Business to the Purchaser upon the terms
and subject to the conditions set forth herein;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">NOW, THEREFORE</font>, in
consideration of the premises and the initial covenants, representations and
warranties contained herein, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby mutually acknowledged, the parties
to this Agreement, intending to be legally bound, agree as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-VARIANT: small-caps">Agreement</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">1.</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Sale
      of Assets; Related Transactions.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">1.1</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Sale of Assets.</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Purchased
Assets</font>.&#160;&#160;Upon the terms and subject to the conditions set forth
in this Agreement, at the Closing, the Seller shall sell, assign, transfer,
convey and deliver to the Purchaser pursuant to a Bill of Sale (the <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">&#8220;Bill of
Sale&#8221;</font>) in substantially the form of <font style="DISPLAY: inline; FONT-WEIGHT: bold">Exhibit B</font> attached hereto, and
the Purchaser agrees to purchase from the Seller, good and valid title to the
Assets, free of any Encumbrances, on the terms and subject to the conditions set
forth in this Agreement.&#160;&#160;For purposes of this Agreement, &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Assets</font>&#8221;
shall mean and include: (a)&#160;all of the properties, rights, interests and
other tangible and intangible assets of the Seller relating to the Business
(other than the Excluded Assets) that are described below (wherever located and
whether or not required to be reflected on a balance sheet prepared in
accordance with U.S. GAAP).&#160;&#160;Without limiting the generality of the
foregoing, the Assets shall include:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;&#160;&#160;all United States and foreign patents, patent
applications, trademarks (whether registered or unregistered), service marks,
trade names, brand names, logos, copyrights and any applications therefore and
any other proprietary rights, including, without limitation, software code,
know-how, inventions, discoveries and improvements, test data, shop rights,
processes, methods and formulae, trade secrets, product drawings,
specifications, designs and other technical information, owned by or licensed to
the Seller relating exclusively to the Business, including the Intellectual
Property and Intellectual Property Rights identified on <font style="DISPLAY: inline; FONT-WEIGHT: bold">Schedule 1.1(a)(i)</font> attached
hereto, (collectively, the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Intellectual
Property Assets</font>&#8221;);</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;all
inventories of the Seller relating exclusively to the Business, including,
without limitation, finished goods, work-in process, raw materials, supplies and
other materials;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;all
books and records relating to the Business (other than those required by law to
be retained by the Seller, copies of which will be made available to the
Purchaser) including, without limitation, customer lists, sales records, price
lists and catalogues, sales literature, advertising material, manufacturing
data, production records, employee manuals, personnel records, supply records,
inventory records and correspondence files (together with, in the case of any
such information which is stored electronically, the media on which the same is
stored);</font></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;all
of the Seller&#8217;s rights and interests under the contracts pertaining to the
Business (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Contract</font><font style="DISPLAY: inline; FONT-WEIGHT: bold">s</font>&#8221;) that are listed on <font style="DISPLAY: inline; FONT-WEIGHT: bold">Schedule 1.1(a)(iv)</font> attached
hereto, together with all of the Seller&#8217;s claims or rights of action now
existing or hereinafter arising thereunder, including, without limitation, all
rights and interests under purchase orders, license agreements, maintenance
agreements and development agreements as listed on <font style="DISPLAY: inline; FONT-WEIGHT: bold">Schedule 1.1(a)(iv)</font> attached
hereto;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;&#160;all equipment, furniture, and other items of tangible personal
property owned by the Seller and exclusively used or held for use in, or for the
benefit of, the Business, except to the extent otherwise specified on <font style="DISPLAY: inline; FONT-WEIGHT: bold">Schedule 1.1(a)(v)</font> attached
hereto (collectively, the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Equipment</font>&#8221;);</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;all
of the Seller&#8217;s rights and interests under the personal property leases
identified on <font style="DISPLAY: inline; FONT-WEIGHT: bold">Schedule
1.1(a)(vi)</font>;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(vii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;all
franchises, approvals, permits, orders, certificates, variances and product
licenses and license applications, permits and other Governmental Authorizations
held by the Seller and used and/or related to the Business, including the
Governmental Authorizations identified in Part&#160;2.10 of the Disclosure
Schedule (collectively, the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Licenses and
Permits</font>&#8221;);</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(viii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;all
claims relating to the Business (including (i) claims for past infringement or
misappropriation of Intellectual Property or Intellectual Property Rights
relating to the Intellectual Property Assets and (ii) rights to insurance
proceeds and rights under and pursuant to all warranties, representations and
guarantees made by suppliers of products, materials or equipment, or components
thereof) and causes of action of the Seller against other Persons relating to
the Business (regardless of whether or not such claims and causes of action have
been asserted by the Seller), and all rights of indemnity, warranty rights,
rights of contribution, rights to refunds, rights of reimbursement and other
rights of recovery possessed by the Seller relating to the Business (regardless
of whether such rights are currently exercisable) together with any and all
liens granted or otherwise available to the Seller as security for collection of
any of the foregoing;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(ix)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;except
as set forth in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 1.1(b)(iii)</font>,
any and all Receivables;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(x)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
all trucks, cars and other vehicles owned or held by the Seller at the Closing
Date (as defined below) for use in conduct of the Business;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(xi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
goodwill of the Seller relating to the Business together with the exclusive
right for the Purchaser to represent itself as carrying on the Business in
succession to the Seller and the right to use any words indicating that the
Business is so carried on;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(xii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;all
prepaid expenses of the Seller;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 81pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(xiii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;all
securities owned legally or beneficially by the Seller including, without
limitation, capital stock and all other equity securities of the
Seller;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 81pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(xiv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Seller&#8217;s
equity interest related to the joint venture established by that certain
Operating Agreement of Surelock Seals, LLC dated as of June 30, 2007 (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Joint
Venture</font>&#8221;), including any and all documents, books and records, contracts,
intellectual property or other assets related to the Joint Venture, all as set
forth on <font style="DISPLAY: inline; FONT-WEIGHT: bold">Schedule
1.1(a)(xiv)</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 81pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(xv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;all
of the Seller&#8217;s Information Systems and other Hardware, Software and Databases,
including, without limitation, all rights under licenses and other agreements or
instruments related thereto;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 81pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(xvi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;to
extent transferable, all Approvals held or used by the Seller in connection
with, or required for or useful for, the Business; and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 81pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(xvii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;all
Working Capital of the Seller as of the Closing Date.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Excluded
Assets</font>.&#160;&#160;Notwithstanding the provisions of <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 1.1(a)</font>, the
Assets shall not include the following items of the Seller which are not to be
acquired by the Purchaser hereunder (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Excluded
Assets</font>&#8221;):</font></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
Seller&#8217;s cash on hand on the Closing Date, including all cash equivalents and
deposits, all interest payable in connection with any such items and rights in
and to bank accounts, marketable and other securities and similar investments of
the Seller as of the Closing;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
Equipment set forth on <font style="DISPLAY: inline; FONT-WEIGHT: bold">Schedule
1.1(a)(v)</font>; and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;the Seller&#8217;s Receivables set forth on <font style="DISPLAY: inline; FONT-WEIGHT: bold">Schedule 1.1(b)(iii),</font> existing
as the Closing Date that are at least 90 days in arrears.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">1.2</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Assumption
of Liabilities.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Except
as provided in the following paragraph (b), the Purchaser will assume at the
Closing, and agrees to timely pay, all liabilities of the Seller of any nature
whatsoever (fixed or contingent, known or unknown), including but not limited to
(i) all of the Seller&#8217;s obligations under the Contracts that arise out of or
relate to the period after the Closing Date, (ii) all warranty claims against
the Seller for products manufactured prior to the Closing Date, (iii) all
liabilities related to the Joint Venture as set forth in <font style="DISPLAY: inline; FONT-WEIGHT: bold">Schedule 1.2(a)</font>, and (iv) all
nondelinquent earned but unpaid compensation of any kind payable after the
Closing Date to any employees of the Seller that are subsequently hired by the
Purchaser, including salaries, commission payments, and paid time off, as set
forth on <font style="DISPLAY: inline; FONT-WEIGHT: bold">Schedule 1.2(a)</font>
(all such liabilities are referred to as the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Assumed
Liabilities</font>&#8221;). Notwithstanding the foregoing, there are no current
material warranty claims, and, to the Seller&#8217;s Knowledge, any expected warranty
claims against the Seller.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Notwithstanding
the foregoing paragraph (a), the Seller shall remain responsible for the
following (collectively, the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Retained
Liabilities</font>&#8221;), none of which shall be a part of the Assumed
Liabilities:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;all
of the Seller&#8217;s accounts payable existing as of the Closing Date that are at
least 90 days in arrears, as set forth on <font style="DISPLAY: inline; FONT-WEIGHT: bold">Schedule 1.2(b)</font>;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any
indebtedness of the Seller to any of the Seller&#8217;s Affiliates;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any
Liability of any Person other than the Seller;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any
Liability of the Seller arising out of or relating to the execution, delivery or
performance of any of the Transactional Agreements;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any
Liability of the Seller arising from or relating to any action taken by the
Seller, or any failure on the part of the Seller to take any action, at any time
after the Closing Date;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any
Liability of the Seller arising from or relating to any Proceeding against the
Seller relating to any occurrence or event happening prior to the
Closing;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(vii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any
Liability of the Seller for the payment of any Tax (except as set forth in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section
1.4</font>);</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(viii)</font>&#160;&#160;&#160;&#160;&#160;&#160;any
Liability of the Seller to any employee or former employee of the Seller under
or with respect to any Seller Employee Plan, profit sharing plan or dental plan
or for severance pay not included in <font style="DISPLAY: inline; FONT-WEIGHT: bold">Schedule 1.2(a)</font>;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(ix)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
any Liability of the Seller to any shareholder or any other Related
Party;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(x)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any
Liability under any Contract, if the Seller shall not have obtained, prior to
the Closing Date, any Consent required to be obtained from any Person with
respect to the assignment or delegation to the Purchaser of any rights or
obligations under such Contract;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(xi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any
Liability that is inconsistent with or constitutes an inaccuracy in, or that
arises or exists by virtue of any Breach of, (x)&#160;any representation or
warranty made by the Seller in any of the Transactional Agreements, or
(y)&#160;any covenant or obligation of the Seller contained in any of the
Transactional Agreements; and</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(xii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;all
real property leases of the Seller.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">1.3</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Purchase Price.</font> <font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>As consideration for the
sale of the Assets to the Purchaser (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Purchase
Price</font>&#8221;):</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
Purchaser shall pay to the Seller, in cash, a total of Two Hundred Sixty-Two
Thousand Dollars ($262,000.00) payable in twenty-five (25) consecutive, monthly
installments.&#160;&#160;The first twelve (12) monthly installments shall be
equal to Eleven Thousand Dollars ($11,000.00) each and thereafter, the remaining
thirteen (13) monthly installments shall be equal to Ten Thousand Dollars
($10,000) each (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Cash
Consideration</font>&#8221;).&#160;&#160;The first monthly installment shall commence
on the Closing Date.&#160;&#160;Notwithstanding the foregoing, in the event that
(i) the actual Working Capital is less than $40,000, then the Cash Consideration
shall be reduced by an amount equal to $40,000 less the actual Working Capital,
or (ii) the actual Working Capital is more than $50,000, then the Cash
Consideration shall be increased by an amount equal to the actual Working
Capital less $50,000;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Within 60 days after the Closing Date, the Purchaser shall calculate (and
deliver to the Seller) the actual Working Capital of the Seller that existed on
the Closing Date.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;If
within 60 days following delivery to the Seller of the calculation of the actual
Working Capital the Seller has not provided to the Purchaser written notice
objecting to the Purchaser&#8217;s calculation of the actual Working Capital (which
notice shall state the basis of the Seller&#8217;s objection), then the Purchaser&#8217;s
calculation shall be final.&#160;&#160;If the Seller timely gives the Purchaser
such notice of objection, and if the Seller and the Purchaser fail to resolve
the issues outstanding with respect to the calculation of the actual Working
Capital within 30 days of the Purchaser&#8217;s receipt of the Seller&#8217;s objection
notice, then the Seller and the Purchaser shall submit the issues remaining in
dispute to an independent public accounting firm to be mutually agreed upon, for
calculation of the actual Working Capital, using the same accounting principles
and practices referred to above.&#160;&#160;The accounting firm&#8217;s determination
shall be final and binding.&#160;&#160;The parties shall cooperate with such
accounting firm in making its determination, and shall supply such working
papers and other documentation as may be reasonably required by such accounting
firm.&#160;&#160;The Seller and the Purchaser will each bear 50% of the fees and
costs of the accounting firm for such determination.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
Purchaser will issue to the Stockholder as soon as practicable after the
Closing, a number of ordinary shares of VUANCE (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Consideration
Shares</font>&#8221;) equal to the quotient obtained by dividing (a) $250,000.00, by
(b) the weighted average closing price of VUANCE&#8217;s ordinary shares for the
fifteen (15) trading days preceding the Closing Date (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Weighted
Average</font>&#8221;), provided that in no event shall the divisor be smaller than
$1.25 or greater than $2.00.&#160;&#160;As an example, and for avoidance of
doubt, in the event that the Weighted Average is $0.75, the Stockholder shall
receive Consideration Shares equal to the quotient obtained by dividing
$250,000.00 by $1.25, equaling 200,000 shares;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
Purchaser will pay to the Stockholder, in royalty payments, an amount of up to
Six Hundred Thousand Dollars ($600,000.00) in the aggregate (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Royalty
Payments</font>&#8221;). The Royalty Payments shall be equal to six percent (6%) of
the Net Revenues actually received by the Purchaser during the period commencing
on the Closing Date and ending on the third (3<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: super">rd</font>)
anniversary thereof (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Royalty
Period</font>&#8221;).&#160;&#160;Notwithstanding the foregoing, the last Royalty
Payment of the Royalty Period shall include Royalty Payments for any Royalty
Product sold during the Royalty Period for which payment has not yet been
received by the Purchaser.&#160;&#160;The Royalty Payments will be paid on a
quarterly basis, within thirty (30) days of the close of each quarter, and will
be made 50% in cash and 50% in VUANCE&#8217;s ordinary shares (&#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Royalty
Shares</font>&#8221;).&#160;&#160;The number of Royalty Shares to be issued to the
Stockholder shall be calculated on the basis of the weighted average closing
price of VUANCE&#8217;s ordinary shares for the fifteen (15) trading days preceding
the quarterly payment, subject to a minimum of $1.25.&#160;&#160;The Royalty
Shares will be subject to the same rights and restrictions as the Consideration
Shares.&#160;&#160;During the Royalty Period and for any period of time
thereafter until the Purchaser has received payment for all Royalty Product sold
during the Royalty Period, the Purchaser shall supply the Stockholder with
quarterly reports of invoices and cash receipts that relate directly to the
Royalty Payments.&#160;&#160;During the Royalty Period and for one (1) year
following the Royalty Period, (i) the Purchaser shall maintain complete and
accurate records at its principal place of business relating to the performance
of its obligations hereunder and all of the Purchaser&#8217;s sales, distribution and
sales activity relating to the Royalty Products, and (ii) the Stockholder or its
designated representative shall have the right, upon fifteen (15) days written
notice and during normal business hours, to inspect such records to insure
compliance with the Purchaser&#8217;s obligations under this Section.&#160;&#160;In
the event such audit reveals a discrepancy between the Royalty Payments paid to
the Stockholder and the fees actually received by the Stockholder (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Discrepancy</font>&#8221;),
then, Stockholder shall provide Purchaser with written notice of such
Discrepancy and Purchaser shall have thirty (30) days to cure such Discrepancy
from the date the written notice is received.&#160;&#160;Notwithstanding the
foregoing, in the event that any audit performed under this section reveals
underpayments exceeding fifteen percent (15%) of the Royalty Payment for such
quarterly period, the Purchaser shall bear the full cost of such
audit.&#160;&#160;If the audit performed under this section reveals
underpayments less than fifteen percent (15%) of the Royalty Payment for such
quarterly period, the Stockholder shall bear the full cost of such
audit.</font></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Collection of
Receivables.</font>&#160;&#160;Except as set forth in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 1.2(b)</font>, the
Seller agrees that, from and after the Closing Date, the Purchaser shall have
the right and authority to collect for its own account the Receivables, subject
to the provisions hereof.&#160;&#160;If the Seller shall receive payment in
respect of Receivables that are included in the Assets, then the Seller shall
forward such payment to the Purchaser within five (5) business days of receipt
thereof.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">License Back.</font>&#160;&#160;The
Purchaser hereby grants the Seller a royalty-free, worldwide, irrevocable,
sublicensable, nonexclusive license to make, have made, use, sell, have sold,
import, reproduce, distribute, display, perform, create derivative work of, and
digitally transmit the Intellectual Property Assets.&#160;&#160;The Seller may
retain a copy of, and the Purchaser agrees to make available for copying by the
Seller during the Royalty Period, any Asset that the Seller believes is
necessary to fully exercise this license.&#160;&#160;The Seller agrees not to
exercise this license unless and until (i) the Purchaser files or has filed
against it a petition in bankruptcy, has a receiver appointed to handle its
assets or affairs or admits that it is insolvent, or (ii) the Purchaser fails to
timely pay the Cash Consideration when and if due (a &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Failure of
Payment</font>&#8221;).&#160;&#160;Notwithstanding the foregoing, in the event a
Failure of Payment occurs, then the Seller shall provide the Purchaser with
written notice of such Failure of Payment and the Purchaser shall have forty
five (45) days to cure such Failure of Payment from the date the written notice
is received (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Cure
Period</font>&#8221;).&#160;&#160;If the Purchaser timely makes all payments due under
this Agreement or within the Cure Period specified in this <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 1.3(e)</font>, this
license will expire and be of no further force or effect, and any copy of any
Asset that was made by the Seller pursuant to this paragraph shall immediately
be returned to the Purchaser or destroyed, in the sole discretion of the
Purchaser.&#160;&#160;If the Seller exercises the license in accordance with
this Agreement, the Purchaser hereby agrees to (i) cease using the Intellectual
Property Assets, (ii) not transfer the Intellectual Property Assets to any other
Person and (iii) keep all Intellectual Property Assets
confidential.&#160;&#160;If for any reason the Intellectual Property Assets are
transferred to a third party, the obligations and restrictions set forth in this
<font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 1.3(e)</font>
shall be applicable to such third party.&#160;&#160;Notwithstanding the
foregoing, this license will expire and be of no further force or effect upon
the Purchaser&#8217;s payment in full of the Cash Consideration to the
Seller.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(f)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;VUANCE
hereby guarantees the payment and performance of all of the obligations of the
Purchaser set forth in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section
1.3</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">1.4</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Taxes.</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Taxes for Sale of Assets. </font>The
Seller and Purchaser shall equally bear and pay, any sales taxes, use taxes,
transfer taxes, value added, documentary charges, recording fees or similar
taxes, charges, fees or expenses that may become payable in connection with the
sale of the Assets to the Purchaser or in connection with any of the other
Transactions.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Prorations</font>.&#160;&#160;All
personal property taxes, ad valorem obligations and similar taxes imposed on a
periodic basis, in each case levied with respect to the Assets, other than
transfer taxes provided for in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 1.4(a)</font>, for a
taxable period which includes (but does not end on) the Closing Date shall be
apportioned between the Seller and the Purchaser as of the Closing Date based on
the number of days of such taxable period included in the Pre-Closing Tax Period
and the number of days of such taxable period included in the Post-Closing Tax
Period.&#160;&#160;The Seller shall be liable for the proportionate amount of
such taxes that are attributable to the Pre-Closing Tax Period and the Purchaser
shall be liable for the proportionate amount of such taxes that are attributable
to the Post-Closing Period.&#160;&#160;Within one hundred and eighty (180) days
after the Closing, the Seller and the Purchaser shall present a reimbursement to
which each is entitled under this <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 1.4(b)</font>
together with such supporting evidence as is reasonably necessary to calculate
the proration amount.&#160;&#160;The proration amount shall be paid by the party
owing it to the other within ten (10) days after delivery of such
statement.&#160;&#160;Thereafter, each party shall notify the other party
promptly following receipt of any bill for taxes relating to the Assets, part or
all of which are attributable to the Post-Closing Tax Period, and shall promptly
forward a copy of such bill to the other party; who shall pay the same to the
appropriate taxing authority.&#160;&#160;The party originally receiving such
bill shall also remit to the other party prior to the due date of payment for
its proportionate amount of such bill.&#160;&#160;In the event that either the
Seller or the Purchaser shall thereafter make a payment for which it is entitled
to reimbursement under this <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 1.4(b)</font>, the
other party shall make such reimbursement promptly but in no event later than
thirty (30) days after the presentation of a statement setting forth the amount
of reimbursement to which the presenting party is entitled along with such
supporting evidence as is reasonably necessary to calculate the amount of
reimbursement.</font></div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">1.5</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Nonassignable Contracts and
Authorizations.</font>&#160;&#160;To the extent that the assignment of any
Contract or any license, permit, approval or qualification issued or to be
issued by any government or agency or instrumentality thereof relating to the
Business or the Assets, including, without limitation, the Contracts and
Licenses and Permits, to be assigned to the Purchaser pursuant to this Agreement
shall require the consent of any other party, this Agreement shall not
constitute a contract to assign the same if an attempted assignment would
constitute a breach thereof.&#160;&#160;The Seller shall use its best commercial
efforts and at its expense, and the Purchaser shall cooperate where reasonable
and appropriate, to obtain any consent necessary to any such
assignment.&#160;&#160;If any such consent is not obtained, then the Seller
shall cooperate with the Purchaser in any reasonable arrangement requested by
the Purchaser designed to provide to the Purchaser the benefits under any such
Contract, license, permit, approval or qualification, including enforcement of
any and all rights of the Seller against the other party thereto arising out of
breach or cancellation thereof by such other party or otherwise, as long as such
arrangement would not otherwise breach such Contract, license, permit, approval
or qualification pursuant to its terms; <font style="DISPLAY: inline; TEXT-DECORATION: underline">provided</font>, <font style="DISPLAY: inline; TEXT-DECORATION: underline">however</font> that if the
Purchaser receives the benefits under any such Contract, license, permit,
approval or qualification pursuant to this <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 1.5</font>, the
Purchaser shall perform the Seller&#8217;s obligations, if any, set forth in such
Contract, license, permit, approval or qualification.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">1.6</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Closing</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
closing of the sale of the Assets to and the assumption of the Assumed
Liabilities by the Purchaser (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Closing</font>&#8221;)
shall take place at the offices of Shelowitz &amp; Associates, PLLC, at 10:00
a.m. on March 16, 2009 unless another date or place is agreed to in writing by
the parties.&#160;&#160;For purposes of this Agreement, &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Closing
Date</font>&#8221; shall mean the time and date as of which the Closing actually takes
place.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;At
the Closing:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
Seller shall execute and deliver to the Purchaser such bills of sale,
endorsements, assignments and other documents as may (in the reasonable judgment
of the Purchaser and its counsel) be necessary or appropriate to assign, convey,
transfer and deliver to the Purchaser good and valid title to the Assets free of
any Encumbrances;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;the Seller and the Stockholder shall execute and deliver to the Purchaser
a Noncompetition Agreement in the form of <font style="DISPLAY: inline; FONT-WEIGHT: bold">Exhibit C</font>;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
Purchaser shall assume the Assumed Liabilities by executing and delivering to
the Seller an Assumption Agreement in substantially the form of <font style="DISPLAY: inline; FONT-WEIGHT: bold">Exhibit D</font> (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Assumption
Agreement</font>&#8221;);</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
Purchaser will enter into an offer letter with the employees set forth on <font style="DISPLAY: inline; FONT-WEIGHT: bold">Schedule 1.2(a)</font> on such terms
and as would be negotiated and agreed by the Purchaser and such employees,
including mutually agreeable provisions regarding term, base and incentive
compensation and confidentiality (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Offer
Letter</font>&#8221;).&#160;&#160;The employees of the Seller listed on <font style="DISPLAY: inline; FONT-WEIGHT: bold">Schedule 1.2(a)</font> shall have
delivered to the Purchaser an executed Offer Letter in substantially the form of
<font style="DISPLAY: inline; FONT-WEIGHT: bold">Exhibit E</font>, which
agreements shall not have been anticipatorily breached or repudiated by such
employees; and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any
additional documents as set forth in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 4.5</font>
hereof.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">1.7</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Purchase Price
Allocation.</font>&#160;&#160;The Purchase Price shall be allocated as set forth
in <font style="DISPLAY: inline; FONT-WEIGHT: bold">Schedule 1.7</font> hereto
in accordance with Code &#167;1060 and the Treasury regulations thereunder (and any
similar provision of state, local or foreign law, as appropriate), which
allocation shall be binding upon the Seller and the Purchaser.&#160;&#160;The
Seller and the Purchaser acknowledge that <font style="DISPLAY: inline; FONT-WEIGHT: bold">Schedule 1.7</font> hereto is a
correct allocation of the Purchase Price to the best of their Knowledge and
belief.&#160;&#160;The Seller and Purchaser and their Affiliates shall report
and file Tax Returns (including, but not limited to Internal Revenue Service
Form 8594), and shall act, in all respects and for all purposes consistent with
such allocation.&#160;&#160;Neither the Seller nor Purchaser shall take any
position (whether in audits, Tax Returns or otherwise) which is inconsistent
with such allocation unless required to do so by applicable law.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">2.</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-VARIANT: small-caps">Representations
      and Warranties of the
Seller</font>.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As an
inducement to the Purchaser to enter into this Agreement and to consummate the
transactions contemplated hereby, the Seller and the Stockholder, jointly and
severally hereby represent and warrant, to and for the benefit of the Purchaser,
as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">2.1</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Due Organization; No Subsidiaries;
Capitalization.</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
Seller is a corporation duly organized, validly existing and in good standing
under the laws of the State of Texas. The Seller is not required to be
qualified, authorized, registered or licensed to do business as a foreign
corporation in any jurisdiction other than the jurisdictions listed in Part 2.1
of the Disclosure Schedule.&#160;&#160;The Seller is in good standing as a
foreign corporation in each of the jurisdictions listed in Part 2.1 of the
Disclosure Schedule.&#160;&#160;Except for the equity interest it owns in the
Joint Venture as set forth on <font style="DISPLAY: inline; FONT-WEIGHT: bold">Schedule 1.1(a)(xiv)</font>, the
Seller does not have any subsidiaries, and does not own, beneficially or
otherwise, any shares or other securities of, or any direct or indirect interest
of any nature in, any other Entity.&#160;&#160;The Seller has never conducted
any business under or otherwise used, for any purpose or in any jurisdiction,
any fictitious name, assumed name, trade name or other name, other than
&#8220;Intelli-Site Inc.&#8221; and is in possession of all Approvals.</font></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;All
of the issued and outstanding equity securities of the Seller are beneficially
and legally owned by the Stockholder.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">2.2</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Absence of
Changes.</font>&#160;&#160;Except as set forth in Part&#160;2.2 of the
Disclosure Schedule, since December 31, 2008, the Seller has not:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">issued,
      sold, redeemed or repurchased any shares, bonds or other corporate
      securities or any rights, options or warrants with respect thereto (except
      pursuant to the conversion or exercise of convertible securities, options
      or warrants outstanding on the date hereof), or amended any of the terms
      (including without limitation the vesting of) any such convertible
      securities, options or warrants;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">split,
      combined or reclassified any shares of its capital stock, or declared, set
      aside or paid any dividend or other distribution with respect to any
      shares of capital stock of Seller, whether in cash, stock or property, or
      any combination thereof;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">c)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">made
      any loan, advance or capital contribution to or investment in any person
      other than loans or advances to employees of Seller made in the Ordinary
      Course of Business;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">d)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">borrowed
      any amount or incurred or become subject to any liabilities (absolute or
      contingent)&#160;except current liabilities incurred in the Ordinary
      Course of Business;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">e)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">discharged
      or satisfied any claim or encumbrance or paid any obligation or liability
      (absolute or contingent), other than current liabilities paid in the
      Ordinary Course of Business;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">f)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">amended
      its Certificate of Incorporation, By-laws or other organizational
      document;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">g)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">instituted
      or settled any Litigation;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">h)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">mortgaged
      or pledged any of the Assets, tangible or intangible, or subjected itself
      or any portion of the Assets, tangible or intangible, to any claim, except
      claims for current property taxes not yet due and
  payable;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">i)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">acquired
      or sold, assigned, transferred or otherwise disposed of any amount of
      tangible assets, except in the Ordinary Course of Business, or canceled
      any debts or claims;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">j)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">sold,
      assigned, licensed, sublicensed or transferred any intangible asset or
      intellectual property right, or disclosed any proprietary or confidential
      information to any person or entity not associated with the Seller, unless
      such person or entity, prior to such disclosure executed and delivered a
      non-disclosure agreement in favor of the
Seller;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">k)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">suffered
      any non-operating loss in excess of $10,000, or aggregate non-operating
      losses in excess of $20,000, in either case regardless of whether in the
      Ordinary Course of Business or covered by
  insurance;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">l)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">waived
      any right of value in excess of $10,000, or aggregate rights in excess of
      $20,000 (including any insurance policy naming it as a beneficiary or a
      loss payable payee);</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">m)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">suffered
      any labor trouble, or any event or condition of any character, having a
      Material Adverse Effect on the business or plans of the
      Seller;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">n)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">materially
      decreased expenditures with respect to maintenance and
      repairs;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">o)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">made
      any single capital expenditure or commitment therefor in excess of
      $10,000, or aggregate capital expenditures or commitments therefor in
      excess of $20,000;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">p)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">done
      any of the following: (A) entered into, adopted or amended any employee
      benefit plan, (B) made any grant of any severance or termination pay to
      any director, officer, employee or individual providing services to
      Seller, (C) entered into any employment, deferred compensation, change in
      control or other similar agreement (or any amendment to any such existing
      agreement) with any director, officer, employee or individual providing
      services to Seller, (D) increased benefits payable under any existing
      severance or termination pay policies or employment agreements, or (E)
      increased compensation, bonus or other benefits payable to directors,
      officers, employees or individuals providing services to Seller, other
      than, in the case of clause (B), with respect to non-executive employees,
      and in the case of clause (E), in the Ordinary Course of
      Business;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">q)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">entered
      into any joint venture, partnership or similar
  arrangement;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">r)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">amended,
      modified or terminated any Contract identified on Schedule 1.1(a)(iv),
      other than in the Ordinary Course of Business, except for any such item
      that terminated in accordance with its terms, or taken any action that
      would constitute a violation of or default under any material
      Contract;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">s)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">changed
      its accounting methods, principles or practices, or revalued any of the
      Assets (including without limitation the writing down of the value of
      inventory or the writing off of notes or accounts receivable other than in
      the Ordinary Course of Business);</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">t)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">taken,
      or failed to take, any action which could reasonably be expected to
      prevent, hinder or materially delay the ability of the Seller to
      consummate the transactions contemplated by this Agreement or the
      Ancillary Agreements to which it is a
party;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">u)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">entered
      into any other transaction other than in the Ordinary Course of Business
      or entered into any other material transaction, whether or not in the
      Ordinary Course of Business; or</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">v)</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">agreed
      in writing or otherwise to take any of the foregoing
    actions.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">2.3</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Title to
Assets.</font>&#160;&#160;Except as set forth in Part 2.3 of the Disclosure
Schedule, the Seller owns, and has good and valid title to, all of the Assets,
free and clear of all Encumbrances, and without incurring any penalty or other
adverse consequence, including, without limitation, any increase in rents,
royalties, or license or other fees imposed as a result of, or arising from, the
consummation of the transactions contemplated by this
Agreement.&#160;&#160;Part&#160;2.3 of the Disclosure Schedule identifies all of
the Assets that are being leased or licensed to the Seller.&#160;&#160;The
Assets will collectively constitute, as of the Closing Date, all of the
properties, rights, interests and other tangible and intangible assets necessary
to enable the Seller to conduct the Business as currently
conducted.&#160;&#160;In addition, the Seller is not subject to any
non-competition or similar restriction on the Business.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">2.4</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Customers.</font>&#160;&#160;Part 2.4
of the Disclosure Schedule accurately identifies, and provides an accurate and
complete breakdown of the revenues received from its five largest customers in
2008 and 2007.&#160;&#160;The Seller has not received any notice or other
communication (in writing or otherwise) indicating that the any of the said
customers may cease dealing with the Seller or may otherwise reduce the volume
of business transacted by such Person with the Seller below historical
levels.&#160;&#160;Except as set forth on Part 2.4 of the Disclosure Schedule,
the Seller has not received any notice or other communication (in writing or
otherwise), and has no other information, indicating that any distributor of any
of the Seller&#8217;s Intellectual Property Assets may cease acting as a distributor
of such products or otherwise dealing with the Seller.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">2.5</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Equipment,
Etc.</font>&#160;&#160;Part&#160;2.5 of the Disclosure Schedule accurately
identifies all equipment, materials, prototypes, tools, supplies, vehicles,
furniture, fixtures, improvements and other tangible Assets owned by the
Seller.&#160;&#160;Each Asset (other than the Equipment) identified or required
to be identified in Part 2.5 of the Disclosure Schedule:&#160;&#160;(i) is
structurally sound, free of defects and deficiencies and in good condition and
repair (ordinary wear and tear excepted); (ii) complies in all respects with,
and is being operated and otherwise used in full compliance with, all applicable
Legal Requirements; and (iii) is adequate and appropriate for the uses to which
it is being put.&#160;&#160;Except as provided in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 2.3</font>, Seller
makes no representation or warranty concerning the condition or repair of the
Equipment, such Equipment being delivered &#8220;AS IS, WHERE IS&#8221;, without any express
or implied warranties whatsoever, including without limitation warranties of
merchantability or fitness for a particular purpose.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">2.6</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Intellectual
Property; Privacy.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Products and
Services</font>.&#160;&#160;Part 2.6(a) of the Disclosure Schedule accurately
identifies and describes each Seller Product currently being designed,
developed, manufactured, marketed, distributed, provided, licensed, or sold by
the Seller.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Registered
IP</font>.&#160;&#160;Part 2.6(b) of the Disclosure Schedule accurately
identifies: (a) each item of Registered IP in which the Seller has or purports
to have an ownership interest of any nature (whether exclusively, jointly with
another Person, or otherwise); (b) the jurisdiction in which such item of
Registered IP has been registered or filed and the applicable registration or
serial number; (c) any other Person that has an ownership interest in such item
of Registered IP and the nature of such ownership interest; and (d) each Seller
Product identified in Part 2.6(a) of the Disclosure Schedule that embodies,
utilizes, or is based upon or derived from (or, with respect to Seller Products
currently under development, that is expected to embody, utilize, or be based
upon or derived from) such item of Registered IP.&#160;&#160;The Seller has
provided to the Purchaser complete and accurate copies of all applications,
correspondence with any Governmental Body, and other material documents related
to each such item of Registered IP.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Inbound
Licenses</font>.&#160;&#160;Part 2.6(c) of the Disclosure Schedule accurately
identifies: (a) each Contract pursuant to which any Intellectual Property Asset
is or has been licensed, sold, assigned, or otherwise conveyed or provided to
the Seller (other than (i) agreements between the Seller and its employees in
the Seller&#8217;s standard form thereof and (ii) non-exclusive licenses to
third-party software that is not incorporated into, or used in the development,
manufacturing, testing, distribution, maintenance, or support of, any Seller
Product and that is not otherwise material to the Business); and (b) whether the
licenses or rights granted to the Seller in each such Contract are exclusive or
non-exclusive.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Outbound
Licenses</font>.&#160;&#160;Part 2.6(d) of the Disclosure Schedule accurately
identifies each Contract pursuant to which any Person has been granted any
license under, or otherwise has received or acquired any right (whether or not
currently exercisable) or interest in, any Seller IP.&#160;&#160;The Seller is
not bound by, and no Seller IP is subject to, any Contract containing any
covenant or other provision that in any way limits or restricts the ability of
the Seller to use, exploit, assert, or enforce any Seller IP anywhere in the
world.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Royalty
Obligations</font>.&#160;&#160;Part 2.6(e) of the Disclosure Schedule contains a
complete and accurate list and summary of all royalties, fees, commissions, and
other amounts payable by the Seller to any other Person (other than sales
commissions paid to employees according to the Seller&#8217;s standard commissions
plan) upon or for the manufacture, sale, or distribution of any Seller Product
or the use of any Seller IP.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(f)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Standard Form IP
Agreements</font>.&#160;&#160;The Seller has provided to the Purchaser a
complete and accurate copy of each standard form of Seller IP Contract used by
the Seller at any time since 2006, including each standard form of (a) employee
agreement containing any assignment or license of Intellectual Property Rights;
(b) consulting or independent contractor agreement containing any intellectual
property assignment or license of Intellectual Property Rights; and (c)
confidentiality or nondisclosure agreement.&#160;&#160;Part 2.6(f) of the
Disclosure Schedule accurately identifies each Seller IP Contract that deviates
in any material respect from the corresponding standard form agreement provided
to the Purchaser, including any agreement with an employee, consultant, or
independent contractor in which the employee, consultant, or independent
contractor expressly reserved or retained rights in any Intellectual Property or
Intellectual Property Rights incorporated into or used in connection with any
Seller Product or otherwise related to the Seller&#8217;s business, research, or
development.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(g)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Ownership Free and
Clear</font>.&#160;&#160;The Seller exclusively owns all right, title, and
interest to and in the Seller IP (other than Intellectual Property Rights
exclusively licensed to the Seller, as identified in Part 2.6(c) of the
Disclosure Schedule) free and clear of any Encumbrances (other than licenses and
rights granted pursuant to the Contracts identified in Part 2.6(d) of the
Disclosure Schedule).&#160;&#160;Without limiting the generality of the
foregoing:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Perfection of
Rights</font>.&#160;&#160;As of the Closing&#160;Date, all documents and
instruments necessary&#160;to establish, perfect, and maintain the rights of
the&#160;Seller in the&#160;Registered IP have been validly
executed,&#160;delivered, and&#160;filed in a timely manner with the appropriate
Governmental Body.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Employees and
Contractors</font>.&#160;&#160;Each Person who is or was an employee or
contractor of the Seller and who is or was involved in the creation or
development of any Seller Product or Seller IP has signed a valid, enforceable
agreement containing an assignment of Intellectual Property Rights pertaining to
such Seller Product or Seller IP to the Seller and confidentiality provisions
protecting the Seller IP.&#160;&#160;No current or former shareholder, officer,
director, or employee of the Seller has any claim, right (whether or not
currently exercisable), or interest to or in any Seller IP.&#160;&#160;No
employee of the Seller is (a) bound by or otherwise subject to any Contract
restricting him from performing his duties for the Seller or (b) in breach of
any Contract with any former employer or other Person concerning Intellectual
Property Rights or confidentiality due to his activities as an employee of the
Seller.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Government
Rights</font>.&#160;&#160;No funding, facilities or personnel of any
Governmental Body or any public or private university, college, or other
educational or research institution were used, directly or indirectly, to
develop or create, in whole or in part, any Seller IP.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Protection of Proprietary
Information</font>.&#160;&#160;The Seller has taken all reasonable steps to
maintain the confidentiality of and otherwise protect and enforce its rights in
all proprietary information pertaining to the Seller or any Seller
Product.&#160;&#160;Without limiting the generality of the foregoing, except for
those escrow agents identified in Seller&#8217;s customer agreements, no portion of
the source code for any software ever owned or developed by the Seller has been
disclosed or licensed to any escrow agent or other Person.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Sufficiency</font>.&#160;&#160;The
Seller owns or otherwise has, and after the Closing the Purchaser will have, all
Intellectual Property Rights needed to conduct the Business as currently
conducted.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(h)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Valid and
Enforceable</font>.&#160;&#160;All Seller IP is valid,<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: super">&#160;</font>subsisting,
and enforceable.&#160;&#160;Without limiting the generality of the
foregoing:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Misuse and Inequitable
Conduct</font>.&#160;&#160;The Seller has not engaged in patent or copyright
misuse or any fraud or inequitable conduct in connection with any Seller IP that
is Registered IP.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Trademarks</font>.&#160;&#160;To
the Knowledge of the Seller, no trademark or trade name owned, used, or applied
for by the Seller conflicts or interferes with any trademark or trade name
owned, used, or applied for by any other Person.&#160;&#160;To the Knowledge of
the Seller, no event or circumstance (including a failure to exercise adequate
quality controls and an assignment in gross without the accompanying goodwill)
has occurred or exists that has resulted in, or could reasonably be expected to
result in, the abandonment of any trademark (whether registered or unregistered)
owned, used, or applied for by the Seller.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Legal Requirements and
Deadlines</font>.&#160;&#160;Except as set forth on Part 2.6(h)(iii) of the
Disclosure Schedule, no application for a patent or a copyright, mask work, or
trademark registration or any other type of Registered IP filed by or on behalf
of the Seller has been abandoned, allowed to lapse, or rejected.&#160;&#160;Part
2.6(h)(iii) of the Disclosure Schedule accurately identifies and describes each
action, filing and payment that must be taken or made within ninety (90) days
after the date of this Agreement in order to maintain such item of Seller IP in
full force and effect.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Interference Proceedings and
Similar Claims</font>.&#160;&#160;No interference, opposition, reissue,
reexamination, or other Proceeding is or since 2002 has been pending or, to the
best of the Seller&#8217;s Knowledge, threatened, in which the scope, validity, or
enforceability of any Seller IP is being, has been, or could reasonably be
expected to be contested or challenged.&#160;&#160;To the best of the Seller&#8217;s
Knowledge, there is no basis for a claim that any Seller IP is invalid or
unenforceable.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Third-Party Infringement of
Company IP</font>.&#160;&#160;To the best of the Seller&#8217;s Knowledge, no Person
has infringed, misappropriated, or otherwise violated, and no Person is
currently infringing, misappropriating, or otherwise violating, any Seller
IP.&#160;&#160;Part 2.6(i) of the Disclosure Schedule accurately identifies (and
the Seller has provided to the Purchaser a complete and accurate copy of) each
letter or other written or electronic communication or correspondence that has
been sent or otherwise delivered by or to the Seller or any representative of
the Seller regarding any actual, alleged, or suspected infringement or
misappropriation of any Seller IP, and provides a brief description of the
current status of the matter referred to in such letter, communication, or
correspondence.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(j)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Effects of This
Transaction</font>.&#160;&#160;Neither the execution, delivery, or performance
of this Agreement (or any of the ancillary agreements) nor the consummation of
any of the transactions contemplated by this Agreement (or any of the ancillary
agreements) will, with or without notice or lapse of time, result in, or give
any other Person the right or option to cause or declare, (a) a loss of, or
Encumbrance on, any Seller IP; (b) a breach of or default under any Seller IP
Contract; (c) the release, disclosure, or delivery of any Seller IP by or to any
escrow agent or other Person; or (d) the grant, assignment, or transfer to any
other Person of any license or other right or interest under, to, or in any of
the Seller IP.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(k)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">No Infringement of Third
Party IP Rights</font>.&#160;&#160;To the Knowledge of the Seller, the Seller
has never infringed (directly, contributorily, by inducement, or otherwise),
misappropriated, or otherwise violated or made unlawful use of any Intellectual
Property Right of any other Person or engaged in unfair
competition.&#160;&#160;To the Knowledge of the Seller, no Seller Product, and
no method or process used in the manufacturing of any Seller Product, infringes,
violates, or makes unlawful use of any Intellectual Property Right of, or
contains any Intellectual Property misappropriated from, any other
Person.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(l)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Infringement
Claims</font>.&#160;&#160;No infringement, misappropriation, or similar claim or
Proceeding is pending or, to the best of the Seller&#8217;s Knowledge, threatened
against the Seller or against any other Person who is or may be entitled to be
indemnified, defended, held harmless, or reimbursed by the Seller with respect
to such claim or Proceeding.&#160;&#160;The Seller&#160;&#160;has never received
any notice or other communication (in writing or otherwise) relating to any
actual, alleged, or suspected infringement, misappropriation, or violation by
the Seller, any of its employees or agents, or any Seller Product of any
Intellectual Property Rights of another Person.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(m)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Other Infringement
Liability</font>.&#160;&#160;The Seller is not bound by any Contract to
indemnify, defend, hold harmless, or reimburse any other Person with respect to,
or otherwise assumed or agreed to discharge or otherwise take responsibility
for, any existing or potential intellectual property infringement,
misappropriation, or similar claim (other than indemnification provisions in the
Seller&#8217;s standard forms or Seller IP Contracts).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(n)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Infringement Claims
Affecting In-Licensed IP</font>.&#160;&#160;To the best of the Seller&#8217;s
Knowledge, no claim or Proceeding involving any Intellectual Property or
Intellectual Property Right licensed to the Seller is pending or has been
threatened, except for any such claim or Proceeding that, if adversely
determined, would not adversely affect (a) the use or exploitation of such
Intellectual Property or Intellectual Property Right by the Seller, or (b) the
design, development, manufacturing, marketing, distribution, provision,
licensing or sale of any Seller Product.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(o)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Source
Code</font>.&#160;&#160;Except for those escrow agents identified in Seller&#8217;s
customer agreements, no source code for any Seller Software has been delivered,
licensed, or made available to any escrow agent or other Person who is not, as
of the date of this Agreement, an employee of the Seller.&#160;&#160;The Seller
has no duty or obligation (whether present, contingent, or otherwise) to
deliver, license, or make available the source code for any Seller Software to
any escrow agent or other Person.&#160;&#160;No event has occurred, and no
circumstance or condition exists, that (with or without notice or lapse of time)
will, or could reasonably be expected to, result in the delivery, license, or
disclosure of the source code for any Seller Software to any other
Person.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(p)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Open
Source.</font>&#160;&#160;Part 2.6(p) of the Disclosure Schedule accurately
identifies and describes (i) each item of Open Source Code that is contained in,
distributed with, or used in the development of the Seller Products or from
which any part of any Seller Product is derived.&#160;&#160;No Seller Product is
derived from, is distributed with, or is being or was developed using Open
Source Code.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(q)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
Seller has complied at all times and in all respects with all of the Seller
Privacy Policies and with all applicable Legal Requirements pertaining to
privacy, User Data or Personal Data.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(r)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Neither
the execution, delivery, or performance of this Agreement (or any of the
ancillary agreements) nor the consummation of any of the transactions
contemplated by this Agreement (or any of the ancillary agreements), nor the
Purchaser&#8217;s possession or use of the User Data or any data or information in the
Seller Databases, will result in any violation of any Seller Privacy Policy or
any Legal Requirement pertaining to privacy, User Data or Personal
Data.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">2.7</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Contracts</font>.&#160;&#160;The
Seller has delivered to the Purchaser accurate and complete copies of all
Contracts identified on <font style="DISPLAY: inline; FONT-WEIGHT: bold">Schedule
1.1(a)(iv)</font>.&#160;&#160;Each such Contract is valid and in full force and
effect and constitutes in all material respects the valid and binding obligation
of the Seller and, to the Seller&#8217;s Knowledge, of each other party thereto,
enforceable in accordance with its respective terms, subject to laws affecting
generally the enforcement of creditor&#8217;s rights and to general principles of
equity.&#160;&#160;To its Knowledge, Seller has performed all obligations
required to be performed by it prior to the Closing Date under the Contracts and
is not in breach or default thereunder nor has any event occurred which, with
the giving of notice or the passage of time or both, would constitute a breach
or default.&#160;&#160;Seller has not received notice of any plan or intention
of any other party under any of the Contracts to exercise any right to cancel or
terminate any such Contract.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
The Seller has no Knowledge of any basis upon which any party to any Contract to
be assumed by the Purchaser hereunder may object to (i)&#160;the assignment to
the Purchaser of any right under such Contract, or (ii)&#160;the delegation to
or performance by the Purchaser of any obligation under such
Contract.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">2.8</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Liabilities.</font>&#160;&#160;The
Seller has not, at any time, (i)&#160;made a general assignment for the benefit
of creditors, (ii)&#160;filed, or had filed against it, any bankruptcy petition
or similar filing, (iii)&#160;suffered the attachment or other judicial seizure
of all or a substantial portion of its assets, (iv)&#160;admitted in writing its
inability to pay its debts as they become due, (v)&#160;been convicted of, or
pleaded guilty or no contest to, any felony, or (vi)&#160;taken or been the
subject of any action that may have an adverse effect on its ability to comply
with or perform any of its covenants or obligations under any of the
Transactional Agreements.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">2.9</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Compliance with Legal
Requirements</font>.&#160;&#160;Except as set forth in Part&#160;2.9 of the
Disclosure Schedule: (a) the Seller is in material compliance with each Legal
Requirement that is applicable to it or to the conduct of its Business or the
ownership or use of any of its Assets; (b) the Seller has at all times been in
full compliance with each Legal Requirement that is or was applicable to it or,
to the Seller&#8217;s Knowledge, to conduct of the Business or the ownership or use of
the Assets; (c) no event has occurred, and no condition or circumstance exists,
that might (with or without notice or lapse of time) constitute or result
directly or indirectly in a violation by the Seller of, or a failure on the part
of Seller to comply with, any Legal Requirement which would materially and
adversely affect Purchaser&#8217;s use of the Assets; and (d) the Seller has not
received, at any time, any notice or other communication (in writing or
otherwise) from any Governmental Body or any other Person regarding (i)&#160;any
actual, alleged, possible or potential violation of, or failure to comply with,
any Legal Requirement, or (ii) any actual, alleged, possible or potential
obligation on the part of the Seller to undertake, or to bear all or any portion
of the cost of, any cleanup or any remedial, corrective or response action of
any nature.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">2.10</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Governmental
Authorizations.</font>&#160;&#160;Part&#160;2.10 of the Disclosure Schedule
identifies: (a) each Governmental Authorization that is held by the Seller; and
(b) each other Governmental Authorization that, to the Knowledge of the Seller,
is held by any employee of the Seller and relates to the
Business.&#160;&#160;The Seller has delivered to the Purchaser accurate and
complete copies of all of the Governmental Authorizations identified in
Part&#160;2.10 of the Disclosure Schedule, including all renewals thereof and
all amendments thereto.&#160;&#160;Each Governmental Authorization identified or
required to be identified in Part&#160;2.10 of the Disclosure Schedule, and to
the Seller&#8217;s Knowledge, is valid and in full force and effect.&#160;&#160;Except
as set forth in Part&#160;2.10 of the Disclosure Schedule: (i) the Seller is and
has at all times been in full compliance with all of the terms and requirements
of each Governmental Authorization identified or required to be identified in
Part&#160;2.10 of the Disclosure Schedule; (ii) no event has occurred, and no
condition or circumstance exists, that might (with or without notice or lapse of
time) (A)&#160;constitute or result directly or indirectly in a violation of or
a failure to comply with any term or requirement of any Governmental
Authorization identified or required to be identified in Part&#160;2.10 of the
Disclosure Schedule, or (B)&#160;result directly or indirectly in the
revocation, withdrawal, suspension, cancellation, termination or modification of
any Governmental Authorization identified or required to be identified in
Part&#160;2.10 of the Disclosure Schedule; (iii) the Seller has never received
any notice or other communication (in writing or otherwise) from any
Governmental Body or any other Person regarding (A)&#160;any actual, alleged,
possible or potential violation of or failure to comply with any term or
requirement of any Governmental Authorization, or (B)&#160;any actual, proposed,
possible or potential revocation, withdrawal, suspension, cancellation,
termination or modification of any Governmental Authorization; and (iv) all
applications required to have been filed for the renewal of the Governmental
Authorizations required to be identified in Part&#160;2.10 of the Disclosure
Schedule have been duly filed on a timely basis with the appropriate
Governmental Bodies, and each other notice or filing required to have been given
or made with respect to such Governmental Authorizations has been duly given or
made on a timely basis with the appropriate Governmental Body.&#160;&#160;The
Governmental Authorizations identified in Part&#160;2.10 of the Disclosure
Schedule constitute all of the Governmental Authorizations necessary (i)&#160;to
enable the Seller to conduct its Business as currently conducted, and
(ii)&#160;to permit the Seller to own and use the Assets in the manner in which
they are currently owned and used.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">2.11</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Tax
Matters</font>.&#160;&#160;&#160;&#160;&#160;Except as set forth in Part 2.11 of
the Disclosure Schedule:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
Seller has timely, completely and accurately prepared and filed all federal,
state, local and foreign Tax Returns required to be filed (taking into account
extensions) by or on behalf of the Seller that relate to the Business or the
Assets, and all such Tax Returns are true, complete and correct.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;No
deficiency for any Taxes relating to the Business or the Assets has been
proposed, asserted or assessed either orally or in writing against the Seller
that is not adequately reserved for in accordance with U.S. GAAP on the Seller
Financial Statements (as defined below), nor has the Seller received any written
notice of any outstanding Tax audits or inquiries relating to the Business or
the Assets.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;No
unsatisfied deficiency, delinquency or default for any Tax has been claimed,
proposed or assessed in writing against or with respect to Seller, nor has
Seller received notice of any such deficiency, delinquency or default, and there
is no administrative or court proceeding or, to Seller&#8217;s Knowledge, any audit or
investigation pending with respect to any liability of Seller for
Taxes.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Seller
has complied with all applicable Laws relating to the payment and withholding of
Taxes (including, but not limited to, withholding of Taxes pursuant to Sections
1441, 1442 and 3406 of the Code or similar provisions under any foreign Laws)
and have, within the time and in the manner required by Law, withheld from
employee wages and paid over to the proper Governmental Body all amounts
required to be so withheld and paid over under all applicable Laws.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;There
are no Liens with respect to Taxes upon any of the Assets, other than with
respect to Taxes arising in the Ordinary Course of Business and not yet due and
payable.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">2.12</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Performance of
Services.</font>&#160;&#160;All services that have been performed on behalf of
the Seller in connection with the Business were performed properly and in full
conformity with the terms and requirements of all applicable warranties and
other Contracts and with all applicable Legal Requirements.&#160;&#160;There is
no claim pending or being threatened against the Seller relating to any services
performed by the Seller, and, to the Knowledge of the Seller, there is no basis
for the assertion of any such claim.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">2.13</font>&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Related Party
Transactions.</font>&#160;&#160;Except as set forth in Part&#160;2.13 of the
Disclosure Schedule, no Related Party has entered into, or has had any direct or
indirect financial interest in, any Asset or Contract.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">2.14</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Proceedings;
Orders.</font>&#160;&#160;Except as set forth in Part 2.14 of the Disclosure
Schedule, there is no pending Proceeding, and no Person has threatened to
commence any Proceeding that relates to or might affect the Business or any of
the Assets.&#160;&#160;Except as set forth in Part&#160;2.14 of the Disclosure
Schedule, to the Seller&#8217;s Knowledge, no event has occurred, and no claim,
dispute or other condition or circumstance exists, that might directly or
indirectly give rise to or serve as a basis for the commencement of any such
Proceeding.&#160;&#160;Except as set forth in Part 2.14 of the Disclosure
Schedule, no Proceeding has ever been commenced by or against the Seller. The
Seller has delivered to the Purchaser accurate and complete copies of all
pleadings, correspondence and other written materials (to which the Seller has
access) that relate to the Proceedings identified in Part&#160;2.14 of the
Disclosure Schedule. There is no Order to which any of the Assets is
subject.&#160;&#160;To the Knowledge of the Seller, no employee of the Seller is
subject to any Order that may prohibit such employee from engaging in or
continuing any conduct, activity or practice relating to the
Business.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">2.15</font>&#160;&#160;&#160;
&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Authority; Binding Nature of
Agreements</font>. Each of the Seller and the Stockholder has the absolute and
unrestricted right, power and authority to enter into and to perform its
obligations under each of the Transactional Agreements to which it is or may
become a party; and the execution, delivery and performance by each of the
Seller and the Stockholder of the Transactional Agreements to which it is or may
become a party have been duly authorized by all necessary action on the part of
the Seller and the Stockholder.&#160;&#160;Upon the execution of each of the
Transactional Agreements at the Closing, each of such Transactional Agreements
to which each of the Seller or the Stockholder is a party will constitute the
legal, valid and binding obligation of the Seller or the Stockholder, as the
case may be, and will be enforceable against the Seller or the Stockholder, as
the case may be, in accordance with its terms.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">2.16</font>&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Non-Contravention;
Consents.</font>&#160;&#160;Except as set forth in Part 2.16 of the Disclosure
Schedule, the Seller was not, is not and will not be required to make any filing
with or give any notice to, or to obtain any Consent from, any Person in
connection with the execution and delivery of any of the Transactional
Agreements or the consummation or performance of any of the
Transactions.&#160;&#160;The consummation or performance of any of the
Transactions will not contravene, conflict or result in a violation or default
of, any Contract.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">2.17</font>&#160;&#160;&#160;&#160;&#160;
&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Brokers.</font>&#160;&#160;Except as
set forth in Part 2.17 of the Disclosure Schedule, the Seller has not agreed or
become obligated to pay, or has taken any action that might result in any Person
claiming to be entitled to receive, any brokerage commission, finder&#8217;s fee or
similar commission or fee in connection with any of the
Transactions.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">2.18</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Full
Disclosure.</font>&#160;&#160;The Seller has provided the Purchaser with all
information reasonably requested by the Purchaser in connection with its
decision to purchase the Assets.&#160;&#160;None of the Transactional Agreements
contains any untrue statement of fact; and none of the Transactional Agreements
omits to state any fact necessary to make any of the representations, warranties
or other statements or information contained therein not
misleading.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">2.19</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Real Property.</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">&#160;
(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Seller does not own
any real property.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">&#160;
(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; No real property
leases of the Seller are being conveyed.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">2.20</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Purchased
Assets</font>.&#160;&#160;Except as set forth in Part&#160;2.20<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font> of the Disclosure
Schedule, the Seller has the complete and unrestricted power and unqualified
right to sell, assign, transfer, convey and deliver the Assets to the Purchaser
without penalty or other adverse consequences.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">2.21</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Purchase For
Investment</font>.&#160;&#160;The Seller is acquiring the Consideration Shares
and Royalty Shares for investment for its own account and not with a view to the
distribution or public offering thereof within the meaning of the Securities Act
of 1933, as amended (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Securities
Act</font>&#8221;).&#160;&#160;The Seller understands that the Consideration Shares
and Royalty Shares have not been registered under the Securities Act and may not
be sold or transferred without such registration or an exemption
therefrom.&#160;&#160;The Seller is sufficiently experienced in financial and
business matters to be capable of evaluating the risk of investment in the
Consideration Shares and Royalty Shares and to make an informed decision
relating thereto.&#160;&#160;The Seller has the financial capability for making
the investment in the Consideration Shares and Royalty Shares, can afford a
complete loss of such investment, and such investment is a suitable one for the
Seller.&#160;&#160;The Seller is an &#8220;Accredited Investor&#8221; as defined in
Regulation D under the Securities Act.&#160;&#160;Prior to the execution and
delivery of this Agreement, the Seller has had the opportunity to ask questions
of and receive answers from representatives of VUANCE.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">2.22</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Financial
Statements</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
Seller has delivered to the Purchaser (i) the unaudited Balance Sheets of Seller
as of June 30, 2008 and 2007, Income Statements of the Seller for the years
ended June 30, 2008 and 2007, and the Statements of Cash Flows of the Seller for
the years ending June 30, 2008 and 2007, and (ii) the unaudited Balance Sheet of
the Seller as of December 31, 2008, Income Statement of the Seller for the 6
months ended December 31, 2008, and the Statement of Cash Flows of the Seller
for the 6 months ended December 31, 2008 (together, the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Seller Financial
Statements</font>&#8221;), all of which statements (including the notes thereto, if
any) are complete and correct in all material respects and present fairly the
assets, liabilities and financial position of the Seller on the date of such
statements, and the results of operations and changes in the financial condition
of the Seller for the periods covered thereby, subject, to normal recurring
year-end adjustments (the effect of which shall not, individually or in the
aggregate, have a Material Adverse Effect on the Seller) and the absence of
notes.&#160;&#160;Each of the Seller Financial Statements was prepared in
accordance with U.S. GAAP applied on a consistent basis throughout the periods
involved.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Part
2.22(b) of the Disclosure Schedule contains an aged list of the Receivables as
of February 28, 2009. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">3.</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-VARIANT: small-caps">Representations
      and Warranties of the
Purchaser</font>.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Purchaser hereby represents and warrants, to and for the benefit of the Seller
and the Stockholder, as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">3.1</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Authority; Binding Nature of
Agreements.</font>&#160;&#160;The Purchaser has the absolute and unrestricted
right, power and authority to enter into and perform its obligations under this
Agreement, and the execution and delivery of this Agreement by the Purchaser
have been duly authorized by all necessary action on the part of the Purchaser
and its board of directors.&#160;&#160;This Agreement constitutes the legal,
valid and binding obligation of the Purchaser, enforceable against it in
accordance with its terms.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">3.2</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Issuance of VUANCE Shares</font>. The
Consideration Shares and the Royalty Shares, when issued and paid for in
accordance with this Agreement, will be duly authorized and validly issued,
fully paid and nonassessable, free and clear of all Encumbrances other than
restrictions on transfer provided for in this Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">3.3</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Private Placement</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-VARIANT: small-caps">. </font>No
registration under the Securities Act is required for the offer and sale of the
Consideration Shares or the Royalty Shares by VUANCE to the Seller as
contemplated hereby.&#160;&#160;The issuance and sale of the Consideration
Shares and the Royalty Shares hereunder do not contravene the rules and
regulations of the Trading Market.&#160;&#160;The issuance of the Consideration
Shares and the Royalty Shares pursuant to this Agreement will not require any
registration or qualification under any non-U.S. jurisdiction.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">3.4</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Investment Company</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-VARIANT: small-caps">.</font>
VUANCE is not, and is not an Affiliate of, an &#8220;investment company&#8221; within the
meaning of the Investment Company Act of 1940, as amended.&#160;&#160;VUANCE
shall conduct its business in a manner so that it will not become subject to the
Investment Company Act of 1940, as amended.</font></div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">3.5</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Listing and Maintenance
Requirements</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-VARIANT: small-caps">.
</font>VUANCE ordinary shares are registered pursuant to 12(g) of the Securities
Exchange Act of 1934 (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Exchange
Act</font>&#8221;), and VUANCE has taken no action designed to, or which to its
Knowledge is likely to have the effect of, terminating the registration of
VUANCE&#8217;s ordinary shares under the Exchange Act nor has VUANCE received any
notification that the Securities and Exchange Commission is contemplating
terminating such registration.&#160;&#160;VUANCE has received a letter from the
Trading Market notifying VUANCE that it was not in compliance with the Trading
Market&#8217;s continued listing requirements under Marketplace Rule
4310(c)(3).&#160;&#160;VUANCE has responded to the Trading Market letter
accordingly, and is waiting for a response from the Trading Market
thereto.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">3.6</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Brokers.</font>&#160;&#160;Other than
to Oberon Securities, LLC, the Purchaser has not become obligated to pay, and
has not taken any action that might result in any Person claiming to be entitled
to receive, any brokerage commission, finder&#8217;s fee or similar commission or fee
in connection with any of the Transactions.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">4.</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-VARIANT: small-caps">Conditions
      Precedent to the Purchaser&#8217;s Obligation to
  Close</font>.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Purchaser&#8217;s obligation to purchase the Assets and to take the other actions
required to be taken by the Purchaser at the Closing is subject to the
satisfaction, at or prior to the Closing, of each of the following conditions by
the Seller (any of which may be waived by the Purchaser in its sole discretion,
in whole or in part, in writing):</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">4.1</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Accuracy of
Representations.</font>&#160;&#160;All of the representations and warranties
made by the Seller and the Stockholder in this Agreement (considered
collectively), and each of said representations and warranties (considered
individually), shall have been accurate in all material respects as of the date
of this Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">4.2</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Performance of
Obligations</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Each
of the documents referred to in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 1.6(b)</font> shall
have been executed by each of the parties thereto and delivered to the
Purchaser.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;All
of the covenants and obligations that the Seller is required to comply with or
to perform at or prior to the Closing (considered collectively), and each of
said covenants and obligations (considered individually), shall have been duly
complied with and performed in all material respects.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">4.3</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Consents.</font>&#160;&#160;Each of
the Consents identified in Part&#160;2.16 of the Disclosure Schedule shall have
been obtained and shall be in full force and effect.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">4.4</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">No Material Adverse
Effect.</font>&#160;&#160;There shall have been no Material Adverse Effect in
the Business or the Assets since the date of this Agreement, and no event shall
have occurred and no condition or circumstance shall exist that could be
expected to give rise to any such Material Adverse Effect.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">4.5</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Additional
Documents</font>.&#160;&#160;The Purchaser shall have received the following
documents:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;each
of the Ancillary Agreements to which it is a party;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;a
copy of the resolutions duly and validly adopted by the Seller&#8217;s board of
directors and the Stockholder certified by Seller&#8217;s<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>Secretary and
Stockholder&#8217;s Secretary, respectively, authorizing and approving the execution
and delivery and performance of this Agreement, the Ancillary Agreements and the
other Transactional Agreements and the transactions contemplated hereby and
thereby and the acts of the officers and employees of the Seller in carrying out
the terms and provisions hereof;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;all
of the books, data, documents, instruments and other records relating to the
Business referred to in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section&#160;1.1(a)(iii)</font>
that have not been provided prior to the Closing Date;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;certificates
issued by the Secretary of State or other similar appropriate governmental
department, as of a reasonable date prior to the Closing, as to the good
standing of the Seller in its jurisdiction of incorporation and in each other
jurisdiction in which it is qualified to do business, and, as to its
jurisdiction of incorporation, certifying its Articles of
Incorporation;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;a
certificate of the Secretary or an Assistant Secretary of the Seller certifying
the names and signatures of the officers of the Seller authorized to sign the
Transactional Agreements;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(f)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;executed Noncompetition Agreements which agreements shall not have
been anticipatorily breached or repudiated by such parties;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(g)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;executed Confidentiality and Assignment of Inventions Agreements as set
forth in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section
4.8</font>; and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(h)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
such other documents and instruments as the Purchaser or its counsel may
reasonably request.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">4.6</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">No
Proceedings.</font>&#160;&#160;Since the date of this Agreement, there shall not
have been commenced or threatened against the Purchaser, or against any Person
affiliated with the Purchaser, any Proceeding (a)&#160;involving any material
challenge to, or seeking material damages or other material relief in connection
with, any of the Transactions, or (b)&#160;that may have the effect of
preventing, delaying, making illegal or otherwise interfering with any of the
Transactions.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">4.7</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">No
Prohibition.</font>&#160;&#160;Neither the consummation nor the performance of
any the Transactions will, directly or indirectly (with or without notice or
lapse of time), contravene or conflict with or result in a violation of, or
cause the Purchaser or any Person affiliated with the Purchaser to suffer any
adverse consequence under, any applicable Legal Requirement or
Order.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">4.8</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Confidentiality and Assignment of
Inventions Agreements.</font>&#160;&#160;The former key employees of the Seller
identified by the Purchaser and set forth on <font style="DISPLAY: inline; FONT-WEIGHT: bold">Schedule 4.8</font> hereto shall have
executed and delivered to the Purchaser the Confidentiality and Assignment of
Inventions Agreement in the form as set forth on <font style="DISPLAY: inline; FONT-WEIGHT: bold">Exhibit F</font> attached
hereto.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">4.9</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Completion of Purchaser Due Diligence
Review</font>.&#160;&#160;The Purchaser shall have completed its due diligence
investigation of the Seller and the Business with results satisfactory to the
Purchaser, in its sole discretion.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">4.10</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Noncompete
Agreements</font>.&#160;&#160;The Seller shall have provided the Purchaser with
evidence reasonably satisfactory to the Purchaser that is has terminated its
noncompete agreements with each of the Seller&#8217;s former employees listed on <font style="DISPLAY: inline; FONT-WEIGHT: bold">Schedule 1.2(a)</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">4.11</font>&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Governmental
Approvals.</font>&#160;&#160;&#160;All approvals from Governmental Bodies
required for lawful consummation of the Transactions shall have been
obtained.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">4.12</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Joint
Venture</font>.&#160;&#160;&#160;The Seller shall have delivered possession of
all of the assets related to the Joint Venture to the Purchaser, and the Seller
shall have received a waiver from Charles M. Teeter and Martha A. Teeter with
regard to the right of first refusal in Section 8.1 of the operating agreement
of the Joint Venture, as well as any applicable consents required to assign the
Joint Venture to the Purchaser.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">4.13</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Schedule 1.7</font>.&#160;&#160;The
Seller shall agree with the Purchaser on the Purchase Price allocation in
Section 1.7 of this Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">4.14</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Delivery of
Assets.</font>&#160;&#160;&#160;&#160;The Seller shall have delivered possession
of the tangible Assets to the Purchaser, and shall have made all intangible
Assets available to Purchaser.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">5.</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-VARIANT: small-caps">Conditions
      Precedent to the Obligations of Seller and
    Stockholder</font>.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Seller&#8217;s and Stockholder&#8217;s obligation to sell the Assets and to take the other
actions required to be taken by the Seller at the Closing is subject to the
satisfaction, at or prior to the Closing, of each of the following conditions by
the Purchaser (any of which may be waived by the Seller and Stockholder, in
whole or in part, in writing):</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">5.1</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Accuracy of
Representations.</font>&#160;&#160;All of the representations and warranties
made by the Purchaser in this Agreement (considered collectively), and each of
said representations and warranties (considered individually), shall have been
accurate in all material respects as of the date of this Agreement and shall be
accurate in all material respects as of the Closing as if made at the
Closing.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">5.2</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Purchaser&#8217;s Performance</font>. All
of the other covenants and obligations that the Purchaser is required to comply
with or to perform pursuant to this Agreement at or prior to the Closing
(considered collectively), and each of said covenants and obligations
(considered individually), shall have been complied with and performed in all
material respects.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">5.3</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Consideration
Shares.&#160;&#160;</font>The Purchaser shall have delivered or caused to be
delivered, the Consideration Shares as provided in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section
1.2(b)</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">5.4</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Cash
Consideration</font>.&#160;&#160;The Purchaser shall have delivered the Cash
Consideration as provided in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section
1.2(a)</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">5.5</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Completion of Seller Due Diligence
Review</font>.&#160;&#160;The Seller shall have completed its due diligence
investigation of the Purchaser with results satisfactory to the Seller, in its
sole discretion.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">5.6</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">No
Proceedings</font>.&#160;&#160;Since the date of this Agreement, there shall not
have been commenced or threatened against the Seller, or against any Person
affiliated with the Seller, any Proceeding (a)&#160;involving any material
challenge to, or seeking material damages or other material relief in connection
with, any of the Transactions, or (b)&#160;that may have the effect of
preventing, delaying, making illegal or otherwise interfering with any of the
Transactions.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">5.7</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Schedule 1.7</font>.&#160;&#160;The
Purchaser shall agree with the Seller on the Purchase Price allocation in
Section 1.7 of this Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">6.</font></font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-VARIANT: small-caps">Indemnification,
      Etc</font>.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">6.1</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Survival of Representations and
Covenants</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
representations, warranties, covenants and obligations of each party to this
Agreement shall survive (without limitation):&#160;&#160;(i) the Closing and the
sale of the Assets to the Purchaser; (ii) any sale or other disposition of any
or all of the Assets by the Purchaser; and (iii) the dissolution of either party
to this Agreement.&#160;&#160;Except as set forth in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 6.1(b)</font>, all
of said representations, warranties, covenants and obligations shall remain in
full force and effect and shall survive for a period of twenty four (24) months
following the Closing.&#160;&#160;Notwithstanding anything contained herein to
the contrary, if any claims for indemnification have been asserted in good faith
and in accordance with this Agreement with respect to an inaccuracy or breach of
such representations, warranties, covenants and obligations prior to the end of
the applicable survival period, such claims shall survive and continue in effect
until final resolution of such claims.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
representations and warranties set forth in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Sections 2.3</font>, <font style="DISPLAY: inline; TEXT-DECORATION: underline">2.11, 2.15</font>, <font style="DISPLAY: inline; TEXT-DECORATION: underline">3.2</font> and<font style="DISPLAY: inline; TEXT-DECORATION: underline"> 3.3</font> shall survive
for an unlimited period of time.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;For
purposes of this Agreement, each statement or other item of information set
forth in the Disclosure Schedule or in any update to the Disclosure Schedule
shall be deemed to be a representation and warranty made by the Seller in this
Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">6.2</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Indemnification by the
Seller</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
Seller and the Stockholder, jointly and severally, shall hold harmless and
indemnify the Purchaser and its shareholders, officers, directors, Affiliates,
employees, agents, successors and assigns (collectively, &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Purchaser
Indemnitees</font>&#8221;) from and against, and shall compensate and reimburse each
of the Purchaser Indemnitees for any Damages that are directly or indirectly
suffered or incurred by any of the Indemnitees or to which any of the
Indemnitees may otherwise become subject at any time (regardless of whether or
not such Damages relate to any third-party claim) and that arise directly or
indirectly from or as a direct or indirect result of, or are directly or
indirectly connected with:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any
Breach of any representation or warranty made by the Seller or the Stockholder
in this Agreement;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;except
as set forth in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 7.7</font>, any
Breach of any representation, warranty, statement, information or provision
contained in the Disclosure Schedule delivered to the Purchaser by or on behalf
of the Seller or any Representative of the Seller;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any
Breach of any covenant or obligation of the Seller or the Stockholder contained
in any of the Transactional Agreements;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any
Liability of the Seller or of any Related Party of the Seller, other than the
Assumed Liabilities; or</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any
claim made against the Purchaser or other Liability arising out of conduct of
the Business or the ownership or operation of the Assets prior to the Closing,
that results in the imposition on the Purchaser of any Liability of the Seller
other than the Assumed Liabilities;<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">provided</font>, <font style="DISPLAY: inline; TEXT-DECORATION: underline">however</font>, that this
<font style="DISPLAY: inline; TEXT-DECORATION: underline">Section
6.2(a)(iv)</font> shall not apply to the extent that the Purchaser seeks
indemnification for its own conduct of the Business or its ownership or
operation of the Assets&#160;after&#160;the Closing.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Except
in the case of the Seller&#8217;s Breach of the representations and warranties in
<font style="DISPLAY: inline; TEXT-DECORATION: underline">Sections 2.3, 2.11 and
2.15</font>, the Seller&#8217;s indemnification obligation for Damages shall be
limited, in the aggregate, to an amount equal to the aggregate Purchase Price
actually paid by the Purchaser.&#160;&#160;Any amounts payable by the Seller
pursuant to this <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 6.2</font> shall be
paid by the pro-rata return of the Cash Consideration, the Consideration Shares
and the Royalty Shares to the Purchaser.&#160;&#160;The portion of the amounts
payable in the Consideration Shares and the Royalty Shares shall be paid at a
per share price equal to the weighted average closing price of VUANCE&#8217;s ordinary
shares for the fifteen (15) trading days preceding such payment, subject to a
minimum of $1.25</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">6.3</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Indemnification by the
Purchaser</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
Purchaser shall hold harmless and indemnify the Seller and its shareholders,
officers, directors, Affiliates, employees, agents, successors and assigns
(collectively, &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Seller
Indemnitees</font>&#8221;) from and against, and shall compensate and reimburse each
of the Seller Indemnitees for any Damages arising from or in connection with
(regardless of whether or not such Damages relate to any third-party
claim):</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any
Breach of any representation or warranty made by the Purchaser in this
Agreement;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(ii)</font>&#160;&#160;
&#160;&#160;&#160;&#160;&#160;&#160;&#160;any Breach of any covenant or
obligation of the Purchaser contained in any of the Transactional
Agreements;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any
Liability of the Purchaser or of any Related Party of the Purchaser, other than
the Retained Liabilities; or</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any
claim made against the Seller or other Liability arising out of conduct of the
Business or the ownership or operation of the Assets following the Closing, that
results in the imposition on the Seller of any Liability of the Purchaser other
than the Excluded Liabilities;<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">provided</font>, <font style="DISPLAY: inline; TEXT-DECORATION: underline">however</font>, that this
<font style="DISPLAY: inline; TEXT-DECORATION: underline">Section
6.3(a)(iv)</font> shall not apply to the extent that the Seller seeks
indemnification for its own conduct of the Business or its ownership or
operation of the Assets&#160;prior to the Closing.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Except
in the case of willful or intentional misrepresentation or fraud by the
Purchaser, and except as set forth in Section 6.3(a)(ii) and 6.3(a)(iii) above
(to the extent such Proceeding relates to a Breach referred to in Section
6.3(a)( ii) above), the total amount of the indemnity payments that the
Purchaser may be required to make under or in connection with this Agreement
will be limited in the aggregate to $250,000.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;VUANCE
hereby guarantees the payment and performance of all of the obligations of the
Purchaser set forth in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section
6</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">6.4</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Setoff.</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;In
addition to any rights of setoff or other rights that the Purchaser or any of
the other Purchaser Indemnitees may have at common law or otherwise, the
Purchaser shall have the right to withhold and deduct any sum that may be owed
to any Purchaser Indemnitee under this <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section&#160;6</font> from
any amount otherwise payable by any Purchaser Indemnitee to the Seller or the
Stockholder.&#160;&#160;The withholding and deduction of any such sum shall
operate for all purposes as a complete discharge (to the extent of such sum) of
the obligation to pay the amount from which such sum was withheld and
deducted.</font></div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;In
addition to any rights of setoff or other rights that the Seller or any of the
other Seller Indemnitees may have at common law or otherwise, the Seller shall
have the right to withhold and deduct any sum that may be owed to any Seller
Indemnitee under this <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section&#160;6</font> from
any amount otherwise payable by any Seller Indemnitee to the
Purchaer.&#160;&#160;The withholding and deduction of any such sum shall operate
for all purposes as a complete discharge (to the extent of such sum) of the
obligation to pay the amount from which such sum was withheld and
deducted.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">6.5</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Exclusivity of Remedies; Limitation
of Damages</font>.&#160;&#160;Except as specifically set forth in this <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 6</font> or
elsewhere in this Agreement, from and after the Closing, the sole and exclusive
remedy of any Purchaser Indemnitee or Seller Indemnitee for any Damages with
respect to any and all claims arising out of or in connection with the
Transactions shall be pursuant and subject to the provisions set forth in this
<font style="DISPLAY: inline; TEXT-DECORATION: underline">Section
6</font>.&#160;&#160;No indemnified party shall be entitled to recover from the
indemnifying party any incidental, consequential, special or punitive damages;
<font style="DISPLAY: inline; FONT-STYLE: italic">provided</font> that any
incidental, consequential, special or punitive damages actually recovered by a
third party from an indemnified party entitled to indemnification under this
<font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 6</font> shall
be included in the losses recoverable by such indemnified party.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">6.6</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Notice of
Claim.</font>&#160;&#160;Upon obtaining Knowledge of facts giving rise to a
claim for indemnity, the indemnified party shall promptly notify the
indemnifying party in writing of the facts giving rise to such
claim.&#160;&#160;Such notice shall contain a brief description of the nature
and estimated amount of any claim for indemnification.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">6.7</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Defense of Third Party
Claims.</font>&#160;&#160;With respect to any claim or demand set forth in a
notice of claim relating to a third party claim, the indemnifying party may
defend (in good faith and at its expense) any such claim or demand, and the
indemnified party (at its expense) shall have the right to participate in the
defense of any such claim.&#160;&#160;So long as the indemnifying party is
defending such claim in good faith, the indemnified party shall not settle or
compromise such third party claim.&#160;&#160;If the indemnifying party does not
elect to defend any such claim, the indemnified party shall have no obligation
to do so.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">6.8</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Exercise of Remedies by Purchaser
Indemnitees other than the Purchaser.</font>&#160;&#160;No Purchaser Indemnitee
(other than the Purchaser or any of its successors or assigns) shall be
permitted to assert any indemnification claim or exercise any other remedy under
this Agreement unless the Purchaser (or any of its successors or assigns) shall
have consented to the assertion of such indemnification claim or the exercise of
such other remedy.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">7.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-VARIANT: small-caps">Certain
Covenants</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">7.1</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Further
Actions.</font>&#160;&#160;From and after the Closing Date, each party shall
execute and deliver such documents and take such other actions which may be
reasonably necessary or advisable to carry out any of the provisions hereof,
including without limitation, putting the Purchaser in possession and control of
all of the Assets, except for Sellers Receivables existing as of the Closing
Date that are at least 90 days in arrears and listed on <font style="DISPLAY: inline; FONT-WEIGHT: bold">Schedule
1.1(b)(iii)</font>.&#160;&#160;Without limiting the generality of the foregoing,
from and after the Closing Date, the Seller shall promptly remit to the
Purchaser any funds that are received by the Seller and that are included in, or
that represent payment of receivables included in, the Assets.&#160;&#160;Except
with regard to Seller&#8217;s Receivables set forth on <font style="DISPLAY: inline; FONT-WEIGHT: bold">Schedule 1.1(b)(iii)</font>, the
Seller: (a) hereby irrevocably authorizes the Purchaser, at all times on and
after the Closing Date, to endorse in the name of the Seller any check or other
instrument that is made payable to the Seller and that represents funds included
in, or that represents the payment of any receivable included in, the Assets;
and (b) hereby irrevocably nominates, constitutes and appoints the Purchaser as
the true and lawful attorney-in-fact of the Seller (with full power of
substitution) effective as of the Closing Date, and hereby authorizes the
Purchaser, in the name of and on behalf of the Seller, to execute, deliver,
acknowledge, certify, file and record any document, to institute and prosecute
any Proceeding and to take any other action (on or at any time after the Closing
Date) that the Purchaser may deem appropriate for the purpose of
(i)&#160;collecting, asserting, enforcing or perfecting any claim, right or
interest of any kind that is included in or relates to any of the Assets,
(ii)&#160;defending or compromising any claim or Proceeding relating to any of
the Assets, or (iii)&#160;otherwise carrying out or facilitating any of the
Transactions.&#160;&#160;The power of attorney referred to in the preceding
sentence is and shall be coupled with an interest and shall be irrevocable, and
shall survive the dissolution or insolvency of the Seller.&#160;&#160;From and
after the Closing Date, the Purchaser shall reasonably cooperate with the Seller
to assist the Seller with the collection of the Seller&#8217;s Receivables set forth
on <font style="DISPLAY: inline; FONT-WEIGHT: bold">Schedule
1.1(b)(iii)</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">7.2</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Publicity;
Confidentiality.</font>&#160;&#160;Each party shall ensure that, on and at all
times after the date of this Agreement: (a) no press release or other publicity
concerning any of the Transactions is issued or otherwise disseminated without
the other party&#8217;s prior written consent (except as otherwise required by law or
regulation); (b) each party continues to keep the terms of this Agreement and
the other Transactional Agreements strictly confidential; and (c) each party
keeps strictly confidential, and does not disclose to any other Person, any
non-public document or other information that relates directly or indirectly to
the business of the Seller, the Stockholder, the Purchaser or any Affiliate of
the Seller, the Stockholder or the Purchaser.</font><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">7.3</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Lock-Up.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Other
than as set forth herein, the Stockholder will not offer, sell, contract to
sell, hypothecate, pledge or otherwise dispose of (or enter into any transaction
which is designed to, or might reasonably be expected to, result in the
disposition (whether by actual disposition or effective economic disposition due
to cash settlement or otherwise) by the Seller or any Affiliate of the Seller or
any person in privity with the Seller or any Affiliate of the Seller), directly
or indirectly, or establish or increase a put equivalent position or liquidate
or decrease a call equivalent position within the meaning of Section 16 of the
Securities Exchange Act of 1934 (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Exchange
Act</font>&#8221;) with respect to, any Consideration Shares or Royalty Shares
beneficially owned, held or hereafter acquired by the
Stockholder.&#160;&#160;Beneficial ownership shall be calculated in accordance
with Section 13(d) of the Exchange Act.&#160;&#160;The prohibition under this
<font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 7.3</font>
shall not apply to a transfer by the Stockholder of the Consideration Shares or
the Royalty Shares to RENN Capital Group, Renaissance Capital Growth &amp;
Income Fund, III, Renaissance US Growth Investment Trust PLC, Global Special
Opportunities Trust PLC, Premier RENN U.S. Entrepreneurial Fund Limited, Russell
Cleveland, or to other entities controlled by Russell Cleveland (each, a &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Permitted
Transferee</font>&#8221;), provided that the such Permitted Transferee(s) agree to be
subject to the terms and conditions as set forth in this <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 7.3, Section 7.4 and
Section 7.5</font>.&#160;&#160;The Stockholder and, if transferred pursuant to
the terms and conditions set forth herein, each Permitted Transferee, agree to
execute a Share Issuance and Lockup Agreement, in the form attached hereto as
<font style="DISPLAY: inline; FONT-WEIGHT: bold">Exhibit G</font>, with (i)
prohibitions identical to those contained in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 7.3</font>, (ii)
piggyback registration rights identical to those contained in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 7.4</font>, and
(iii) rights of first refusal&#160;&#160;identical to those contained in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 7.5</font> of this
Agreement, and that such Persons represent that they are &#8220;accredited investors&#8221;
as such term is defined under Rule 501 under the Securities Act.&#160;&#160;The
Stockholder acknowledges and agrees that VUANCE will impose irrevocable
stop-transfer instructions preventing its transfer agent from effecting any
actions in violation of this <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section
7.3</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
restrictions on the transfer of the Consideration Shares and the Royalty Shares
set forth in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section
7.3(a)</font> will expire in eight equal installments, commencing with the end
of the first calendar quarter following the Closing Date and each of the seven
following calendar quarters thereafter.&#160;&#160;If any Consideration Shares
or Royalty Shares are issued after the last day of the eighth calendar quarter
following the Closing Date, such shares shall not be subject to any transfer
restrictions set forth in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section
7.3(a)</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Following
expiration of the restrictions under <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 7.3(a)</font>
pursuant to <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section
7.3(b)</font>, the Consideration Shares and the Royalty Shares may be
transferred in accordance with the limitations under Rule 144 under the
Securities Act, provided that in no event may the Stockholder transfer any of
such Consideration Shares to any of its shareholders or creditors, except as
otherwise provided herein.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">7.4</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Piggyback Registration
Rights.&#160;&#160;</font>If at any time or times after the Closing, VUANCE
shall seek to register any of its ordinary shares under the Securities Act for
sale to the public for its own account or on the account of others (except with
respect to registration statements on Form S-4, Form S-8 or another form not
available for registering the Consideration Shares or the Royalty Shares for
sale to the public), the Purchaser shall cause VUANCE to promptly give written
notice thereof to the holder(s) of the Consideration Shares and the Royalty
Shares. If within twenty (20) days after their receipt of such notice the
Stockholder requests the inclusion of some or all of the Consideration Shares or
the Royalty Shares owned by it in such registration, the Purchaser shall cause
VUANCE to use its reasonable best efforts to effect the registration under the
Securities Act of such shares.&#160;&#160;In the case of the registration of
ordinary shares by VUANCE in connection with any underwritten public offering to
which this <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section
7.4</font> applies, if the underwriter(s) determines that reasonable and
customary marketing factors require a limitation on the number of ordinary
shares of VUANCE to be offered, then VUANCE shall not be required to register
the Consideration Shares and the Royalty Shares in excess of the amount, if any,
of ordinary shares which the principal underwriter of such underwritten offering
shall reasonably and in good faith agree to include in such offering in addition
to any amount to be registered for the account of VUANCE.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">7.5</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Right of First
Refusal.&#160;&#160;</font>To the extent that and as long as the Consideration
Shares or Royalty Shares remain subject to the restrictions set forth in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 7.3(a)</font>, (i)
in the event the Stockholder wishes to sell, contract to sell, hypothecate,
pledge or otherwise dispose of (or enter into any transaction which is designed
to, or might reasonably be expected to, result in the disposition (whether by
actual disposition or effective economic disposition due to cash settlement or
otherwise) any or all of the Consideration Shares or Royalty Shares in a private
transaction (outside the Trading Market) (a &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Voluntary
Sale</font>&#8221;) or (ii) upon the occurrence of any sale by the Stockholder of such
shares due to the Stockholder's bankruptcy, insolvency or otherwise by operation
of law (together with a Voluntary Sale, a &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Sale</font>&#8221;),
the Purchaser or its Affiliates will have the right to purchase all (but not
less than all) the Consideration Shares and the Royalty Shares subject to such
Sale on the following terms and conditions:</font></div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
Stockholder will give the Purchaser prompt written notice (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Sale
Notice</font>&#8221;) of any pending Sale and the Purchaser or its Affiliates will
have ten (10) days to elect to purchase such shares.&#160;&#160;The purchase of
the Consideration Shares and the Royalty Shares held by the Stockholder must
occur within five (5) Business Days of such election at a purchase price per
share equal to the average closing price of VUANCE's ordinary shares on the
Trading Market for the fifteen (15) trading days prior to the purchase
date.&#160;&#160;The purchase price for shares acquired pursuant to this <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 7.5(a)</font> must
be paid in immediately available funds.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;This
<font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 7.5</font>
shall not apply to any transfers by the Stockholder of the Consideration Shares
or the Royalty Shares to a Permitted Transferee.&#160;&#160;Notwithstanding the
foregoing, and for avoidance of doubt, in the event the Consideration Shares or
the Royalty Shares are transferred by the Stockholder pursuant to this <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 7.5</font> to a
Permitted Transferee, then such Permitted Transferee shall be subject to the
terms and conditions set forth herein with respect to the Consideration Shares
and the Royalty Shares.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">7.6</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Access.</font>&#160;&#160;In order to
facilitate the resolution of any claims made by or against or incurred by the
Purchaser after the Closing or for any other reasonable purpose, for a period of
three (3) years following the Closing, the Seller shall (i) retain all books and
records of the Seller which are not transferred to the Purchaser pursuant to
this Agreement and which relate to the Business for periods prior to the Closing
and which shall not otherwise have been delivered to the Purchaser; and (ii)
upon reasonable notice, afford the Representatives of the Purchaser, reasonable
access (including the right to make photocopies at the expense of the
Purchaser), during normal business hours, to such books and
records.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">7.7</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Supplements to the Disclosure
Schedule</font>.&#160;&#160;Between the date hereof and the Closing Date, each
of the Seller and the Buyer shall, promptly upon becoming aware of any breach or
violation of any of its representations, warranties, covenants or agreements
contained in this Agreement, give notice to such other party with respect
thereto and supplement or amend the Disclosure Schedule provided by such party
(including adding new schedules if necessary) to reflect any fact, matter,
circumstance or event occurring after the date of this Agreement, which, if
existing or occurring prior to the date of this Agreement, would have been
required to be set forth or described in the Disclosure Schedule.&#160;&#160;Any
such notification, supplement or amendment shall be effective to amend any
representation or warranty, covenant or agreement of such party contained in
this Agreement for purposes of the indemnification rights under <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 6</font>, but shall
not be taken into account in determining whether the conditions to the parties&#8217;
obligation to consummate the transactions contemplated hereunder contained in
<font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 4.1</font> and
<font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 5.1</font>
have been fulfilled.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">7.8</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Reporting
Status</font>.&#160;&#160;So long as the Stockholder or any subsequent
transferee beneficially own an aggregate of at least 25% of the Consideration
Shares and Royalty Shares purchased pursuant to this Agreement, VUANCE shall
timely file (or obtain proper and timely extensions in respect thereof and file
within the applicable grace period under the Exchange Act) all reports required
to be filed with the Securities and Exchange Commission pursuant to the Exchange
Act, and VUANCE shall not terminate its status as an issuer required to file
reports under the Exchange Act even if the Exchange Act or the rules and
regulations thereunder would permit such termination; <font style="DISPLAY: inline; TEXT-DECORATION: underline">provided</font>, <font style="DISPLAY: inline; TEXT-DECORATION: underline">however</font>, that the
provisions of this <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 7.8</font> shall
terminate and be of no further force and effect in the event of the acquisition
of VUANCE.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">7.9</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Bulk Transfer
Laws</font>.&#160;&#160;&#160;&#160;&#160;&#160;Prior to Closing, the Seller
shall have complied with the requirements of all applicable bulk sale, bulk
transfer or similar laws in the State of Texas.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">8.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Right to
Terminate</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">8.1</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;This
Agreement may be terminated and the transactions contemplated hereby may be
abandoned at any time prior to the Closing as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;by
mutual written consent duly authorized by the parties hereto;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;by
either the Purchaser or the Seller if the Closing shall not have occurred on or
before April 3, 2009, <font style="DISPLAY: inline; TEXT-DECORATION: underline">provided</font>, <font style="DISPLAY: inline; TEXT-DECORATION: underline">however</font>, that the
right to terminate this Agreement under this <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section&#160;8.1(b)</font>
shall not be available to any party whose failure to fulfill any material
obligation under this Agreement has been the cause of, or resulted in, the
failure of the Closing to have occurred on or before such date;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;by
either the Purchaser or the Seller, if a Court or Governmental Body shall have
issued an Order or taken any other action, in each case, which has become final
and non-appealable and which restrains, enjoins or otherwise prohibits the
consummation of the transactions contemplated by this Agreement;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;by
the Purchaser, if the Purchaser is not in material breach of its obligations
under this Agreement, if at any time any of the representations and warranties
of the Seller or the Stockholder herein are or become untrue or inaccurate such
that <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section&#160;4.1</font>
would not be satisfied (treating such time as if it were the Closing for
purposes of this <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section&#160;8.1(d)</font>)
and such breach (if curable) has not been cured within 15 days after notice to
the Seller;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;by
the Seller, if the Seller is not in material breach of its obligations under
this Agreement, and if at any time the representations and warranties of the
Purchaser herein become untrue or inaccurate such that <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section&#160;5.1</font>
would not be satisfied (treating such time as if it were the Closing for
purposes of this <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section&#160;8.1(e)</font>),
and such breach (if curable) has not been cured within 15 days after notice to
the Purchaser;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(f)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;by
the Purchaser if, between the date hereof and the time scheduled for the
Closing: (A) an event or condition occurs that has resulted in or that may be
expected to result in a Material Adverse Effect on the Seller; or (B) the Seller
makes a general assignment of the Assets for the benefit of creditors, or any
proceeding shall be instituted by or against the Seller seeking to adjudicate it
a bankrupt or insolvent, or seeking liquidation, winding up or reorganization,
arrangement, adjustment, protection, relief or composition of its debts under
any Law relating to bankruptcy, insolvency or reorganization.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">8.2</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Effect of
Termination</font>.&#160;&#160;Except as provided in this <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section&#160;8.2</font>, in
the event of the termination of this Agreement pursuant to <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section&#160;8</font>, this
Agreement (other than this <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section&#160;8</font>, <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 6</font> and <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 9</font>, which
shall survive such termination) will forthwith become void, and there will be no
liability on the part of the Purchaser, on the other hand, or the Seller and the
Stockholder, on the other hand, or any of their respective officers or directors
(as the case may be), to the other parties, and all rights and obligations of
any party hereto will cease, provided, that nothing contained in this <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 8.2</font> shall
relieve any party from liability for any breach of any representation, warranty,
covenant or agreement contained in this Agreement which occurred prior to
termination of this Agreement in accordance with its terms.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">9.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-VARIANT: small-caps">Miscellaneous
Provisions</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">9.1</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Survival.</font> Each party&#8217;s
obligations and liability under this Agreement and the other Transactional
Agreements shall not be limited in any way by (i) the dissolution or insolvency
of, or the appointment of any receiver, conservator or liquidator for, or the
commencement of any bankruptcy, reorganization, moratorium, arrangement or other
proceeding by, against or with respect to, such party; (iii) any merger or
consolidation of such party with or into any other Entity; or (iv) any failure
on the part of such party to exercise any right or assert any claim against the
other party.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">9.2</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Attorneys&#8217; Fees.</font>&#160;&#160;If
any legal action or other legal proceeding relating to any of the Transactional
Agreements or the enforcement of any provision of any of the Transactional
Agreements is brought against either party to this Agreement, the prevailing
party shall be entitled to recover reasonable attorneys&#8217; fees, costs and
disbursements (in addition to any other relief to which the prevailing party may
be entitled).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">9.3</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Notices.</font>&#160;&#160;Any notice
or other communication required or permitted to be delivered to any party under
this Agreement shall be in writing and shall be deemed properly delivered, given
and received when delivered (by hand, by registered mail, by courier or express
delivery service or by facsimile) to the address or facsimile telephone number
set forth beneath the name of such party below (or to such other address or
facsimile telephone number as such party shall have specified in a written
notice given to the other parties hereto):</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">if to the
Seller:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-VARIANT: small-caps">Intelli-Site
Ltd</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2009
Chenault Drive, Suite 110</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Carrollton,
Texas 75006</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Facsimile:&#160;&#160;972-401-0444</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Attention:
President</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">if to the
Purchaser:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-VARIANT: small-caps">VUANCE,
Inc.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 144pt"></font>2010 Corporate Ridge&#160;&#160;Suite
700</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">McLean,
VA 22102-7838</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Facsimile:
917-591-2105</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Attention:
President</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">9.4</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Time of the
Essence.</font>&#160;&#160;Time is of the essence of this
Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">9.5</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Headings.</font>&#160;&#160;The
underlined headings contained in this Agreement are for convenience of reference
only, shall not be deemed to be a part of this Agreement and shall not be
referred to in connection with the construction or interpretation of this
Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">9.6</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Counterparts.</font>&#160;&#160;This
Agreement may be executed in several counterparts, each of which shall
constitute an original and all of which, when taken together, shall constitute
one agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">9.7</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Governing Law.&#160;&#160;</font>
This Agreement shall be construed in accordance with, and governed in all
respects by, the internal laws of the State of Texas (without giving effect to
principles of conflicts of laws).&#160;&#160;Any legal action brought to enforce
or construe this Agreement shall be brought in the courts located in the State
of Texas, and the Purchaser and the Seller hereby agree to the jurisdiction of
such courts and agree that they will not invoke the doctrine of <font style="DISPLAY: inline; FONT-STYLE: italic">forum non-conveniens</font> or other
similar defenses.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">9.8</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Successors and Assigns; Parties in
Interest</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;This
Agreement shall be binding upon:&#160;&#160;the Seller and its successors and
assigns (if any) and the Purchaser and its successors and assigns (if
any).&#160;&#160;This Agreement shall inure to the benefit of the Seller, the
Purchaser, the other Seller Indemnitees and Purchaser Indemnitees and the
respective successors and assigns (if any) of the foregoing.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
Purchaser may freely assign any or all of its rights under this Agreement
(including its indemnification rights under Section&#160;6) in whole or in part,
to any other Person whose total shareholders&#8217; equity is equal to or greater than
the Purchaser, without obtaining the consent or approval of any other
Person.&#160;&#160;No such assignment shall relieve the Purchaser or VUANCE of
its obligations hereunder.&#160;&#160;The Seller shall not be permitted to
assign any of his or its rights or delegate any of his or its obligations under
this Agreement without the Purchaser&#8217;s prior written consent.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Except
for the provisions of <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section&#160;6</font>
hereof, none of the provisions of this Agreement is intended to provide any
rights or remedies to any Person other than the parties to this Agreement and
their respective successors and assigns (if any).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">9.9</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Remedies Cumulative; Specific
Performance.</font>&#160;&#160;The rights and remedies of the parties hereto
shall be cumulative (and not alternative).&#160;&#160;In the event of any Breach
or threatened Breach by a party of any covenant, obligation or other provision
set forth in this Agreement, the other party shall be entitled (in addition to
any other remedy that may be available to it) to (i)&#160;a decree or order of
specific performance or mandamus to enforce the observance and performance of
such covenant, obligation or other provision, and (ii)&#160;an injunction
restraining such Breach or threatened Breach.&#160;&#160;Neither party shall be
required to provide any bond or other security in connection with any such
decree, order or injunction or in connection with any related action or
Proceeding.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">9.10</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Waiver</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;No
failure on the part of any Person to exercise any power, right, privilege or
remedy under this Agreement, and no delay on the part of any Person in
exercising any power, right, privilege or remedy under this Agreement, shall
operate as a waiver of such power, right, privilege or remedy; and no single or
partial exercise of any such power, right, privilege or remedy shall preclude
any other or further exercise thereof or of any other power, right, privilege or
remedy.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;No
Person shall be deemed to have waived any claim arising out of this Agreement,
or any power, right, privilege or remedy under this Agreement, unless the waiver
of such claim, power, right, privilege or remedy is expressly set forth in a
written instrument duly executed and delivered on behalf of such Person; and any
such waiver shall not be applicable or have any effect except in the specific
instance in which it is given.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">9.11</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Amendments.</font>&#160;&#160;This
Agreement may not be amended, modified, altered or supplemented other than by
means of a written instrument duly executed and delivered on behalf of the
Purchaser and the Seller.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">9.12</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Severability.</font>&#160;&#160;Any
term or provision of this Agreement that is invalid or unenforceable in any
situation in any jurisdiction shall not affect the validity or enforceability of
the remaining terms and provisions hereof.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">9.13</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Entire
Agreement.</font>&#160;&#160;The Transactional Agreements set forth the entire
understanding of the parties relating to the subject matter thereof and
supersede all prior agreements and understandings among or between any of the
parties relating to the subject matter thereof.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">9.14</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Knowledge.</font>&#160;&#160;For
purposes of this Agreement, the term &#8220;Knowledge&#8221; means (a) in the case of an
individual, knowledge of a particular fact or other matter if (i) such
individual is actually aware of such fact or other matter, or (ii) a prudent
individual could be expected to discover or otherwise become aware of such fact
or other matter in the course of conducting a reasonable investigation
concerning the existence of such fact or other matter, and (b) in the case of a
Person (other than an individual), such Person will be deemed to have Knowledge
of a particular fact or other matter if any individual who is serving, or has at
any time served, as a director, officer, partner, executor, or trustee of such
Person (or in any similar capacity) has, or at any time had, Knowledge of such
fact or other matter.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">9.15</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Expenses</font>.&#160;&#160;Except as
otherwise specified in this Agreement, all costs and expenses, including,
without limitation, fees and disbursements of counsel, brokers, financial
advisors and accountants, incurred in connection with this Agreement and the
transactions contemplated hereby shall be paid by the party incurring such costs
and expenses, whether or not the Closing shall have occurred.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">9.16</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Construction</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;For
purposes of this Agreement, whenever the context requires:&#160;&#160;the
singular number shall include the plural, and vice versa; the masculine gender
shall include the feminine and neuter genders; the feminine gender shall include
the masculine and neuter genders; and the neuter gender shall include the
masculine and feminine genders.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
parties hereto agree that any rule of construction to the effect that
ambiguities are to be resolved against the drafting party shall not be applied
in the construction or interpretation of this Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;As
used in this Agreement, the words &#8220;include&#8221; and &#8220;including,&#8221; and variations
thereof, shall not be deemed to be terms of limitation, but rather shall be
deemed to be followed by the words &#8220;without limitation.&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Except
as otherwise indicated, all references in this Agreement to &#8220;Sections&#8221; and
&#8220;Exhibits&#8221; are intended to refer to Sections of this Agreement and Exhibits to
this Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">IN
WITNESS WHEREOF, the parties to this Agreement have caused this Agreement to be
executed and delivered as of March 6th, 2009.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div align="left">
        <div align="left">
          <div align="left">
            <div align="left">
              <div align="left">
                <div align="left">
                  <div align="left">
                    <div align="left">
                      <div align="left">
                        <div align="left">
                          <table cellpadding="0" cellspacing="0" width="100%">
                              <tr>
                                <td align="left" valign="top" width="50%">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-VARIANT: small-caps">SELLER:</font></div>
                                </td>
                                <td align="left" colspan="2" valign="top" width="50%">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-VARIANT: small-caps">Intelli-Site
      Ltd.</font></div>
                                </td>
                              </tr>
                              <tr>
                                <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td colspan="2" valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              </tr>
                              <tr>
                                <td valign="top" width="50%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td align="left" valign="top" width="4%" style="PADDING-BOTTOM: 2px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">By:</font></div>
                                </td>
                                <td align="left" valign="top" width="46%" style="PADDING-LEFT: 0pt; BORDER-BOTTOM: black 2px solid">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">/s/
      Giovanni M. Ulibarri</font></div>
                                </td>
                              </tr>
                              <tr>
                                <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td colspan="2" valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              </tr>
                              <tr>
                                <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td align="left" colspan="2" valign="top" width="50%">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Name:
      Giovanni M. Ulibarri</font></div>
                                </td>
                              </tr>
                              <tr>
                                <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td colspan="2" valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              </tr>
                              <tr>
                                <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td align="left" colspan="2" valign="top" width="50%">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Title:
      <font style="DISPLAY: inline; TEXT-DECORATION: underline">President and
      CEO, Secretary</font></font></div>
                                </td>
                              </tr>
                              <tr>
                                <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td colspan="2" valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              </tr>
                              <tr>
                                <td align="left" valign="top" width="50%">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-VARIANT: small-caps">PURCHASER:</font></div>
                                </td>
                                <td align="left" colspan="2" valign="top" width="50%">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-VARIANT: small-caps">VUANCE,
      Inc.</font></div>
                                </td>
                              </tr>
                              <tr>
                                <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td colspan="2" valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              </tr>
                              <tr>
                                <td valign="top" width="50%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td align="left" valign="top" width="4%" style="PADDING-BOTTOM: 2px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">By:</font></div>
                                </td>
                                <td align="left" valign="top" width="46%" style="PADDING-LEFT: 0pt; BORDER-BOTTOM: black 2px solid">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">/s/
      Eyal Tuchman</font></div>
                                </td>
                              </tr>
                              <tr>
                                <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td colspan="2" valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              </tr>
                              <tr>
                                <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td align="left" colspan="2" valign="top" width="50%">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Name:
      Eyal Tuchman</font></div>
                                </td>
                              </tr>
                              <tr>
                                <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td colspan="2" valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              </tr>
                              <tr>
                                <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td align="left" colspan="2" valign="top" width="50%">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Title:
      <font style="DISPLAY: inline; TEXT-DECORATION: underline">Chief Executive
      Officer</font></font></div>
                                </td>
                              </tr>
                              <tr>
                                <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td colspan="2" valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              </tr>
                              <tr>
                                <td align="left" valign="top" width="50%">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-VARIANT: small-caps">STOCKHOLDER:</font></div>
                                </td>
                                <td align="left" colspan="2" valign="top" width="50%">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-VARIANT: small-caps">Integrated
      Security Systems, Inc.</font></div>
                                </td>
                              </tr>
                              <tr>
                                <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td colspan="2" valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              </tr>
                              <tr>
                                <td valign="top" width="50%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td align="left" valign="top" width="4%" style="PADDING-BOTTOM: 2px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">By:</font></div>
                                </td>
                                <td align="left" valign="top" width="46%" style="PADDING-LEFT: 0pt; BORDER-BOTTOM: black 2px solid">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">/s/
      Brooks Sherman</font></div>
                                </td>
                              </tr>
                              <tr>
                                <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td colspan="2" valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              </tr>
                              <tr>
                                <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td align="left" colspan="2" valign="top" width="50%">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Name:
      Brooks Sherman</font></div>
                                </td>
                              </tr>
                              <tr>
                                <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td colspan="2" valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              </tr>
                              <tr>
                                <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td align="left" colspan="2" valign="top" width="50%">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Title:
      <font style="DISPLAY: inline; TEXT-DECORATION: underline">Chief Executive
      Officer</font></font></div>
                                </td>
                              </tr>
                              <tr>
                                <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td colspan="2" valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              </tr>
                              <tr>
                                <td valign="top" width="50%">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">VUANCE
      LTD.</font></div>
                                </td>
                                <td colspan="2" valign="top" width="50%">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-VARIANT: small-caps">VUANCE
      Ltd.</font></div>
                                </td>
                              </tr>
                              <tr>
                                <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td colspan="2" valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              </tr>
                              <tr>
                                <td valign="top" width="50%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td align="left" valign="top" width="4%" style="PADDING-BOTTOM: 2px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">By:</font></div>
                                </td>
                                <td align="left" valign="top" width="46%" style="PADDING-LEFT: 0pt; BORDER-BOTTOM: black 2px solid">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">/s/
      Eyal Tuchman</font></div>
                                </td>
                              </tr>
                              <tr>
                                <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td colspan="2" valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              </tr>
                              <tr>
                                <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td align="left" colspan="2" valign="top" width="50%">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Name:
      Eyal Tuchman</font></div>
                                </td>
                              </tr>
                              <tr>
                                <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td colspan="2" valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                              </tr>
                              <tr>
                                <td valign="top" width="50%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                <td align="left" colspan="2" valign="top" width="50%">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Title:
      <font style="DISPLAY: inline; FONT-STYLE: normal; TEXT-DECORATION: underline">Chief
      Executive
Officer</font></font></div>
                                </td>
                              </tr>
                          </table>
                        </div>
                      </div>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-VARIANT: small-caps">Exhibit
A</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CERTAIN
DEFINITIONS</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
addition to terms defined elsewhere in the Agreement, the following terms when
used in the Agreement shall have the respective meanings set forth
below:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Affiliate</font>.&#160;&#160;"Affiliate"
shall mean, with respect to a Person other than a natural Person, any Person
that directly or indirectly Controls, is directly or indirectly Controlled by or
is directly or indirectly under common Control with such specified
Person.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Agreement.</font>&#160;&#160;&#8220;Agreement&#8221;
shall mean the Asset Purchase Agreement to which this Exhibit A is attached
(including the Disclosure Schedule), as it may be amended from time to
time.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Ancillary
Agreements</font>.&#160;&#160;&#8220;Ancillary Agreements&#8221; shall mean the Bill of
Sale, the Non-Competition Agreement, the Assumption Agreement, the Offer
Letters, the Confidentiality and Assignment of Inventions Agreement and such
additional documents as set forth in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 4.5</font> of the
Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Approvals</font>.&#160;&#160;&#8220;Approvals&#8221;
shall mean all franchises, grants, authorizations, licenses, permits, easements,
consents, waivers, qualifications, certificates, and approvals necessary to own,
lease and operate the Seller&#8217;s properties and to carry on the
Business.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Breach.</font>&#160;&#160;There shall
be deemed to be a &#8220;Breach&#8221; of a representation, warranty, covenant, obligation
or other provision if there is or has been (a)&#160;any inaccuracy in or breach
(including any inadvertent or innocent breach) of, or any failure (including any
inadvertent failure) to comply with or perform, such representation, warranty,
covenant, obligation or other provision, or (b)&#160;any claim (by any Person)
or other circumstance that is inconsistent with such representation, warranty,
covenant, obligation or other provision; and the term &#8220;Breach&#8221; shall be deemed
to refer to any such inaccuracy, breach, failure, claim or
circumstance.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Business
Day</font>.&#160;&#160;&#8220;Business Day&#8221; means any day other than a Saturday,
Sunday or other day on which banks are required or authorized to be closed in
the State of Delaware.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Code.</font>&#160;&#160;&#8220;Code&#8221; shall
mean the Internal Revenue Code of 1986, as amended.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Consent.</font>&#160;&#160;&#8220;Consent&#8221;
shall mean any approval, consent, ratification, permission, waiver or
authorization (including any Governmental Authorization).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Contract.</font>&#160;&#160;&#8220;Contract&#8221;
shall mean any written, oral, implied or other agreement, contract,
understanding, arrangement, instrument, note, guaranty, indemnity,
representation, warranty, deed, assignment, power of attorney, certificate,
purchase order, work order, insurance policy, benefit plan, commitment,
covenant, assurance or undertaking of any nature set forth on <font style="DISPLAY: inline; FONT-WEIGHT: bold">Schedule
1.1(a)(iv)</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Control</font>.&#160;&#160;"Control"
(including the terms &#8220;Controlled by&#8221; and &#8220;under common Control with&#8221;) means
possession, directly or indirectly, of the power to direct or cause the
direction of management or policies (whether through ownership of securities or
partnership or other ownership interests, by contract or
otherwise).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Damages.</font>&#160;&#160;&#8220;Damages&#8221;
shall include any loss, damage, injury, decline in value, lost opportunity,
Liability, claim, demand, settlement, judgment, award, fine, penalty, Tax, fee
(including any legal fee, expert fee, accounting fee or advisory fee), charge,
cost (including any cost of investigation) or expense of any
nature.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Disclosure
Schedule.</font>&#160;&#160;&#8220;Disclosure Schedule&#8221; shall mean the schedule (dated
as of the date of the Agreement and as amended from time to time pursuant to
<font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 7.7</font>)
delivered to the Purchaser on behalf of the Seller, a copy of which is attached
to the Agreement and incorporated in the Agreement by reference.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Encumbrance.</font>&#160;&#160;&#8220;Encumbrance&#8221;
shall mean any lien, pledge, hypothecation, charge, mortgage, security interest,
encumbrance, equity, trust, equitable interest, claim, preference, right of
possession, lease, tenancy, license, encroachment, covenant, infringement,
interference, Order, proxy, option, right of first refusal, preemptive right,
community property interest, legend, defect, impediment, exception, reservation,
limitation, impairment, imperfection of title, condition or restriction of any
nature (including any restriction on the transfer of any asset, any restriction
on the receipt of any income derived from any asset, any restriction on the use
of any asset and any restriction on the possession, exercise or transfer of any
other attribute of ownership of any asset).</font></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Entity.</font>&#160;&#160;&#8220;Entity&#8221;
shall mean any corporation (including any non-profit corporation), general
partnership, limited partnership, limited liability partnership, joint venture,
estate, trust, cooperative, foundation, society, political party, union, company
(including any limited liability company or joint stock company), firm or other
enterprise, association, organization or entity.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">GAAP.</font>&#160;&#160;&#8220;GAAP&#8221; shall
mean generally accepted accounting principles.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Governmental
Authorization.</font>&#160;&#160;&#8220;Governmental Authorization&#8221; shall mean any:
(a) permit, license, certificate, franchise, concession, approval, consent,
ratification, permission, clearance, confirmation, endorsement, waiver,
certification, designation, rating, registration, qualification or authorization
issued, granted, given or otherwise made available by or under the authority of
any Governmental Body or pursuant to any Legal Requirement; or (b) right under
any Contract with any Governmental Body.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Governmental
Body.</font>&#160;&#160;&#8220;Governmental Body&#8221; shall mean any: (a) nation,
principality, state, commonwealth, province, territory, county, municipality,
district or other jurisdiction of any nature; (b) federal, state, local,
municipal, foreign or other government; (c) governmental or quasi-governmental
authority of any nature (including any governmental division, subdivision,
department, agency, bureau, branch, office, commission, council, board,
instrumentality, officer, official, representative, organization, unit, body or
Entity and any court or other tribunal); (d) multi-national organization or
body; or (e) individual, Entity or body exercising, or entitled to exercise, any
executive, legislative, judicial, administrative, regulatory, police, military
or taxing authority or power of any nature.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-WEIGHT: bold">Hardware.&#160;&#160;</font>&#8220;Hardware&#8221;
means all mainframes, midrange computers, personal computers, notebooks,
servers, switches, printers, modems, drives, peripherals and any component of
any of the foregoing.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Immaterial
Contract.</font>&#160;&#160;&#8220;Immaterial Contract&#8221; shall mean any Contract
that:&#160;&#160;(a)&#160;was entered into by the Seller in the Ordinary Course
of Business; (b)&#160;&#160;has a term of less than ninety (90) days or may be
terminated by the Seller (without penalty) within thirty (30) days after the
delivery of a termination notice by the Seller to the other party thereto; and
(b)&#160;does not contemplate or involve the payment of cash or other
consideration in an amount or having a value in excess of $5,000.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-WEIGHT: bold">Information
Systems.&#160;&#160;</font>&#8220;Information Systems&#8221; means any combination of
Hardware, Software and/or Database(s) employed primarily for the creation,
manipulation, storage, retrieval, display and use of information in electronic
form or media.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Intellectual
Property.&#160;&#160;</font>&#8220;Intellectual Property&#8221; shall mean and include all
algorithms, application programming interfaces, apparatus, assay components,
biological materials, cell lines, clinical data, chemical compositions or
structures, circuit designs and assemblies, databases and data collections,
diagrams, formulae, gate arrays, IP cores, inventions (whether or not
patentable), know-how, logos, marks (including brand names, product names,
logos, and slogans), methods, network configurations and architectures, net
lists, photomasks, processes, proprietary information, protocols, schematics,
specifications, software, software code (in any form including source code and
executable or object code), subroutines, test results, test vectors, user
interfaces, techniques, URLs, web sites, works of authorship, and other forms of
technology (whether or not embodied in any tangible form and including all
tangible embodiments of the foregoing such as instruction manuals, laboratory
notebooks, prototypes, samples, studies, and summaries).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Intellectual Property
Rights.&#160;&#160;</font>&#8220;Intellectual Property Rights&#8221; shall mean and include
all rights of the following types, which may exist or be created under the laws
of any jurisdiction in the world: (a) rights associated with works of
authorship, including exclusive exploitation rights, copyrights, moral rights,
and mask works; (b)&#160;trademark and trade name rights and similar rights; (c)
trade secret rights; (d) patents and industrial property rights; (e) other
proprietary rights in Intellectual Property of every kind and nature; and (f)
all registrations, renewals, extensions, continuations, divisions, or reissues
of, and applications for, any of the rights referred to in clauses (a) through
(e) above.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Intelli-Site Software.
</font>"Intelli-Site Software" shall mean any Software that incorporates, uses,
or is derived from the Seller IP.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Legal
Requirement.</font>&#160;&#160;&#8220;Legal Requirement&#8221; shall mean any federal,
state, local, municipal, foreign or other law, statute, legislation,
constitution, principle of common law, resolution, ordinance, code, edict,
decree, proclamation, treaty, convention, rule, regulation, ruling, directive,
pronouncement, requirement, specification, determination, decision, opinion or
interpretation issued, enacted, adopted, passed, approved, promulgated, made,
implemented or otherwise put into effect by or under the authority of any
Governmental Body.</font></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Liability.</font>&#160;&#160;&#8220;Liability&#8221;
shall mean any debt, obligation, duty or liability of any nature (including any
unknown, undisclosed, unmatured, unaccrued, unasserted, contingent, indirect,
conditional, implied, vicarious, derivative, joint, several or secondary
liability), regardless of whether such debt, obligation, duty or liability would
be required to be disclosed on a balance sheet prepared in accordance with
generally accepted accounting principles and regardless of whether such debt,
obligation, duty or liability is immediately due and payable.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Material Adverse
Effect</font>.&#160;&#160;&#8220;Material Adverse Effect&#8221; means, with respect to any
Person, any fact, event, change, circumstance or effect that is materially
adverse to the business, condition (financial or otherwise), operations, results
of operations, assets, liabilities or prospects of such Person.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Net Revenues</font>. &#8220;Net Revenues&#8221;
shall mean shall mean gross sales revenues and fees received by the Purchaser
from sales of the Royalty Product, determined in accordance with U.S. GAAP, less
(i) customary trade, quantity, or cash discounts to the extent actually allowed
and taken; (ii) amounts repaid or credited by reason of rejection or return; and
(iii) to the extent separately stated on purchase orders, invoices, or other
documents of sale, any taxes or other governmental charges levied on the
production, sale, transportation, delivery, or use of a Royalty
Product.&#160;&#160;In the event that the Purchaser sells a Royalty Product in
combination with another one of its products (&#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Other
Items</font>&#8221;), the Net Revenues for purposes of royalty payments under Section
1.2(c) shall be calculated as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;If
all Royalty Products and Other Items contained in the combination are available
separately, the Net Revenues for purposes of royalty payments will be calculated
by multiplying the Net Revenues of the combination by the fraction A/A+B, where
A is the separately available price of all Royalty Products in the combination,
and B is the separately available price for all Other Items in the
combination.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;If
the combination includes Other Items which are not sold separately (but all
Royalty Products contained in the combination are available separately), the Net
Revenues for purposes of royalty payments will be calculated by multiplying the
Net Revenues of the combination by A/C, where A is as defined above and C is the
invoiced price of the combination.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;If
the Royalty Products contained in the combination are not sold separately, the
parties agree to negotiate a reduction in the royalty rate to reflect the fair
value that the Royalty Product attributed to the overall product sold, but in no
event shall the royalty rates be reduced by greater than fifty percent
(50%).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Open Source Code. </font>&#8220;Open Source
Code&#8221; shall mean any software code that is licensed under any terms (including,
without limitation, any &#8220;copyleft&#8221; terms related to licenses such as the GNU
Public License, Lesser GNU Public License, or Mozilla Public License) that (i)
impose or could impose a requirement or condition that any Seller Product or
part thereof (A) be disclosed or distributed in source code form, (B) be
licensed for the purpose of making modifications or derivative works, or (C) be
redistributable at no charge, or (ii) otherwise impose or could impose any other
material limitation, restriction, or condition on the right or ability of the
Seller to use or distribute any Seller Product.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Order.</font>&#160;&#160;&#8220;Order&#8221;
shall mean any: (a) order, judgment, injunction, edict, decree, ruling,
pronouncement, determination, decision, opinion, verdict, sentence, subpoena,
writ or award issued, made, entered, rendered or otherwise put into effect by or
under the authority of any court, administrative agency or other Governmental
Body or any arbitrator or arbitration panel; or (b) Contract with any
Governmental Body entered into in connection with any Proceeding.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Ordinary Course of
Business.</font>&#160;&#160;An action taken by or on behalf of the Seller shall
not be deemed to have been taken in the &#8220;Ordinary Course of Business&#8221;
unless:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;such
action is recurring in nature, is consistent with the past practices of the
Seller and is taken in the ordinary course of the normal day-to-day operations
of the Seller;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;such
action is taken in accordance with sound and prudent business practices;
and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;such
action is not required to be authorized by the shareholders of the Seller, the
board of directors of the Seller or any committee of the board of directors of
the Seller and does not require any other separate or special authorization of
any nature.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Person.</font>&#160;&#160;&#8220;Person&#8221;
shall mean any individual, Entity or Governmental Body.</font></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Personal
Data</font>.&#160;&#160;&#8220;Personal Data&#8221; shall mean a natural person&#8217;s name,
street address, telephone number, e-mail address, photograph, social security
number, driver&#8217;s license number, passport number, or customer or account number,
or any other piece of information that allows the identification of a natural
person.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-WEIGHT: bold">Post-Closing Tax
Period.&#160;&#160;</font>&#8220;Post-Closing Tax Period&#8221; shall mean the period
beginning at 12:01 am EST on the day immediately following the Closing Date and
continuing thereafter.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Pre-Closing
Period.</font>&#160;&#160;&#8220;Pre-Closing Period&#8221; shall mean the period from the
date of the Agreement through the Closing Date.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Pre-Closing Tax
Period.&#160;&#160;</font>&#8220;Pre-Closing Tax Period&#8221; shall mean the period
beginning with the date of incorporation of the Seller, and ending at midnight
EST on the Closing Date.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Proceeding.</font>&#160;&#160;&#8220;Proceeding&#8221;
shall mean any action, suit, litigation, arbitration, proceeding (including any
civil, criminal, administrative, investigative or appellate proceeding and any
informal proceeding), prosecution, contest, hearing, inquiry, inquest, audit,
examination or investigation commenced, brought, conducted or heard by or
before, or otherwise involving, any Governmental Body or any arbitrator or
arbitration panel.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Receivables</font>.&#160;&#160;&#8220;Receivables&#8221;
means any and all accounts receivable, notes, book debts and other amounts due
or accruing due to the Seller in connection with the Business, whether or not in
the ordinary course, together with any unpaid financing charges accrued thereon
and the benefit of all security for such accounts, notes and debts.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Registered
IP.&#160;&#160;</font>&#8220;Registered IP&#8221; shall mean all Intellectual Property
Rights that are registered, filed, or issued under the authority of any
Governmental Body, including all patents, registered copyrights, registered mask
works, and registered trademarks and all applications for any of the
foregoing.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Related Party.</font>&#160;&#160;Each
of the following shall be deemed to be a &#8220;Related Party&#8221;: (a) each individual
who is, or who has at any time been, an officer of the Seller; (b) each member
of the family of each of the individuals referred to in clause &#8220;(a)&#8221; above; and
(c) any Entity (other than the Seller) in which any one of the individuals
referred to in clauses &#8220;(a)&#8221; and &#8220;(b)&#8221; above holds or held (or in which more
than one of such individuals collectively hold or held), beneficially or
otherwise, a controlling interest or a material voting, proprietary or equity
interest.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Representatives.</font>&#160;&#160;&#8220;Representatives&#8221;
shall mean officers, directors, employees, agents, attorneys, accountants,
advisors and representatives.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Royalty Products. </font>"Royalty
Products" shall mean MASC products and any other products that incorporate,
utilize, or are derived from the Intelli-Site Software,<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>except for products
represented by purchase orders received prior to the Closing Date but not
delivered to the customer until after the Closing Date in which the customer has
already purchased the Intelli-Site Software. Notwithstanding the foregoing,
Royalty Products shall not include revenues received from sales of Hardware or
Software purchased by Purchaser or VUANCE from third parties, which were neither
designed by VUANCE, nor developed or produced solely for Purchaser or VUANCE,
and resold to customers by Purchaser or VUANCE without material
modification.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Seller Employee
Plan.&#160;&#160;</font> &#8220;Seller Employee Plan&#8221; shall mean any plan, program,
policy, practice, Contract or other arrangement providing for compensation,
severance, termination pay, deferred compensation, performance awards, stock or
stock-related awards, fringe benefits or other employee benefits or remuneration
of any kind, whether written, unwritten or otherwise, funded or unfunded,
including each &#8220;employee benefit plan,&#8221; within the meaning of Section 3(3) of
the Employee Retirement Income Security Act of 1974, as amended (whether or not
such Act is applicable to such plan), that is or has been maintained,
contributed to, or required to be contributed to, by the Seller or any Affiliate
of the Seller for the benefit of any current or former employee, independent
contractor or director of the Seller or any Affiliate of the Seller, or with
respect to which the Seller or any Affiliate of the Seller has or may have any
liability or obligation.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-WEIGHT: bold">Seller IP.&#160;&#160;</font>&#8220;Seller
IP&#8221;<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>shall<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>mean (a) all
Intellectual Property Rights in or pertaining to the Seller Products or methods
or processes used to manufacture the Seller Products, and (b) all other
Intellectual Property Rights owned by or exclusively licensed to the Seller that
relate to the Business.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Seller IP Contract. </font>&#8220;Seller IP
Contract&#8221; shall mean any Contract to which the Seller is a party or by which the
Seller is bound, that contains any assignment or license of, or covenant not to
assert or enforce, any Intellectual Property Right or that otherwise relates to
any Seller IP or any Intellectual Property developed by, with, or for the
Seller.</font></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-WEIGHT: bold">Seller Privacy Policy. </font>&#8220;Seller
Privacy Policy&#8221; shall mean each external or internal, past or present privacy
policy of the Seller, including any policy relating to (i) the privacy of users
of the Seller Products or of any Seller Website, (ii) the collection, storage,
disclosure, and transfer of any User Data or Personal Data, and (iii) any
employee information.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Seller
Product.&#160;&#160;</font>&#8220;Seller Product&#8221; shall mean any product or service
designed, developed, manufactured, marketed, distributed, provided, licensed, or
sold at any time by the Seller that relates to the Business.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Seller WebSite. </font>&#8220;Seller
WebSite&#8221; shall mean any public or private website owned, maintained, or operated
at any time by or on behalf of the Seller.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-WEIGHT: bold">Software.&#160;&#160;</font>&#8220;Software&#8221;
means any and all (a) computer programs, including any and all software
implementations of algorithms, models and methodologies, whether in source code
or object code, (b) databases and compilations, including any and all data and
collections of data, whether machine readable or otherwise, (c) descriptions,
flow-charts and other work product used to design, plan, organize and develop
any of the foregoing, (d) the technology supporting any Internet site(s)
operated by or on behalf of Seller and (e) all documentation, including user
manuals and training materials, relating to any of the foregoing.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Tax.</font>&#160;&#160;&#8220;Tax&#8221; shall
mean any tax (including any income tax, franchise tax, capital gains tax,
estimated tax, gross receipts tax, value-added tax, surtax, excise tax, ad
valorem tax, transfer tax, stamp tax, sales tax, use tax, property tax, business
tax, occupation tax, inventory tax, occupancy tax, withholding tax or payroll
tax), levy, assessment, tariff, impost, imposition, toll, duty (including any
customs duty), deficiency or fee, and any related charge or amount (including
any fine, penalty or interest), that is, has been or may in the future be
(a)&#160;imposed, assessed or collected by or under the authority of any
Governmental Body, or (b)&#160;payable pursuant to any tax-sharing agreement or
similar contract.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Tax Return.</font>&#160;&#160;&#8220;Tax
Return&#8221; shall mean any return (including any information return), report,
statement, declaration, estimate, schedule, notice, notification, form,
election, certificate or other document or information that is, has been or may
in the future be filed with or submitted to, or required to be filed with or
submitted to, any Governmental Body in connection with the determination,
assessment, collection or payment of any Tax or in connection with the
administration, implementation or enforcement of or compliance with any Legal
Requirement relating to any Tax.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Trading Market. </font>&#8220;Trading
Market&#8221; shall mean the NASDAQ Capital Market.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Transactional
Agreements</font>.&#160;&#160;&#8220;Transactional Agreements&#8221; shall mean: (a) the
Agreement; (b) the Noncompetition Agreement referred to in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section&#160;1.7(b)(ii)</font>;
and (c) any other agreements attached to or referenced as an Exhibit to the
Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Transactions.</font>&#160;&#160;&#8220;Transactions&#8221;
shall mean (a)&#160;the execution and delivery of the respective Transactional
Agreements, (b)&#160;any of the Ancillary Agreements and the Schedules and
Exhibits hereto and thereto, (c) the Disclosure Schedules, and (d) the other
agreements, documents and instruments executed in connection
herewith.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">User Data</font>.&#160;&#160;&#8220;User
Data&#8221; shall mean any Personal Data or other data or information collected by or
on behalf of the Seller from users of the Seller Products or of any Seller
Website.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-WEIGHT: bold">Working
Capital</font>.&#160;&#160;&#8220;Working Capital&#8221; shall mean all accounts receivable
relating to the Business (excluding any accounts receivable set forth on <font style="DISPLAY: inline; FONT-WEIGHT: bold">Schedule 1.1(b)(iii)</font>) plus
other current assets relating to the Business (excluding assets relating to the
Joint Venture) less all accounts payable relating to the Business (excluding any
accounts payable set forth on <font style="DISPLAY: inline; FONT-WEIGHT: bold">Schedule 1.2(b)</font> and any
accounts payable relating to the Joint Venture) less current accrued liabilities
relating to the Business.</font></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">EXHIBIT
LIST</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EXHIBIT A
&#8211; DEFINITIONS</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EXHIBIT B
&#8211; FORM OF BILL OF SALE</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EXHIBIT C
- - FORM OF NONCOMPETITION AGREEMENT</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EXHIBIT D
- - FORM OF ASSUMPTION AGREEMENT</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EXHIBIT E
&#8211; FORM OF OFFER LETTER</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EXHIBIT F
&#8211; FORM OF CONFIDENTIALITY AND ASSIGNMENT OF INVENTIONS AGREEMENT</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EXHIBIT G
&#8211; FORM OF LOCKUP AGREEMENT</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">SCHEDULE
LIST</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Schedule
1.1(a)(i) &#8211; Intellectual Property</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Schedule
1.1(a)(iv) - Contracts</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Schedule
1.1(a)(v) &#8211; Excepted Equipment</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Schedule
1.1(a)(vi) &#8211; Personal Property Leases</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Schedule
1.1(a)(xiv) &#8211; Joint Venture</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Schedule
1.1(b)(iii) &#8211; Seller&#8217;s Receivables</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Schedule
1.2(a) &#8211; Employee Information and liabilities of the Joint Venture</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Schedule
1.2(b) &#8211; Accounts Payable</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Schedule
1.7 &#8211; Purchase Price Allocation</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Schedule
4.8 &#8211; Former Key Employees</font></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
      <div id="PN">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.1
<SEQUENCE>6
<FILENAME>v153517_ex12-1.htm
<TEXT>
<html>
  <head>
    <title></title>
    <!--Licensed to: Vintage Filings-->
    <!--Document Created using EDGARizer 4.0.6.4-->
    <!--Copyright 1995 - 2008 EDGARfilings, Ltd., an IEC company. All rights reserved-->
    </head>
    <body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
12.1&#160;&#160;&#160;&#160; </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CERTIFICATION
OF CHIEF EXECUTIVE OFFICER PURSUANT TO</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">SECTION&#160;302(a) OF THE
SARBANES-OXLEY ACT OF 2002</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">I, Eyal
Tuchman, certify that:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.&#160;&#160;I
have reviewed this annual report on Form 20-F of Vuance Ltd.;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.&#160;&#160;Based
on my knowledge, this report does not contain any untrue statement of a material
fact or omit to state a material fact necessary to make the statements made, in
light of the circumstances under which such statements were made, not misleading
with respect to the period covered by this report;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.&#160;&#160;Based
on my knowledge, the financial statements, and other financial information
included in this report, fairly present in all material respects the financial
condition, results of operations and cash flows of the registrant as of, and
for, the periods presented in this report;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.&#160;&#160;The
Company&#8217;s other certifying officer(s) and I are responsible for establishing and
maintaining disclosure controls and procedures (as defined in Exchange Act Rules
13a-15(e) and 15d-15(e)) and internal control over financial reporting (as
defined in Exchange Act Rules 13a-15(f) and 15(d)-15(f)) for the Company and
have:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a)&#160;&#160;Designed
such disclosure controls and procedures, or caused such disclosure controls and
procedures to be designed under our supervision,&#160;to ensure that material
information relating to the Company, including its consolidated subsidiaries, is
made known to us by others within those entities, particularly during the period
in which this report is being prepared;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b)&#160;&#160;(Omitted
in accordance with the guidance of SEC Release No. 33-8545.)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">c)&#160;&#160;Evaluated
the effectiveness of the Company&#8217;s disclosure controls and procedures and
presented in this report our conclusions about the effectiveness of the
disclosure controls and procedures, as of the end of the period covered by this
report based on such evaluation; and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">d)&#160;&#160;Disclosed
in this report any change in the Company&#8217;s internal control over financial
reporting that occurred during the period covered by the annual report that has
materially affected, or is reasonably likely to materially affect the Company&#8217;s
internal control over the financial reporting; and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.&#160;&#160;The
Company&#8217;s other certifying officer(s) and I have disclosed, based on our most
recent evaluation of internal control over financial reporting, to the Company&#8217;s
auditors and the audit committee of the Company&#8217;s Board of Directors (or persons
performing the equivalent functions):</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a)&#160;&#160;All
significant deficiencies and material weaknesses in the design or operation of
internal control over financial reporting which are reasonably likely to
adversely affect the registrant&#8217;s ability to record, process, summarize and
report financial information; and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b)&#160;&#160;Any
fraud, whether or not material, that involves management or other employees who
have a significant role in the registrant&#8217;s internal control over financial
reporting.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:
June 30, 2009</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <table cellpadding="0" cellspacing="0" width="100%">
            <tr>
              <td align="left" valign="top" width="35%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">/s/ Eyal Tuchman</font></font></div>
              </td>
              <td valign="top" width="65%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr>
            <tr>
              <td align="left" valign="top" width="35%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Eyal
      Tuchman</font></div>
              </td>
              <td valign="top" width="65%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr>
            <tr>
              <td align="left" valign="top" width="35%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Chief
      Executive Officer</font></div>
              </td>
              <td valign="top" width="65%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr>
        </table>
      </div>
    </div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
      <div id="PN">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
    </div><br>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.2
<SEQUENCE>7
<FILENAME>v153517_ex12-2.htm
<TEXT>
<html>
  <head>
    <title></title>
    <!--Licensed to: Vintage Filings-->
    <!--Document Created using EDGARizer 4.0.6.4-->
    <!--Copyright 1995 - 2008 EDGARfilings, Ltd., an IEC company. All rights reserved-->
    </head>
    <body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
12.2&#160;&#160;&#160;&#160; </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CERTIFICATION
OF CHIEF FINANCIAL OFFICER PURSUANT TO</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">SECTION&#160;302(a) OF THE
SARBANES-OXLEY ACT OF 2002</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">I, Lior
Maza, certify that:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.&#160;&#160;I
have reviewed this annual report on Form 20-F of Vuance Ltd.;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.&#160;&#160;Based
on my knowledge, this report does not contain any untrue statement of a material
fact or omit to state a material fact necessary to make the statements made, in
light of the circumstances under which such statements were made, not misleading
with respect to the period covered by this report;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.&#160;&#160;Based
on my knowledge, the financial statements, and other financial information
included in this report, fairly present in all material respects the financial
condition, results of operations and cash flows of the registrant as of, and
for, the periods presented in this report;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.&#160;&#160;The
Company&#8217;s other certifying officer(s) and I are responsible for establishing and
maintaining disclosure controls and procedures (as defined in Exchange Act Rules
13a-15(e) and 15d-15(e)) and internal control over financial reporting (as
defined in Exchange Act Rules 13a-15(f) and 15(d)-15(f)) for the Company and
have:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a)&#160;&#160;Designed
such disclosure controls and procedures, or caused such disclosure controls and
procedures to be designed under our supervision,&#160;to ensure that material
information relating to the Company, including its consolidated subsidiaries, is
made known to us by others within those entities, particularly during the period
in which this report is being prepared;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b)&#160;&#160;(Omitted
in accordance with the guidance of SEC Release No. 33-8545.)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">c)&#160;&#160;Evaluated
the effectiveness of the Company&#8217;s disclosure controls and procedures and
presented in this report our conclusions about the effectiveness of the
disclosure controls and procedures, as of the end of the period covered by this
report based on such evaluation; and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">d)&#160;&#160;Disclosed
in this report any change in the Company&#8217;s internal control over financial
reporting that occurred during the period covered by the annual report that has
materially affected, or is reasonably likely to materially affect the Company&#8217;s
internal control over the financial reporting; and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.&#160;&#160;The
Company&#8217;s other certifying officer(s) and I have disclosed, based on our most
recent evaluation of internal control over financial reporting, to the Company&#8217;s
auditors and the audit committee of the Company&#8217;s Board of Directors (or persons
performing the equivalent functions):</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a)&#160;&#160;All
significant deficiencies and material weaknesses in the design or operation of
internal control over financial reporting which are reasonably likely to
adversely affect the registrant&#8217;s ability to record, process, summarize and
report financial information; and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b)&#160;&#160;Any
fraud, whether or not material, that involves management or other employees who
have a significant role in the registrant&#8217;s internal control over financial
reporting.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:
June 30, 2009</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="left">
        <table cellpadding="0" cellspacing="0" width="100%">
            <tr>
              <td align="left" valign="top" width="35%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">/s/ Lior Maza</font></font></div>
              </td>
              <td valign="top" width="65%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr>
            <tr>
              <td align="left" valign="top" width="35%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Lior
      Maza</font></div>
              </td>
              <td valign="top" width="65%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr>
            <tr>
              <td align="left" valign="top" width="35%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Chief
      Financial Officer</font></div>
              </td>
              <td valign="top" width="65%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr>
        </table>
      </div>
    </div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
      <div id="PN">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
    </div><br>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-13.1
<SEQUENCE>8
<FILENAME>v153517_ex13-1.htm
<TEXT>
<html>
  <head>
    <title></title>
    <!--Licensed to: Vintage Filings-->
    <!--Document Created using EDGARizer 4.0.6.4-->
    <!--Copyright 1995 - 2008 EDGARfilings, Ltd., an IEC company. All rights reserved-->
    </head>
    <body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
13.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECTION
906 CERTIFICATION</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CERTIFICATION
OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">PURSUANT
TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE
SARBANES-OXLEY ACT OF 2002</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
to section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of
section 1350, chapter 63 of title 18, United States Code), each of the
undersigned officers of Vuance Ltd. (the &#8220;Company&#8221;), does hereby certify, to
such officer&#8217;s knowledge, that:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Annual Report on Form 20-F for the fiscal year ended December 31, 2008 (the
&#8220;Form 20-F&#8221;) of the Company fully complies with the requirements of Section
13(a) or 15(d) of the Exchange Act of 1934, and the information contained in the
Form 20-F fairly presents, in all material respects, the financial condition and
results of operations of the Company.</font><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div align="left">
        <div align="left">
          <div align="left">
            <div align="left">
              <div align="left">
                <div align="left">
                  <div align="left">
                    <div align="left">
                      <div align="left">
                        <div align="left">
                          <div align="left">
                            <table cellpadding="0" cellspacing="0" width="100%">
                                <tr>
                                  <td align="left" valign="top" width="35%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                                    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Dated:
      June 30, 2009</font></div>
                                  </td>
                                  <td valign="top" width="5%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                  <td align="left" valign="top" width="35%" style="BORDER-BOTTOM: black 2px solid">
                                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">/s/ Eyal Tuchman</font></font></div>
                                  </td>
                                  <td align="left" valign="top" width="25%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                </tr>
                                <tr>
                                  <td valign="top" width="35%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                  <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                  <td align="left" valign="top" width="35%">
                                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Eyal
      Tuchman</font></div>
                                  </td>
                                  <td align="left" valign="top" width="25%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                </tr>
                                <tr>
                                  <td valign="top" width="35%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                  <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                  <td align="left" valign="top" width="35%">
                                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Chief
      Executive Officer</font></div>
                                  </td>
                                  <td align="left" valign="top" width="25%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                </tr>
                                <tr>
                                  <td valign="top" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                  <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                  <td valign="top" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                  <td valign="top" width="25%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                </tr>
                                <tr>
                                  <td align="left" valign="top" width="35%" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px">
                                    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Dated:
      June 30, 2009</font></div>
                                  </td>
                                  <td valign="top" width="5%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                  <td align="left" valign="top" width="35%" style="BORDER-BOTTOM: black 2px solid">
                                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">/s/
      Lior Maza</font></div>
                                  </td>
                                  <td align="left" valign="top" width="25%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                </tr>
                                <tr>
                                  <td valign="top" width="35%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                  <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                  <td align="left" valign="top" width="35%">
                                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Lior
      Maza</font></div>
                                  </td>
                                  <td align="left" valign="top" width="25%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                </tr>
                                <tr>
                                  <td valign="top" width="35%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                  <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                  <td align="left" valign="top" width="35%">
                                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Chief
      Financial Officer</font></div>
                                  </td>
                                  <td align="left" valign="top" width="25%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                </tr>
                            </table>
                          </div>
                        </div>
                      </div>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>A signed original of this written
statement required by Section 906 has been provided to the Company and will be
retained by the Company and furnished to the Securities and Exchange Commission
or its staff upon request.</font></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
      <div id="PN">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
    </div><br></body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-15.1
<SEQUENCE>9
<FILENAME>v153517_ex15-1.htm
<TEXT>
<html>
  <head>
    <title></title>
    <!--Licensed to: Vintage Filings-->
    <!--Document Created using EDGARizer 4.0.6.4-->
    <!--Copyright 1995 - 2008 EDGARfilings, Ltd., an IEC company. All rights reserved-->
    </head>
    <body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
15.1&#160;&#160;&#160;&#160; </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CONSENT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have
issued our report dated June&#160;30, 2009 accompanying the consolidated
financial statements included in the Annual Report of Vuance Ltd. on
Form&#160;20-F for the year ended December&#160;31, 2008.&#160;&#160;We hereby
consent to the incorporation by reference of said report in the Registration
Statements of Vuance Ltd. on Form&#160;S-8 (File No.&#160;333-121231, effective
December&#160;14, 2004).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Fahn
Kanne &amp; Co.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Certified
Public Accountants (Isr.)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Tel-Aviv,
Israel</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">June 30,
2009</font></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
      <div id="PN">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
    </div><br></body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-15.2
<SEQUENCE>10
<FILENAME>v153517_ex15-2.htm
<TEXT>
<html>
  <head>
    <title></title>
    <!--Licensed to: Vintage Filings-->
    <!--Document Created using EDGARizer 4.0.6.4-->
    <!--Copyright 1995 - 2008 EDGARfilings, Ltd., an IEC company. All rights reserved-->
    </head>
    <body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
15.2&#160;&#160;&#160;&#160; </font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CONSENT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
consent to the reference to our firm under the caption &#8220;Experts&#8221; and to the use
of our auditors&#8217; report dated March 22, 2007 on the financial statements of
SuperCom Asia Pacific Limited for the year ended December 31, 2006 in the Annual
Report (Form 20-F with file no. 000-50790) of Vuance Ltd. for the year ended
December 31, 2008 filed with the United States Securities and Exchange
Commission.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">With
effect from May 1, 2009, our firm changed our name from BDO McCabe Lo Limited to
BDO Limited and we now practice under our new name
accordingly.</font></div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">BDO
Limited</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Certified
Public Accountants</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">29 June
2009</font></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
      <div id="PN">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-15.3
<SEQUENCE>11
<FILENAME>v153517_ex15-3.htm
<TEXT>
<html>
  <head>
    <title>Unassociated Document</title>
    <!--Licensed to: Vintage Filings-->
    <!--Document Created using EDGARizer 4.0.6.4-->
    <!--Copyright 1995 - 2008 EDGARfilings, Ltd., an IEC company. All rights reserved-->
    </head>
    <body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
15.3&#160;&#160;&#160;&#160; </font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CONSENT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
consent to the use of our auditors&#8217; report dated June 26, 2009 on the financial
statements of SuperCom Asia Pacific Limited for the year ended December 31, 2008
in the Annual Report (Form 20-F) of Vuance Ltd filed with the United States
Securities and Exchange Commission.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">PKF</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Certified
Public Accountants</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Hong
Kong, China</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">June 26,
2009</font></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
      <div id="PN">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
    </div><br></body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
