<SEC-DOCUMENT>0001387131-22-006218.txt : 20220516
<SEC-HEADER>0001387131-22-006218.hdr.sgml : 20220516
<ACCEPTANCE-DATETIME>20220516170223
ACCESSION NUMBER:		0001387131-22-006218
CONFORMED SUBMISSION TYPE:	NT 10-Q
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20220331
FILED AS OF DATE:		20220516
DATE AS OF CHANGE:		20220516
EFFECTIVENESS DATE:		20220516

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:		NT 10-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11398
		FILM NUMBER:		22930595

	BUSINESS ADDRESS:	
		STREET 1:		200A EXECUTIVE DR
		CITY:			EDGEWOOD
		STATE:			NY
		ZIP:			11717
		BUSINESS PHONE:		5165865200

	MAIL ADDRESS:	
		STREET 1:		91 HEARTLAND BLVD
		CITY:			EDGEWOOD
		STATE:			NY
		ZIP:			11717
</SEC-HEADER>
<DOCUMENT>
<TYPE>NT 10-Q
<SEQUENCE>1
<FILENAME>cpi-nt10q_033122.htm
<DESCRIPTION>NOTICE OF INABILITY TO TIMELY FILE
<TEXT>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 2.7in 0 0; text-align: center; text-indent: 2.5in">&nbsp;</P>

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    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SEC FILE NUMBER</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0px; text-align: center">001-11398</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">CUSIP NUMBER</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">125919308</P>
    </TD></TR>
  </TABLE>





<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 2.7in 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0in 0 0in; text-align: center; text-indent: 0in"><B>UNITED STATES</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0in 0 0in; text-align: center; text-indent: 0in"><B>SECURITIES AND EXCHANGE
COMMISSION</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0in 0 0in; text-align: center; text-indent: 0in"><B>Washington, D.C.
20549</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 2.7in 0 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 00in 0 0in; text-align: center; text-indent: 0in"><B>FORM 12b-25</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 2.7in 0 1in; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0 0in 0 0in; text-align: center; text-indent: 0in">NOTIFICATION OF
LATE FILING</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify; text-indent: -63pt"><FONT STYLE="font-size: 10pt"><I>(Check
One)</I>:&#9;</FONT>&#9744; <FONT STYLE="font-size: 10pt">Form 10-K </FONT>&#9744;<FONT STYLE="font-size: 10pt">Form 20-F </FONT>&#9744; <FONT STYLE="font-size: 10pt">Form
11-K </FONT>&#9746; <FONT STYLE="font-size: 10pt">Form 10-Q </FONT>&#9744; <FONT STYLE="font-size: 10pt">Form 10-D </FONT>&#9744; <FONT STYLE="font-size: 10pt">Form
N-CEN </FONT>&#9744; <FONT STYLE="font-size: 10pt">Form N-CSR</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify">For Period Ended: <U>March 31, 2022</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify">&#9744; <FONT STYLE="font-size: 10pt">Transition
Report on Form 10-K</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify">&#9744; <FONT STYLE="font-size: 10pt">Transition
Report on Form 20-F</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify">&#9744; <FONT STYLE="font-size: 10pt">Transition
Report on Form 11-K</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify">&#9744; <FONT STYLE="font-size: 10pt">Transition
Report on Form 10-Q</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify">For the Transition Period Ended: <U>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border: black 1pt solid; padding-right: 6.95pt; padding-left: 6.95pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>Read Instructions (on back page) Before Preparing
    Form. Please Print or Type</I>.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.95pt; text-align: center"><B>Nothing in this form shall be construed
    to imply that the Commission has verified any information contained herein.</B></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If the notification relates to a portion of the filing
checked above, identify the Item(s) to which the notification relates: <U>N/A</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>PART I &#8211; REGISTRANT INFORMATION</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>CPI Aerostructures, Inc.</U></B></P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>91 Heartland Blvd.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Address of Principal Executive Office <I>(Street and Number)</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>Edgewood, New York 11717</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">City, State and Zip Code</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>PART II &#8211; RULES 12b-25 (b) AND (c)</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6px; text-align: justify">If the subject report could not be filed without unreasonable
effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; margin-top: 6pt; margin-bottom: 6pt; font-size: 10pt">
<TR STYLE="vertical-align: top">
     <TD STYLE="width: 1%">&nbsp;</TD>
     <TD ROWSPAN="3" STYLE="width: 3%; vertical-align: middle; text-align: center">&#9744;</TD>
     <TD STYLE="width: 1%">&nbsp;</TD>
     <TD STYLE="width: 4%; text-align: left">(a)</TD>
     <TD STYLE="width: 91%; text-align: justify">The
     reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;</TD>
</TR>
<TR STYLE="vertical-align: top">
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD STYLE="text-align: left; padding-top: 3pt; padding-bottom: 3pt">(b)</TD>
     <TD STYLE="text-align: justify; padding-top: 3pt; padding-bottom: 3pt">The subject annual report, semi-annual report,
transition report on Form 10-K, Form 20-F, Form 11-K, Form N-CEN or Form N-CSR, or portion thereof, will be filed on or before
the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form
10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day
following the prescribed due date; and</TD>
</TR>
<TR STYLE="vertical-align: top">
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD STYLE="text-align: left">(c)</TD>
     <TD STYLE="text-align: justify">The accountant&rsquo;s
     statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.</TD>
</TR>
</TABLE>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>PART III &#8211; NARRATIVE</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">State below in reasonable detail the reasons why the
Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-CEN, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed
time period. (Attach extra sheets if needed)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>CPI Aerostructures, Inc. (the &#8220;Company&#8221;)
is unable to file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 (the &#8220;2022 Q1 Form 10-Q&#8221;) by the
prescribed due date. As previously disclosed, the Company is in the process of preparing its financial statements for the year ended December
31, 2021 and Annual Report on Form 10-K for the year ended December 31, 2021 (the &#8220;Form 10-K&rdquo;) which the Company could not, without
unreasonable effort or expense, file by the prescribed due date. The Company&#8217;s financial statements for the quarter ended March
31, 2022 and the 2022 Q1 Form 10-Q cannot be completed until the financial statements for the year ended December 31, 2021 are finalized.
Accordingly, the Company could not, without unreasonable effort or expense, file the 2022 Q1 Form 10-Q by the prescribed due date.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>PART IV &#8211; OTHER INFORMATION</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 6pt; padding-left: 6pt; layout-grid-mode: line"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Name and telephone number of person to contact in regard to this notification</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; padding-right: 6pt; padding-left: 6pt; font: 12pt Times New Roman, Times, Serif; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="width: 32%; padding-right: 6pt; padding-left: 6pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>Andrew Davis</U></B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Name)</P></TD>
    <TD STYLE="width: 32%; padding-right: 6pt; padding-left: 6pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>(631)</U></B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Area Code)</P></TD>
    <TD STYLE="width: 32%; padding-right: 6pt; padding-left: 6pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>586-5200</U></B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Telephone Number)</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 6pt; padding-left: 6pt; layout-grid-mode: line">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 6pt; padding-left: 6pt; layout-grid-mode: line">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding-right: 6pt; padding-left: 6pt; layout-grid-mode: line"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding-right: 6pt; padding-left: 6pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-size: 10pt">Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? &nbsp;If answer is no, identify report(s).</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 6pt; padding-left: 6pt; layout-grid-mode: line">&#9744;<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;Yes&nbsp;&nbsp;</FONT>&#9746;<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;No</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 6pt; padding-left: 6pt; layout-grid-mode: line">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>The Company has not filed its Annual Report on Form 10-K for the
    year ended December 31, 2022.</U></B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding-right: 6pt; padding-left: 6pt; layout-grid-mode: line"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding-right: 6pt; padding-left: 6pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-size: 10pt">Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof?</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 6pt; padding-left: 6pt; layout-grid-mode: line">&#9744;<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;Yes&nbsp;&nbsp;</FONT>&#9746;<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;No</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 6pt; padding-left: 6pt; layout-grid-mode: line">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 6pt; padding-left: 6pt; layout-grid-mode: line">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 6pt; padding-left: 6pt; layout-grid-mode: line">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If so, attach an explanation of the anticipated change,
    both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Cautionary Note Regarding Forward-Looking Statements</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#8220;Safe Harbor&#8221; Statement under the Private
    Securities Litigation Reform Act of 1995: All statements other than statements of historical fact included in this Form 12b-25 are forward-looking
    statements. Such forward-looking statements are based on the beliefs of the Company&#8217;s management, as well as assumptions made by
    and information currently available to the Company&#8217;s management. Actual results could differ materially from those contemplated
    by the forward-looking statements as a result of certain factors, including but not limited to, the Company&#8217;s ability to complete
    the financial statements required to be included in the 2022 Q1 Form 10-Q and the Form 10-K; the timing of the review by, and the conclusions
    of, the Company&#8217;s independent auditor with respect to the financial statements included in the 2022 Q1 Form 10-Q; the timing of
    the audit by, and the conclusions of, the Company&#8217;s independent auditor with respect to the financial statements included in the
    Form 10-K; and the risk that, upon completion of further procedures, the financial results for the period ended March 31, 2022 are different
    than the results described in this Form 12b-25. Additional risks are included in the Company&#8217;s Annual Report on Form 10-K/A for
    the year ended December 31, 2020 and the Company&#8217;s subsequent filings with the Securities and Exchange Commission. Because the risks,
    assumptions, and uncertainties referred to above could cause actual results or outcomes to differ materially from those expressed in any
    forward-looking statements, readers are cautioned not to place undue reliance on any such forward-looking statements, each of which speaks
    only as of the date made. The Company disclaims any obligation to update or correct any forward-looking statement to reflect events or
    circumstances, except as required under federal securities laws.</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>CPI AEROSTRUCTURES, INC</U></B><U>.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Name of Registrant as Specified in Charter)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt">
<TR STYLE="vertical-align: top">
     <TD STYLE="width: 7%">Date:&nbsp;&nbsp;</TD>
     <TD STYLE="width: 32%; border-bottom: #000000 1px solid">May 16, 2022</TD>
     <TD STYLE="width: 22%">&nbsp;</TD>
     <TD STYLE="width: 7%">By: </TD>
     <TD STYLE="width: 32%; border-bottom: #000000 1px solid"> /s/ Andrew Davis</TD></TR>
<TR STYLE="vertical-align: top">
     <TD>&nbsp;</TD>
     <TD STYLE="padding-bottom: 1px">&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>Andrew Davis,</TD></TR>
<TR STYLE="vertical-align: top">
     <TD>&nbsp;</TD>
     <TD STYLE="padding-bottom: 1px">&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>Chief Financial Officer</TD></TR>
</TABLE>

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

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

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