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<SEC-DOCUMENT>0000950136-07-005634.txt : 20070814
<SEC-HEADER>0000950136-07-005634.hdr.sgml : 20070814
<ACCEPTANCE-DATETIME>20070814102817
ACCESSION NUMBER:		0000950136-07-005634
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20070813
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20070814
DATE AS OF CHANGE:		20070814

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CPI AEROSTRUCTURES INC
		CENTRAL INDEX KEY:			0000889348
		STANDARD INDUSTRIAL CLASSIFICATION:	AIRCRAFT PART & AUXILIARY EQUIPMENT, NEC [3728]
		IRS NUMBER:				112520310
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11398
		FILM NUMBER:		071051910

	BUSINESS ADDRESS:	
		STREET 1:		200A EXECUTIVE DR
		CITY:			EDGEWOOD
		STATE:			NY
		ZIP:			11717
		BUSINESS PHONE:		5165865200
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>file1.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>
</TITLE>
</HEAD>
<BODY>


<page>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<P style="font-size: 14pt; margin-top: 12pt; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B>
</P>

<P style="font-size: 12pt; text-align: center; margin-top:-14pt"><B>WASHINGTON,
  D.C. 20549</B> </P>
<DIV align="center">
<P style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000" align="center">&nbsp;</P>
</DIV>
<P style="font-size: 18pt; margin-top: 12pt; text-align: center"><B>FORM 8-K</B>
</P>


<P style="font-size: 12pt; margin-top: 12pt; text-align: center"><B>CURRENT REPORT PURSUANT<BR>
TO SECTION 13 OR 15(d) OF THE<BR>
SECURITIES EXCHANGE ACT OF 1934</B>
</P>


<P style="font-size: 10pt; margin-top: 16pt; text-align:center">Date of report
  (Date of earliest event reported):<b> August 13, 2007</b></P>

<P style="font-size: 24pt; margin-top: 10pt; text-align:center"><B>CPI AEROSTRUCTURES, INC.</B>
</P>

<P style="font-size: 10pt; text-align:center; margin-top: -16pt">(Exact Name of Registrant as Specified in Charter)</P>


<P style="font-size: 10pt; margin-top: 2pt; text-align: center"><B>New York</B></P>

<P style="font-size: 10pt; margin-top: -16pt; margin-bottom: -1pt; text-align:center">(State or Other Jurisdiction of Incorporation)</P>

<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align="center" valign="top"><b>1-11398</b><BR>
      (Commission File Number) </TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><b>11-2520310 </b><BR>
      (IRS Employer Identification No.)</TD>
  </TR>
  <TR valign="bottom">
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align="center" valign="top"><b>60 Heartland Blvd., Edgewood, New York</b><BR>
      (Address of Principal Executive Offices) </TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><b>11717</b><BR>
      (Zip Code)</TD>
  </TR>
</TABLE>


<P style="font-size: 10pt; margin-top: 12pt; text-align: center"><b>(631) 586-5200</b><BR>
  (Registrant&#146;s Telephone Number, Including Area Code)</P>

<P style="font-size: 10pt; margin-top: 18pt; text-align:center"><b>Not Applicable</b><br>
(Former Name or Former Address, if Changed Since Last Report)</P>
<DIV align="center">
<P style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000" align="center">&nbsp;</P>
</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<!-- EEDocs PBStart--><hr noshade="noshade" align="center" width="100%" size="2"><p style='page-break-before:always'></p><PAGE>
<!-- EEDocs PBEnd-->





<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><b><font style='font-size:10pt'>Item 1.01</font></b></p>
<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><b><font style='font-size:10pt'>Item 2.02 &#151; Results of Operations and Financial Condition</font></b></p>
<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:5%;text-align:left;'><font style='font-size:10pt'>On August 13, 2007, CPI Aerostructures, Inc. issued a press release discussing its financial results for the three and six months ended June 30, 2007. The press release is included as Exhibit 99.1 hereto.</font></p>
<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><b><font style='font-size:10pt'>Item 9.01 &#151; Financial Statement and Exhibits</font></b></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<div align=center>
<table border="0" cellspacing=0 cellpadding=0 width="90%" style=' border-collapse:collapse;'>
 <tr>
        <td width="8%" valign=bottom >
                        <p style=' margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:10pt'>99.1</font></p> </td>
        <td width="91%" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:10pt'>Press release, dated August 13, 2007, announcing June 30, 2007 financial results</font></p> </td> </tr></table>
</div>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font style='font-size:10pt'>2</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:12pt'>&nbsp;</font></p>
<!-- EEDocs PBStart--><hr noshade="noshade" align="center" width="100%" size="2"><p style='page-break-before:always'></p><PAGE>
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<p style=' margin-bottom:0pt; margin-top:16pt;text-align:center;'><B><font STYLE='FONT-SIZE:10PT'>SIGNATURE</font></B></p>
<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:5%;text-align:left;'><font style='font-size:10pt'>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<div align=center>
<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' border-collapse:collapse;'>
 <tr>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>Dated: August 14, 2007</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font STYLE='FONT-SIZE:10PT'>CPI AEROSTRUCTURES, INC.</font></p> </td> </tr>
 <tr>
        <td width="49%" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'>  </p> </td>
        <td width="7%" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td width="4%" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>By:&nbsp;</font></p> </td>
        <td width="40%" valign=bottom style='border-bottom: solid black .5pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><br> <font style='font-size:10pt'>/s/ Edward J. Fred</font></p> </td> </tr>
 <tr>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>Edward J. Fred</font></p> </td> </tr>
 <tr>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>Chief Executive Officer</font></p> </td> </tr></table>
</div>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:12pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font style='font-size:10pt'>3</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:12pt'>&nbsp;</font></p>
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</BODY>
</HTML>


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>file2.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<HTML>
<HEAD>
<TITLE>
</TITLE>
</HEAD>
<BODY>


  <PAGE>
	 <P STYLE=" margin-bottom:0pt; margin-top:8pt;text-align:right;">
		<B><FONT STYLE="FONT-SIZE:10PT">EXHIBIT 99.1</FONT></B>
	 </P>
	 <P STYLE=" margin-bottom:0pt; margin-top:8pt;text-align:right;">
		<FONT STYLE="font-size:10pt">&nbsp;</FONT>
	 </P>
	 <P STYLE=" margin-bottom:0pt; margin-top:0pt;text-align:center;">
		<B><FONT STYLE="font-size:12pt"><IMG SRC="img1.jpg" WIDTH="300"
		HEIGHT="59"><BR> </FONT></B>
	 </P>
	 <P STYLE=" margin-bottom:0pt; margin-top:0pt;text-align:left;">
		<FONT STYLE="font-size:11pt">&nbsp;</FONT>
	 </P>
	 <P STYLE=" margin-bottom:0pt; margin-top:8pt;text-align:center;">
		<B><FONT STYLE="FONT-SIZE:10PT"><U>FOR IMMEDIATE RELEASE</U></FONT></B>
	 </P>
	 <P STYLE=" margin-bottom:0pt; margin-top:16pt;text-align:center;">
		<U><B><FONT STYLE="FONT-SIZE:10PT">CPI AEROSTRUCTURES ANNOUNCES 2007
		SECOND QUARTER RESULTS </FONT></B></U>
	 </P>
	 <P STYLE=" margin-bottom:0pt; margin-top:16pt;text-align:center;">
		<U><B><FONT STYLE="font-size:10pt">Raises 2007 Guidance</FONT></B></U>
	 </P>
	 <P STYLE=" margin-bottom:0pt; margin-top:8pt;text-align:left;">
		<U><FONT STYLE="font-size:10pt">Edgewood, NY &#150; August 13, 2007
		&#150;</FONT><B><FONT STYLE="font-size:10pt"> </FONT></B></U><FONT
		STYLE="font-size:10pt">CPI Aerostructures, Inc. (&#147;CPI Aero&#148;) (AMEX:
		CVU) today announced results for the second quarter and six months ended June
		30, 2007. </FONT>
	 </P>
	 <P STYLE=" margin-bottom:0pt; margin-top:12pt;text-align:left;">
		<U><B><FONT STYLE="font-size:10pt">Second Quarter 2007 vs.
		2006</FONT></B></U>
	 </P>
	 <DIV ALIGN="left">
		<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%"
		 STYLE=" border-collapse:collapse;">
		  <TR>
			 <TD WIDTH="5%" VALIGN="top" STYLE="padding:6.0pt 0in 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD WIDTH="5%" VALIGN="top" STYLE="padding:4.0pt 0in 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;">
				  <FONT SIZE="3"><B>&#149;</B></FONT>
				</P>
			 </TD>
			 <TD VALIGN="top" STYLE="padding:6.0pt 0in 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">Revenue increased 205% to $7,490,669
				  from $2,457,016;</FONT>
				</P>
			 </TD>
		  </TR>
		</TABLE> </DIV>
	 <DIV ALIGN="left">
		<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%"
		 STYLE=" border-collapse:collapse;">
		  <TR>
			 <TD WIDTH="5%" VALIGN="top" STYLE="padding:6.0pt 0in 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD WIDTH="5%" VALIGN="top" STYLE="padding:4.0pt 0in 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;">
				  <FONT SIZE="3"><B>&#149;</B></FONT>
				</P>
			 </TD>
			 <TD VALIGN="top" STYLE="padding:6.0pt 0in 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">Gross margin was 29% compared to
				  (36%) in last year&#146;s second quarter;</FONT>
				</P>
			 </TD>
		  </TR>
		</TABLE> </DIV>
	 <DIV ALIGN="left">
		<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%"
		 STYLE=" border-collapse:collapse;">
		  <TR>
			 <TD WIDTH="5%" VALIGN="top" STYLE="padding:6.0pt 0in 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD WIDTH="5%" VALIGN="top" STYLE="padding:4.0pt 0in 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;">
				  <FONT SIZE="3"><B>&#149;</B></FONT>
				</P>
			 </TD>
			 <TD VALIGN="top" STYLE="padding:6.0pt 0in 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">Pre-tax income was $926,448,
				  compared to a pre-tax loss of $2,038,334; and,</FONT>
				</P>
			 </TD>
		  </TR>
		</TABLE> </DIV>
	 <DIV ALIGN="left">
		<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%"
		 STYLE=" border-collapse:collapse;">
		  <TR>
			 <TD WIDTH="5%" VALIGN="top" STYLE="padding:6.0pt 0in 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD WIDTH="5%" VALIGN="top" STYLE="padding:4.0pt 0in 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;">
				  <FONT SIZE="3"><B>&#149;</B></FONT>
				</P>
			 </TD>
			 <TD VALIGN="top" STYLE="padding:6.0pt 0in 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">Net income was $575,448, or $0.10
				  per diluted share, compared to net loss of $1,333,334, or $0.24 per diluted
				  share.</FONT>
				</P>
			 </TD>
		  </TR>
		</TABLE> </DIV>
	 <P STYLE=" margin-bottom:0pt; margin-top:12pt;text-align:left;">
		<U><B><FONT STYLE="font-size:10pt">First Half 2007 vs.
		2006</FONT></B></U>
	 </P>
	 <DIV ALIGN="left">
		<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%"
		 STYLE=" border-collapse:collapse;">
		  <TR>
			 <TD WIDTH="5%" VALIGN="top" STYLE="padding:6.0pt 0in 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD WIDTH="5%" VALIGN="top" STYLE="padding:4.0pt 0in 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;">
				  <FONT SIZE="3"><B>&#149;</B></FONT>
				</P>
			 </TD>
			 <TD VALIGN="top" STYLE="padding:6.0pt 0in 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">Revenue increased 73% to $12,962,637
				  from $7,487,210;</FONT>
				</P>
			 </TD>
		  </TR>
		</TABLE> </DIV>
	 <DIV ALIGN="left">
		<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%"
		 STYLE=" border-collapse:collapse;">
		  <TR>
			 <TD WIDTH="5%" VALIGN="top" STYLE="padding:6.0pt 0in 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD WIDTH="5%" VALIGN="top" STYLE="padding:4.0pt 0in 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;">
				  <FONT SIZE="3"><B>&#149;</B></FONT>
				</P>
			 </TD>
			 <TD VALIGN="top" STYLE="padding:6.0pt 0in 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">Gross margin was 27% as compared to
				  1%;</FONT>
				</P>
			 </TD>
		  </TR>
		</TABLE> </DIV>
	 <DIV ALIGN="left">
		<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%"
		 STYLE=" border-collapse:collapse;">
		  <TR>
			 <TD WIDTH="5%" VALIGN="top" STYLE="padding:6.0pt 0in 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD WIDTH="5%" VALIGN="top" STYLE="padding:4.0pt 0in 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;">
				  <FONT SIZE="3"><B>&#149;</B></FONT>
				</P>
			 </TD>
			 <TD VALIGN="top" STYLE="padding:6.0pt 0in 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">Pre-tax income was $1,361,637
				  compared to a pre-tax loss of $1,921,440; </FONT>
				</P>
			 </TD>
		  </TR>
		</TABLE> </DIV>
	 <DIV ALIGN="left">
		<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%"
		 STYLE=" border-collapse:collapse;">
		  <TR>
			 <TD WIDTH="5%" VALIGN="top" STYLE="padding:6.0pt 0in 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD WIDTH="5%" VALIGN="top" STYLE="padding:4.0pt 0in 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;">
				  <FONT SIZE="3"><B>&#149;</B></FONT>
				</P>
			 </TD>
			 <TD VALIGN="top" STYLE="padding:6.0pt 0in 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">Net income was $843,637 or $0.14 per
				  diluted share, compared to net loss of $1,264,440 or $0.23 per diluted
				  share;</FONT>
				</P>
			 </TD>
		  </TR>
		</TABLE> </DIV>
	 <P STYLE=" margin-bottom:0pt; margin-top:8pt;text-align:left;">
		<FONT STYLE="font-size:10pt">When discussing the results of operations,
		Edward J. Fred, CPI Aero&#146;s President &amp; CEO, stated, &#147;During the
		six months ended June 30, 2007, we received approximately $8.6 million of new
		contract awards, which includes approximately $7.7 million of subcontract
		awards, compared to $7.9 million of new contract awards in the same period last
		year. In the second half of 2006, we received approximately $22 million of new
		contract awards. Included in 2006 contract awards were approximately $7 million
		for subcontracting work. Revenue increased in the first six months of 2007 as
		we have been performing on these contracts.&#148;</FONT>
	 </P>
	 <P STYLE=" margin-bottom:0pt; margin-top:8pt;text-align:left;">
		<FONT STYLE="font-size:10pt">Mr.&nbsp;Fred continued, &#147;During the
		six months ended June 30, 2006, we took actions intended to improve our gross
		margin and net profitability on a prospective basis. These actions resulted in
		the improved gross profit percentage during the six months ended June 30,
		2007.&#148;</FONT>
	 </P>
	 <P STYLE=" margin-bottom:0pt; margin-top:12pt;text-align:left;">
		<U><B><FONT STYLE="font-size:10pt">CPI Aero Raises 2007
		Guidance</FONT></B></U>
	 </P>
	 <P STYLE=" margin-bottom:0pt; margin-top:8pt;text-align:left;">
		<FONT STYLE="font-size:10pt">CPI Aero also indicated that based upon the
		level of new and pending orders and its return to historical gross margins, it
		is revising its 2007 guidance to approximately $27 million in revenue,
		resulting in net income in the range of $2.3 million to $2.5 million. CPI
		Aero&#146;s prior guidance called for 2007 revenue of approximately $25 million
		resulting in net income of approximately $2.0 million.</FONT>
	 </P>
	 <P STYLE=" margin-bottom:0pt; margin-top:8pt;text-align:center;">
		<FONT STYLE="font-size:10pt">(more)</FONT>
	 </P>
	 <P STYLE=" margin-bottom:0pt; margin-top:0pt;text-align:left;">
		<FONT STYLE="font-size:10pt">&nbsp;</FONT>
	 </P>
	 <P STYLE=" margin-bottom:0pt; margin-top:0pt;text-align:left;">
		<FONT STYLE="font-size:12pt">&nbsp;</FONT>
	 </P>
<!-- EEDocs PBStart--><HR NOSHADE="noshade" ALIGN="center" WIDTH="100%"
	 SIZE="2">
	 <P STYLE="page-break-before:always">
	 </P>
	 <PAGE>
<!-- EEDocs PBEnd-->
	 <P STYLE=" margin-bottom:0pt; margin-top:0pt;text-align:left;">
		<FONT STYLE="font-size:12pt">&nbsp;</FONT>
	 </P>
	 <DIV ALIGN="left">
		<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%"
		 STYLE=" border-collapse:collapse;">
		  <TR>
			 <TD WIDTH="73%" VALIGN="bottom">
				<P
				 STYLE=" margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">CPI Aero News Release</FONT>
				</P>
			 </TD>
			 <TD WIDTH="26%" VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:center;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">Page 2</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">August 13, 2007</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
		  </TR>
		</TABLE> </DIV>
	 <P STYLE=" margin-bottom:0pt; margin-top:8pt;text-align:left;">
		<FONT STYLE="font-size:10pt">Mr.&nbsp;Fred said, &#147;2007 is turning
		out to be a much better year than we originally expected and, as our revised
		guidance indicates, we are looking toward a strong second half. As we reported
		last month, through July 31, 2007, new contract awards were $15.8 million
		compared to $8.5 million at this time last year. Included in this year&#146;s
		total is $10.9 million in subcontract awards from major aerospace companies,
		compared to $7.0 million awarded for all of 2006. This demonstrates our
		continued efforts to diversify our customer base and increase the proportion of
		work performed in our capacity as a subcontractor to major prime
		contractors.&#148;</FONT>
	 </P>
	 <P STYLE=" margin-bottom:0pt; margin-top:8pt;text-align:left;">
		<FONT STYLE="font-size:10pt">Mr.&nbsp;Fred added, &#147;Also, last month,
		we received a new C-5 TOP order valued at approximately $1.6 million. With this
		award, the C-5 TOP contract has averaged approximately $5.2 million of new work
		per 12 month period, making it the second largest production contract in our
		history behind only the T-38 modernization program, which has averaged
		approximately $6.8 million per 12 month period.&#148;</FONT>
	 </P>
	 <P STYLE=" margin-bottom:0pt; margin-top:8pt;text-align:left;">
		<FONT STYLE="font-size:10pt">Mr.&nbsp;Fred further noted, &#147;Many of
		the orders we were recently awarded have delivery dates into 2008 and beyond.
		This coupled with the release of funding on projects on which we are bidding or
		have bid as a prime and as a subcontractor, give us reason to believe that the
		positive trends of 2007 will continue into next year.&#148;</FONT>
	 </P>
	 <P STYLE=" margin-bottom:0pt; margin-top:12pt;text-align:left;">
		<U><B><FONT STYLE="font-size:10pt">Conference Call</FONT></B></U>
	 </P>
	 <P STYLE=" margin-bottom:0pt; margin-top:8pt;text-align:left;">
		<FONT STYLE="font-size:10pt">CPI Aero&#146;s President and CEO, Edward J.
		Fred, and CFO, Vincent Palazzolo, will host a conference call today, Monday,
		August 13, 2007 at 11:00 am EDT to discuss second quarter results as well as
		recent corporate developments. After opening remarks, there will be a question
		and answer period. Interested parties may participate in the call by dialing
		706-679-3079. Please call in 10 minutes before the scheduled time and ask for
		the CPI Aero call. The conference call will also be broadcast live over the
		Internet. To listen to the live call, please go to <U>www.cpiaero.com</U> and
		click on the &#147;Investor Relations&#148; section, then click on &#147;Event
		Calendar&#148;. Please access the website 15 minutes prior to the call to
		download and install any necessary audio software. The conference call will be
		archived and can be accessed for approximately 90 days. We suggest listeners
		use Microsoft Explorer as their browser.</FONT>
	 </P>
	 <P STYLE=" margin-bottom:0pt; margin-top:8pt;text-align:left;">
		<FONT STYLE="font-size:10pt">CPI Aero is engaged in the contract
		production of structural aircraft parts for the U.S. Air Force, other branches
		of the armed forces and leading prime defense contractors. In conjunction with
		its assembly operations, CPI Aero provides engineering, technical and program
		management services. Among the key programs that CPI Aero supplies are the C-5A
		Galaxy cargo jet, the T-38 Talon jet trainer, the A-10 Thunderbolt attack jet,
		the E-3 Sentry AWACS jet, UH-60 Black Hawk helicopter, S-92 helicopter and the
		MH-60S mine countermeasure helicopter.</FONT>
	 </P>
	 <P STYLE=" margin-bottom:0pt; margin-top:8pt;text-align:left;">
		<FONT STYLE="font-size:10pt">The above statements include forward looking
		statements that involve risks and uncertainties, which are described from time
		to time in CPI Aero&#146;s SEC reports, including CPI Aero&#146;s Form 10-K for
		the year ended December 31, 2006 and Form 10-Q for the quarter ended March 31,
		2007.</FONT>
	 </P>
	 <P STYLE=" margin-bottom:0pt; margin-top:0pt;text-align:left;">
		<FONT STYLE="font-size:10pt">&nbsp;</FONT>
	 </P>
	 <DIV ALIGN="left">
		<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%"
		 STYLE=" border-collapse:collapse;">
		  <TR>
			 <TD WIDTH="42%" VALIGN="top" STYLE="padding:0in 5.75pt 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;">
				  <B><FONT STYLE="font-size:10pt">Contact:</FONT></B>
				</P>
			 </TD>
			 <TD WIDTH="3%" VALIGN="bottom" STYLE="padding:0in 5.75pt 0in 0in;">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD WIDTH="53%" VALIGN="top" STYLE="padding:0in 5.75pt 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="top" STYLE="padding:0in 5.75pt 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">Vincent Palazzolo</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="padding:0in 5.75pt 0in 0in;">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="top" STYLE="padding:0in 5.75pt 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">Investor Relations Counsel:</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="top" STYLE="padding:0in 5.75pt 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">Chief Financial Officer</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="padding:0in 5.75pt 0in 0in;">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="top" STYLE="padding:0in 5.75pt 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">The Equity Group Inc.</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="top" STYLE="padding:0in 5.75pt 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">CPI Aero</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="padding:0in 5.75pt 0in 0in;">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="top" STYLE="padding:0in 5.75pt 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">Linda Latman (212) 836-9609</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="top" STYLE="padding:0in 5.75pt 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">(631) 586-5200</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="padding:0in 5.75pt 0in 0in;">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="top" STYLE="padding:0in 5.75pt 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">Lena Cati (212) 836-9611</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="top" STYLE="padding:0in 5.75pt 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt"><U>www.cpiaero.com</U></FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="padding:0in 5.75pt 0in 0in;">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="top" STYLE="padding:0in 5.75pt 0in 0in;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt"><U>www.theequitygroup.com</U></FONT>

				</P>
			 </TD>
		  </TR>
		</TABLE> </DIV>
	 <P STYLE=" margin-bottom:0pt; margin-top:8pt;text-align:center;">
		<FONT STYLE="font-size:10pt">(See Accompanying Tables)</FONT>
	 </P>
	 <P STYLE=" margin-bottom:0pt; margin-top:0pt;text-align:left;">
		<FONT STYLE="font-size:10pt">&nbsp;</FONT>
	 </P>
	 <P STYLE=" margin-bottom:0pt; margin-top:0pt;text-align:left;">
		<FONT STYLE="font-size:12pt">&nbsp;</FONT>
	 </P>
<!-- EEDocs PBStart--><HR NOSHADE="noshade" ALIGN="center" WIDTH="100%"
	 SIZE="2">
	 <P STYLE="page-break-before:always">
	 </P>
	 <PAGE>
<!-- EEDocs PBEnd-->
	 <P STYLE=" margin-bottom:0pt; margin-top:0pt;text-align:left;">
		<FONT STYLE="font-size:10pt">&nbsp;</FONT>
	 </P>
	 <DIV ALIGN="left">
		<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%"
		 STYLE=" border-collapse:collapse;">
		  <TR>
			 <TD WIDTH="73%" VALIGN="bottom">
				<P
				 STYLE=" margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">CPI Aero News Release </FONT>
				</P>
			 </TD>
			 <TD WIDTH="26%" VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:center;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">Page 3</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">August 13, 2007</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:center;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
		  </TR>
		</TABLE> </DIV>
	 <P STYLE=" margin-bottom:0pt; margin-top:16pt;text-align:center;">
		<B><FONT STYLE="FONT-SIZE:10PT">CPI AEROSTRUCTURES, INC.</FONT></B>
	 </P>
	 <P STYLE=" margin-bottom:0pt; margin-top:0pt;text-align:center;">
		<B><FONT STYLE="FONT-SIZE:10PT">CONDENSED STATEMENTS OF INCOME</FONT></B>

	 </P>
	 <P STYLE=" margin-bottom:0pt; margin-top:0pt;text-align:left;">
		<FONT STYLE="font-size:10pt">&nbsp;</FONT>
	 </P>
	 <DIV ALIGN="left">
		<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%"
		 STYLE=" border-collapse:collapse;">
		  <TR>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:center;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:center;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD COLSPAN="5" VALIGN="bottom"
			  STYLE=" border-bottom:solid black .5pt;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:center;margin-bottom:0pt;">
				  <B><FONT STYLE="font-size:10pt">For the Three
				  Months</FONT></B><BR> <B><FONT STYLE="font-size:10pt">Ended June 30,</FONT></B>

				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:center;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD COLSPAN="5" VALIGN="bottom"
			  STYLE=" border-bottom:solid black .5pt;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:center;margin-bottom:0pt;">
				  <B><FONT STYLE="font-size:10pt">For the Six Months</FONT></B><BR>
				  <B><FONT STYLE="font-size:10pt">Ended June 30,</FONT></B>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:center;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:center;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:center;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD COLSPAN="2" VALIGN="bottom"
			  STYLE=" border-bottom:solid black .5pt;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:center;margin-bottom:0pt;">
				  <B><FONT STYLE="font-size:10pt">2007</FONT></B>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:center;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD COLSPAN="2" VALIGN="bottom"
			  STYLE=" border-bottom:solid black .5pt;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:center;margin-bottom:0pt;">
				  <B><FONT STYLE="font-size:10pt">2006</FONT></B>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:center;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD COLSPAN="2" VALIGN="bottom"
			  STYLE=" border-bottom:solid black .5pt;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:center;margin-bottom:0pt;">
				  <B><FONT STYLE="font-size:10pt">2007</FONT></B>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:center;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD COLSPAN="2" VALIGN="bottom"
			  STYLE=" border-bottom:solid black .5pt;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:center;margin-bottom:0pt;">
				  <B><FONT STYLE="font-size:10pt">2006</FONT></B>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:center;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD COLSPAN="4" VALIGN="bottom"
			  STYLE=" border-top:solid black .5pt;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:center;margin-top:2pt;margin-bottom:0pt;">
				  <B><FONT STYLE="font-size:10pt">(Unaudited)</FONT></B>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD COLSPAN="5" VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:center;margin-top:2pt;margin-bottom:0pt;">
				  <B><FONT STYLE="font-size:10pt">(Unaudited)</FONT></B>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">Revenue</FONT>
				</P>
			 </TD>
			 <TD WIDTH="1%" VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD WIDTH="1%" VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">$</FONT>
				</P>
			 </TD>
			 <TD WIDTH="10%" VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">7,490,669</FONT>
				</P>
			 </TD>
			 <TD WIDTH="1%" VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD WIDTH="1%" VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">$</FONT>
				</P>
			 </TD>
			 <TD WIDTH="10%" VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">2,457,016</FONT>
				</P>
			 </TD>
			 <TD WIDTH="1%" VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD WIDTH="1%" VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">$</FONT>
				</P>
			 </TD>
			 <TD WIDTH="10%" VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">12,962,637</FONT>
				</P>
			 </TD>
			 <TD WIDTH="1%" VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD WIDTH="1%" VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">$</FONT>
				</P>
			 </TD>
			 <TD WIDTH="10%" VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">7,487,210</FONT>
				</P>
			 </TD>
			 <TD WIDTH="1%" VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">Income (loss) before provision for
				  income taxes</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">926,448</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">(2,038,334</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">)</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">1,361,637</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">(1,921,440</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">)</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">Provision for (benefit from) income
				  taxes</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: solid black .5pt;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: solid black .5pt;">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">351,000</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: solid black .5pt;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: solid black .5pt;">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">(705,000</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">)</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: solid black .5pt;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: solid black .5pt;">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">518,000</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: solid black .5pt;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: solid black .5pt;">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">(657,000</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">)</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">Net income (loss) </FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: double black 2.25pt;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">$</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: double black 2.25pt;">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">575,448</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: double black 2.25pt;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">$</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: double black 2.25pt;">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">(1,333,334</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">)</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: double black 2.25pt;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">$</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: double black 2.25pt;">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">843,637</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: double black 2.25pt;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">$</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: double black 2.25pt;">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">(1,264,440</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">)</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">Income (loss) per common share
				  &#150; basic</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: double black 2.25pt;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">$</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: double black 2.25pt;">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">0.10</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: double black 2.25pt;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">$</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: double black 2.25pt;">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">(0.24</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">)</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: double black 2.25pt;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">$</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: double black 2.25pt;">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">0.15</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: double black 2.25pt;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">$</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: double black 2.25pt;">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">(0.23</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">)</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">Income (loss) per common share
				  &#150; diluted</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: double black 2.25pt;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">$</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: double black 2.25pt;">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">0.10</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: double black 2.25pt;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">$</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: double black 2.25pt;">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">(0.24</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">)</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: double black 2.25pt;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">$</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: double black 2.25pt;">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">0.14</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: double black 2.25pt;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">$</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: double black 2.25pt;">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">(0.23</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">)</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">Shares used in computing income per
				  common share:</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:17.3pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">Basic</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">5,691,811</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">5,447,042</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">5,596,963</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">5,446,263</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:17.3pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">Diluted</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: solid black .5pt;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: solid black .5pt;">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">6,026,829</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: solid black .5pt;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: solid black .5pt;">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">5,447,042</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: solid black .5pt;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: solid black .5pt;">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">5,908,891</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: solid black .5pt;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom" STYLE="border-bottom: solid black .5pt;">
				<P
				 STYLE=" margin-left:0pt;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">5,446,263</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
		  </TR>
		</TABLE> </DIV>
	 <P STYLE=" margin-bottom:0pt; margin-top:0pt;text-align:left;">
		<FONT STYLE="font-size:10pt">&nbsp;</FONT>
	 </P>
	 <DIV ALIGN="left">
		<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%"
		 STYLE=" border-collapse:collapse;">
		  <TR>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:center;margin-bottom:0pt;">
				  <B><FONT STYLE="font-size:10pt">Balance Sheet
				  Highlights</FONT></B>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:center;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD COLSPAN="2" VALIGN="bottom"
			  STYLE=" border-bottom:solid black .5pt;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:center;margin-bottom:0pt;">
				  <B><FONT STYLE="font-size:10pt">6/30/07</FONT></B>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:center;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD COLSPAN="2" VALIGN="bottom"
			  STYLE=" border-bottom:solid black .5pt;">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:center;margin-bottom:0pt;">
				  <B><FONT STYLE="font-size:10pt">12/31/06</FONT></B>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:center;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:8.65pt;margin-right:0in;text-indent:-8.65pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">Cash</FONT>
				</P>
			 </TD>
			 <TD WIDTH="0%" VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD WIDTH="1%" VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">$</FONT>
				</P>
			 </TD>
			 <TD WIDTH="10%" VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:4.0pt;margin-bottom: 0in;">
				  <FONT STYLE="font-size:10pt">1,041,745</FONT>
				</P>
			 </TD>
			 <TD WIDTH="1%" VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD WIDTH="1%" VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">$</FONT>
				</P>
			 </TD>
			 <TD WIDTH="11%" VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:4.0pt;margin-bottom: 0in;">
				  <FONT STYLE="font-size:10pt">38,564 </FONT>
				</P>
			 </TD>
			 <TD WIDTH="1%" VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:8.65pt;margin-right:0in;text-indent:-8.65pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">Total current assets</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:4.0pt;margin-bottom: 0in;">
				  <FONT STYLE="font-size:10pt">33,056,996 </FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:4.0pt;margin-bottom: 0in;">
				  <FONT STYLE="font-size:10pt">31,006,495 </FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:8.65pt;margin-right:0in;text-indent:-8.65pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">Total assets</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:4.0pt;margin-bottom: 0in;">
				  <FONT STYLE="font-size:10pt">34,067,807 </FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:4.0pt;margin-bottom: 0in;">
				  <FONT STYLE="font-size:10pt">32,160,187 </FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:8.65pt;margin-right:0in;text-indent:-8.65pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">Total current liabilities</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:4.0pt;margin-bottom: 0in;">
				  <FONT STYLE="font-size:10pt">5,544,092 </FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:4.0pt;margin-bottom: 0in;">
				  <FONT STYLE="font-size:10pt">5,883,991 </FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:8.65pt;margin-right:0in;text-indent:-8.65pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">Working capital </FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:4.0pt;margin-bottom: 0in;">
				  <FONT STYLE="font-size:10pt">27,512,904 </FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:4.0pt;margin-bottom: 0in;">
				  <FONT STYLE="font-size:10pt">25,122,504 </FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:8.65pt;margin-right:0in;text-indent:-8.65pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">Short-term debt</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:4.0pt;margin-bottom: 0in;">
				  <FONT STYLE="font-size:10pt">14,215 </FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:4.0pt;margin-bottom: 0in;">
				  <FONT STYLE="font-size:10pt">392,188 </FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:8.65pt;margin-right:0in;text-indent:-8.65pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">Long-term debt</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:4.0pt;margin-bottom: 0in;">
				  <FONT STYLE="font-size:10pt">&#151; </FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:4.0pt;margin-bottom: 0in;">
				  <FONT STYLE="font-size:10pt">&#151; </FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:8.65pt;margin-right:0in;text-indent:-8.65pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">Shareholders&#146; Equity </FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:4.0pt;margin-bottom: 0in;">
				  <FONT STYLE="font-size:10pt">28,409,145 </FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:4.0pt;margin-bottom: 0in;">
				  <FONT STYLE="font-size:10pt">26,177,655 </FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
		  </TR>
		  <TR>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:8.65pt;margin-right:0in;text-indent:-8.65pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">Total Liabilities and
				  Shareholders&#146; Equity</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">$</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:4.0pt;margin-bottom: 0in;">
				  <FONT STYLE="font-size:10pt">34,067,807 </FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;">
				  <FONT STYLE="font-size:10pt">&nbsp;</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0pt;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0pt;">
				  <FONT STYLE="font-size:10pt">$</FONT>
				</P>
			 </TD>
			 <TD VALIGN="bottom">
				<P
				 STYLE=" margin-left:0in;margin-right:.7pt;text-indent:0pt;text-align:right;margin-top:4.0pt;margin-bottom: 0in;">
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